EXPLAINED: Trump's tariffs on China— what are they and how do they work?
WASHINGTON -- President Donald Trump has heightened tensions with China by escalating his tariffs on $200 billion in Chinese goods from 10% to 25%.
Trump has also complained angrily about America's gaping trade deficit with China for which he blames weak and naive negotiating by previous U.S. administrations. Sometimes, the U.S. will impose additional tariffs on imports that it determines are being sold at unfairly low prices or are being supported by foreign government subsidies.Two things: Increase government revenue. And protect domestic industries from foreign competition. Before the federal income tax was established in 1913, tariffs were a big money raiser for Washington.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump doubles tariffs on $200 billion of Chinese imports, escalating U.S.-China trade warThe tariffs took effect at 12:01 a.m. Friday, with trade talks expected to continue.
Read more »
As Trump fights with China over trade, U.S.-China economic relationship already being redefinedThe trend of U.S. companies serving Chinese consumers with products made in China could pose a significant challenge to Trump’s “America First” agenda
Read more »
U.S. poised to double tariffs on $200 billion of Chinese imports, escalating U.S.-China trade warU.S. poised to more than double tariffs on $200 billion of Chinese imports, escalating trade war; talks expected to resume Friday
Read more »
Chinese reality show ‘The Rap of China’ comes to L.A. to seek its next starWhen “The Rap of China” launched in 2017, it pushed underground Chinese rap music into the mainstream. Now, producers are turning to L.A. and other cities to find new talent.
Read more »
U.S. hikes tariffs on Chinese goods, China says to strike backU.S. President Donald Trump's tariff hike on $200 billion of Chinese goods takes effect by davelawder
Read more »
Stocks slide as Trump’s threat of new penalties scares investorsThe stock market is looking at a dark day after President Trump threatened tariffs on China, days before the two sides were scheduled to meet to finalize a deal. Stephanie Ruhle is joined by Risk Reversal Advisors’ Principal Dan Nathan and CNBC’s Dominic Chu for the latest on the markets.
Read more »
Escalation in U.S.-China trade spat is biggest threat to world growth: Le MaireFrench Finance Minister Bruno Le Maire on Friday said that an escalation in the ...
Read more »
China, US to hold more trade talks as Trump ratchets up tariff threatChina's Vice Premier Liu He said “negotiations have not broken down,” but the country strongly opposes the latest US tariff hike on Chinese goods.
Read more »
US, China wield threats going into high-stakes trade talksThe talks were thrown into disarray this week after top US trade negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin accused the Chinese of reneging on commitments they made earlier.
Read more »