Tag Archives: tariffs

The New York Times reports: The European Union and the United States agreed on Sunday to a broad-brush trade deal that sets a 15 percent tariff on most E.U. goods, including cars and pharmaceuticals, averting what could have become a painful trade war with a bloc that is the United States’ single biggest source of imports. President Trump said that …

Axios reports: There will be no more extensions on tariff deadlines, and they will go into force as scheduled on August 1, Commerce Secretary Howard Lutnick said Sunday. Since January, the world has gotten accustomed to President Trump announcing tariffs and then reversing them, pulling them back at the last moment, or pausing them shortly after going into effect. Financial …

Bloomberg News reports: The European Union plans to quickly hit the US with 30% tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug. 1. As a part of a first …

“We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to …

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 …