China, tariffs
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China won First round of trade war with U.S., analysts say
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Beginning Wednesday, shipments arriving in the United States from China and Hong Kong worth less than $800 could face 54 percent tariffs.
Senate Democratic Leader Chuck Schumer comments on the latest events in President Trump's tariff war with China: SEN. CHUCK SCHUMER: Early this morning, it was reported that Donald Trump caved to Xi Jinping and the Chinese Communist Party with virtually nothing to show for American workers.
China and US have also agreed to take "aggressive" measures to curb the flow of fentanyl, which could then result in the elimination of the extra 20% levy.
For years, the leader of China has planned to make the world dependent on its exports and know-how. But the strategy has costs for his own country.
The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.