Tag Archives: tariffs

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 …

The New York Times reports: The global economy is projected to slow sharply this year as President Trump’s trade policy disrupts international commerce and increases economic uncertainty, the World Bank said on Tuesday in a report that underscores the toll of America’s trade war. The trade tension is setting the stage for the weakest decade of growth since the 1960s. …

Yahoo News reports: The Trump administration late on Monday argued to an appeals court that a lower court’s invalidation of the president’s “Liberation Day” tariffs was “illegal” and that reimposing a halt to those duties would risk “irreparable economic and national security harms.” The administration made these statements in a document filed Monday with the US Federal Court of Appeals …

The New Republic reports: “What’s the tariff on bananas? Americans, by the way, love bananas. We buy billions of them a year,” asked Pennsylvania Representative Madeleine Dean. “What’s the tariff on bananas?” “The tariff on bananas would be representative of the countries that produce them,” said Lutnick, eventually clarifying that the tariff rate would be generally 10 percent. “As countries …

Politico reports: Trump administration officials delayed and redacted a government forecast because it predicts an increase in the nation’s trade deficit in farm goods later this year, according to two people familiar with the matter. The numbers run counter to President Donald Trump’s messaging that his economic policies, including tariffs, will reduce U.S. trade imbalances. The politically inconvenient data prompted …

The New York Times reports: U.S. tariffs on steel and aluminum imports doubled on Wednesday, as President Trump continued to ratchet up levies on foreign metals that he claims will help revitalize American steel mills and aluminum smelters. The White House called the increased tariffs, which rose to 50 percent from 25 percent just after midnight Eastern time, a matter …

Axios reports: The Democratic National Committee is commandeering a taco truck to mock Trump’s apparent fury at the slogan “Trump Always Chickens Out,” or “TACO,” Axios has learned. Democrats clearly think they have found a way to get under the president’s skin. Trump was asked about the mantra — used by Wall Street traders to predict his response to tariff-induced …

ABC News reports: President Donald Trump said on social media that if the courts rule against his tariffs, it will empower other countries to impose retaliatory tariffs on the United States, leading to economic damage. Such a ruling “would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us,” Trump said in …

Politico Europe reports: The European Commission said it is prepared to impose retaliatory measures against U.S. President Donald Trump’s latest threat on steel and aluminum tariffs. “We strongly regret the announced increase of U.S. tariffs on steel imports from 25 percent to 50 percent,” the EU executive said on Saturday in an emailed statement. “This decision adds further uncertainty to …

CNN reports: Trump announced Friday that he would set tariffs on steel imported into the United States at 50%, double their current rate. At a US Steel facility in West Mifflin, Pennsylvania, Trump said he had a “major announcement.” To an applauding crowd of US Steel employees, Trump said he would jack up the tariff to protect America’s steelworkers. “We …

“Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it …

CNBC reports: A federal appeals court on Thursday granted the Trump administration’s request to temporarily pause a lower-court ruling that struck down most of President Donald Trump’s tariffs. The Trump administration had earlier told the U.S. Court of Appeals for the Federal Circuit that it would seek “emergency relief” from the Supreme Court as soon as Friday if the tariff …

CNBC reports: Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations, as the retailer’s CEO said it will hike prices of certain items to offset tariffs. In an interview with CNBC, CEO Tony Spring said about 15 cents to 40 cents per share of the guidance cut is due to tariffs. He …

The Huffington Post reports: The White House deepened its attacks on the judiciary on Wednesday as it hit back at a federal court decision striking down President Donald Trump’s reciprocal tariffs. “[Trade] deficits have created a national emergency that has decimated American communities,” White House spokesperson Kush Desai told HuffPost in a statement. “It is not for unelected judges to …

The Associated Press reports: A federal trade court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. The ruling from a three-judge panel at the New York-based Court of International Trade came after several lawsuits arguing Trump has exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos. …

Mediaite reports: Wall Street traders have developed a biting new acronym for a strategy that’s become surprisingly lucrative for President Donald Trump’s whiplash-inducing trade policy: TACO – “Trump Always Chickens Out.” Reportedly first coined by Financial Times columnist Robert Armstrong, the term has quickly gained traction among investors who are profiting from what they say is a predictable pattern: Trump …

“We’re not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to make, do the AI thing. I’m not looking to make T-shirts, to be honest. I’m not looking to make socks. We can do that very well in other locations. We are looking to do chips and computers …

REPORTER: “When you said Walmart should eat the cost of tariffs, isn’t that an acknowledgment it is companies that bear the brunt of tariffs?” TRUMP: “Sometimes the country will eat it. Sometimes Walmart will eat it. And sometimes there’ll be something to pay something extra. Because they’ll do a lot of business, but, you know, they announce record profits and …

“We have numbers. Nobody’s ever seen numbers like we have. I’m not looking for any deal. I mean, we’ve set the deal. It’s at 50 percent. But again, there are no tariffs if they build a plant here. Now, if somebody comes in and wants to build a plant here, I can talk to them about a little bit of …

NewsNation reports: Commerce Secretary Howard Lutnick said the current 10 percent tariffs imposed across the board are not increasing prices on consumers. “The world has a 10 percent tariff now,” Lutnick told NewsNation’s “CUOMO” in an interview. “So, the way it actually runs through the markets is that the selling countries overseas, they eat most of it, the currency as …