May 10, 2019

As midnight strikes, Trump's China trade war spikes

Axios

Photo: Alex Wong/Getty Images

President Trump raised tariffs on $200 billion of Chinese goods from 10% to 25% overnight on Friday, as he threatened to do earlier this week, and could move to impose new tariffs on all Chinese exports to the U.S.

Why it matters: This increase "made clear that Mr. Trump sees tariffs as a winning tactic, both internationally ... and at home with Congress," the Wall Street Journal writes. Beijing said it plans to retaliate to the tariff spike.

What's next: Talks between the U.S. and China are set to resume later today, but "some close observers said they were not hopeful for any meaningful breakthroughs," per Bloomberg.

Go deeper: How tariffs on China could hit the U.S. hard, too

Go deeper

Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 1,014,673 — Total deaths: 52,973 — Total recoveries: 210,335 — Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 244,678 — Total deaths: 5,911 — Total recoveries: 9,058 — Map.
  3. 2020 updates: The Democratic National Committee said its July convention will be postponed until August because of the coronavirus. A federal judge declined to delay Wisconsin's April 7 primary election.
  4. Jobs latest: Coronavirus unemployment numbers are like a natural disaster hitting every state.
  5. Public health latest: Anthony Fauci called for all states across the U.S. to issue stay-at-home orders. The FDA will allow blood donations from gay men after 3-month waiting period, citing "urgent need."
  6. Business latest: Treasury Secretary Steven Mnuchin said oil companies are eligible for aid from new lending programs the Federal Reserve is setting up, but not direct loans from his department.
  7. U.S.S. Theodore Roosevelt: Navy removes captain of aircraft carrier who sounded alarm about coronavirus.
  8. 1 future thing: In developing countries, consequences of COVID-19 could be deeper and far more difficult to recover from.
  9. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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