Connect with us

News

China announces 34% retaliatory tariffs on US imports

Published

on

China announces 34% retaliatory tariffs on US imports

Unlock the White House Watch newsletter for free

China has announced duties of 34 per cent on all US imports in retaliation to Donald Trump’s tariffs, moving the world closer to a full-blown trade war as the US president vowed he would never back down.

Global stock markets extended their losses on Friday after Beijing’s statement, with the S&P 500 down 2.4 per cent at its open and the Europe-wide Stoxx 600 4 per cent lower.

“CHINA PLAYED IT WRONG, THEY PANICKED — THE ONE THING THEY CANNOT AFFORD TO DO!” Trump posted on his Truth Social network just before Wall Street began trading for the day.

Advertisement

The new Chinese tariff matches the US president’s latest increase in duties on Beijing and comes on top of a previous tit-for-tat round this year.

The country’s Ministry of Commerce said on Friday that it would be imposed on all US imported goods from April 10, a day after America’s “reciprocal” levies come into effect.

Beijing’s move was accompanied by a slew of other measures, including restrictions on rare earth exports and a probe of the China subsidiary of DuPont, the US chemicals giant.

Trump said he would persist with his policy, which will take Washington’s tariffs to their highest for more than a century, despite the falls on Wall Street and other stock exchanges around the world.

“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he posted. “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!”

Advertisement

The US president’s announcement this week of the 34 per cent tariff on Chinese imports to the US will take average US tariffs on Chinese goods to 76 per cent, according to analysis by the Peterson Institute of International Economics.

That figure is well above the 60 per cent Trump threatened during last year’s election campaign.

Beijing, which had previously considered such a level of tariffs as a worst-case scenario, denounced the new US duties as “a typical unilateral bullying move”.

It added that this week’s round of US tariffs “does not comply with the rules of international trade and seriously damages the legitimate rights and interest of China”.

Leah Fahy, a China economist at Capital Economics, said in a research note that Beijing’s new 34 per cent retaliatory duty pushed the country’s average tariff on US imports up to about 50 per cent, and marked a “significant escalation”.

Advertisement

Some content could not load. Check your internet connection or browser settings.

The latest measures are likely to have the most impact on US agricultural exports, including soyabeans, wheat and corn. China is also a significant importer of pharmaceuticals, crude oil, petroleum gas and liquefied natural gas from the US.

The trade war comes at a sensitive moment for Chinese President Xi Jinping, who has leaned on exports to steer the world’s second-largest economy through a property sector slump and deflation.

Alicia García-Herrero, chief economist for Asia-Pacific at Natixis, said Beijing’s latest round of tariffs suggested it was trying to position itself to be first in line for high-level negotiations with Washington.

Trump’s move to impose steep tariffs on US trading partners around the world has convulsed markets. On Thursday, about $2.5tn in market value was erased from Wall Street stocks and all of the dollar’s post-election gains were wiped out.

Advertisement

As the falls continued on Friday, the FTSE 100 slumped 3.5 per cent and Germany’s Dax lost 3.8 per cent.

Some content could not load. Check your internet connection or browser settings.

Investors swept into US Treasuries, pushing the 10-year yield down 0.13 percentage points on the day to 3.93 per cent.

Beijing is among the biggest targets of the “reciprocal” tariffs unveiled by Trump, who had already imposed a separate duty of 20 per cent on Chinese goods earlier this year.

Andrew Gilholm, head of China analysis at consultancy Control Risks, said Beijing could suffer “major self-inflicted damage” from fully matching US tariffs, given China’s trade surplus with the US and the tariffs it already has in place.

China announced export bans on seven types of rare earths on Friday, while US tech companies, including drone makers Skydio and Brinc Drones, were added to its “unreliable entity” list, which bans Chinese suppliers from selling components to them.

Advertisement

News

Former Olympian pleads not guilty in reflecting pool vandalism charges

Published

on

Former Olympian pleads not guilty in reflecting pool vandalism charges

Former U.S. Olympian David Hearn (left) walks with his attorney Norman Eisen to speak to reporters and protesters gathered after his arraignment at the Superior Court of the District of Columbia in Washington, D.C. on Thursday.

Finn Gomez/Getty Images


hide caption



toggle caption

Advertisement

Finn Gomez/Getty Images

Former U.S. Olympic canoeist David Hearn pleaded not guilty to damaging the Lincoln Memorial Reflecting Pool in D.C. Superior Court Thursday morning.

Federal prosecutors charged Hearn with a single count of destruction of property causing more than $1,000 in damage to the pool.

Hearn has previously claimed, which his attorneys repeated during a short press conference outside the court, that he simply touched the water in the pool out of curiosity.

Advertisement

The Trump administration had just completed a $14 million renovation of the pool.

But shortly after the work finished, peeling paint and algae gathered in the water. The remodel has been largely criticized as a massive failure and waste of taxpayer dollars.

Superior Court Judge Carmen McLean released Hearn on his own recognizance. His next hearing is scheduled for Aug. 5.

Norm Eisen, one of Hearn’s attorneys, spoke to reporters outside of court following the hearing. He said the administration is using Hearn as a “scapegoat … for their own failures.”

“It is not a crime to touch the reflecting pool, to touch water in the United States of America,” he said.

Advertisement

Prosecutors say there is a host of evidence against Hearn.

This is a developing story.

Continue Reading

News

Three more people charged with damaging Reflecting Pool after Trump’s multimillion-dollar restoration | CNN Politics

Published

on

Three more people charged with damaging Reflecting Pool after Trump’s multimillion-dollar restoration | CNN Politics

Three more people have been criminally charged with destruction of property at the Lincoln Memorial Reflecting Pool.

Officers say they detained Cameron Thiers, Sophie Dennison-Gibby and Justin Carreno one Saturday afternoon in June and described in court documents witnessing them peeling and removing pieces of blue paint from the Reflecting Pool.

One officer “witnessed Carreno reach down into the reflecting pool and pull up a piece of the blue paint,” according to the court documents.

The officer who detained Dennison-Gibby “found 1 additional piece of the reflecting pool liner” in her purse, the documents said.

All three incidents were recorded on the officers’ body worn cameras, they said in the court documents.

Advertisement

Several “partnering law enforcement agencies assigned to the Reflecting Pool” working with US Park Police were involved in detaining the two men and one woman — including officers from Texas, Oklahoma, Montana and California.

One of the officers said in court documents that Thiers “admitted to removing a piece of blue sealant from the Reflecting Pool and still had it in his hand when I made contact with him.”

The three defendants were arraigned in court Wednesday and pleaded not guilty to the misdemeanor charges of destruction of property with a value less than $1,000. The judge ordered them to stay away from the Reflecting Pool.

Lawyers for Thiers and Dennison-Gibby declined to comment. CNN has reached out to Carreno’s attorney.

If found guilty of destruction of property, the defendants could be fined up to $1,000 and face a maximum of 180 days behind bars.

Advertisement

The New York Times first reported that three additional people had been charged with damaging the Reflecting Pool.

President Donald Trump has repeatedly claimed that vandals caused major damage to the pool by gashing the lining after his administration spent more than $14 million on renovations, though he has not provided evidence to support that claim. The officers who charged Carreno, Thiers and Dennison-Gibby did not accuse them of gashing the lining.

Former Olympic canoeist David Hearn was indicted by a grand jury in Washington, DC, last week for allegedly damaging the Reflecting Pool. Hearn — unlike Carreno, Thiers and Dennison-Gibby – was charged with destruction of property with a value of more than $1,000 which carries a maximum penalty of 10 years in prison, if convicted. He is set to be arraigned in court Thursday.

Crews began draining the Reflecting Pool over the weekend to make repairs, according to Interior Secretary Doug Burgum, for the second time in three months.

The move comes after weeks of problems – algae blooms, green-hued water, a chipping bottom and the administration’s allegations of vandalism – that have plagued the iconic landmark, making its woes the subject of national interest.

Advertisement
Continue Reading

News

Supreme Court financial disclosures reveal how their books add to their income

Published

on

Supreme Court financial disclosures reveal how their books add to their income

Supreme Court Justice Amy Coney Barrett speaks at the Reagan Library on Sept. 9, 2025, in Simi Valley, Calif. Barrett discussed and signed copies of her new book, Listening to the Law: Reflections on the Court and Constitution.

Mario Tama/Getty Images


hide caption



toggle caption

Advertisement

Mario Tama/Getty Images

Even as the Supreme Court was handing down one legal thunderbolt after another last week, the justices were quietly releasing their annual financial reports. Justice Samuel Alito was the only sitting justice to request an extension, which he has done for 15 years. The disclosures do not give a complete account of the justices’ total income and wealth, but they give insights into their concertgoing, guest professorships and even their involvement in youth sports.

In addition to their salaries, much of the justices’ reported income came from their book deals. Justice Ketanji Brown Jackson led the pack earning more than $1.1 million last year for a total of roughly $4 million since her memoir, Lovely One, was published in 2024.

Justices Sonia Sotomayor, Neil Gorsuch, Amy Coney Barrett and retired Justice Anthony Kennedy also reported income from published books. Earnings from their books ranged from $849,000 for Barrett, to $300,000 for Gorsuch and $88,000 for Sotomayor, whose books include her 2013 autobiography and five children’s books. Justice Clarence Thomas, who previously earned $1.5 million for his 2007 memoir, listed no publisher payments last year, and Justice Brett Kavanaugh, one of 13 co-authors of a 2016 legal treatise, also received no payments last year. Kavanaugh is said to be working on a memoir but he listed no payments for the anticipated book. Alito does have a book coming out in the fall, but with his financial report still outstanding, there is no data on how much he was paid for the work in 2025.

Advertisement

The only two sitting justices who have not written books are Chief Justice John Roberts and Justice Elena Kagan.

Many justices also earned income from teaching at law schools. Roberts reported income from New England Law, located in Boston, and Gorsuch reported teaching income from George Mason University in Virginia. Thomas taught classes at Catholic University in Washington, D.C., and Barrett and Kavanaugh taught at Notre Dame Law School. Barrett graduated from the school and began teaching there 23 years ago; Kavanaugh has family connections to Notre Dame.

Continue Reading
Advertisement

Trending