The tariffs are here.
Trade teams from the U.S. and China will reportedly meet in September in the hopes of inching closer toward a deal between Beijing and Washington, but tariff increases on $112 billion in certain Chinese goods still went into effect Sunday at midnight, as planned. The tariffs will make it 15 percent more expensive for U.S. companies to import many Chinese goods, including televisions and footwear, though some tariffs have been delayed until after the holiday shopping rush. The newest round of tariffs are consumer-focused and will reportedly cost the average American household $1,000 per year.
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.
-
Is Prince Harry owed protection?Talking Point The Duke of Sussex claims he has been singled out for 'unjustified and inferior treatment' over decision to withdraw round-the-clock security
-
Sudoku hard: April 20, 2025The Week's daily hard sudoku puzzle
-
Codeword: April 20, 2025The Week's daily codeword puzzle
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
