President Donald Trump says he wants to save the U.S. auto industry by slapping tariffs as high as 25 percent on foreign-made cars, but there’s a problem: Automakers don’t want his help.
The White House thinks the penalties would encourage domestic investment and automotive production and support U.S. workers — and Trump is pressing his staff to speed up the move so he can claim credit for it before the midterm elections.
Nearly 20 percent of China’s exports go to the U.S. If a trade war ensues with the U.S., China’s GDP growth would drop 0.5 percent and could continue to fall as things heat up, the IMF warns. China’s debt-to-GDP has ballooned to more than 300 percent from 160 percent a decade ago. Chinese officials now warn […]
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