China, Donald Trump and Tariffs
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Ukraine, Putin and Trump
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President Trump on Wednesday said he would be sending letters to over 150 countries as he plans a barrage of duties to take effect Aug. 1, including levies on pharmaceutical imports and semiconductors.
After slashing billions in foreign aid, including shutting down the U.S. Agency for International Development, the Trump administration says it is forging a new approach: "commercial diplomacy." Trade,
Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.
Data rolling in on the collection of tariffs by the United States suggests the trade war initiated by President Donald Trump is already generating significant revenue for the U.S. Treasury.
The effects of international tariffs are being felt at the Port of Oakland, which saw a 10.1% drop in overall shipping volume in June
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While cautioning against protectionism, Rajan said targeted tariff reductions could enhance competitiveness in sectors like auto manufacturing. “We produce certain kinds of cars very well,” he said, suggesting lower import barriers might even sharpen domestic performance.
President Trump's tariffs are almost "tailor-made" to hit the goods that lower income households prefer to purchase, says economist Ernie Tedeschi of Yale's nonpartisan Budget Lab.
China's exports regained momentum in June as firms rushed out orders to capitalise on a fragile tariff truce between Beijing and Washington.
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China's Ministry of State Security says it is cracking down on alleged smuggling of rare earths materials that it says threaten national security.
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