Uncertainties about Trump's tariffs see big swings in markets; Crypto currencies mostly positive after Trump promised US would be ‘crypto capital’ of planet - Anadolu Ajansı

The Trump administration’s tariffs are causing a significant shift in supply chains and diplomacy, with major U.S. corporations and trading partners scrambling to cope with the new rules.

Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.

China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

While the president’s tariffs have had wide-ranging effects, perhaps the most constant consequence has been a sense of uncertainty. With the president once again threatening new tariff rates on the European Union, Mexico, Canada, and many countries in Southeast Asia, consumers are bracing for impact.

With summer in full swing in the United States, retail executives are sweating a different season. It’s less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices.

WASHINGTON — President Trump will soon travel to China — likely to talk tariffs and other issues, Secretary of State Marco Rubio revealed Friday following a meeting with his counterpart from Beijing.

The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States.