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New U.S. tariffs on $18 billion in Chinese goods take effect Friday as trade tensions intensify between the world’s two largest economies.
The Biden-Harris administration is cracking down on a popular loophole used by Chinese retailers while US companies prepare for the possibility of more tariffs after the 2024 election.
Trump calls tariffs "the most beautiful word in the dictionary" and has even floated things like 2,000% tariffs on autos and said his aim in some areas is to implement "the highest tariff in history."
President Joe Biden has kept those tariffs in place and, after the USTR finished a multiyear review earlier this year, decided to increase some of the rates on about $15 billion of Chinese imports ...
The Biden-Harris tariffs include a new 25% levy on Chinese-made ship-to-shore cranes, a China-dominated sector with no U.S. producers. The Port of New York and New Jersey said it has eight cranes ...
Dryers, which weren’t under the tariff, went up by about the same amount. Overall, the tariff increased costs to consumers by an estimated $1.5 billion annually.
A study from the Tax Foundation of Trump's varied tariffs — most of which Biden has kept in place — found that they are set to reduce long-run GDP by 0.21% and cost the economy the equivalent ...
When the Biden administration inherited Trump's trade war, it promised more competent management—but delivered a continuation of the status quo as tariffs slowed America's response to the COVID ...