Economists say consumers foot the bill from these kind of trade actions and stress the far-reaching impacts that U.S. President Donald Trump's latest tariffs will have on goods sourced from around the world.
Trump announced a minimum tariff of 10% on global imports and much higher taxes on products from China, the European Union and even smaller countries like Vietnam, slapped with tariffs of 49%.
U.S. employers added a surprising number of jobs last month, showing that the American labor market was in solid shape as President Donald Trump embarked on a risky trade war with the rest of the world.
As world markets wallowed in heavy losses Friday, Taiwan's president promised to provide support to industries most vulnerable to the 32% tariffs Trump ordered in his "Liberation Day" reciprocal tariffs announcement.
U.S. markets plunged in the wake of President Trump's announcement of new tariffs. Many stocks had their worst single day since the start of the pandemic in 2020. Leaders around the world denounced the tariffs and experts warned the president's ...