The International Monetary Fund has upgraded its economic outlook for the United States in 2018 and foresees a strong year for the global economy as well. But its chief economist warns that a major trade conflict could change things.
Indiana's three Republican Senate candidates continue to voice support for President Donald Trump's trade brinkmanship with China, even as experts warn that a trade war could drive farmers into bankruptcy.
Now in a tit-for-tat fight with the United States, the global superpower vowed Friday to retaliate if President Donald Trump makes good on his threat to apply tariffs to an additional $100 billion worth of Chinese goods.
President Trump's surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.
The trade gap has continued to rise since Trump entered the White House partly because the U.S. economy is strong and American consumers have an appetite for imported products and the financial wherewithal to buy them.
Beijing's list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American complaints that it pressures foreign companies to hand over technology.
Unswayed by Republican warnings of a trade war, President Donald Trump ordered steep new tariffs on steel and aluminum imports to the U.S. on Thursday, vowing to fight back against an "assault on our country" by foreign competitors.
Ordering combative action on foreign trade, President Donald Trump declared Thursday that the United States will impose steep tariffs on steel and aluminum imports, escalating tensions with China and other trading partners.