Tariff
This is the first of potentially many vehicles that will be cut from the American market due to president's tariffs, warns industry expert.
"We’re just hoping this doesn’t last a long time."
Beijing had said it would retaliate with punitive measures on U.S. products worth about $34 billion, including soybeans, pork and cotton.
The EU is challenging the legality of the new tariffs and aims to hit U.S. goods with retaliatory measures.
WHAT'S HAPPENING
The investigation could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March.
The additional tariffs were being considered “in light of China’s unfair retaliation” against earlier U.S. trade actions, Trump said.
There’s a common thread between last week’s two biggest stories, and it isn’t that the U.S. is winning.
The Trump administration continues to face global criticism over its proposed tariffs on steel and aluminum.
Trump said “real friends” of the United States could win waivers from the new steel and aluminum measures.
The protectionist trade policy also threatens jobs in industries from Kentucky bourbon to Wisconsin cranberries.