Tag Archives: tariffs

Reuters reports: U.S. retail gasoline prices are set to climb in the coming weeks as new tariffs imposed by the administration of President Donald Trump raise the cost of energy imports, according to traders and analysts. The outlook underscores an unintended consequence of Trump’s protectionist trade policies, which are meant to boost the U.S. economy but could instead lead to …

“This is where President Trump does have to walk very carefully. Inflation killed Joe Biden’s presidency. If you wish to see President Trump be successful, he needs a booming economy. He cannot have a recessionary economy. “If tariffs continue to drive up prices and if wages do not increase sufficient to meet those prices, you’re going to be in exactly …

CBNC reports: Shoppers will likely see produce prices increase in the coming days due to President Donald Trump’s tariffs on Mexican imports, Target CEO Brian Cornell said Tuesday. Cornell said Target relies heavily on Mexican produce during the winter months, and the tariffs could force the company to raise prices on fruits and vegetables as soon as this week. “Those …

The Associated Press reports: Mexico President Claudia Sheinbaum said Tuesday that Mexico will respond to 25% tariffs imposed by the United States with its own retaliatory tariffs on U.S. goods. Sheinbaum said she will announce the products Mexico will target on Sunday in a public event in Mexico City’s central plaza, perhaps indicating Mexico still hopes to de-escalate the trade …

From the Wall Street Journal editorial board: President Trump likes to cite the stock market when it’s rising as a sign of his policy success, so what does he think about Monday’s plunge? The Dow Jones Industrial Average took a 650-point header after he announced that he’ll hit Mexico and Canada on Tuesday with 25% tariffs. Mr. Trump said at …

NPR reports: Canadian Prime Minister Justin Trudeau said Ottawa would impose immediate 25% tariffs on more than $20 billion worth of U.S. imports. Tariffs on an additional $86 billion worth of products will take effect in 21 days. “Our tariffs will remain in place until the U.S. trade action is withdrawn,” Trudeau said, adding his government was looking into non-tariff …

The Guardian reports: Donald Trump has ordered that swathes of America’s forests be felled for timber, evading rules to protect endangered species while doing so and raising the prospect of chainsaws razing some of the most ecologically important trees in the US. The president, in an executive order, has demanded an expansion in tree cutting across 280m acres (113m hectares) …

The Associated Press reports: President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth. “Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters in the Roosevelt …

Bloomberg News reports: Impending tariffs on Canada and Mexico risk driving up US car prices by as much as $12,000, further squeezing consumers and wreaking havoc across the intricate web of automotive supply lines spanning the continent. The cost to build a crossover utility vehicle will rise by at least $4,000, while the increase would be three times that for …

The Guardian reports: Donald Trump’s commerce secretary, Howard Lutnick, said on Sunday that US tariffs on Canada and Mexico will go into effect on Tuesday, but the president would determine whether to stick with the planned 25% level. “That is a fluid situation,” Lutnick said. “There are going to be tariffs on Tuesday on Mexico and Canada. Exactly what they are, …

Politico Europe reports: The European Union said on Thursday it was ready to deploy its strongest trade weapon against the U.S. after President Donald Trump threatened to impose sweeping tariffs and scorned the EU as having been created to “screw” America. “We have an Anti-Coercion Instrument, and we will have to use it,” Agriculture Commissioner Christophe Hansen said in Paris …

CNBC reports: President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date. The sweeping 25% tariffs on imports from Mexico and Canada had been paused on Feb. 3 for one month. But the Trump administration …

Reuters reports: Trump told reporters at his Mar-a-Lago estate in Florida on Tuesday that sectoral tariffs on pharmaceuticals and semiconductor chips would also start at “25% or higher”, rising substantially over the course of a year. He did not provide a date for announcing those duties and said he wanted to provide some time for drug and chip makers to set …

The New York Times reports: President Trump said on Friday that he planned to move forward with tariffs on foreign cars on April 2, but did not specify how much the tariffs would be or which nations could be targeted. Automakers have been bracing for the impact of tariffs and have forecast significant job losses. Asked about when he might …

The New York Times reports: President Trump signed a memorandum on Thursday ordering his advisers to calculate new tariff levels for other countries globally, an ambitious task that will shatter the rules of the global trading system and likely set off furious negotiations in the coming months. The president directed his advisers to come up with new tariff levels that take …

From the Wall Street Journal editorial board: President Trump gave the economy another jolt of uncertainty on Monday when he signed executive orders imposing 25% tariffs on all steel and aluminum imports. His advisers say these tariffs are economically “strategic” rather than a bargaining chip for some other goal. Is the strategy to harm U.S. manufacturers and workers? That’s what …

The New York Times reports: President Trump announced sweeping tariffs on foreign steel and aluminum on Monday, re-upping a policy from his first term that pleased domestic metal makers, but hurt other American industries and ignited trade wars with allies on multiple fronts. The president signed two official proclamations Monday evening that would impose a 25 percent tariff on steel …

Reuters reports: U.S. President Donald Trump said on Sunday that he will announce on Monday 25% tariffs on all steel and aluminum imports into the U.S., another major escalation in his trade policy overhaul. Trump, speaking to reporters on Air Force One, also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately. Trump during …

The Associated Press reports: Americans are likely to pay more for products from popular Chinese e-commerce platforms like Shein and Temu as the U.S. Postal Service said it would stop accepting parcels from China and Hong Kong. The move was announced Tuesday, coming after the U.S. imposed an additional 10% tariff on Chinese goods and ended a customs exception that …

“What’s funny to me as an economist, Sandra, is if you go back to 2018, 2019, when the president, President Trump imposed historic tariffs on China: steel and aluminum, solar, dishwashers, other products. Those very same people, whether they’re on the Hill, or whether they’re in think tanks, or whether they’re in the ivory tower, or whether they’re on the …