11hon MSN
China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war.
U.S. trading partners have few good options in their trade war with President Donald Trump, other than to sue for peace.
The administration is trying to head off painful retaliatory measures, forcing big trading partners to decide whether fighting is worth it.
California Gov. Gavin Newsom said he will speak to world leaders to shield his state from retalitory tariffs.
In response to President Trump's "Liberation Day" tariffs announcement, the California governor said he was exploring ways to protect his state from cost hikes.
The European Union is dialing back the pace of its planned retaliation against U.S. steel and aluminum tariffs, a senior official said Thursday. The move comes after U.S. Treasury Secretary Scott Bessent warned trading partners might risk still higher levies if they retaliate.
California Gov. Gavin Newsom announced plans Friday to counter President Donald Trump's tariff hikes, asking countries to exempt California exports from retaliatory taxes.
"We have to hit Republican states and we have to hit Donald Trump's friends," a top European official told his colleagues.