Trump’s trade war with China: US Imposes Biggest Round of Tariffs Yet. United States and China’s trade fight intensified Monday as the two economic superpowers hit each other with their biggest round of tariffs yet.
China said talks to resolve the impasse over trade with the U.S. can’t happen as long as President Donald Trump keeps threatening to impose further tariffs.
Donald Trump announced in march 2018 that he would impose tariffs of 25% on steel imports and 10% on aluminum. These tariffs were justified by citing Section 232 of the Trade Expansion Act of 1962, as amended, with a claim the imports “threaten to impair the national security” of the United States. Since nearly all steel and aluminum imports come from U.S. allies, most analysts found the “national security” claim to be little more than exploiting a loophole in U.S. trade law.
US President announced new tariffs of 10% on $200 billion in Chinese imports, which will increase to an eventual tariff rate of 25% in september 2018. U.S. consumers will pay for the tariffs through higher prices for many goods. In between the latest China tariffs and the steel and aluminum tariffs, Trump threatened to impose tariffs on cars and auto parts, a blow to Americans shopping for cars.