Tag Archives: tariffs

The New York Daily News reports: Larry Kudlow is finding out the hard way that pleasing the Donald and telling the truth is a tough balancing act. The White House economics czar reportedly got chewed out by President Trump for admitting that American consumers will pay the price for the White House’s tariff-happy trade war. “Trump called Larry, and they …

Raw Story reports: One farmer in Ohio who voted for President Donald Trump in 2016 told CNN’s Kate Bolduan on Wednesday that he is now officially off the bandwagon. During an interview about the continuing trade wars with China, farmer Christopher Gibbs said that the president’s insistence that farmers would profit spectacularly from his tariffs wasn’t reflecting the reality on …

Time Magazine reports: U.S. officials are targeting a $300 billion list of additional Chinese imports including laptop computers for tariff hikes, ratcheting up a trade fight that is shaking financial markets and fueling fears about global economic growth. The release followed Beijing’s announcement Monday of tariffs of up to 25% on $60 billion of American imports in their spiraling dispute …

The Hill reports: President Trump wrote Tuesday that America’s “Patriot Farmers” would be among the biggest beneficiaries of tariffs his administration has levied against China, promising that the Trump administration would be “making up the difference” to U.S. farmers as tariffs have caused exports on many crops to fall. Stocks plunged on Monday amid the news of stalled negotiations with …

CBS News reports: As the U.S. and China inch closer to an all-out trade war, Arkansas Sen. Tom Cotton says that the sacrifice Americans will pay for President Trump’s tariffs are “minimal” compared to those serving overseas. President Trump has maintained that Americans would not be fronting the brunt of the cost for tariffs, but many, including the president’s own …

The Huffington Post reports: President Donald Trump is seeking an additional $15 billion in U.S. subsidies in an effort to protect farmers from the devastating impact of his trade war with China. That’s on top of $12 billion already earmarked for the farmers to help them weather the fallout. That would be an additional bill for U.S. taxpayers already shouldering …

CNBC reports: China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods. Beijing will increase the tariffs to 25% from 10% on June 1, the Chinese Finance Ministry said Monday. It follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from …

Fortune reports: On Friday morning, Trump implemented $34 billion in tariffs on Chinese goods ranging from auto parts to medical devices. Clothing and shoes, like those imported by Ivanka Trump’s company, were spared. The Office of the United States Trade Representative explained that the goods to be levied with tariffs were chosen based on what would disrupt the U.S. economy …

Reuters reports: President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he imposed last week and said U.S. consumers would not pay for any increase in duties. There “is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today … China should not retaliate-will only get worse!” Trump …

Axios reports: White House economic adviser Larry Kudlow admitted to Fox News’ Chris Wallace on Sunday that the Chinese do not directly pay tariffs on goods coming into the U.S., but argued that China will suffer GDP losses as a result of a diminishing export markets. President Trump has repeatedly claimed, incorrectly, that tariffs are forcing China is paying billions …

The Associated Press reports: President Donald Trump’s latest tariff hike on Chinese goods took effect Friday and Beijing said it would retaliate, escalating a battle over China’s technology ambitions and other trade tensions. The Trump administration raised duties on $200 billion of Chinese imports to 25% from 10%. China’s Commerce Ministry said it would impose “necessary countermeasures” but gave no …

Reuters reports: The United States announced on Wednesday it would hike tariffs on $200 billion worth of Chinese imports from 10 to 25 percent effective Friday, according to a notice posted on the Federal Register. Sources with knowledge of the talks told Reuters that China has sought to alter previously agreed provisions specifying changes to Chinese laws affecting nearly every …

Reuters reports: President Trump in an early morning tweet on Tuesday announced that his administration will put tariffs on $11 billion of European Union (EU) products in the wake of a World Trade Organization (WTO) ruling. The administration late Monday reportedly released a list of about $11 billion worth of EU imports that will be affected by the tariffs as …

Bloomberg reports: The U.S. trade deficit widened in 2018 to a 10-year high of $621 billion, bucking President Donald Trump’s pledges to reduce it, as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports. The annual deficit in goods and services increased by $68.8 billion, or 12.5 percent, Commerce Department data showed …

Bloomberg reports: In two separate papers published over the weekend, some of the world’s leading trade economists declared Trump’s tariffs to be the most consequential trade experiment seen since the 1930 Smoot-Hawley tariffs blamed for worsening the Great Depression. They also found the initial cost of Trump’s duties to the U.S. economy was in the billions and being borne largely …

The Associated Press reports: The European Union warned U.S. President Donald Trump Monday that the bloc will step back from a commitment to buy more American soybeans and liquid gas if European cars are hit with punitive tariffs. The U.S. Commerce Department is expected issue its guidance on whether auto imports endanger U.S. national security enough to justify import taxes, …

The Hill reports: Harley-Davidson said on Tuesday that their earnings per share were essentially wiped out in the final quarter of 2018 after the company got caught up in President Trump’s tariff war. Bloomberg reported Tuesday that Harley-Davidson’s profit, excluding tariff and restructuring costs, was 17 cents per share, falling short of analysts’ average estimate of 29 cents per share. …

The Wall Street Journal reports: China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap. China recorded $323.32 billion in surplus with the U.S. in 2018, representing a 17% jump from the figure in the previous year, according …

Business Insider reports: Apple CEO Tim Cook on Wednesday warned investors that the company expects to fall as much as $9 billion short of its earlier revenue target for the first fiscal quarter of 2019. In a rare guidance revision, Cook pointed to a struggling market in China as the biggest factor for the change. Cook added that “rising trade …

CBS News reports: U.S. President Donald Trump said on Monday he has authorized the second round of payments from a $12 billion aid package for farmers stung by the U.S. trade war with China, but did not specify an amount. The U.S. Department of Agriculture in July had authorized up to $12 billion in aid for farmers and ranchers hit …