HONOLULU (HawaiiNewsNow) - The U.S. Commerce Department on Thursday said the U.S. trade deficit was cut in half in April, with new tariffs fueling a steep drop in imports.
Meantime, President Donald Trump and Chinese leader Xi Jinping today discussed trade on a 90-minute phone call and agreed to resume negotiations.
It’s good news for Hawaii business owners who’re struggling to make sense of confusing tariff rhetoric and the rising costs of Chinese goods.
The U.S. and China are in the middle of a 90-day tariff truce that’s set to expire in August. Under it, the U.S. dropped the tax on Chinese imports from 145% to 30%.
Now with trade talks set to resume, more change could be coming.
“This hurts, but we’re still okay,” said Richard Chan, farm coordinator of Adela’s Country Eatery in K