The United States on Wednesday said it would slap 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskeys, and cheese from across the continent as punishment for illegal EU aircraft subsidies.
U.S. President Donald Trump said on Monday Washington had struck trade agreements with Tokyo that could be implemented without congressional approval, but stopped short of assuring Japan that new tariffs would not be slapped on vital auto exports.
The United States and China gave signs on Thursday that they will resume trade talks as the two economic superpowers discussed the next round of in-person negotiations in September ahead of a looming deadline for additional U.S. tariffs.
China signaled on Monday it was now seeking a 'calm' end to its ongoing trade war with the U.S., as Asian markets crumbled and China's currency plummeted to an 11-year low following the latest tariffs on $550 billion in Chinese goods announced last Friday by the Trump administration.
President Trump on Friday directed all U.S. businesses to immediately find alternative sources for any goods they were importing from China. The comments came in response to China's announcement earlier in the day that it was enacting additional tariffs on $75 billion worth of U.S. goods.
The economy is on everyone's mind this week as fears about a possible recession continue to capture headlines. Now, the Bureau of Labor Statistics has released some revised employment numbers showing 500,000 fewer jobs were created than initially reported.