In Rochester, New York, a maker of furnaces for semiconductor and solar companies is moving its research and development to China to dodge President Donald Trump’s import taxes — a move that threatens a handful of its 26 U.S. jobs.
U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in the midst of a trade war.
Global markets are higher Friday with Asian stocks bouncing back as investors responded with calm to increased U.S. tariffs on Chinese imports that took effect midnight Washington time.
The European Union is set Friday to slap tariffs on $3.4 billion in American products, from whiskey and motorcycles to peanuts and cranberries.
U.S. threats to slap steel and aluminum tariffs on the European Union, Canada and Mexico has raised the threat of retaliation. At the same time, China is poised to penalize $50 billion in U.S. goods — many produced by Trump supporters in America’s agricultural heartland.
President Donald Trump instructed the U.S. trade representative to consider slapping an additional $100 billion in tariffs on Chinese goods.
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