President Donald Trump is following through with promises to hit China with new tariffs on $200 billion worth of imports, U.S. Trade Representative Robert Lighthizer announced today, escalating a trade war that is already hurting the U.S. agriculture sector.
Chinese importers have already stopped buying U.S. wheat, soybean purchases are expected to drop even further, and the U.S. ag sector is expecting the financial pain to increase exponentially as long as the Trump administration persists in a trade war with China.
Republican and Democratic senators let loose Wednesday with scathing criticism for President Donald Trump’s escalating tariffs and tariff threats that are attracting retaliation from around the globe.
Commerce Secretary Wilbur Ross tried to defend the tariffs at a Senate hearing, but most of the lawmakers appeared not to be swayed.
President Donald Trump will not relent in the brewing trade war with China that’s likely to result in even more tariffs and retaliation in the days to come, White House trade adviser Peter Navarro said today.
President Donald Trump announced Monday night that he is ordering that an additional $200 billion in tariffs be levied against Chinese imported goods, raising the stakes in the burgeoning trade war between the two countries.
President Donald Trump today announced the U.S. will hit China with $50 billion worth of tariffs on more than 1,000 Chinese productds, taking the U.S. closer to a trade war with the Asian nation, which has threatened to hit back with tariffs on U.S. soybeans, wheat, corn and other commodities.