China, Trump and tariffs
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NBC News |
China could greatly increase tariffs on U.S. agricultural products, or even stop importing them completely.
The New York Times |
President Trump’s latest tariffs are about to become an unavoidable and expensive reality for American businesses and for people who rely on foreign goods.
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President Donald Trump’s rapid-fire trade war has set in motion a commercial rupture without precedent, which is rippling through the global economy in unpredictable and costly ways. The triple-digit taxes that the president has imposed on Chinese products — and China’s retaliatory measures — are expected to shrink trade between the world’s two largest economies from a recent annual peak of nearly $700 billion to almost nothing.
Trump’s approach not only confuses China but it could hinder communication and roll back progress in U.S.-China ties.
Even as President Trump hits the brakes on tariffs on many countries, his duties on China and a few major sectors promises a global economic shake-up not seen in decades.Trump’s second-term tariffs on China now total 145%,
Earlier this week: Jared Isaacman, a billionaire entrepreneur and astronaut and Trump’s NASA administrator pick testified at a confirmation hearing as the agency faces a fork in the road. Robert F. Kennedy Jr. said his agency will know what causes autism by September.
U.S. stocks rose on Friday as Wall Street ended a roller-coaster week amid a trade war involving tariffs started by the United States. Investors expressed optimism after the White House said it was in favor of a trade idea with China.
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Trade experts say it won't take long for American consumers and businesses to feel the fallout from the tariffs. "Businesses are already feeling the tariffs," one expert says.
The president's global raft of tariffs was dubbed "worse than the worst-case scenario" by experts, but the most alarming parts of the plan were delayed on April 9.
Donald Trump is trying to to turn his global trade war into a one-on-one showdown with China. In doing so, he’s alienated some of the key U.S. partners who could boost America’s position in a fight between the world’s largest economies.