Tariffs

Congressional Republicans are anxious about Trump's trade policies, but found some relief in the deal the president announced yesterday with European Commission President Jean-Claude Juncker.

From farmers to meat-storage facilities, to auto parts manufacturers, the impact of tariffs is spreading. And if trade tensions escalate more, industries warn it could get much worse.

A long trade war that results in higher, broader tariffs "will be bad for our economy and for other economies too," Federal Reserve Chairman Jerome Powell said at a Senate hearing Tuesday.

The agreement will create an open-trade zone for 600 million people. The parties account for approximately one-third of GDP worldwide.

The complaint comes less than a week after the Trump administration published a preliminary list of more than 6,000 Chinese products that it wants to hit with new tariffs.

Trade tensions have reached a boiling point with tit-for-tat tariffs between the U.S. and China. But even before these levies went into effect other tariffs were having a big impact on U.S. companies.

A new round of tariffs began Friday. The cost of the levies is likely to ripple through the complex global supply chains that make up much of the trade between the U.S. and China.

Whiskey distillers in the U.S. are concerned EU tariffs will take a big bite out of sales. Many have expanded to meet growing demand and worry what will happen if trade frictions aren't resolved soon.

Amid rising trade tensions with Canada, China and Europe, the president is getting a lot of pushback from business groups and trading partners, who say tariffs will undermine the U.S. economy.

Among the items targeted in retaliatory tariffs: ketchup, powerboats, dishwashing liquid, steel and aluminum. And gherkins. Canadian businesses have flooded a Canadian pickle business with new orders.