Tag Archives: tariffs

The New York Times reports: Stellantis, the maker of Chrysler, Jeep and Ram vehicles, reported a big loss on Monday, which it blamed, in part, on President Trump’s tariffs. The company, which also owns European brands like Peugeot, Fiat and Opel, said it lost 2.3 billion euros ($2.7 billion) in the first half of the year after revenue fell 13 …

CNBC reports: Commerce Secretary Howard Lutnick said Sunday that Aug. 1 is the deadline for countries to begin paying tariffs to the United States, but said that “nothing stops countries from talking to us after August 1.” “That’s a hard deadline, so on August 1, the new tariff rates will come in,” Lutnick said on CBS News, when asked about …

The New York Times reports: Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month. The Consumer Price Index rose 2.7 percent from a year ago, the swiftest pace since February, data released by the Bureau …

Politico Europe reports: The European Union is looking at targeting €72 billion in U.S. goods in a second round of trade countermeasures, including aircraft, cars and car parts, according to a list seen by POLITICO on Monday. The bulk of those exports targeted are industrial goods, totaling €65.7 billion, while €6.4 billion in agricultural products would also be hit if …

Reuters reports: President Donald Trump on Saturday imposed a 30% tariff on imports from Mexico and the European Union starting on August 1 after weeks of negotiations with the key trading allies failed to reach a more comprehensive trade deal. The fresh tariffs were announced in separate letters posted on Truth Social on Saturday. Earlier this week, Trump issued new …

“Throughout the current trade negotiations with the United States, the Canadian government has steadfastly defended our workers and businesses. We will continue to do so as we work towards the revised deadline of August 1. “Canada has made vital progress to stop the scourge of fentanyl in North America. We are committed to continuing to work with the United States …

NBC News reports: President Donald Trump announced Thursday that the United States would apply a 35% tariff to all imports from Canada beginning next month, reviving tensions with a major trade partner that had largely dissipated in recent weeks. “Instead of working with the United States, Canada retaliated with its own Tariffs,” Trump wrote in the letter shared on Truth …

NBC News reports: President Trump posted more letters to other countries, including the Philippines, Iraq and Moldova, outlining what the tariff rates on their goods will be if they don’t reach trade agreements with the U.S. by Aug. 1. The largest trading partner included in the batch of letters is the Philippines, with which the U.S. had a trade deficit …

From the Wall Street Journal editorial board: In letters to Japan’s Prime Minister and South Korea’s President, Mr. Trump huffs and puffs again about bilateral trade deficits, which he mistakenly thinks are a sign of foreign exploitation. “We must move away from these longterm, and very persistent, Trade Deficits,” he says. Hence the new 25% tariffs, starting Aug. 1. What …

“As a general area of policy, we should not be dropping gigantic tariffs, particularly on countries that we are trying to ally against China. Japan is threatened by China. South Korea is threatened by China. We should be trying to draw those people in, not trying to alienate them outward so that they are going to trade more with China. …

Axios reports: President Trump on Tuesday insisted the August 1 tariff deadline set this week in letters to U.S. trading partners is firm and won’t change. Why it matters: It’s the opposite of what he said Monday night. “There has been no change to this date, and there will be no change. In other words, all money will be due …

CBS News reports: President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by August 1, while also threatening to hit a dozen other nations with steep import duties by next month. Trump on Monday afternoon also announced separate tariffs on an additional 12 trade partners. Myanmar and Laos face a 40% …

CNBC reports: The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting Aug. 1, President Donald Trump revealed Monday. Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates. Both letters say that …

The Hill reports: President Trump threatened to impose an additional 10 percent tariff on countries “aligning” themselves with the BRICS bloc of developing nations. “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump wrote in …

The New York Times reports: Del Monte Foods, the nearly 140-year-old company known for its wide array of canned vegetables and fruits, filed for bankruptcy protection on Tuesday after struggling with rising borrowing costs, pandemic missteps and a changing global economy. The California-based company, facing secured debt of more than $1.2 billion, said it had agreed to a restructuring agreement …

The Associated Press reports: An analysis finds that a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump’s current tariff plans, a sum that could be potentially managed through price hikes, layoffs, hiring freezes or lower profit margins. The analysis by the JPMorganChase Institute is among the first to measure the direct …

“We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country. They …

Axios reports: Health insurers are starting to notify states that tariffs will drive up the premiums they plan to charge individual and small group market enrollees next year. The Trump administration’s trade policy is adding another layer of uncertainty for health costs as Congress considers Medicaid cuts and is expected to sunset enhanced subsidies for Affordable Care Act coverage. Tariffs …

Politico Europe reports: Convincing U.S. President Donald Trump to stop his global trade war is among the EU’s top priorities for the G7 summit in Canada, the bloc’s leaders said. European Commission boss Ursula von der Leyen and President of the European Council António Costa on Sunday both urged Trump to stop hurting the global economy with tariffs. “Let’s keep …

ABC News reports: A spokesperson for China’s Ministry of Commerce on Thursday appeared to downplay what President Donald Trump said Wednesday was a “done” trade deal addressing export restrictions on rare earths and semiconductors. Speaking at a press conference, the spokesperson characterized the outcome of this week’s trade negotiations in London as a “framework” to consolidate what was agreed to …