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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... More »

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... More »

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 ... 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 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... More »

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... More »

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... More »

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... More »

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 ... More »

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... More »

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... 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 »

Tariff Move Could Make Autos, Beer More Expensive

Trump remains defiant amid criticism and fears of a trade war

(Newser) - President Trump's announcement that he plans to impose a 25% tariff on steel imports and 10% on aluminum is reverberating not just in the US but around the world in the form of jittery stock markets and worries about a trade war. A look at what's going on:... More »

Dow Craters as Trump Says He'll Impose Big Tariffs

Market drops 500 after president's move on steel and aluminum imports

(Newser) - President Trump announced new tariffs on imports of steel and aluminum—25% and 10% respectively—on Thursday, leading some experts to fear a global trade war, the New York Times reports. "Our Steel and Aluminum industries ... have been decimated by decades of unfair trade and bad policy with countries... 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's Feud With Canada Could Cost US Homebuyers

Trudeau warns about 'thickening' border

(Newser) - President Trump's new tough-on-Canada stance is causing headaches for industries on both sides of the border and could end up hurting American homebuyers, analysts say. The president slapped new tariffs of up to 24% on Canadian lumber imports this week and while this will give American producers a boost,... 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, South Korea Cut Trade Deal

Could mean tens of thousands of jobs for US

(Newser) - The Obama administration has completed a free-trade agreement with South Korea that it expects to jack US exports by billions and create at least 70,000 jobs. The deal, the largest since NAFTA 16 years ago, was reached yesterday after trade reps for both sides reached a deal on automobile... More »

Obama Rallies Labor to Back Reform

President rallies for support at AFL-CIO rally, Ohio GM plant

(Newser) - President Obama returned to friendly territory at an AFL-CIO rally in Pittsburgh and a GM plant in Ohio today to rally support for his health care reform plans, the Wall Street Journal reports. Noting that the issue had been talked “to death,” Obama asked the audience of AFL-CIO... More »

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