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Trump signaled the tariffs would affect “about $60 billion” of Chinese imports, but administration officials said the figure would be closer to $50 billion. The battle began when the United States imposed tariffs on solar panels and washing machines. It has led to a global tit-for-tat targeting billions of dollars of goods. March 9, 2018 -- Trump imposes tariffs on steel imports. Trump follows through on the tariffs recommended by his commerce department, taxing steel imports at 25% and imported aluminum at 10%. Two studies find that the cost of tariffs levied only during the year 2018, including both the direct cost and the deadweight loss from the tariff, totals $400 to $500 (see Fajgelbaum,... The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products valued at approximately $380 billion in 2018 and 2019, amounting to one of the largest tax increases in decades. The United States will impose a 10% tariff later this month on $200 billion worth of Chinese goods, increasing to 25% at the end of the year, the Trump administration announced Monday. The Trump administration began imposing tariffs on $34 billion worth of Chinese products on Friday, setting up a trade clash between the world’s two largest economies. In accordance with the direction of President Trump, the additional tariffs will be effective starting September 24, 2018, and initially will be in the amount of 10 percent. Starting January 1, 2019, the level of the additional tariffs will increase to 25 percent. President Trump, emboldened by America’s economic strength and China’s economic slowdown, escalated his trade war with Beijing on Monday, saying the United States would impose tariffs on $200...
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