Senate Finance Chairman Chuck Grassley expressed cautious support for President Trump's plan to raise tariffs on more than $500 billion in Chinese goods
Senate Finance Chairman Chuck Grassley on Tuesday expressed cautious support for President Donald Trump's plan to raise tariffs on more than $500 billion in Chinese goods.
Trump also intends to begin steps to impose a 25 percent duty on another $325 billion worth of Chinese goods. If those duties are eventually imposed, that would essentially cover all U.S. imports from the world's second largest economy, given that a 25 percent duty onGrassley said Trump deserved to be "applauded" for being the first president to make tough demands on Beijing to curb trade practices that the U.S. side says disadvantage American companies.
"I urge the Chinese negotiators to bring these talks to a halt, with a successful close, so we can avoid prolonged tariffs, which we know have an impact on the U.S. economy," Grassley said.By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. Trump's expanded tariff action could boost prices of many everyday consumer items that retailers heavily source from China, such as clothing and consumer electronics. Manufacturers will also pay more for many intermediate goods, like chemicals and parts, which are used to make final goods in the U.S.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grassley to meet with Trump after issuing ultimatum on trade“If these tariffs aren’t lifted, USMCA is dead,” Sen. Chuck Grassley wrote in the Wall Street Journal Sunday. Now, he's meeting with Trump on Thursday.
Read more »
Trump officials’ military threats divide Senate GOPAs the odds of military intervention against Venezuela and Iran appear to rise, some of Trump’s top allies on Capitol Hill are divided over whether the president needs the approval of Congress to move forward with the use of force
Read more »
Senate confirms 100th Trump judicial nomineePresident Trump and Senate Republicans celebrated a milestone when they confirmed their 100th judge appointed by Trump, leaving a significant imprint on the judicial branch that could last for decades after Trump leaves office
Read more »
Trump Administration Backs Plan for More H-2B Visas, Irking Critics of Immigrant Labor RulesThe Trump administration is moving ahead to allow an additional 30,000 seasonal workers to return to the U.S. this summer; the White House had earlier indicated it was leaning toward only an additional 15,000 such visas.
Read more »
Trump praises Barr’s performance at tense Senate hearing: AG was 'really, really solid and did a great job'Democrats 'are very devastated because they looked at the report and there was absolutely no collusion and there’s no obstruction,' Trump reiterated on Wednesday after Barr's Senate hearing.
Read more »
‘Quit thinking like a New Yorker’: GOP smacks Trump on tradeSenate Republicans say that unless Trump removes steel and aluminum tariffs on U.S. allies, his NAFTA replacement isn’t going anywhere
Read more »