Nations respond to Trump administration's tariff policy with retaliatory tariffs
- 6 years ago
The Trump administration's tariff policy is being met with retaliatory tariffs by Washington's trade partners.
While China has warned of countermeasures,... the other members of NAFTA -- Canada and Mexico -- are slapping heavy duties on American imports.
Kim Hyo-sun tells us more.
Nations across the world are imposing retaliatory tariffs against the United States,... in response to the Trump administration's controversial tariff policy.
China has warned it's fully prepared to take countermeasures against Washington's hefty trade tariffs on Chinese imports that are due to take effect from Friday.
The U.S. plans to begin imposing a 25 percent tariff on Chinese goods worth 34 billion dollars.
"China is fully prepared to take a package of necessary measures in a comprehensive way to safeguard the interests of the country and the people, should the U.S. roll out the so-called tariff list."
Beginning this week, Canada slapped retaliatory tariffs on nearly 13 billion dollars of goods manufactured in America,... including chocolate, orange juice and coffee.
The move is in response to President Trump's levying of tariffs on Canadian aluminum and steel.
Mexico hit back by imposing up to 25 percent tariffs on American steel and cheese starting from June,... and made it official that a 20 percent tariff will be imposed on American pork from Thursday.
As Mexico imported one billion dollars of pork from the U.S. last year,... such a measure is expected to hit American pork producers hard.
The European Union also condemned Trump's tariff policy,... imposing a 25 percent tariff on 180 goods produced in the U.S.
The world's largest economic bloc warned Washington that imposing import duties on cars and automobile parts would damage its own industry and lead to counter-tariffs on nearly 300 billion dollars of U.S. imports.
USA Today reports that the price of cars could jump by several thousand dollars once the Trump administration begins levying tariffs on imported cars.
The U.S. Department of Commerce is looking to slap tariffs of up to 25 percent on imported vehicles,... as instructed by President Trump, who said in May that continuing automobile imports at current levels could impair U.S. national security.
Kim Hyo-sun, Arirang News.
While China has warned of countermeasures,... the other members of NAFTA -- Canada and Mexico -- are slapping heavy duties on American imports.
Kim Hyo-sun tells us more.
Nations across the world are imposing retaliatory tariffs against the United States,... in response to the Trump administration's controversial tariff policy.
China has warned it's fully prepared to take countermeasures against Washington's hefty trade tariffs on Chinese imports that are due to take effect from Friday.
The U.S. plans to begin imposing a 25 percent tariff on Chinese goods worth 34 billion dollars.
"China is fully prepared to take a package of necessary measures in a comprehensive way to safeguard the interests of the country and the people, should the U.S. roll out the so-called tariff list."
Beginning this week, Canada slapped retaliatory tariffs on nearly 13 billion dollars of goods manufactured in America,... including chocolate, orange juice and coffee.
The move is in response to President Trump's levying of tariffs on Canadian aluminum and steel.
Mexico hit back by imposing up to 25 percent tariffs on American steel and cheese starting from June,... and made it official that a 20 percent tariff will be imposed on American pork from Thursday.
As Mexico imported one billion dollars of pork from the U.S. last year,... such a measure is expected to hit American pork producers hard.
The European Union also condemned Trump's tariff policy,... imposing a 25 percent tariff on 180 goods produced in the U.S.
The world's largest economic bloc warned Washington that imposing import duties on cars and automobile parts would damage its own industry and lead to counter-tariffs on nearly 300 billion dollars of U.S. imports.
USA Today reports that the price of cars could jump by several thousand dollars once the Trump administration begins levying tariffs on imported cars.
The U.S. Department of Commerce is looking to slap tariffs of up to 25 percent on imported vehicles,... as instructed by President Trump, who said in May that continuing automobile imports at current levels could impair U.S. national security.
Kim Hyo-sun, Arirang News.