The "China Shock" is revisited, and it raises questions about why economists failed to see the costs of free trade.
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Vance will likely use the summits to resist further AI regulation while reiterating a common Trump refrain: that military allies need to further ramp up spending that supports NATO and Ukraine.
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A tax on all imported steel and aluminum could give a helping hand to domestic steel and aluminum makers, but raise costs for businesses and consumers that buy the metals.
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The tariffs from China range from 10% to 15% and are applied to crude oil, liquefied natural gas, farm machinery and select other products from the U.S.
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President Trump's threats to impose new tariffs on European goods has led Americans to suddenly stockpile their favorite Italian wines, especially sparkling prosecco.
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Tariffs are now in effect on goods from China, and imports from Canada and Mexico could be next (again). Americans are likely to see higher prices on a wide variety of products as a result.
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Trump ordered tariffs against China, Canada and Mexico over the weekend. Canada and Mexico reached last-minute deals to pause those tariffs Monday.
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The auto industry has built a North American supply chain that ping-pongs parts between the U.S., Mexico and Canada. Tariffs of 25%, if actually imposed, would be costly for buyers and the industry.
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U.S. tariffs on Mexico and Canada will be put on hold for 30 days.
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President Trump wants to impose sweeping tariffs on Canada, Mexico and China. NPR's Steve Inskeep spoke with two economists who unpacked the repercussions for the United States.
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The White House says fentanyl smuggled to the U.S. justifies tariffs against Canada, China and Mexico. But fentanyl deaths and smuggling have been dropping fast — and Canada plays almost no role.