Trump says US will impose additional 10% tariff on China
Published On Feb 27, 2025, 10:19 AM
President Trump announced that the US will impose an additional 10% tariff on goods imported from China, adding to existing tariffs that are already at least 10%. This action is part of the escalating trade tensions between the US and its top trading partners, including Canada and Mexico, both of which are also facing potential tariffs. The situation raises concerns over retaliatory measures from these countries, which could further inflame trade disputes.
Stock Forecasts
SPY
Negative
The imposition of additional tariffs on Chinese goods is likely to have a negative impact on US-China trade relations, potentially leading to retaliatory actions from China that could hurt US companies reliant on international trade. Companies affected include those in sectors such as technology, manufacturing, and consumer goods, which may suffer from increased costs and supply chain disruptions.
Related News
US economy grew 2.3% in fourth quarter
Feb 27, 2025, 8:44 AM
The Commerce Department released its second estimate of fourth quarter GDP which showed the economy grew 2.3% at the end of last year, in line with expectations and the prior estimate.
GDP: US economy grows at 2.3% annualized pace in fourth quarter, matching estimates
Feb 27, 2025, 8:32 AM
The second estimate of fourth quarter GDP shows that the economy grew at a solid pace to cap off 2024.
U.S. Economy Shows Signs of Strain From Trump’s Tariffs and Spending Cuts
Feb 27, 2025, 5:02 AM
Consumer and business sentiment is wobbling as fiscal support fades and fears rise that tariffs will lead to higher prices.