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US Import Tariffs
United States President Donald Trump's sweeping new tariffs on American imports shocked governments and investors around the world, swiftly spurring both threats of retaliation and calls for negotiation as industries scrambled and global stocks tumbled. China accused the US of bullying and the European Union promised robust countermeasures, with French officials suggesting taxes to hit US tech giants. Yet the United Kingdom and Japan, among others, expressed hope for a deal with Trump and refrained from talk of retaliation against the world's biggest economy, fearing that slapping their own tariffs on American goods would only make things worse. Trump said Wednesday that the import taxes, ranging from 10 per cent to 49 per cent, would reverse unfair treatment by American trading partners and draw factories and jobs back home. Taxpayers have been ripped off for more than 50 years, he said. But it is not going to happen anymore. Trump imposed a 34 per cent levy on goods from China o
President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The reciprocal' tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America's allies and adversaries alike. Since the 1960s, tariffs or import taxes have emerged from negotiations between dozens of countries. Trump wants to seize the process. Obviously, it disrupts the way that things have been done for a very long time,' said Richard Mojica, a trade attorney at Miller & Chevalier. Trump is throwing that out the window ... Clearly this is ripping up trade. There are going to have to be adjustments all over the place.' Pointing to America's massive and persistent trade deficits not since 1975 has the U.S. sold the rest of the world more than it's bought -- Trump charges that the playing field is tilted against US companies. A big reason for that, he and his advisers say, is because other countries usually tax American exports at .
US President Joe Biden has imposed heavy tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, saying it would ensure that American workers are not held back by unfair trade practices. These include a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff each on electric vehicle batteries from China. In his address to the nation from the Rose Garden of the White House, Biden said America can continue to buy any kind of car they want, but we're never going to allow China to unfairly control the market for these cars. Period. I want fair competition with China, not conflict. We are in a stronger position to win that economic competition of the 21st century against China than anyone else because we're investing in America again, he said. Biden alleged that for years, the Chinese government has poured state money into Chinese companies across a whole range of industries: steel and aluminium, ...