Tag Archives: tariffs

Trump Lashes Out At “Fake News” CNN Reporter For Question About Trade War Tensions With Allies [VIDEO]

Even on the world stage, he just cannot resist: President Trump slammed CNN as “fake news” after a reporter with the news organization asked him a question during a press briefing at the Group of Seven (G-7) summit. After the reporter asked Trump a question about tensions between him and other leaders at the G-7 summit, the president asked what …

Read More »

GOP Senator Blasts Trump’s “Not Grownup” Leadership: We’re About To Have A Full-Scale Trade War [VIDEO]

CBS News reports: Outspoken Trump critic Sen. Jeff Flake, R-Arizona, is lashing out against the administration’s latest tariff policy leveled against U.S. allies, calling the move “not grown-up leadership” in excerpts of remarks he delivered on the Senate floor on Thursday. The administration announced the move to impose tariffs last week after President Trump initially proposed them back in March, …

Read More »

ARKANSAS: Three Tire Makers Request Exemption From Trump’s Steel Tariffs Or They Will Go Out Of Business

Arkansas Online reports: Bekaert Corp., Kiswire America and Tokusen USA jointly requested blanket exclusion from what they described as “grade 1078 and above wire rod for tire cord” that they import, arguing that the quality of wire rod they require is unavailable from U.S.-based steel producers. If they can’t get access to the imported steel they need, the companies say …

Read More »

Merkel Predicts “Contentious” G7 Summit With Trump

The Associated Press reports: Before President Donald Trump sits down with a third-generation North Korean autocrat, he will face what may well turn out to be a tougher crowd — some of America’s oldest allies. With his new tariffs increasing U.S. isolation, Trump heads to Canada on Friday for a meeting of the Group of Seven industrialized nations. The White …

Read More »

Corker Rebuffs Trump’s Plea To Drop Anti-Tariffs Bill

The Washington Post reports: Sen. Bob Corker (R-Tenn.) introduced a bipartisan bill Wednesday that would give Congress new authority to check the president’s trade moves, going forward with the legislation after rebuffing a personal appeal from President Trump to back off. Corker’s bill would require congressional approval when the president enacts tariffs under the auspices of national security, as Trump …

Read More »

Senate Bill Would Rein In Trump’s Tariffs Authority

The Hill reports: Senators are planning to introduce legislation as soon as Tuesday to require President Trump to get congressional approval for tariffs implemented for national security purposes. Sen. Bob Corker (R-Tenn.), who is spearheading the legislation, told reporters that he will roll out the bill as early as Tuesday and wants to try to get it attached to a …

Read More »

McConnell Begs Trump To Pull Back From Tariffs

The Louisville Business Journal reports: Senate Majority Leader Mitch McConnell (R-Ky.) is urging President Trump to “pull back from the brink” from an international fight over tariffs, warning they could start a “trade war.” “I don’t think anything good will come out of a trade war, and I hope we pull back from the brink here,” McConnell said at the …

Read More »

Trump Lies Again About Canadian Trade Surplus

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 …

Read More »

Trudeau Blasts Trump On “Totally Unacceptable” Tariffs: We See No Sign Of Common Sense In This [VIDEO]

“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 …

Read More »

Paul Ryan: I “Disagree” With Trump’s Tariffs On Allies

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 …

Read More »

Japanese PM: We Cannot Accept Trump’s Auto Tariffs

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 …

Read More »

Mexico Hits Back At Trump With Tariffs On US Goods

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 …

Read More »

Hatch: Trump’s Tariffs Are A “Tax Hike On Americans”

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 …

Read More »

Trump To Hit Mexico, Canada, And EU With Steel And Aluminum Tariffs, Retaliation Expected To Be Swift

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 …

Read More »

Retailers Group Recreates Ferris Bueller Scene To Teach Trump That Tariffs Are “B-A-D Economics” [VIDEO]

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 …

Read More »

Storied Paper Cuts Jobs Over Trump’s Newsprint Tariff

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. …

Read More »

Ivanka’s Clothing Line Spared From Tariffs

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 …

Read More »

Stocks Tank Once Again Over Trade War Tensions

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 …

Read More »

China Retaliates With Tariffs On US Food Imports

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 …

Read More »

Stocks Dive Another 424 Points, Down 1360 For Week

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 …

Read More »