President Trump on Friday threatened, and then paused, steeper tariffs on goods from the European Union. He also targeted Apple.
Since re-entering office, President Trump has announced a barrage of tariffs to try to rewire the global economy. The trade actions have taken effect in fits and starts and created wild swings in markets and fresh tension among some of America’s closest trading partners. They have drawn warnings from economists about an economic downturn that could punish consumers.
In April, Mr. Trump rolled out his most punishing tariffs yet on dozens of U.S. trading partners before abruptly reversing them for 90 days for every country except China to give governments time to make deals. On May 12, he temporarily paused the China tariffs. On Friday, he appeared to revive his global trade war by threatening steeper tariffs on the European Union; by Sunday, he had backed down.
European Union:
On Sunday, Mr. Trump said he would delay a 50 percent tariff on goods from the European Union until July 9. A couple days earlier, he said that discussions with the European Union were “going nowhere” and that steep tariffs would take effect in a week. The climb-down came after a weekend call with Ursula von der Leyen, president of the European Commission, who said that trade talks would advance “swiftly and decisively.”
Apple:
Mr. Trump also targeted the chief executive of Apple, Tim Cook, on Friday. He said he had told Mr. Cook he expected iPhones sold in the United States to be “manufactured and built in the United States, not India, or anyplace else” or face a 25 percent tariff.
China:
The United States and China on May 12 said they had reached an agreement to reduce the tariffs they have imposed on each other for 90 days while they try to negotiate a trade deal.
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The Tit-for-Tat Tariffs
Between the U.S. and China
April 9
145%
President Trump raised tariffs on Chinese
goods multiple times this year before
lowering the rates temporarily while
the two sides negotiate.
April 8
104%
March 26
25% on cars
and parts
Feb. 10
April 2
25% on steel
and aluminum
54%
May 12
30%
March 3
Feb. 1
20%
10% on all goods
April 11
125%
China retaliated against the tariffs with equivalent levies but has also agreed to a pause during ongoing talks.
April 9
84%
April 4
Feb. 4
March 4
10% on U.S. food and agricultural products
10% on natural gas, coal and farm machinery
34%
May 12
10%
The Tit-for-Tat Tariffs
Between the U.S. and China
President Trump raised
tariffs on Chinese goods
multiple times this year
before lowering the rates
temporarily while the
two sides negotiate.
April 9
145%
April 8
104%
March 26
25% on cars
and parts
Feb. 10
April 2
25% on steel
and aluminum
54%
May 12
30%
March 3
20%
Feb. 1
10% on all goods
China retaliated against
the tariffs with equivalent
levies but has also agreed
to a pause during
ongoing talks.
April 11
125%
April 9
84%
March 4
10% on U.S. food and agricultural products
Feb. 4
April 4
10% on natural
gas, coal and farm machinery
34%
May 12
10%
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