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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.
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.
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 administration will double tariffs on Chinese-made solar products just weeks before the end of President Joe Biden's term, citing reported cyber theft and industrial espionage concerns.
Under the most optimistic outcome, Trump’s tariffs would generate as much as $2.5 trillion over 10 years, according to an estimate by the pro-business Tax Foundation.
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."
By David Lawder (Reuters) -The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to strengthen protections for strategic ...
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 ...