Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Brazil's Industry Ministry on Thursday expressed "enormous concern" about the proposed U.S. tariffs and underscored that Brazil may take "multilateral or bilateral" action to protect its interests.
The ministry said its steel industry was not a threat to the United States, noting that 80 percent of its steel exports are semi-finished products that serve as an important input for the American steel industry. The statement also noted that Brazil is the biggest importer of metallurgical coal from the United States.
Earlier on Thursday, U.S. President Donald Trump said he would impose hefty tariffs on imported steel and aluminum to protect U.S. producers, risking retaliation from major trade partners like China and Europe and helping trigger a large selloff on Wall Street.
Brazil is the second-largest source of steel imports into the United States after Canada, accounting for 13 percent of volume in 2017, according to U.S. Commerce Department figures.
Two of Brazil's largest steelmakers, Cia Siderurgica Nacional and Usiminas sold off on the tariff news, closing down 4.4 percent and 4.2 percent, respectively.