Rolling coverage of the latest economic and financial newsWhy has US-China trade war restarted and how have markets reacted?The US also began imposing tariffs on imported lumber, kitchen cabinets and some furniture today.The new levies, announced by Donald Trump last month, will introduce a 10% tariff on imports of softwood lumber, while duties on certain upholstered furniture and kitchen cabinets start at 25%.“The 100% tariff does not have to happen. The relationship, despite this announcement last week, is good. Lines of communication have reopened, so we’ll see where it goes.”“President Trump said that the tariffs would not go into effect until November 1. He will be meeting with Party Chair Xi in Korea. I believe that meeting will still be on.” Continue reading...
Saturday 18 October 2025
theguardian - 4 days ago
US treasury secretary accuses Beijing of trying to damage global economy, as US and China roll out tit-for-tat port fees – business live
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