China, Donald Trump and tariffs
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ABC News |
The EU reportedly plans to impose import duties of up to 25% on a range of US goods, including diamonds, motorbikes, luxury boats, domestic appliances, tobacco, poultry and many other agricultural pr...
USA Today |
Beijing responded with additional tariffs on U.S. imports, raising the total levy to 84% set to take effect within hours.
Austin American-Statesman |
The Chinese Finance Ministry announced 84% tariffs on U.S. goods starting Thursday, up from the 34% previously announced.
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President Donald Trump’s abrupt decision to reverse course on his sweeping tariff plan by announcing a three-month pause revealed his threshold for political pain: One week.
Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.
Trump said he decided to pause tariffs because people "were getting yippy" and "a little bit afraid" amid days of market turmoil.
The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.
Trump tariffs live updates: White House insists 90-day pause on tariffs was ‘his strategy all along’
President says he’s issuing a 90-day pause and ‘a substantially lowered Reciprocal Tariff during this period, of 10 percent’
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Trump announced a 90-day pause on some tariffs, but many remain in place, while the U.S. tariffs on China will skyrocket.
Former Biden Treasury Department official Brent Neiman said the Trump White House used his data to justify its reciprocal tariffs but got that data wrong.
2don MSN
White House economic adviser Stephen Miran on Monday encouraged countries hoping to escape high reciprocal U.S. tariff rates to make offers to President Donald Trump, saying the president would welcome moves to lower barriers to U.