Trump approves plan to impose tough China tariffs
President Donald Trump met Thursday with several Cabinet members and trade advisers and was expected to impose tariffs on at least $35 billion to $40 billion of Chinese imports as early as Friday.
President Donald Trump met Thursday with several Cabinet members and trade advisers and was expected to impose tariffs on at least $35 billion to $40 billion of Chinese imports as early as Friday.
The Trump administration delivered a gut punch to America’s closest allies Thursday, imposing tariffs on steel and aluminum from Europe, Mexico and Canada in a move that drew immediate vows of retaliation.
The threats come just over a week after trade tensions between the world's two largest economies had seemingly eased.
The Trump administration on Wednesday launched an investigation into whether tariffs are needed on the imports of automobiles into the United States, moving swiftly as talks over the North American Free Trade Agreement have stalled.
The United States and China are pulling back from the brink of a trade war after the world's two biggest economies reported progress in talks aimed at bringing down America's massive trade deficit with Beijing.
Exports rose in March to a record $208.5 billion, led by shipments of civilian aircraft and soybeans. Imports slipped 1.8 percent, to $257.5 billion.
More than 30 foreign ambassadors—representing countries across four continents—are scheduled to be in Indianapolis to learn about Indiana’s economy and explore potential business relationships with Hoosier firms.
The White House said Monday it would postpone a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days.
The ultimate project, to be developed in phases over the next several years, is expected to be a $245 million, 141-acre complex with 786,000 square feet of facilities.
As the United States and China face off over tariffs and trade policy, some of Indiana’s most important industries are right at the center of the dispute.
The International Monetary Fund has upgraded its economic outlook for the United States in 2018 and foresees a strong year for the global economy as well. But its chief economist warns that a major trade conflict could change things.
Indiana's three Republican Senate candidates continue to voice support for President Donald Trump's trade brinkmanship with China, even as experts warn that a trade war could drive farmers into bankruptcy.
Now in a tit-for-tat fight with the United States, the global superpower vowed Friday to retaliate if President Donald Trump makes good on his threat to apply tariffs to an additional $100 billion worth of Chinese goods.
President Trump’s surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.
The trade gap has continued to rise since Trump entered the White House partly because the U.S. economy is strong and American consumers have an appetite for imported products and the financial wherewithal to buy them.
Beijing’s list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American complaints that it pressures foreign companies to hand over technology.
Some Indiana farmers are concerned that the struggling soybean industry could face another blow if China imposes tariffs on U.S. soybeans.
The World Trade Centers Association announced the decision Monday morning after an application and approval process that lasted more than a year.
The Indiana Economic Development Corp. announced Monday afternoon that Holcomb will spend Monday through Wednesday in Canada to promote investment in the state.
The tariff will result in higher prices for the metal used in beer cans. Brewers might have to consider bottling some beers if aluminum prices become too high to absorb.