Mexican Media Brands
Trump Threatens to Hike Tariffs on Chinese Goods
President Donald Trump, who a week ago was bullish on a trade deal with China by mid-May, now says he will hike tariffs on $200 billion worth of China on Friday because the talks are moving too slowly.
#economics
Share
President Donald Trump, who a week ago was bullish on a trade deal with China by mid-May, now says he will hike tariffs on $200 billion worth of China on Friday because the talks are moving too slowly.
The U.S. began levying tariffs on Chinese goods last July. The current rates are 25% on certain high-tech Chinese products and 10% on $200 billion worth of other exports from China.
Trump’s threat would raise tariffs on the latter group of goods to 25%. The administration originally intended to do that in January. But it agreed in December to postpone the increase when China and the U.S. pledged to resume trade talks.
Reports say the White House is becoming frustrated by China’s move to renegotiate some commitments made earlier in the bargaining process. BBC News says the two sides also are stuck on how to enforce a trade deal and when—or if—existing protective tariffs would be lifted after agreement is reached.
RELATED CONTENT
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.