The U.S. trade war with China just got kicked up another notch.
The White House on Wednesday proposed a 25 percent tariff on $200 billion worth of Chinese goods, more than double the 10 percent tax rate originally planned.
U.S. trade representatives are trying to re-engage China in trade talks to de-escalate tensions between the two countries. Advisers reportedly told President Trump that China's authorities would be more likely to yield if higher tax rates were imposed.
Last month, the administration imposed a 25 percent tariff on $34 billion worth of Chinese goods, mostly machines and components. When Beijing immediately retaliated, Trump proposed additional taxes on $200 billion in importsーthis time affecting more consumer goods like furniture and computers.
Raising the proposed tax rate on those goods means extending the deadline for public comment on the plan from August 30 to September 5.
Newly released video shows the husband of former U.S. House Speaker Nancy Pelosi fighting for control of a hammer with his assailant during a brutal attack in the couple’s San Francisco home last year.
President Joe Biden touted the administration's economic achievements in a Virginia speech, while bashing Republicans for their handling of the nation's debt ceiling.
President Joe Biden has announced that the United States would be delivering 31 Abrams Tanks to Ukraine as the country heads into a new phase of its war against Russia.
Texas storms, U.S. tanks could be headed for Ukraine, and journalist deaths spiked in 2022. Here is everything you Need2Know for Wednesday, January 25, 2023.
