trade
Combined, the new tariffs will cost companies billions of dollars, and further escalate the uncertainty in two of the world's major trade partnerships.
The president's moves are part of a broader effort to disrupt and transform global commerce.
The Trump administration imposed tariffs on imports from Canada and Mexico starting Tuesday and doubled tariffs against imports from China.
Trump declared an economic emergency in order to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada.
WHAT'S HAPPENING
Donald Trump famously renegotiated an existing trade pact with the countries in his first term. Now he's going back for more.
The president-elect continues to falsely claim that exporting countries pay tariffs, when, in fact, U.S. importers and eventually consumers do.
A prolonged shutdown could deal a significant blow to the economy since the workers control major commercial choke points.
It’s hard to see how it would work, and critics say it would hurt the poor when compared to the current tax regime.
While penalties for some items would be high, only electric vehicle batteries are a major import item on Biden’s list.
Americans who buy a Chinese-made electric car will pay twice as much as they would have without the new tariff and 25% more for Chinese solar panels.
