A new 10% tariff on Chinese goods took effect earlier this week.
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Deadline For Trump’s Federal Buyout Offer Extended By Court—As Over 65,000 Staff Agree To Leave: Here’s What To KnowPresident Donald Trump said he will announce reciprocal tariffs next week that would allow the U.S. to impose tariffs equal to those other countries impose on U.S. goods—the latest move that could push the U.S. closer to a trade war.Oval Office of the White House in Washington, DC, on February 7, 2025.
A group of House Republicans, led by Rep. Riley Moore, R-W.Va., introduced legislation last month that would give Trump unilateral authority to assign reciprocal tariffs, though he would be required to notify Congress, which could pass a resolution disapproving the move.. Canada, the U.K., and Europe “all impose lower taxes on American manufactured goods than the U.S. imposes on comparable imports,” former Sen. Pat Toomey, R-Penn.
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