China exports to U.S. drop sharply with tariffs in effect
CBSN
Shipments of goods from China to the U.S. are dropping sharply with the Trump administration's steep tariffs in place, leading major U.S. retailers to warn about impending supply shortages.
The trade war between China and the U.S. has escalated over the past few weeks, with each nation hiking its import duties multiple times in a tit-for-tat. While Trump has given other countries a 90-day pause on the tariffs, as their leaders pledged to negotiate with the U.S., China has remained the exception.
U.S. import duties on Chinese products now stand as high as 145%. China, meanwhile, has hit back with 125% tariffs on U.S. products.
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