Tag Archives: tariffs

The New York Times reports: The imposition of punishing tariffs for roughly 90 countries on Thursday signified the latest evolution of Mr. Trump’s tariff agenda, a plan that has seen many twists and turns since he first proclaimed “Liberation Day” this spring. The president’s latest long list of import taxes are expected to drive up prices for American consumers and …

Reuters reports: The president said Wednesday that he will impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age. Trump told reporters in the Oval Office that the new tariff rate would apply to “all chips and semiconductors coming into the United States,” but would …

CNBC reports: The White House announced Wednesday that it is imposing an additional 25% tariff on India, bringing the total levies against the major United States trading partner to 50%. “I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” President Donald Trump said in an executive order. “Accordingly, and as consistent with applicable …

Axios reports: The Christmas business is typically pretty cheerful, but not this year: Companies that import and sell Christmas trees, twinkling lights and other holiday decorations say they’ve been hammered by tariffs. You’ll likely pay more for holiday supplies, and have fewer products to choose from — industry leaders are even warning about possible shortages. Christmas executives (yes, that’s a …

Reuters reports: U.S. President Donald Trump signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said. The new rates goes into effect on August 1. “In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively …

NBC News reports: Trump said this morning that the U.S. and Mexico agreed to delay their deadline for a trade deal by another 90 days. The announcement came on the day before higher, so-called reciprocal tariffs on dozens of countries’ imports were set to go into effect. “The complexities of a Deal with Mexico are somewhat different than other Nations …

“Tariffs are making America GREAT & RICH Again. They were successfully used against the USA for decades and, coupled with really dumb, pathetic, and crooked politicians, we’re having a devastating impact on the future, and even the survival, of our country. Now the tide has completely turned, and America has successfully countered this onslaught of Tariffs used against it. ONE …

The Washington Post reports: President Donald Trump said early Thursday it would be “very hard” to reach a trade deal with Canada after the country said it planned to recognize a Palestinian state — throwing talks with Ottawa into question one day before higher U.S. tariffs are set to come into force. “Wow! Canada has just announced that it is …

CNN reports: President Donald Trump signed executive actions on Wednesday implementing a crippling 50% tariff on Brazil as well as a 50% tariff on certain copper products, the White House said, in the latest escalation of his administration’s aggressive trade war. Trump had previously threatened to impose the 50% tariff on Brazil effective August 1 in a letter he sent …

CNBC reports: President Donald Trump said Wednesday that India will pay a tariff of 25% beginning Aug. 1, in addition to a “penalty” for what he views as unfair trade policies and for India’s purchase of military equipment and energy from Russia. “Remember, while India is our friend, we have, over the years, done relatively little business with them because …

Fox Business reports: Procter & Gamble on Tuesday said it will raise prices on some products sold in the U.S. as it deals with uncertainty over tariffs. Economic volatility and “consumer anxiety” related to President Donald Trump’s tariff policies and immigration crackdown have led consumers to rein in their spending to provide a buffer in their budget, the company’s executives …

Axios reports: The trade deal between the U.S. and the European Union could hit the pharmaceutical industry with billions in new costs and ultimately drive up prices and limit access. Drugmakers have been heavily reliant on foreign countries’ manufacturing and raw materials, most of it duty-free. Those free-trade policies are on the way out as the U.S. prepares to impose …

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 …