China, tariffs and Trump
Digest more
Top News
Overview
US President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish.
From BBC
Along with a flurry of new tariffs announced by Trump, the White House said the president signed an executive order shutting down the de minimis trade loophole beginning May 2.
From Yahoo
Read more on News Digest
China has urged the United States to immediately cancel unilateral tariff measures and properly resolve differences with trading partners through equal dialogue, the commerce ministry said on Thursday.
China vowed countermeasures and the E.U. promised a unified response, while Britain and Japan refrained from immediate retaliation.
Trump, 78, argued that the so-called de minimus exception allowed shippers from the People’s Republic and Hong Kong to “hide illicit substances” in packaging and products.
The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board.
The double-digit tariff hikes rippled through world markets and economists are warning that the risk of recession is climbing.
The tariffs are part of a new plan announced by President Donald Trump yesterday on what he dubbed "Liberation Day."
President Donald Trump also unveiled a 10% minimum levy on most goods imported into the US, which will take effect on April 5.