Newly announced Chinese tariffs will raise prices on many U.S. crops. How will that affect American farmers? NPR's Mary Louise Kelley spoke with Jim Zion, a Californian nut distributor, to find out.
Agricultural products such as wine, nuts and frozen pork are on China's tariff list of U.S. goods, which comes in retaliation to a similar move by the Trump administration.
The Dow lost a total of more than 1,100 points in the past two days amid rising trade tensions between the U.S. and China. Japan's Nikkei dived 4.5 percent, and indexes also fell in Europe.
The Dow Jones industrial average tumbled nearly 3 percent Thursday after the Trump administration announced plans to impose tariffs on Chinese imports.
After President Trump unleashes new tariffs, China has a number of key U.S. imports — from soybeans to airplanes and iPhones — that it can choose to strike back against.
While speaking to Republican donors, Trump said he told Canadian Prime Minister Justin Trudeau that the U.S. has a trade deficit with Canada, while admitting he really "had no idea."
The steel and aluminum tariffs are based on the idea that these homegrown industries are critical for national security purposes. But global supply chains make it tough for the U.S. to go it alone.