On 2 April, President Trump announced the U.S. will impose a minimum baseline of 10 percent tariffs on all imported goods into the U.S. as well as higher reciprocal tariffs on exporting countries that impose tariffs on U.S. goods. Countries that will see tariffs higher than the baseline 10 percent include the European Union, China, and Israel. Trump said at the time, For nations that treat us badly, we will calculate the combined rate of all their tariffs, non-monetary barriers and other forms of cheating, and because we are being very kind, we're a kind people, very kind … we will charge them approximately half of what they are and have been charging us. China faced substantially higher import duties, with the president hiking tarif...

TAGS – China, North America, Macroeconomics