China Vows ‘Forceful’ Response
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US tensions with two key trade partners amped up on Monday after President Trump doubled tariffs on steel and aluminum and the US pushed countries for deals ahead of looming deadlines. China responded to Trump's claim on Friday that it has "totally violated its agreement" with the US,
The U.S. dollar fell against other major currencies on Monday, giving up some of the previous week's gains, as markets weighed the outlook for President Donald Trump's tariff policy and its potential to hurt growth and unleash inflation.
Retailers like Macy's and Target are reducing reliance on China amid Trump's trade war, restructuring supply chains to mitigate tariff impacts and potential price hikes.
China responded to President Trump on Monday, accusing the US of violating their trade agreement and vowing to protect its interests. “If the US insists on its own way and continues to damage China’s interests,
President Trump and Chinese President Xi Jinping haven't spoken since before Mr. Trump took office, but Trump administration officials say a call between the two leaders could happen as soon as this week to discuss the ongoing trade war.
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The president is set to raise tariffs on steel and aluminum this week, even as the courts are challenging the legitimacy of other levies.
Louisiana, North Dakota, and Iowa rank as the top three most affected states, thanks to their reliance on agriculture and manufacturing. Others in the top 10, including South Dakota, Oregon, Nebraska, West Virginia, New Mexico, Kansas, and Michigan, show similar vulnerabilities.
After 35 years in operation, Neo-China in Durham closed its doors at the end of May. The family-owned Chinese restaurant struggled to keep up with rising operational costs, including the increased prices of imported Chinese goods that resulted from the high tariff earlier this spring.
Beijing has infuriated Trump officials by failing to loosen its crackdown on exports of seven “heavy” rare earth metals which are essential for gadgets like smartphones and electric cars as well
About 90% of the bridal gowns sold in the U.S. are imported from China, according to the National Bridal Retailers Association, which represents thousands of independent businesses, meaning they’re heavily exposed to tariffs.