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Even as growth ramps up to what could be the fastest rate since before the financial crisis, economists are worried that a trade war could tip the U.S. into a significant slowdown or even a recession. Fears over a GDP pullback comes as President Donald Trump threatens another more severe round of tariffs aimed both at China and the European Union.
As China and the U.S. near a trade war, both nations bring different weapons to the table. For the U.S., it’s direct tariffs on the plethora of goods it imports, while for China the calculus is a little different.
Steve Liesman reports on the economic consequences from the Trump administration’s trade polices.
Trump says he’s taking the action “in light of China’s theft of intellectual property and technology and its other unfair trade practices.”
Eamon Javers reports on the White House imposing 25% tariffs on steel and 10% tariffs on aluminum for America’s biggest trading partners.
Contessa Brewer reports dairy farmers across eight states are struggling as big retailers, such as Walmart and Kroger, get into the milk business.
China is reportedly looking to line up other countries against the U.S. in a pending trade war, after the White House announced an unexpected move forward on trade tariffs.
Kayla Tausche reports on the status of trade talks between the U.S. and China and the U.S. and its NAFTA allies.
As the threat of a trade war looms, Kate Roger takes a look at the concerns of some small business owners in the U.S.
“I don’t know if we’ll have tariffs or not,” Larry Kudlow says.
Treasury Secretary Steven Mnuchin shares his trade policy views on CNBC’s “Power Lunch” Friday.
Steve Liesman takes a look at how trade deficits could impact the economy.
China has retaliated against the US, proposing new tariffs on $50 billion worth of US goods. This news comes a day after the White House imposed its own tariffs on Chinese goods.
Eunice Yoon reports on how the Chinese government views Washington’s tariff announcement.
China announces new tariffs on 106 U.S. products, including soybeans, cars and whiskey.