Major indexes in Asia and Europe posted gains and U.S. futures climbed in premarket trading.
Major indexes in Asia and Europe posted gains and U.S. futures climbed in premarket trading.
Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
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China is shipping more goods to Southeast Asia and other regions that often re-export them to the United States. China still sells three times as much to the United States as it buys.
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The duties, which the president announced last week, took effect for about 90 countries just after midnight.
Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.
President Trump fired the head of the Bureau of Labor Statistics last week and described a jobs report that included a big downward revision as “rigged.”
Imports from other countries fell around 4 percent from the previous month as President Trump’s steep tariffs discouraged businesses from ordering goods.
President Trump is using an “Art of the Deal” approach to get trading partners to hand over cash to lower their tariffs.