US-China trade deficit

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In Time for Trade Deal Signing, US Removes Label on China

It's no longer considered a currency manipulator, Treasury decides

(Newser) - As Chinese officials landed in Washington on Monday to sign a trade deal, the US presented them with a concession. The US no longer considers China a currency manipulator. The label was put in place last summer after President Trump accused the government of weakening its currency for an unfair... More »

US-China Trade War May Mean Higher Prices

Tariffs of 10% and 5% apply to various goods imported from China

(Newser) - The US and China on Sunday put in place their latest tariff increases on each other's goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season, the AP reports. President Donald Trump said US-China trade talks were still... More »

600 Companies Tell Trump: End Trade War 'Both Sides Will Lose'

Appeal to president predicts long-lasting damage

(Newser) - Walmart, Costco, Target, and hundreds of other companies and trade groups told President Trump on Thursday that tariffs on China will cost jobs and harm American consumers. It's a battle that "both sides will lose," CNN reports the letter to the White House says. The administration increased... More »

Trump Offers Farmers Caught in Trade War $16B in New Aid

A $12B package was announced last summer

(Newser) - With more than a dozen farmers at his side, President Trump announced a $16 billion aid package to compensate farmers for their losses in the trade war with China. "This support for farmers will be paid for by the billions of dollars the Treasury takes in" from China, he... More »

US-China Relations Just Got Much Worse

Officials accuse Beijing of backtracking on commitments

(Newser) - US-China relations took another hit Monday after American officials accused Beijing of backtracking on trade commitments—and confirmed that the US will go ahead with the tariff hikes threatened by President Trump . "Over the course of the last week or so we have seen an erosion in commitments by... More »

July Held Bad News for US Trade Deficit

It increased $4.4B, set records in dealings with China and EU

(Newser) - The US trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China and the European Union set records, reports the AP . The Commerce Department said Wednesday that the deficit in goods and... More »

US Just Ramped Up Trade War With China

White House announces another $200B in products to be hit with tariffs

(Newser) - The US-China trade war is here—and it's escalating rapidly. US authorities rolled out a list Tuesday of some $200 billion in Chinese goods that could be hit with 10% tariffs by September, Deutsche Welle reports. The list of more than 6,000 product lines includes food products and... More »

US Ship With Soybeans Raced the Clock Toward China

But 'Peak Pegasus' appears to have fallen just short, as tariffs go into effect

(Newser) - Trade disputes generally don't lend themselves to exciting visuals, but the new one between the US and China might be an exception. As the deadline neared for new penalties to take effect, a ship laden with US soybeans raced toward the Chinese port of Dalian, capturing the attention of... More »

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 »

Trump Defies Congress With Decision on Chinese Firm

But will China accept the president's terms?

(Newser) - Well, ZTE is back in business—sort of. Washington will drop sanctions against the Chinese telecommunications giant if it makes management changes and pays a big fine, a Congressional aide tells Reuters . President Trump tweeted more, saying that "I closed it down then let it reopen with high level... More »

China Welcomes Trump's Move to Save Firm

Vice premier is visiting US to cool trade dispute

(Newser) - China said Monday it is sending an envoy to the United States this week for talks aimed at cooling a trade dispute that threatens to upend markets from soy beans to steel, and welcomed comments by President Trump hinting at a possible easing of sanctions on embattled Chinese telecommunications firm... More »

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... 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 »

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 »

US Scores Win With China Rice Deal

Beijing to allow US imports for first time

(Newser) - A big win for the US amid troubled trade talks with China: After more than a decade of disagreement on the issue, Beijing has agreed to allow rice imports from the US for the first time, the BBC reports. Industry organization USA Rice says the deal includes strict standards to... More »

Study: Walmart's Chinese Imports Cost 400K US Jobs

The world's largest retailer disagrees

(Newser) - America's favorite big-box retailer may be responsible for the loss of hundreds of thousands of US jobs since 2001, Fortune reports. According to a new study from the Economic Policy Institute, Walmart's importing of cheap Chinese goods resulted in the elimination of 400,000 American jobs between 2001... More »

Booming China Wants More of Our ... Soybeans

Exports are up, but so is the trade deficit

(Newser) - China is growing richer, and it wants more and more of what our land produces. US exports to the country are up 50% over 2008, and food led the pack last year—soybeans in particular. Why? They're cheaper to import than feed grain, and are used to beef up... More »

China Threatens 'Trade War' Over Senate Bill

Bill would place tariff on countries that depress their currencies

(Newser) - A senior Chinese official warned today that the US is in for a “trade war” if it enacts a Senate bill that would punish China for artificially keeping its currency low. The bill “in no way represents the reality of the economic and trade relationship between China and... More »

Joe Biden to China: 'US Never Will Default'

VP calls on China to rein in North Korea, Iran, and allow more freedom

(Newser) - Vice President Joe Biden wrapped up his five-day visit to China with a strong message of China-US interdependence and firm promises that the United States would never default on its debt, reports Reuters . Speaking in the southwest city of Chengdu earlier today, Biden emphasized the continued strength of the US... More »

'Guidelines,' No Specifics, at G20

Obama slams China over currency manipulation

(Newser) - G20 leaders have agreed to curb “persistently large imbalances” in saving and spending and set “indicative guidelines” against trade imbalances, but more specific decisions on how to identify and fix said imbalances were left until next year, reports the New York Times . The finance minsters are to agree... More »

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