Trump tariffs. In January 2018, Trump imposed tariffs on solar panels and washing machines, and later the same year, he imposed tariffs on steel and aluminum. On June 1, 2018, the United States imposed a 25% tariff on imports of steel, and a 10% tariff on aluminum, on the European Union, Canada, and Mexico.
The Dow Jones industrial average dropped more than 700 points as investors feared that trade tensions between the world’s largest economies would escalate. The planned sanctions include tariffs on $48.
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The trade war between the United States and China escalated on Tuesday after U.S. President Donald Trump announced another 25 percent tariff on nearly $50 billion of Chinese imports. The products being targeted in Trump’s latest crackdown include robotics and products used for aerospace, communication and information technology development.
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So said Illinois farmer Aaron Wernz, speaking to a Wall Street Journal reporter after China announced. The president, who lacks a basic grasp of the value of international commerce, resents any.
What should be clear, however, is that, if the Journal report is accurate, neither of the above explanations should comfort anyone, whatever their views on U.S.-China trade issues. The former could signal the imminent shattering of a campaign promise – which could only fuel further corrosive public cynicism about American politics.
BEIJING – China appealed to Washington on Thursday to "meet each other halfway" and settle a trade war instead of going ahead with planned tariff hikes Beijing warned will trigger retaliation.
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Adam Behsudi and Doug Palmer have more on the Chinese side of a trade war here. Chamber of Commerce is taking the next step in its campaign against Trump’s tariffs by launching a new, six-figure ad.