Spain has summoned the US ambassador in Madrid to express its complete rejection of any new US tariffs on European Union goods and will press for strong countermeasures if they are confirmed, the acting government said.
A US-Japan trade deal hit a last-minute snag as Japanese officials sought assurances that the Trump administration will not impose national security tariffs on Japanese-built cars and auto parts, people familiar with the talks said.
China unveiled on Friday retaliatory tariffs against about $75 billion worth of US goods, putting an additional 10% on top of existing rates in the latest tit-for-tat exchange in a protracted dispute between the world’s top two economies.
As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on US consumers as top retailers begin reporting quarterly results next week and key consumer sentiment and retail sales data is released.
The latest tariffs President Donald Trump plans to impose on Chinese goods would cost US households an average of $200 a year, some economists estimate, and would start to bite consumers and retailers just as the holiday shopping season begins.
China says it would not be blackmailed and warned of retaliation after US President Donald Trump vowed to slap a 10% tariff on $300 billion of Chinese imports from next month, sharply escalating a trade row between the world's biggest economies.
China is “rolling out the red carpet for the rest of the world” by lowering tariffs with other countries — even as its trade war with the US continues to drag on, according to Peterson Institute for International Economics.