Tag Archives: tariffs

Reuters reports: Mexico on Monday said it would reject a U.S. idea to take in all Central American asylum seekers if it is raised at talks this week with Trump administration, which has threatened to impose tariffs if Mexico does not crack down on illegal immigration. Mexican Foreign Minister Marcelo Ebrard said the country is committed to continuing to work …

The New York Times reports: The Trump administration considered imposing tariffs on imports from Australia last week, but decided against the move amid fierce opposition from military officials and the State Department, according to several people familiar with the discussions. Some of President Trump’s top trade advisers had urged the tariffs as a response to a surge of Australian aluminum …

The New York Times reports: The Trump administration announced on Friday that it was stripping India of a special status that exempts billions of dollars of its products from American tariffs, part of a deepening clash over India’s protections for its market. The White House said that it would terminate India’s preferential market access to the United States as of …

CNN Money reports: Costco says it’s going to be raising prices on many items — and the company is pointing to U.S. tariffs on China as the reason why. “At the end of the day, prices will go up on things,” Costco chief financial officer Richard Galanti said this week in a call with investors, in response to a question …

Bloomberg reports: The automotive industry is bearing the brunt of trade-war crossfire again as U.S. President Donald Trump threatens to slap tariffs of as much as 25% on goods from Mexico, a key production hub for carmakers from Mazda Motor Corp. to General Motors Co. Mexico is the largest source of U.S. vehicle and auto-parts imports, meaning tariffs would increase …

“Trade policy and border security are separate issues. This is a misuse of presidential tariff authority and counter to congressional intent. Following through on this threat would seriously jeopardize passage of USMCA, a central campaign pledge of President Trump’s and what could be a big victory for the country. “President Trump should consider alternatives, such as imposing a fee on …

The Week reports: President Trump is planning on threatening to impose tariffs on Mexico if the country does not crack down on Central American migrants trying to seek asylum in the United States, three administration officials said on Thursday. While one official said most of the administration supports the idea, others said several White House aides are trying to talk …

CNBC reports: China has halted purchases of American soybeans in another move in the escalated trade war with the U.S. Chinese buyers have stopped ordering and don’t expect to resume the purchases due to the disagreement over trade between the world’s two largest economies. U.S. soybean farmers have taken a hard hit from the trade tensions as the value of …

Reuters reports: Beijing is “seriously considering” restricting exports to the United States of rare earths, 17 key chemical elements used in high-tech consumer electronics and military equipment, the editor in chief of China’s Global Times said on Tuesday. Rising trade tensions have led to concerns that Beijing will use its dominant position as a supplier of rare earths for leverage …

The Washington Examiner reports: The Trump administration said Thursday that it would provide $14.5 billion in “direct payments” to farmers as part of an aid package to offset the damage caused by the trade war with China. Another $1.4 billion would be allocated to purchase surplus agricultural commodities. The assistance, which wouldn’t require congressional approval, would be the second aid …

Reuters reports: Walmart Inc said on Thursday that prices for shoppers will go up due to higher tariffs on goods from China as the world’s largest retailer reported its best comparable sales growth for the first quarter in nine years. U.S. President Donald Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% last week. The …

The Associated Press reports: Macy’s customers may start to feel the impact of President Donald Trump’s trade war with China. The administration is preparing to extend the 25% tariffs to practically all Chinese imports not already hit with levies including toys, shirts, household goods and sneakers, which furnish Macy’s behemoth stores. Macy’s CEO Jeff Gennette told investors Wednesday the higher …

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 …