US trade

Biden launches new US trade probe into legacy Chinese chips

The Biden administration on Monday announced a last-minute trade investigation into Chinese-made "legacy" semiconductors that could heap more U.S. tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear. The "Section 301" probe, launched just four weeks before President-elect Donald Trump takes office on Jan. 20, will be handed over to his administration in January for completion, Biden administration officials said. The effort could offer Trump a ...

November 27, 2024 9:51 AM

Trump tariffs would harm all involved, US trade partners say

Officials from Mexico, Canada and China and major industry groups warned that U.S. President-elect Donald Trump's threat of hefty tariffs on goods would harm the economies of all involved, cause inflation to spike and damage job markets. Trump's pledge announced on Monday roiled currency, bond and equity markets on Tuesday, as the three countries are the United States' largest trading partners. Mexico and Canada are particularly intertwined in U.S. auto production and energy output thanks to de...