Trump promises new 100% tariff on China
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Concerns about U.S. trade policy are back in the spotlight after being overshadowed by the government shutdown and other matters.
U.S. Trade Representative Jamieson Greer on Tuesday said it depended on China whether additional 100% tariffs on its exports to the United States kick in on November 1 or sooner, but acknowledged it might be hard for Beijing to find an off-ramp.
Brazilian farmers are lobbying to roll back deforestation restrictions in order to sell more soybeans to the huge Chinese market.
The Wharton finance professor said if the levies are lifted, the market is likely to pass new milestones.
The International Monetary Fund said that recent trade deals have avoided the worst of Trump's threatened tariffs, but warned that a renewed U.S.-China trade war could slow output significantly.
Yahoo Finance is chronicling the latest news and updates on President Trump's plans to impose tariffs on goods from other countries.
The Chinese Ministry of Commerce said the controls, issued Oct. 9, were part of Beijing's effort to "better safeguard world peace and regional stability."
This was almost the perfect storm coming together,” he warned. Meanwhile, White House budget office said Friday that mass firings of federal workers have started and could to