trade

A trade war with China, the European Union and other trading partners is casting some doubts about the U.S. economic future, Federal Reserve Chairman Jerome Powell said Tuesday.

And the longer it goes, the more potential harm it could cause, Powell told the Senate Banking Committee at a hearing about the Fed's monetary policy and the economy.

China has filed a case with the World Trade Organization against the U.S. to protest the Trump administration's plan to put new tariffs on $200 billion worth of Chinese imports. China says the tariffs are illegal attempts at protectionism.

China's Ministry of Commerce announced it is pursuing legal remedy against the U.S. in a brief statement on its website — the latest in an escalating trade conflict between the world's two largest economies.

Gabe Rosenberg / WOSU

Buying The Columbus Dispatch at a newsstand will cost you double what it did last year. 

Updated at 2:50 a.m. ET on Wednesday

The Trump administration has published a preliminary list of additional Chinese products that could be targeted with tariffs in the escalating trade war between the world's two biggest economies. The list covers some $200 billion in Chinese exports that could be hit by a 10 percent tariff. It's an extensive list of over 6,000 goods that include seafood, propane and toilet paper, among many other things.

Several months into the Trump administration's aggressive rollout of tariffs on imported products, the results are piling up across the American business landscape. And not all of them are negative.

In Hillsboro, Ore., a solar plant got a second chance at life after tariffs on imported solar panels went into effect in January.

What A U.S.-China Trade War Could Mean For The Opioid Epidemic

Jul 6, 2018

The American struggle to curb opioid addiction could become collateral damage in President Donald Trump’s showdown on trade. 

Updated at 8:15 a.m. ET

As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

The Trump administration is doubling down on its trade rhetoric, even as other countries ready tariffs on American goods and U.S. business groups part company with the president over his trade policies.

As seen in recent weeks, how companies view President Trump's tariffs on foreign steel and aluminum depends a lot on what business they're in. 

More than $3 billion worth of U.S. goods — from bourbon and corn to Harley-Davidson motorcycles — are now subject to a 25 percent tariff in the European Union, in retaliation for the Trump administration's tariffs that hit the EU, Mexico and Canada this month.

"The trade that we believe in is built on rules, trust and reliable partnership," Jean-Claude Juncker, president of the EU Commission, said in a speech in Dublin on Thursday night. "The United States' decision to impose tariffs on Europe goes against that. In fact, it goes against all logic and history."

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