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During his campaign, Trump has also floated ideas for across-the-board 10% tariff rate on all US trade. Before the election, Barclays estimated this would amount to a 3.2% drag on S&P EPS next year.
Imports totaled $351.6 billion. That rise eclipsed a 2.7% advance in exports to a record high of $273.4 billion. As a result, the trade deficit widened by 6.2% to $78.2 billion in November.
The goods trade gap increased 18.0% to $122.1 billion last month, the Commerce Department's Census Bureau said on Wednesday. Goods imports surged $10.8 billion to $289.6 billion, while exports ...
The authority of Congress to regulate international trade is set out in the United States Constitution (Article I, Section 8, Paragraph 1): . The Congress shall have power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and to promote the general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform ...
August 8: The Office of the United States Trade Representative published its finalized list of 279 Chinese goods, worth $16 billion, to be subject to a 25% tariff from August 23. [86] [121] [122] In response, China imposed 25% tariffs on $16 billion of imports from the US, which was implemented in parallel with the US tariffs on August 23. [123]
Vietnam is vulnerable to becoming the new Trump administration's next target for tariffs as data shows its trade surplus with the United States ballooning, industry executives and analysts said.
Asia-United States relations are covered in these articles: Foreign relations of the United States; East Asia–United States relations; Hong Kong–United States ...
Asia markets opened higher following a positive close on Wall Street. Investors are eagerly awaiting a crucial U.S. inflation report later in the day, which will likely set the tone for the ...