Tag Archives: tariffs

The Hill reports: President Trump fired back at Canadian Prime Minister Justin Trudeau on Friday after Trudeau called Thursday’s implementation of U.S. tariffs on steel and aluminum an affront to Canadian soldiers who died serving alongside their U.S. compatriots. Trump accused Canada’s government of treating U.S. agricultural interests “very poorly” in a tweet, adding that the country was “highly restrictive …

“These tariffs are totally unacceptable. The numbers are clear: The United States has a $2 billion U.S. dollars surplus in steel trade with Canada – and Canada buys more American steel than any other country in the world, half of U.S. steel exports. Canada is a secure supplier of aluminum and steel to the U.S. defense industry, putting aluminum in …

Not that he’ll do anything about it: House Speaker Paul Ryan (R-Wis.) on Thursday condemned President Trump’s decision to impose a new set of steel and aluminum tariffs against close trading allies.  “I disagree with this decision,” Ryan said in a statement after Commerce Secretary Wilbur Ross announced the new duties Thursday morning. “Instead of addressing the real problems in …

NPR reports: Japan’s Prime Minister Shinzo Abe says his government “cannot accept” new U.S. tariffs on imported automobiles, as is reportedly being considered as a possible next move by the White House. President Trump last week launched an investigation into whether auto imports posed a national security risk to the U.S., a justification that might be used to raise the …

The Associated Press reports: The Trump administration announced Thursday it will impose tariffs on steel and aluminum imports from Europe, Mexico and Canada after failing to win concessions from the American allies. Europe and Mexico pledged to retaliate quickly, exacerbating trans-Atlantic and North American trade tensions. The European Commission’s president, Jean-Claude Juncker, said Trump’s decision amounted to trade protectionism and …

The Hill reports: GOP Sen. Orrin Hatch (Utah), the chairman of the Senate Finance Committee, on Thursday, blasted the Trump administration’s decision to slap steel and aluminum tariffs on the European Union, Canada and Mexico saying the financial penalties are a “tax hike on Americans.” “My position remains unchanged: Tariffs on steel and aluminum imports are a tax hike on …

CNBC reports: The United States is likely to impose steel and aluminum tariffs on Canada, Mexico and the EU Thursday, according to a source familiar with the decision. The source, who preferred to remain anonymous due to the sensitivity of the situation, said the tariff decision is coming this morning and is “99.9” percent done. The U.S. expects the EU …

The Hill reports: Retailers are going straight to the source in an expanding effort to stop a potential flurry of steep tariffs proposed by President Trump on foreign-made goods coming into the United States. The National Retail Federation (NRF) has recreated an iconic scene with Ben Stein, an economist and an actor, about tariffs and voodoo economics in the iconic …

The Hill reports: The Tampa Bay Times announced that it would cut about 50 jobs after new tariffs imposed by the Trump administration caused the cost of newsprint to dramatically rise. A spokeswoman for the Times confirmed the layoffs to the Tampa Bay Business Journal, saying they are directly in response to the tariffs imposed on newsprint imported from Canada. …

ThinkProgress reports: The steel and aluminum industries in China will soon be slapped with tariffs up to $50 billion by President Donald Trump. On Thursday, after China announced their intentions to retaliate against the United States with $50 billion in tariffs of their own against U.S. goods, Trump warned that his administration would respond with another set of tariffs, this …

ABC News reports: Stocks fell sharply Friday as trade tensions between the United States and China heated up. The Dow lost nearly 700 points at one point, a drop of more than 2%, after President Donald Trump threatened to escalate a confrontation with China over trade. The S&P 500 and the Nasdaq each declined more than 2%. The Dow Jones …

The Guardian reports: China has implemented retaliatory tariffs of up to 25% on $3bn in food imports from the US, raising uncertainty over the possibility of a trade war between the two countries. China’s ministry of commerce said it would be “suspending tariff concessions” on 120 US food products. Fresh and dried fruits, almonds, pistachios and wine would be subject …

The Street reports: Stocks finished lower on Friday, March 23, as Wall Street fought to recover following sharp losses after Donald Trump moved to slap tariffs on up to $60 billion worth of China-made goods and China reciprocated saying it would target imports from the United States. The Dow Jones Industrial Average was down 424 points, or 1.77%. The S&P …

CNBC reports: The world’s second-largest economy has responded to President Donald Trump’s controversial trade tariffs. China’s commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning. Beijing will take measures against the 128 U.S. goods in two stages if it cannot reach an agreement with Washington, the …

MarketWatch reports: The Dow Jones Industrial Average finished sharply lower as losses gathered steam Thursday, producing the worst loss in a single-session for the blue-chip gauge since Feb.8. Back then in early February, the Dow DJIA, -2.93% fell 1,033 points, or 4.2%, as inflation fears perked up. Thursday’s downtrend, which was broad based, came as investors fretted about the effect …

NPR reports: The Trump administration is preparing to impose at least $50 billion worth of tariffs on Chinese imports, in a major escalation of the president’s “America First” trade policy. President Trump is also calling for new limits on Chinese investment in U.S. technology, in an effort to protect what the administration calls America’s “economic seed corn.” Trump signed a …

CNBC reports: Carl Icahn responded to his critics about his stock sales in Manitowoc amid the possible implementation of tariffs by President Donald Trump, an action that could raise costs for the maker of cranes. “We don’t generally comment on rumors, but the recent media speculation regarding our sale of Manitowoc stock calls for a response. We state for the …

CNN reports: President Trump will meet with the Prime Minister of Sweden followed by a joint press conference at 3:30PM. Trump will face reporters on Tuesday amid questions about chaos inside the White House and new prospects for talks with North Korea. Trump attempted to rebut claims on Tuesday that his West Wing is rattled with disorder and low morale. …

The Hill reports: White House trade adviser Peter Navarro on Monday dismissed concerns that President Trump’s proposed tariffs on steel and aluminum imports will lead to a spike in inflation or larger economic issues. “I think if you’re an investor right now at this point in time trying to look at the chess board here, it’s really important to understand …

The Hill reports: President Trump threatened a new tax on cars imported from the European Union on Saturday, in response to threats of retaliation against new U.S. tariffs. The European Union said Friday it was weighing potential tariffs against a wide range of U.S. goods, in response to Trump’s announcement that the U.S. would impose tariffs of 25 percent on …