A common maxim of trade wars is that the best retaliation is not to retaliate at all. Such conflicts, after all, are counterproductive in the first place. Raising levies on imports simply increases costs for domestic consumers, more than offsetting the benefits that local producers may enjoy from the higher prices they receive from the…
ARLINGTON, Va. (7News) — The latest tariff war news could mean consumers digging deep to pay for a bottle of Vino. The Trump administration is locked in a bitter battle with the European Union (EU) – each side slapping import taxes on various products – steel and aluminum from the EU, whiskey and motorcycles from…
President Donald Trump will announce his plan to impose reciprocal tariffs on foreign imports Thursday, he said on Truth Social, after the president already imposed global tariffs of 25% on all steel and aluminum imports earlier this week. Feb. 13, 6:46 a.m. ESTTrump said on Truth Social his announcement on reciprocal tariffs—the U.S. imposing the…
President Donald Trump’s sweeping tariffs on imports from China went into effect after midnight on Tuesday—triggering retaliatory levies by Beijing that some fear could escalate into a trade war—even as the proposed tariffs against Canada and Mexico were both put on pause for 30 days. Feb. 5, 8:15 a.m. ESTThe United State Postal Service said…
President Donald Trump’s sweeping tariffs on imports from China went into effect after midnight on Tuesday—triggering retaliatory levies by Beijing that some fear could escalate into a trade war—even as the proposed tariffs against Canada and Mexico were both put on pause for 30 days. Feb. 5, 5:30 a.m. ESTDuring the Chinese Foreign Ministry’s daily…
Topline President Donald Trump on Sunday defended his decision to impose broad tariffs on Canada, Mexico and China, acknowledging they may cause “some pain” but claiming it “will all be worth the price,” as the import taxes have been widely condemned by business groups and economists who warn they’ll raise prices for American consumers. President…
US president-elect Donald Trump’s second term could have severe repercussions for American and Chinese societies if fears of an expanded national security posture and rising economic barriers are realised, according to a US-China relations expert. Stephen Orlins, president of the National Committee on US-China Relations, a New York-based non-profit advisory group, said a worst-case scenario…