6 days Ago
This is CNBC's coverage of how U.S. trade partners, industries and employers respond to President Donald Trump's historic tariffs.
China's finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. The China tariffs take effect on April 10.
The move follows Trump's tariff announcement on April 2, where he instituted a 10% baseline tariff on all countries and much higher rates on many. He put a 34% tariff on China, though combined with preexisting tariffs, the effective rate is 54%. "China urges the United States to immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner," , according to a Google translation.
The weekend is looking like a breeze for Trump — if not for stock market investors hammered by the fallout from his new tariffs. The White House posted a tweet showing Trump walking with his hair, tie and suit jacket blown back from the wind, with the italicized message, The tweet's jaunty vibe contrasted with a metaphorical bloodbath on Wall Street, where the major stock indices all suffered big drops. luxury Infiniti brand has indefinitely paused production of two Mexico-built crossovers for the U.
S. in response to the newly imposed 25% tariffs on imported vehicles by Trump. In a memo to the brand's retailers, Infiniti Americas Vice President Tiago Castro said QX50 and QX55 output for the U.
S. is halted "until further notice" due to the tariffs, reported Thursday. A company spokesman confirmed the actions Thursday afternoon to CNBC and said the Japanese automaker is reviewing its "production and supply chain operations to identify optimal solutions for efficiency and sustainability.
" "We will continue to evaluate the impact, as well as market needs, to make any additional adjustments to production," Nissan said in an emailed statement. Separately, Nissan on Thursday confirmed it will maintain two shifts of production of the Nissan Rogue crossover at its Smyrna, Tennessee, plant that is free of the new auto tariffs. Nissan had planned to scale back Rogue production in Smyrna to a single shift starting this month.
Trump's tariff plan sent ripples through U.S. markets and baffled economists and investors alike.
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