The White House confirmed Tuesday that it will be going forward with the implementation of heavy tariffs on Chinese imports next month following weeks of concern that doing so might spark a trade war, The New York Times reports. Some $50 billion in imported goods will be subject to the 25 percent tariff, with a finalized list of goods expected by June 15. The U.S. also plans to implement restrictions to China's access to American technology, with the administration citing national security concerns.
Trade negotiations between the nations are ongoing, with Treasury Secretary Steven Mnuchin saying the trade war was "on hold" less than two weeks ago. Commerce Secretary Wilbur Ross will travel to China to continue talks in early June.
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.
-
Niall Williams shares his favourite booksThe Week Recommends The Irish novelist chooses works by Charles Dickens, Seamus Heaney and Wendell Berry
-
Can 'slow shopping' help you spend less this holiday season?The explainer You may feel pressured to act fast in order to get the best deals — but this can lead to superfluous spending
-
Crossword: November 15, 2024The Week's daily crossword puzzle
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
