President Trump announced Thursday that he is contemplating imposing an additional $100 billion in tariffs against China, piling on to the $50 billion already authorized by the White House.
Trump said the increase is in response to China's decision to raise import duties on U.S. products, including soybeans and pork, by up to 25 percent, which he called an "unfair retaliation" against the U.S. "Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Trump said. He has accused China of stealing U.S. intellectual property, and already applied tariffs to Chinese steel and aluminum.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
July 27 editorial cartoonsCartoons Today's political cartoons include tough stains, heatwaves, and vote-losing behaviour
-
5 attention-grabbing cartoons about Trump's distraction tacticsCartoons Artists take on a musical diversion, an NFL team by any other name, and more
-
The Coldplay affair: a cautionary taleIn the Spotlight The pair became 'the most googled people on the planet' after getting caught having an affair at a Coldplay concert
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
