Economy

Updated at 3:57 a.m. ET Saturday

President Trump is enacting a 25 percent tariff on $50 billion of Chinese goods "that contain industrially significant technologies," after months of exchanging threats amid concerns over a potential trade war.

U.S. Customs and Border Protection will begin to collect tariffs on the first $34 billion worth of Chinese imports on July 6. A second set of imports subject to tariffs is still under review.

Flickr.com

An Ohio State study finds that some Ohio farmers could lose more than half of their annual income if a threatened 25 percent tariff goes into effect on soybeans and corn sent to China.

Updated at 7:16 p.m. ET

President Trump is calling on the Group of 7 to readmit Russia to the group of leading economic powers, saying "we should have Russia at the negotiating table."

Moscow was kicked out of the group, then the G-8, four years ago after it annexed Crimea. It had been invited to join the group in the 1990s after the collapse of the Soviet Union. But after Russia's intervention in Ukraine and annexation of Crimea, Western leaders sought to isolate Vladimir Putin's government.

John Minchillo / Associated Press

Sen. Rob Portman (R-Ohio), who was the U.S. trade representative for the George W. Bush administration, is expressing concern over the steel and aluminum tariffs President Trump plans to impose on Canada

Construction near Ohio State's Wexner Medical Center.
Nick Evans

A federal tax incentive meant to drive private investment to neglected areas took effect in April for 43 Columbus-area Census tracts. So, why are some of those tracts already flush with private investment?

Updated at 6:37 p.m. ET

The Trump administration made good on threats to impose tariffs on some of the nation's closest allies Thursday, announcing it will no longer exempt Canada, Mexico and the European Union from previously announced levies on steel and aluminum.

The announcement was made in Paris by Commerce Secretary Wilbur Ross.

Canal Winchester Development Director Lucas Haire
Nick Evans / WOSU

Brick buildings run straight through Waterloo Street in old town Canal Winchester; just across the intersection, the restaurant patios along High Street are full from the lunch rush. This is the historic center of Canal Winchester, just southeast of Columbus.

One out of five Americans say they personally know someone who has been addicted to opioids or prescription painkillers, according to a new report about the economic well-being of U.S. households.

The Federal Reserve report, based on a national survey, also found that exposure to opioid addiction was twice as likely among whites, regardless of education level, as among African-Americans.

Columbus skyline at dusk
tpsdave / Pixabay

Ohio is increasingly viewed as a business friendly state, according to the latest survey by Chief Executive Magazine. Ohio was ranked 10th among states, an improved showing that suggests Ohio may have shed its Rust Belt reputation.

Nick Evans / WOSU

Standing on a corner in the Milo-Grogan neighborhood, Jack Kakura rattles off commute times—seven to 10 minutes to downtown, 10 minutes to the airport, maybe 15 to Easton.

Kukura, who directs investments for Ohio Capital Corporation for Housing, stands in front of two properties his organization developed a number of years ago and set aside as affordable housing for 30 years.

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