The most unwavering defenders of President Donald Trump's "reciprocal tariffs" policy -- including House Ways and Means Committee Chairman Jason Smith, R-Mo. -- were a bit undercut during a four-hour hearing on the president's trade agenda, because Trump reacted to Treasury market volatility and backed down.
China’s State Council this week released a white paper on economic and trade relations with the U.S., criticizing the U.S. government’s imposition of tariffs and export controls and saying that the two sides should strive toward “mutually beneficial cooperation.” The white paper seeks to “clarify the facts about China-US economic and trade relations and illustrate China's policy stance on relevant issues,” it says, according to an unofficial translation.
China raised the tariff rate on U.S.-origin goods, from 34% to 84%, in response to President Donald Trump's April 8 executive order raising reciprocal rates by 50% (see 2504080079), the Office of the Tariff Commission of the State Council announced April 9. The new tariffs will take effect at 12:01 a.m. April 10, the commission said, according to an unofficial translation.
President Donald Trump said April 9 that he’s hiking tariffs on Chinese imports to 125% "effective immediately."
Members of the Senate Agriculture Committee on April 8 pressed Stephen Vaden, nominee for USDA deputy secretary, on how President Donald Trump's slew of tariff action will impact USDA and agriculture issues.
President Donald Trump’s April 8 executive order that raised the reciprocal tariff on China to 84% also increased tariffs applicable to postal shipments.
CHANDLER, Ariz. -- As President Donald Trump’s tariffs and his related trade rhetoric prompt a trade war, the potential for cyberattacks within the U.S. trade industry could increase, according to a panelist speaking at the National Customs Brokers & Forwarders Association of America’s annual meeting.
A “major” tariff on pharmaceuticals will be announced “very shortly,” President Donald Trump said April 8.
President Donald Trump, on his social media account, said that he will drop high reciprocal tariffs that started today for 90 days. However, the 10% tariff imposed on nearly all trading partners will remain.
Only 13 hours after reciprocal tariffs of 11% to 84% began, President Donald Trump said he is pausing the higher country-specific tariffs for 90 days -- except for China, whose total emergency tariff will go from 104% to 125%, according to a White House spokesperson. The baseline additional 10% tariff -- which applies to nearly all countries, but not Mexico and Canada -- remains in place.