Tag Archives: tariffs

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, …

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 …