Trump's explosive trade play on China
- The Trump administration is working on an executive order that would initiate investigations into "unfair" product dumping from foreign companies - an action that could lead to tariffs on a wide range of products.
These plans are very fluid, and internal disagreements remain about how aggressive this order should be. Here's what I've learned from administration sources:
Other products, including household appliances, could be targeted as well.
If the investigations result in new import duties - as some senior Trump officials believe should happen - it could make some consumer goods more expensive and could hurt the stock prices of American companies that rely on cheap steel imports. A good number of American manufacturing companies, however, could benefit from this hit to their low-cost competitors.
A White House official said this investigation is part of Trump's effort to protect American jobs and end unfair trade practices like dumping and foreign government subsidization.(Excerpt) Read more at: axios.com ...
- Photo credit(s): axios.com