Trump tariffs live updates: Cell phones, chips and laptops get a reprieve from tariffs; China hikes tariffs on US goods to 125%

Key Points

  • China has escalated its tariffs on US imports to 125% in response to President Trump's tariff hikes, intensifying the US-China trade war.
  • The Trump administration warned China against retaliation and suggested a call between Presidents Trump and Xi Jinping, but China hinted at not engaging in further tariff hikes.
  • US soybean farmers face significant losses as China imposes high tariffs on US agricultural products, potentially shifting its imports to other countries like Brazil.
  • European travelers are canceling trips to the US due to Trump's border and tariff policies, affecting tourism forecasts.
  • The uncertainty around tariffs is causing market fluctuations, with fears of economic slowdown and potential recession.

Summary

The ongoing trade war between the US and China has escalated with China increasing its tariffs on US imports to 125% in retaliation to President Trump's tariff hikes. This move has further strained relations and intensified the economic conflict, impacting global markets and investor sentiment. Despite a 90-day pause on some US tariffs, the uncertainty continues to weigh on businesses and consumers. The Trump administration has attempted to engage with China, suggesting a call between the leaders, but China has indicated reluctance for further tariff escalations. American soybean farmers are particularly hard-hit, facing potential losses as China looks to diversify its agricultural imports, possibly turning to Brazil. Additionally, European travelers are reconsidering trips to the US due to Trump's policies, leading to a significant drop in tourism forecasts. The fluctuating tariff policies have also caused market volatility, with concerns about economic growth and inflation rising, as noted by Federal Reserve officials. The situation remains fluid, with ongoing negotiations and policy adjustments affecting various sectors from agriculture to electronics and travel.

yahoo
April 13, 2025
Stocks
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