Tag Archives: tariffs

ABC News reports: Seven in 10 Americans think President Donald Trump’s tariffs on international trade will drive up U.S. inflation, outweighing hopes that they’ll boost manufacturing employment and fueling a 64% disapproval rate of how he’s handling the issue. Even nearly half of Republicans — 47% in the ABC News/Washington Post/Ipsos poll released Friday — said they think tariffs will …

ABC News reports: President Donald Trump, in a wide-ranging interview with Time magazine published Friday, claimed he’s already “made 200 deals” on tariffs and said he’s spoken with Chinese President Xi Jinping. In the cover story, in which Trump’s discussed his first 100 days in office, the president was asked about White House trade adviser Peter Navarro’s prediction of “90 …

The Hill reports: China canceled 12,000 metric tons of United States pork shipments amid a high-stakes trade standoff between the superpowers, according to data released Thursday. China, one of the biggest U.S. trading partners, axed 12,000 metric tons of U.S. pork orders, the data from the U.S. Department of Agriculture (USDA) shows. The move represents the biggest cancellation of pork …

“SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. “No details on timing, and recall that we have been here before with Japan only to have the goal posts changed, …

The Hill reports: National Economic Council (NEC) Director Kevin Hassett dismissed the notion that President Trump is worried about empty shelves in supermarkets and households due to the ongoing tariff war and claimed the U.S. is actively engaged in trade negotiations with scores of countries around the world. “No, absolutely not,” Hassett said Wednesday night in an interview on Fox …

From the Wall Street Journal editorial board: Another harsh reality is that China called Mr. Trump’s bluff and seems to have won this round. When Mr. Trump imposed his tariffs in the first term, President Xi Jinping retaliated with some restraint and sent a delegation to negotiate a trade deal. This time he retaliated in tit-for-tat fashion and pushed all …

Axios reports: President Trump got a scare from CEOs and markets on Monday. On Tuesday, he blunted some of his sharpest threats — signaling a softer stance on China and retreating from fiery rhetoric targeting the Fed. Monday was a tough day for Trump’s goal of reshaping the global economy. The CEOs of three of the nation’s biggest retailers — …

From the Wall Street Journal editorial board: If the White House wanted a test of how firing Jerome Powell would go over in the markets, it succeeded on Monday. U.S. stocks and the dollar plunged while yields on long-term Treasurys climbed after President Trump renewed his attacks on the Federal Reserve Chairman. Mr. Trump thinks he can bully everyone into …

CNBC reports: The pullback in trade between the U.S. and China as a result of President Trump’s steep tariffs on Chinese goods and fears of a recession are starting to show up in major ports data, with a steep drop in container vessel traffic headed to Los Angeles and Long Beach. For the week ending May 3, the number of …

The Washington Post reports: The global economy will slow sharply this year, weighed down by President Donald Trump’s imposition of the highest import taxes in more than a century and the cloud of uncertainty that has billowed in their wake, the International Monetary Fund said Tuesday. Trump’s double-barreled tariff plan — a 10 percent tax on nearly everything the United …

Playbook reports: The International Monetary Fund will officially downgrade global growth forecasts this morning in response to the swirling trade war and severe market turbulence triggered by Donald Trump’s on-off tariffs. The IMF’s weeklong spring conference in Washington will dominate headlines at 9 a.m. with the unveiling of its first World Economic Outlook since Trump returned to power. It won’t …

Reuters reports: U.S. President Donald Trump met with major retailers, including Walmart, Home Depot,Lowe’s and Target on Monday to discuss broad-based tariffs likely to raise the cost of everyday goods that they import. Big U.S. chains, like Walmart and Target, rely heavily on imported goods, and tariffs — including 145% levies on China — are expected to add strain on …

The BBC reports: DHL Express is suspending deliveries to the US worth more than $800 (£603) because of a “significant increase” in red tape at customs following the introduction of Donald Trump’s new tariff regime. The delivery giant said it will temporarily stop shipments from companies in all countries to American consumers on Monday “until further notice”. It added that …

FactCheck.org reports: President Donald Trump has added to his unsupported claim that the U.S. is making “$2 billion a day” from tariffs by saying that the country was losing $2 billion or $3 billion “a day” under President Joe Biden. Economists told us that Trump appears to be wrongly comparing a very high – and unlikely – estimate of potential …

CNBC reports: A total of 80 blank, or canceled, sailings out of China have been recorded by freight company HLS Group. It wrote in a recent note to clients that with the trade war between China and the U.S. leading to a demand plummet, carriers have started to suspend or adjust transpacific services. The impact of the diminished freight container …

Yahoo Finance reports: Federal Reserve Chairman Jerome Powell said Wednesday the central bank will “wait for greater clarity” before considering any interest rate adjustments as he expects President Trump’s tariffs to generate “higher inflation and slower growth.” Those twin developments, he acknowledged during a Chicago speech, could create major dilemma for the Fed — which is obligated to keep prices …

Popular Information reports: Trump can boost or depress the price of virtually any stock through the creation or elimination of tariffs. On Tuesday, Trump Media and Technology Group (TMTG), best known as the parent company of the social media platform Truth Social, announced it was launching a series of actively managed investment accounts. TMTG is marketing these “Truth Social-branded Separately …

The News York Times reports: California’s governor and attorney general plan to sue President Trump on Wednesday to try to stop his flurry of tariffs, accusing the president of taking unlawful action to escalate a global trade war that has caused “immediate and irreparable harm” to the state’s economy. The lawsuit will be the largest legal challenge yet to Mr. …

From the government of Hong Kong: ​The Government of the United States (US) announced earlier that it would eliminate the duty-free de minimis treatment for postal items despatched from Hong Kong to the US and increase the tariffs for postal items containing goods to the US starting from May 2. The US is unreasonable, bullying and imposing tariffs abusively. Hongkong …

The Telegraph reports: China has barred its country’s airlines from accepting deliveries from Boeing in retaliation against Donald Trump’s tariffs. Boeing has been caught in the middle of the clash, losing access to one of the world’s biggest aviation markets in the process. The ban will apply to all existing orders from the US manufacturing giant, while Beijing has also …