Tag Archives: tariffs

Reuters reports: U.S. President Donald Trump said on Saturday that things are going well with China, insisting U.S. consumers are not paying for import taxes he has imposed on goods from that country although economists say Americans are footing the bill. Tariffs are intended to make foreign goods more expensive to boost domestic producers, unless international exporters reduce prices. But …

Newsweek reports: President Donald Trump addressed press pool reporters Friday on the White House lawn and said China’s currency has devalued because they “pay for the tariffs.” As soon as the video cut back to Fox News, host Neil Cavuto laid into Trump with an immediate fact-check. When speaking of the China tariffs, the president said, “China is devaluing their …

NBC News reports: China shot back on Friday after President Donald Trump announced on Twitter that the U.S. would impose an additional 10 percent tariff on $300 billion in Chinese imports starting next month. Chinese foreign ministry spokeswoman Hua Chunying called Trump’s move a “serious violation” and warned Beijing would have to take “necessary countermeasures” if the tariffs were imposed. …

Business Insider reports: President Donald Trump said Thursday he will expand tariffs to virtually all imports from China on September 1, marking a significant escalation in a more than yearlong trade war between the largest economies. “Trade talks are continuing, and……during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining …

The BBC reports: US President Donald Trump’s trade war with China is backfiring and impacting the US economy, according to his former chief economic adviser. The tariff battle has had a “dramatic impact” on US manufacturing and capital investment, Gary Cohn told the BBC. Mr Cohn said the tariffs had made it expensive to import vital products from China, counteracting …

Roll Call reports: President Donald Trump said Friday that while he is a well-documented teetotaler, he prefers the appearance of American wines to their French counterparts. “I’ve always liked American wines better than French wines, even though I don’t drink wine. I just like the way they look,” Trump said in the Oval Office on Friday. Trump confirmed his administration …

The BBC reports: US President Donald Trump has accused French President Emmanuel Macron of “foolishness” over a digital services tax, and hinted that he would tax French wine in retaliation. Mr Trump voiced his anger in a tweet on Friday, in response to French plans to tax multinational firms like Google. French authorities argue that the firms pay little or …

CNBC reports: In a tweet on Friday, President Trump said his administration will not grant Apple any relief on Mac Pro parts made in China. Apple said in June that tariffs on its products will reduce its contribution to the U.S. economy. In a letter to U.S. trade representative Robert Lighthizer, Apple said tariffs would “also weigh on Apple’s global …

The New York Times reports: The Trump administration on Thursday unveiled details of a $16 billion aid package to help farmers hurt by President Trump’s trade war with China, as soybean growers from around the country converged on Washington to tell lawmakers that rural America is ready for a cease-fire. The Agriculture Department said that the payments to farmers, which …

The New York Times reports: Growing distrust between the United States and China has slowed the once steady flow of Chinese cash into America, with Chinese investment plummeting by nearly 90 percent since President Trump took office. The falloff, which is being felt broadly across the economy, stems from tougher regulatory scrutiny in the United States and a less hospitable …

CNN reports: Ikea is shutting down its only furniture factory in the United States. The Swedish company will end production this December at its plant in Danville, Virginia. Operations will move to Europe, where the company says it can cut costs. “We made every effort to improve and maintain the competitiveness of this plant, but unfortunately the right cost conditions …

Last month it was just higher prices. Now it’s a shortage. Publishers of religious books are warning that President Donald Trump’s latest proposed tariffs on Chinese imports could result in a Bible shortage in the U.S. Tens of millions of bibles are printed in China each year, with some estimates as high as 150 million. Publishers large and small testified …

NBC News reports: President Donald Trump’s Fourth of July celebration will feature $750,000 of donated fireworks from an Ohio retailer who has lobbied the White House against expanded tariffs on Chinese imports. And last week, the same day the donation was announced, the company — Phantom Fireworks of Youngstown, Ohio — got what it wanted: Trump decided to hold off …

Fox News reports: Fifty-seven percent of voters feel optimistic about the economy. That’s down from 66 percent who felt that way when President Trump was inaugurated in early 2017, and from 63 percent who were optimistic in February. In addition, a new Fox News Poll finds 31 percent feel everyone has benefitted under Trump’s economic policies, but 48 percent think …

Politico reports: Apple wants U.S. trade officials to exclude the iPhone from President Donald Trump’s latest round of proposed tariffs on Chinese-made goods, as the Silicon Valley giant looks to shield its core product from Trump’s trade war with Beijing. Apple contends that a tariff on the iPhone and its other devices, such as tablets and computers, would harm its …

Quartz reports: Fear is rippling through the Christian bookseller industry in the US. Publishers say that if Donald Trump’s proposed tariffs of 25% or “much higher” on an additional $300 billion worth of Chinese goods kicks into effect. Printed materials are included in the extensive list of Chinese goods that would be hit with the latest duties. Particularly hard hit …

The New York Times reports: “This is a pattern we’ve seen since the first days of this administration,” said Ned Price, a former C.I.A. official who worked on President Barack Obama’s National Security Council staff and is now director of policy at National Security Action, a progressive foreign policy advocacy organization. “The president manufactures a crisis, galvanizes his base around …

The New York Times reports: President Trump backed off his plan to impose tariffs on all Mexican goods and announced via Twitter on Friday night that the United States had reached an agreement with Mexico to reduce the flow of migrants to the southwestern border. Mr. Trump tweeted the announcement only hours after returning from Europe and following several days …

The Hill reports: President Trump on Thursday reiterated his willingness to impose tariffs on Mexico if the country does not crack down on the flow of migrants toward the U.S. despite opposition from within his own party, saying some senators “have no idea what they’re talking about” on the issue. “We’ll see what happens. But something pretty dramatic could happen,” …

The New York Times reports: Republican senators sent the White House a sharp message on Tuesday, warning that they were almost uniformly opposed to President Trump’s plans to impose tariffs on Mexican imports, just hours after the president said lawmakers would be “foolish” to try to stop him. “I want you to take a message back” to the White House, …