tariffs

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White House Walks Back China Trade Penalty Threats

The administration softened its rhetoric Sunday amid fears of a trade war

(Newser) - President Trump's administration on Sunday appeared to back away somewhat from threats of tariffs on China as global fears of an escalating trade dispute continued to rattle world markets. Per the Wall Street Journal , officials noted that penalties are not imminent and that China would ultimately choose cooperation rather...

Trump Threatens China With a New $100B Hit

'This is what a trade war looks like'

(Newser) - "This is what a trade war looks like, and what we have warned against from the start," said National Retail Federation President Matthew Shay after President Trump threatened tariffs on another $100 billion in Chinese goods on Thursday. The White House says Trump has directed trade officials to...

Trade War Looms as China Hits Back at Trump Tariffs

Beijing targets 3 biggest US imports

(Newser) - China says it doesn't want a trade war—but it's not going to back down if President Trump starts one. After the Trump administration recommended new 25% tariffs on $50 billion in Chinese goods Tuesday, Beijing hit back within hours with its own proposed tariffs on 106 American...

US Proposes Tariffs on 1,300 Chinese Products

Chinese embassy in Washington condemns the move

(Newser) - The Trump administration is recommending 25% tariffs on $50 billion in Chinese imports to protest Beijing's alleged theft of American technology. The Office of the US Trade Representative has issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications equipment. But the proposed tariffs wouldn't...

Equities in 'Tailspin' as Stocks Hit the 'Trump Slump'

Not since the Great Depression have US stocks seen such a bad April slide, Bloomberg reports

(Newser) - US stocks haven't seen a second-quarter start like this in 90 years—90 years ago being the kickoff to the Great Depression. Bloomberg looked at the numbers and reports on the April slide: 2.2% for the S&P 500, a drop that hasn't been surpassed since 1929'...

Dow Drops 500 on Fears of China Trade War

Market was down 500 at midday

(Newser) - US stocks were tumbling Monday after China raised import duties on American pork, apples, and other products. The Dow Jones industrial average was down more than 500 points at noon Eastern, or about 2%, per the Wall Street Journal . The Nasdaq slumped 190 points, or 2.7%, and the S&...

China Slaps New Tariffs on 128 US Products

Beijing says it's payback for Trump tariffs

(Newser) - China has made good on its threat to retaliate for President Trump's new tariffs on steel and aluminum. Beijing says it is slapping new tariffs on 128 kinds of American products, including pork, wine, and numerous kinds of fruit, "in order to safeguard China's interests and balance...

Sen. Kaine Says Trump Is 'Lying' or 'Delusional'

Virginia senator heats up DACA blame game

(Newser) - Virginia Sen. Tim Kaine fired back at President Trump Sunday over DACA's demise, which Trump blames on Democrats. "He is either lying or he is completely delusional,” Kaine says on CNN’s State of the Union, per Politico . "If President Trump believes in DACA, all he...

China Issues a Warning on 'Trade War'

'It will only lead to serious consequences and negative impact'

(Newser) - A top Chinese official warned Sunday a "trade war" would harm all sides but gave no indication of Beijing's next move in a spiraling dispute with President Trump over steel and technology, reports the AP . Speaking to global business leaders at a development forum, Vice Premier Han Zheng...

China Announces Response to Trump's Tariff Hike

On the hit list: American pork, apples, wine

(Newser) - China announced a list of US goods including pork, apples, and steel pipe it says may be hit with higher import duties in response to President Trump's tariff hike on steel and aluminum. The Commerce Ministry called on Washington to negotiate a settlement as soon as possible but set...

US Stocks Sink on China Tariff Fears
Trump Signs Off on
Major China Penalties
UPDATED
Mar 22, 2018 12:23 PM CDT

Trump Signs Off on Major China Penalties

Dow sinks as investors worry about trade war

(Newser) - President Trump signed an order Thursday that paves the way for imposing tariffs on as much as $60 billion worth of Chinese imports to punish Beijing for what he said is the theft of American technology and Chinese pressure on US companies to hand it over. "It is the...

Trump Readies a Hefty Penalty on China

President prepares to unveil $60B in tariffs despite concern from US businesses

(Newser) - President Trump has long believed China engages in unfair trade practices with the US, and senior aides recently presented him with a proposal for $30 billion in annual tariffs against Beijing. Not good enough, said Trump, who ordered them to double the amount to $60 billion, reports the Washington Post ...

China: 'We Don't Want to See a Trade War'

Premier says Beijing won't use US debt as leverage

(Newser) - Premier Li Keqiang said Tuesday that China doesn't want to see a "trade war" with the United States and hopes to reach a negotiated settlement of disputes. Speaking at a nationally televised news conference, Li said rash action would hurt all sides. He made no mention of a...

Trump Signs Off on Steel, Aluminum Tariffs

They take effect in 15 days

(Newser) - As expected, President Trump signed off on steel and aluminum tariffs Thursday at the White House, CNBC reports. Trump says a 25% tax will apply to steel imports, and 10% will be added to aluminum brought into the US, the AP reports. Trump says the excess of imported steel and...

Trump Seems to Be Budging on Tariff Exemptions

Mexico, Canada, and possibly other nations may get a break; signing expected Thursday

(Newser) - President Trump is expected to formally sign off on his steel and aluminum tariffs Thursday afternoon at a White House ceremony with steel union workers, reports the Washington Post . However, it appears the White House is giving ground on its initial defiance about exemptions. Trump trade adviser Peter Navarro told...

Steel Plant Restarting Due to Trump's Proposed Tariffs

But experts still predict damage to US economy

(Newser) - US Steel Corp says it will soon restart a blast furnace in Illinois that has been cold for over two years thanks to the 25% tariff on imported steel announced by President Trump last week, Politico reports. US Steel President David Burritt blames "unending waves of unfairly traded steel...

Paul Ryan Splits With Trump Over Tariffs

House speaker advises the White House to skip the idea

(Newser) - President Trump has a notable new critic of his plan to impose big tariffs on steel and aluminum: House Speaker Paul Ryan. “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan,” says a spokesperson...

Trump's Tariff Surprise Now Has NAFTA Link

He says Mexico, Canada can avoid new taxes by renegotiating trade pact

(Newser) - President Trump suggested Monday that his plan to impose hefty tariffs on steel and aluminum might have some wiggle room, at least for Mexico and Canada. In morning tweets, Trump said the two nations could avoid the tariffs by giving ground in ongoing NAFTA negotiations, reports the Wall Street Journal ...

Electrolux Halts Tennessee Project, Blames Tariff Action

'Unfortunately, this decision gives foreign appliance manufacturers a cost advantage'

(Newser) - Electrolux says its plans for a $250 million plant expansion in Tennessee are on hold, and the Swedish appliance maker is pointing to President Trump's tariff action as the reason, the AP reports. The company's investment plans, announced in January, included modernizing and adding 400,000 square feet...

Trump Adviser: '160 Countries ... Simply Don't Like Us'

Tariffs and gun control heat up the Sunday talk shows

(Newser) - Tariff talk and gun control took center stage on the Sunday talk shows. On State of the Union, White House trade adviser Peter Navarro refused to allow any exclusions for steel and aluminum tariffs, even for US allies, CNN reports. But "there will be an exemption procedure for particular...

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