Tag Archives: tariffs

CNBC reports: Stocks plummeted Thursday, sending the S&P 500 back into correction territory for its biggest one-day loss since 2020, after President Donald Trump unveiled sweeping tariffs, raising the risk of a global trade war that plunges the economy into a recession. The broad market index dropped 4.84% and settled at 5,396.52, posting its worst day since June 2020. The …

“It turns out that the supply chains all across the planet are incredibly complex. And if you like the products that you have at the quality that you have them and at the price that you have them, you’re not gonna get to keep them. Trump’s reciprocal tariffs impose hundreds of billions of dollars in new taxes on Americans without …

Politico Europe reports: Germany’s leaders aren’t concealing their preferred strategy on how to counter U.S. President Donald Trump’s “Liberation Day” tariffs: Retaliate hard enough to get Trump to come to his senses. Economy Minister Robert Habeck called for a firm response to what he termed Trump’s “tariff mania.” “The strategy [must] be aimed at, in the end, not risking or …

From the Wall Street Journal editorial board: Mr. Trump’s tariffs look “reciprocal” in name only. First he’s hitting every nation in the world with a 10% “baseline” tariff to sell in the U.S. market. For those he calls “bad actors,” he’s adding up the country’s tariff rate on U.S. goods, plus an arbitrary estimate of the cost of its “currency …

Reuters reports: China on Thursday urged the United States to immediately cancel its latest tariffs and vowed countermeasures to safeguard its own interests, after President Donald Trump declared sweeping levies on all U.S. trading partners around the world. The U.S. move disregards the balance of interests reached in multilateral trade negotiations over the years and the fact that it has …

Newsweek reports: President Donald Trump’s sweeping new global tariffs will cost the average American family more than $3,500 per year, according to an analysis from a group founded by former Vice President Mike Pence. Advancing American Freedom, a conservative advocacy group, said the additional costs associated with the president’s proposed international tariffs will make the “American Dream unaffordable.” Pence posting …

“I say that what we are doing is we’re setting the stage for long-term economic growth, that we were on our way to a financial crisis. I used to teach a history of financial crises. With gigantic government spending, it was unsustainable. You look back in 1998, you look back in ’07. Right before it looked great, everything collapsed. My …

The Washington Post reports: Senate Republicans — like investors and foreign governments — are nervously waiting for President Donald Trump to detail a new round of tariffs in a 4 p.m. speech at the White House. Trump has described the announcement for weeks as “Liberation Day,” but many Republican senators have expressed at least some concern about the tariffs’ impact …

“Senator Tim Kaine, who ran against me with Crooked Hillary in 2016, is trying to halt our critical Tariffs on deadly Fentanyl coming in from Canada. We are making progress to end this terrible Fentanyl Crisis, but Republicans in the Senate MUST vote to keep the National Emergency in place, so we can finish the job, and end the scourge. …

The Washington Post reports: Scrambling to respond to the Trump administration’s cascading list of tariffs, the European Union is weighing whether to hit one of the most lucrative U.S. exports: billions of dollars’ worth of digital services that American Big Tech companies sell to European consumers. The debate over digital services risks expanding the trade war from manufactured goods such …

NBC News reports: A number of congressional Republicans are publicly voicing concern over the potential for a prolonged trade war and its effect on American farmers as President Donald Trump prepares to announce a new wave of tariffs.  Several GOP lawmakers on Capitol Hill are seeking last-minute carveouts to blunt the impact of those tariffs. House Agriculture Committee chair Glenn Thompson, …

The Telegraph reports: We might think of him as a tax-cutter, an enemy of big government, and an instinctive ally of businesses and consumers, and in his first term he certainly was. And yet as his second term takes shape, President Trump is morphing into something very different. The final details of “Liberation Day” on Wednesday still have to be finalised. …

The Orlando Sentinel reports: Canada is taking its fight against President Donald Trump’s tariffs to Florida’s highways. Billboards paid for by the Canadian government are popping up across the Sunshine State, including one near a 7-Eleven gas station in Winter Springs. Canada’s message to U.S. voters: “Tariffs are a tax on hardworking Americans.” The campaign was launched to heighten the …

The Insider reports: White House Press Secretary Karoline Leavitt said Monday the announcement would feature “country-based” tariffs, but added that the president is also “committed” to implementing sectoral duties at another time. “The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades,” Leavitt told reporters …

Politico Playbook reports: 48 hours out from what Trump has called “Liberation Day” — a moment of protectionism so significant Steve Bannon wants it to be made a federal holiday — there’s still no real clarity about what’s coming. Every business leader and K Street lobbyist will tell you that the thing they hate most is uncertainty. And once again, …

The Washington Post reports: White House aide Peter Navarro claimed Sunday that President Donald Trump’s new tariffs would raise more than $6 trillion in federal revenue over the next decade, a figure that experts said would almost certainly represent the largest peacetime tax hike in modern U.S. history. Appearing on Fox News, Navarro said the president’s tariffs on auto imports, …

FOX HOST SHANNON BREAM: Investopedia says this, ‘If dealerships pass on the full cost to consumers, that would mean an additional $5,000 to $15,000 on imported cars. And because parts that are imported and end up U. S. cars, they could go up substantially some estimates by thousands of cars as well. You heard reporting there where the president says …

NBC News reports: The president said he “couldn’t care less” if automakers raised prices after he announced he would impose 25% tariffs on all foreign-made automobiles. When pressed if he told CEOs not to raise prices, as reported in the The Wall Street Journal, Trump added, “No, I never said that. I couldn’t care less if they raise prices, because …

CBS News reports: Nearly all of the replacement parts on the shelves inside Fred Billeh’s Discount Auto Warehouse in Chicago came from the countries facing new tariffs. He estimates his warehouse carries “millions” of parts. Billeh’s prices increased in 2019 after Mr. Trump imposed tariffs in his first term. He said the added cost gets passed “to the customers, to …

The Business Standard reports: In a high-stakes call with top US automakers earlier this month, US President Donald Trump issued a warning: Do not raise car prices in response to his new tariffs, reported The Wall Street Journal. According to sources familiar with the conversation, Trump cautioned executives that the White House would not look favourably on price increases. His …