trade war

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Trump Quadruples Down on China Tariff Threat

'China apparently has no intention of changing its unfair practices'

(Newser) - President Trump directed the US Trade Representative to prepare new tariffs on $200 billion in Chinese imports Monday as the two nations moved closer to a potential trade war. The tariffs, which Trump wants set at a 10% rate, would be the latest round of punitive measures in an escalating... More »

Report: Trump Has Approved Tough New Tariffs on China

Move raises fears of trade war

(Newser) - President Trump has approved a plan to impose punishing tariffs on tens of billions of dollars of Chinese goods as early as Friday, a move that could put his trade policies on a collision course with his push to rid the Korean Peninsula of nuclear weapons. Trump has long vowed... More »

Senators Move to Mend Relations With Canada

Lawmakers from both parties act after rocky G-7 meeting

(Newser) - Senators from both parties sought to mend a frayed relationship with Canada during a closed-door meeting Wednesday with Canadian Foreign Minister Chrystia Freeland. The meeting involving members of the Senate Foreign Relations Committee followed President Donald Trump calling Canadian Prime Minister Justin Trudeau "dishonest" and "weak" after the... More »

Trump to China: We're Imposing Tariffs After All

White House plans to restrict Chinese investment and limit US exports to China

(Newser) - The Trump administration has renewed its threat to place 25 percent tariffs on $50 billion of Chinese goods in retaliation for what it says are China's unfair trade practices, the AP reports. The White House also said Tuesday that it would restrict Chinese investment into the United States and... More »

Trump Delays Tariffs on EU, Canada, Mexico

Decision on steel imports will be postponed 30 days

(Newser) - The White House said Monday it would postpone a decision on imposing tariffs on US imports of steel and aluminum from the European Union, Canada, and Mexico for 30 days, avoiding the potential for a trade battle with Europe as the US prepares for tense trade talks in China this... More »

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... More »

Trump Says It's No Trade War, but Dow Down 500 at Open

Sell-off sparked by China's retaliatory move

(Newser) - "We are not in a trade war with China," President Trump tweeted Wednesday morning, but that didn't calm investors. The Dow opened down 500 points, and is hovering about 350 points, or about 1.5%, down as of this writing. The sell-off was sparked by news that... More »

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... More »

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'... More »

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&... More »

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... More »

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... More »

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... More »

Trump Threatens New Tariffs Against US Allies in Tweet

'We will simply apply a Tax on their Cars which freely pour into the U.S.'

(Newser) - A full-blown trade war is looking ever more likely with President Trump threatening US allies upset with the tariffs on steel and aluminum imports he announced just days earlier, USA Today reports. "If the E.U. wants to further increase their already massive tariffs and barriers on U.S.... More »

US Jet Tariff May Lead to a 'Trade War'

Canada, UK peeved by proposed 219% tariff on Bombardier jets

(Newser) - After a complaint from US aviation giant Boeing, the Department of Commerce has proposed slapping a 219% tariff on the import of C-Series jets from Canadian-owned Bombardier. The move—which still needs approval from the US International Trade Commission—would be in keeping with President Trump's goal of promoting... More »

Bourbon Industry May Pay for Trump's Proposed Steel Tariff

The largely Kentucky-based industry could fall victim to trade wars

(Newser) - The EU is eyeing a potential target to use in retaliation against President Trump’s proposed steel import tariff : the US bourbon industry. Per the Guardian , commission president Jean-Claude Juncker said the EU would "react with counter-measures" within days against US agricultural exports should Trump impose import tariffs on... More »

Trump, Trudeau Talk, and Readouts Are Very Different

Meanwhile, one site thinks US will go after Canadian wine next

(Newser) - The United States is in an escalating dispute with ... Canada? The two nations have been clashing over trade policy in regard to the lumber and dairy industries, with the US slapping tariffs on timber from its second-largest trading partner and President Trump sounding off on what he views as unfair... More »

First Friction Emerges Between Trump, House Republicans

They want him to focus on tax reform

(Newser) - Donald Trump isn't going to have a honeymoon period with House Republicans, if the frosty response to his call for a 35% tariff on companies leaving the US is anything to go by. House Majority Leader Kevin McCarthy was among those pushing back against the policies Trump called for... More »

US, Mexico Brace for Tomato Fight

Trade war possible as US considers ending pact

(Newser) - The humble tomato may spark a trade war between the US and Mexico, reports BusinessWeek . The US took a big step yesterday toward ending a 16-year deal that has kept the prices of Mexican tomatoes cheap in this country. Florida farmers have long pushed for the move, which is expected... More »

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