Tag Archives: tariffs

From the Wall Street Journal editorial board: Mr. Trump was elected to control inflation and raise real incomes, but tariffs do the opposite. They guarantee at least a one-time increase in prices on imported goods that will flow through the economy. They portend shortages for consumers, and for businesses that source goods and components from abroad. It’s a mistake to …

Politico Europe reports: Britain and the European Union are set to sign a formal declaration committing to “free and open trade” in defiance of Donald Trump’s tariff agenda. A leaked draft seen by POLITICO promises a “new strategic partnership” between London and Brussels based on “maintaining global economic stability and our mutual commitment to free and open trade.” It comes as …

Reuters reports: Amazon’s Prime Day is losing its luster among a critical group: sellers. Some third-party merchants who previously sold China-made goods during Amazon’s premier July shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer. The planned pullback, which hasn’t been previously reported, is a way for sellers to protect profit margins …

Mediaite reports: President Donald Trump is vowing such success with his widely-derided tariff plan that income taxes could be “completely eliminated” for many American workers. In a Sunday morning post on Truth Social, the president made a bold pledge about the degree to which he believes his tariffs will work. New polling shows Americans are highly skeptical the tariffs will …

Axios reports: American retailers are growing worried that President Trump’s trade war and increased volatility will lead to empty shelves, higher prices and store closures as Chinese imports screech to a halt. Many retailers stocked up on inventory in the first months of 2025, realizing that a storm was coming — but their inventories are poised to dwindle quickly. The …

Supermarket News reports: Albertsons is taking a hard-line approach with suppliers regarding cost increases tied to tariffs. Omer Gajial, the grocer’s head of merchandising, told suppliers via letter that Albertsons will not accept cost increases. Those wishing to propose a price change must follow a multi-step process, Forbes reported. The letter, sent in March, stated that suppliers may not include …

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 …