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China struck back, announcing it would implement 34% retaliatory tariffs on all US imports.
The New York Times |
Kevin Hassett, the head of the White House National Economic Council, said that he did not expect to “see a big effect on the consumer in the U.S.,” even as he acknowledged in an appearance on ABC’s “...

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Retaliate or capitulate? How countries are responding to Trump's tariffs
Some countries, like China, have already set countermeasures to Trump's tariffs, while others are looking to negotiate exemptions.
What are the ‘Dirty 15’ countries that will be most affected by Trump’s tariffs?
President Donald Trump is planning to reveal his most sweeping tariffs on Wednesday, a move he called “Liberation Day” because the tariffs’ goal is to free the United States from reliance on foreign imports.
Trump Tariffs: See Which Countries Have the Highest Rates
President Trump unveiled sweeping tariffs that included actions on dozens of countries at very high levels.
Trump Says Tariffs Will Stay Until Trade Deficit Disappears
The president said he would not quickly reverse last week’s steep tariffs, which have sparked pushback and roiled markets.
How Trump tariffs could impact your 401(k)
Coordinated nationwide protests against the Trump administration drew large crowds. Business Insider was there. On a day where global markets were plunging, the president somehow thought a cryptic five-word all caps post on his Truth Social platform would ease minds.
EU seeks unity in first strike back at Trump tariffs
European Union countries will seek to present a united front in the coming days against U.S. President Donald Trump's tariffs, likely approving a first set of targeted countermeasures on up to $28 billion of U.
Trump announced double-digit tariffs on dozens of countries. Here's what the US imports from some of the most affected ones.
Trump slapped dozens of countries with broad tariffs. They'll impact goods the US imports from major trading partners like China and the EU.
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Tariffs Explained: As Markets Crater, What Trump's Import Taxes Mean for You
During the 2024 campaign, Trump repeatedly claimed that the country from which an imported good is coming pays the cost of the tariffs and that Americans would not see any price increases from them. However, as economists and fact-checkers stressed, this is not always the case.
How new global tariffs could affect the art market: L.A. arts and culture this week
How Trump's 'Liberation Day' could affect artists, galleries and collectors; plus Latino Theater Co.'s 40th season launches, choreographer Will Rawls at REDCAT and more.
How will Trump tariffs affect Oklahoma? These industries may see greatest impact
Donald Trump placed tariffs on virtually every other country in the world. Here is how Oklahoma relies on global trade.
How tariffs work and why they are a key part of Trump's agenda
The Trump administration has given a variety of reasons and mixed messages for ratcheting up the tariffs charged on goods coming into the United States.
Which products will be affected by tariffs? Here's what Trump's "Liberation Day" could make pricier.
President Trump rolled out new tariffs on April 2 aimed at easing trade imbalances. Here's which products could become more expensive as a result.
Tariffs explained: What they are and how they affect smartphones
US President Donald Trump has instituted many different tariffs on non-US goods entering the country. What does this mean for your next phone?
The U.S. Just Imposed Sweeping Tariffs on All Imports. Here's How Walmart Stock Might Be Affected.
The Trump administration announced widespread tariffs on April 2, saying it aimed to level the playing field for America in global trade. The new policies levy a 10% tariff on all imports, with higher "reciprocal" tariff rates applied to a list of "the countries with which the United States has the largest trade deficits.
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