China said there are no winners in trade wars as it reacted to U.S. President Donald Trump's new and higher import tariffs on softwood lumber, upholstered furniture, and kitchen cabinets and vanities.

President Donald Trump’s latest onslaught of sector-based tariffs includes a surprise reprieve for the pharmaceutical industry.

Donald Trump’s tariffs have triggered an explosion in cargo theft across the US as organised gangs target truck drivers.

Donald Trump has unveiled a new suite of tariffs on timber and wood furniture, as he escalated his trade war in the name of US national security and boosting domestic manufacturing.

U.S. President Donald Trump said last week that the US would give proceeds from tariff revenues to farmers, Reuters reported.

SINGAPORE—Asia’s economies grew at a solid pace in the first half of the year, but that momentum will slow as tariffs take effect, the Asian Development Bank said as it cut growth forecasts for the region.

President Trump on Monday night announced tariffs of 10% on softwood timber and lumber alongside a 25% tariff on "certain upholstered wooden products" due to take effect on October 14, according to the White House.