President Donald Trump delivered a stern warning on trade to foreign countries at the Group of Seven summit on Saturday, urging trading partners not to retaliate against U.S. tariffs on the imports of steel and aluminum.
(June 9) AP President Donald Trump has decided to impose significant tariffs on Chinese goods, the latest leg in the ongoing tensions over trade between the two nations, according to published reports.
The Washington Post, quoting unnamed administration officials, reported that Trump is planning to announce a 25 percent tariff on $50 billion worth of Chinese products.Reuters reported that Trump’s list of tariffs will contain 800 product categories, down from 1,300 previously. Reuters cited an unnamed administration official and an industry source familiar with the list.
U.S. Treasury Secretary Steven Mnuchin argued against imposing the tariffs at a White House meeting on Thursday but he was not expected to prevail, the official said, according to Reuters.