Trump, China and tariff
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The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States.
Long before President Trump wielded tariffs as a weapon to punish Indonesia, the country was fighting back a flood of cheap Chinese goods.
Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.
"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.
The U.S. can either spend taxpayer money to help U.S. businesses export to the world (subsidies) or it can collect taxes so that it has more money to spend (tariffs).
Financial news has been breaking fast and furious, thanks to President Trump. Over the past week, he has: Escalated threats of sharply higher tariffs on major trading partners that don’t cut trade deals with him by the end of the month.
WASHINGTON — President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.
More than a dozen countries stand in the crosshairs of Trump's threat to impose 100% tariffs over their economic ties to Russia.
Jakarta plans to revive a plane order to seek favour with Trump and boost US ties despite flag carrier Garuda’s financial woes.