Tag Archives: tariffs

Trump: Republican Senators Have No Idea What They’re Talking About When It Comes To Tariffs, Absolutely Not

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,” …

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Republican Senators Warn Trump Against Tariffs On Mexico: “We’re Holding A Gun To Our Own Heads”

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, …

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Mexico Rejects Trump Admin On Asylum Policy Change

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 …

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Trump Admin Considered Trade Tariffs On Australia

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 …

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Trump Administration Strips India Of Tariffs Exemption

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 …

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WINNING: Costco To Raise Prices Because Of Tariffs

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 …

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WINNING: Car Stocks Crater $18B Because Trump

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 …

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GOP Sen. Chuck Grassley Blasts Trump’s Mexico Tariffs

“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 …

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Trump Announces “Gradually Increasing” Tariffs On All Mexican Goods Until They “STOP Illegal Migrants”

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 …

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WINNING: China Halts Soybean Buys From US Farmers

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 …

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China Mulls Restricting Exports Of Tech Elements To US

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 …

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Trump Announces $14.5B In “Direct Payments” To US Farmers, Claims The Money “All Comes From China”

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 …

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Walmart Announces Higher Prices Due To Tariffs

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 …

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Macy’s Warns Of Rising Prices Due To Trump’s Tariffs

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 …

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Trump Chewed Out Larry Kudlow For Admitting That US Consumers Pay His Tariffs, Not China’s Government

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 …

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Farmer Who Voted For Trump Laments Cratering Crop Prices After Tariffs: “Agriculture Is In Free Fall” [VIDEO]

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 …

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China Calls For “People’s War” Over $300B In US Tariffs

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 …

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Trump: “Patriot Farmers” Will Benefit From My Tariffs

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 …

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Sen. Tom Cotton: Trump’s Tariffs Will Cause “Sacrifices” But It’s Nothing Compared To Soldiers Killed In Battle

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 …

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Trump Seeks $15B For Farmers Hurt By His Tariffs

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 …

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