China slaps retaliatory 34% tariffs on all US goods

The bottom of the invoice now is going to say 54 percent,

he added, referring to a new rate hitting Chinese imports starting next Wednesday

There's a lack of infrastructure in the US to support what we do,

he said

I'm hoping this is not another nail in the coffin for foreign supply,

Thomas said

I add a surcharge at the bottom of every invoice to cover the expense of the tariff,

he told Agence France-Presse (AFP).

We import about $4.5 billion worth of [wine] from the EU and US businesses make almost $25 billion from those imports. There is no plug for that hole,

he told AFP

We import from necessity, not desire."

Will Thomas, whose company transforms coils of steel into metal products, added

Probably 25 percent of our revenue is from imported wine,

he told AFP, noting

Kristalina GeorgievaiMF Managing Director

We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth,

Georgieva said in her strongest comments to date on the risks posed by the US trade actions

It's just a lot of uncertainty and chaos in our supply chain,

he said

Restaurants really rely on large margins in order to effectively subsidize the rest of their business,

he said,

You'll kind of reach a tipping point, ... on how much you can raise prices."

he said,

Oren Cassformer Mitt Romney advisor

I think it’s very clear the rhetoric of the economic community, in particular, is almost entirely ideological and out of proportion to the actual sort of risk-reward calculation,

Oren Cass, the chief economist at American Compass, a conservative economic think tank, said Friday

Markets are expressing a vote of no confidence in the new tariff regime,

said Joe Brusuelas, the principal and chief economist at the consulting firm RSM

Jerome Powellfederal Reserve Chair

While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected,

Mr. Powell said

MY POLICIES WILL NEVER CHANGE.”

Having decamped from Washington to Mar-a-Lago, his home in Florida, he declared on Truth Social

And let's not forget the optics. China is very much framing Trump's tariffs as proof of US decline -- resorting to protectionism, bullying allies and retreating from global norms,

she said

Tom Lee (Florida politician)u.S. District Court Judge

For Trump, economic war isn't about economics or even the stock markets -- it's about the optics of domination and strength,

Lee said

To the extent that Beijing was feeling a little bit isolated at the end of the Biden administration, I think that a lot of that pressure has come off as the locus of disruption is now clearly Washington,

Stokes said

There are a number of aggrieved parties that had been solid and loyal allies of the US,

she added

Unlike previous presidents, President Trump fully understands the nature and scope of the problem -- and the existential threat posed by China -- and what needs to be done,

Smith said