Last updated: 2025-12-08 18:34:47 ET
Federal relief money comes after China boycotted American farm products in retaliation for U.S. tariffs.
The new financial aid package is expected to shore up the U.S. agricultural sector, which has been hurt by tariffs and a trade war with China.
'Shipments to U.S. drop 29%'
China's exports to the U.S. have dropped sharply this year, in the face of President Trump's tariffs — but the country is still finding plenty of customers elsewhere around the world.
Chinese exports to the United States continued to crater last month, but the drop was made up by booming sales in Southeast Asia and Europe.
President Trump’s tariffs weren’t enough to hold back the global export flood by China, which pushed past last year’s record in just 11 months.
Japan’s economy has contracted at an annual pace of 2.3% in the July-September period, as exports suffered from the impact of U.S. President Donald Trump’s tariffs and public investments slipped
A long-term supply chain shift is pulling the rest of Asia even with manufacturing giant China. For importers, a short-term cash crunch from tariffs is looming.
The U.S. treasury secretary spoke with Andrew Ross Sorkin at the DealBook Summit on Wednesday.
The Supreme Court could rule as soon as this month on the validity of Trump’s emergency tariffs, which could lead to big refunds for companies like Costco and Busy Baby.
