Staggering U.S. Tariffs Begin as Trump Widens Trade War
The duties, which the president announced last week, took effect for about 90 countries just after midnight.
The duties, which the president announced last week, took effect for about 90 countries just after midnight.
The S&P 500 ended the day 0.1 percent lower, a muted move compared to the upheaval when tariffs were first announced in early April.
Goods shipped from the country face a 39 percent tariff in the U.S., which companies warn will have dire consequences if President Trump cannot be quickly dissuaded.
The tariffs are driving up prices on everyday goods as businesses warn they can no longer absorb costs, leaving consumers to foot the bill.
Britain’s economy is driven by domestic factors more than global ones right now, the governor of the Bank of England said on Thursday, when the central bank cut interest rates.
Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
China is shipping more goods to Southeast Asia and other regions that often re-export them to the United States. China still sells three times as much to the United States as it buys.
Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.
President Trump fired the head of the Bureau of Labor Statistics last week and described a jobs report that included a big downward revision as “rigged.”