Former President Donald Trump, at a campaign rally over the weekend in Wisconsin, said he would impose a 100% tariff on goods from countries that "leave the dollar."
National Security Adviser Jake Sullivan told China's foreign minister that the U.S. is still concerned about the Chinese government's "unfair trade policies and non-market economic practices," according to a White House readout that focused more on military and law enforcement issues than trade.
Imposing tariffs of 20% on all imports and a 60% tariff on Chinese goods would cost middle-class households more than $2,600 a year -- $900 more annually than a 10% tariff on imports, what former President Donald Trump floated earlier in his current presidential campaign, according to a new analysis from the Peterson Institute for International Economics.
Former President Donald Trump said last week that he might put not just a blanket 10% tariff on imports from countries other than China, but 20% tariffs, at least on "foreign countries that have been ripping us off for years" (see 2408140058).
President Joe Biden released a statement July 23 calling on Congress to reauthorize the African Growth and Opportunity Act ahead of a forum this week on the trade deal, which is set to expire in 2025. “America is all in on Africa,” Biden said in the statement.
The Coalition to Close the De Minimis Loophole on July 23 sent a letter to President Joe Biden emphasizing what they said are the continued dangers posed by the unchecked flow of unexamined small packages imported into the U.S.
Vice President Kamala Harris, the likely Democratic presidential nominee, has said that former President Donald Trump's tariff policy was a "trade tax that has resulted in American families spending as much as $1.4 billion more on everything from shampoo to washing machines."
Republican presidential nominee Donald Trump, in a long acceptance speech at the Republican National Convention July 18, said Chinese companies are building large automobile factories in Mexico, and that "the United Auto Workers ought to be ashamed for allowing this to happen." He also said their leader "should be fired immediately, and every single autoworker, union and nonunion, should be voting for Donald Trump because we’re going to bring back car manufacturing, and we’re going to bring it back fast."
Republican presidential nominee Donald Trump, in a sit-down interview with Bloomberg shortly before the attempt on his life, argued that tariffs are "phenomenal" economically -- "and man, is it good for negotiation."
Although it's possible presidential candidate Donald Trump was just riffing when he proposed eliminating the federal income tax and replacing the revenue with tariffs, the White House Council of Economic Advisers is countering the idea with a white paper it issued July 12.