A series of swipes at American companies show how China could take the initiative in a new trade war, using its economic dominance to exact pain.

The U.S. dollar steadied against major peers on Wednesday as investors continued to take stock of President-elect Donald Trump's tariff pledges, while keeping an eye on a key inflation figure out of the U.S. later in the day.

While the announcement is almost certainly bluster to bring attention to illegal immigration and fentanyl smuggling, there are several reasons why it is so risky.

If enacted, they would violate the 2020 deal that the United States inked with Canada and Mexico during Donald Trump’s first term.

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products.

No One Will Win a Trade War,' China Says After Trump Tariff Threat WASHINGTON (Reuters) - Neither the United States nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after U.

President-elect Donald Trump has just declared his intention that, on his first day in office, he will impose 10 per cent tariffs on all US imports from China, including those already subject to such levies.

Trump announced plans to impose 10% tariffs on Chinese goods “above any additional Tariffs,” after blaming the country for the inflow of illegal fentanyl into the U.S.

By bno - Taipei Office China has responded defiantly to US President-elect Donald Trump’s pledge to impose additional tariffs on Chinese imports, accusing him of using the fentanyl crisis as a pretext for trade escalation.