Tariffs

The Trump administration says it will impose a 25 percent tariff on $50 billion of Chinese goods with "industrially significant technology." A list of products will be released in the next few weeks.

China is cutting tariffs on vehicles from the U.S. and other countries after President Trump railed against the imbalance in trade tariffs. The cuts could help German automakers as well as Tesla.

China is one of the top export destinations for U.S. wine, but last month, in retaliation for U.S. tariffs on steel and aluminum, China imposed a tariff on U.S. wine and other food.

Mary Buchzeiger's auto parts company may be fighting for its life if it doesn't get relief from Trump's proposed tariffs. "They're attacks on U.S. companies that are using Chinese goods," she says.

The U.S. team had hoped to cut the trade imbalance by $200 billion and stop China from targeting U.S. technology and intellectual property.

The U.S. steel industry has enjoyed protection from foreign competitors since the 1790s. It says new import tariffs are actually just leveling the playing field and shouldn't be labeled "protection."

The administration says the steel and aluminum tariffs will raise costs just slightly. But in a low-margin business like canned goods, a little extra cost can take a deep bite out of profits.

"Why should one country take aim at another country's policy to develop its own economy?" a Chinese auto industry leader says of U.S. threats and tariffs. "Just mind your own business."

The U.S. has been pushing China to lower its high 25 percent tariff on imported cars, but most countries zealously protect their domestic auto markets — including the United States itself.

California produces about 85 percent of American wine, which is worth about $1.5 billion in exports. As of now, China imports little U.S. wine, but it's one of the world's fastest-growing markets.

Trump has told his trade representative to prepare for another round of tariffs against Chinese goods.

Australia has strong trading ties with China and produces many of the things on Beijing's list of U.S. products that will be hit by stiff tariffs.