Tag Archives: tariffs

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 …

Via press release from the Commerce Department: Today, the U.S. Department of Commerce announced its intent to withdraw from the 2019 Agreement Suspending the Antidumping Investigation on Fresh Tomatoes from Mexico, with termination effective in 90 days. The current agreement has failed to protect U.S. tomato growers from unfairly priced Mexican imports, as Commerce has been flooded with comments from …

NBC News reports: A group of five small businesses on Monday sued President Donald Trump, seeking to block new tariffs that he has imposed on foreign imports in recent weeks. The lawsuit in the U.S. Court of International Trade alleges that Trump has illegally usurped Congress’ power to levy tariffs. “Congress has not delegated any such power,” the suit says. …

The Associated Press reports: Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains. “I’m looking at something to help some of the car companies with it,” Trump told reporters gathered in the Oval Office. He said automakers needed time to …

EuroNews reports: Non-profit Penguins International is making the most of unexpected attention from Trump’s tariffs to organise a protest march – and to raise awareness on the penguin species becoming extinct. Flippers up! Despite a 90-day pause on “reciprocal” tariffs, economic turmoil persists following Donald Trump’s antics, and the penguins aren’t happy about it. In case you missed it, Trump somehow …

The Daily Beast reports: A Wall Street Journal columnist placed his bets on a future Trump impeachment after the president’s chaotic tariff rollout sent markets spiraling last week. Holman W. Jenkins Jr., a columnist and editorial board member at The Journal, wrote in a blistering opinion piece Friday that President Donald Trump appears to be asking for impeachment with his …

Posted this afternoon to Truth Social: NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst! There was no Tariff “exception” announced on Friday. These products are subject to the existing 20% Fentanyl Tariffs, and they are …

ABC News reports: Commerce Secretary Howard Lutnick said Sunday that the administration’s decision Friday night to exempt a range of electronic devices from tariffs implemented earlier this month was only a temporary reprieve, with the secretary announcing that those items would be subject to “semiconductor tariffs” that will likely come in “a month or two.” “All those products are going …

Forbes reports: Chinese social media users—and even some Chinese government officials—are using AI-generated memes to troll President Donald Trump, as his steep tariff hike against Chinese imports prompted retaliatory levies and stoked fears of an all-out trade war. Mao Ning, spokesperson for China’s ministry of foreign affairs, posted a meme on X Thursday morning depicting the cost of Trump’s “Make …

CBS News reports: Some enterprises, from small businesses to nationally recognized brands, have already announced higher prices, citing President Trump’s tariffs. While others, from footwear companies to furniture brands, are warning consumers to brace for increased costs to come. Although the tariffs and retaliatory moves by other countries have yet to hit economic growth, U.S. businesses aren’t waiting around. Some …

The Wall Street Journal editorial board writes: It’s all going according to plan, says the White House, and you almost have to smile at this spin in trying to sell President Trump’s partial tariff reversal this week as a triumph. The reality is that Mr. Trump is making it up as he goes, and it would help if he had …

CNN reports: Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday. April’s reading was lower than anything seen during the Great Recession. President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods …