Tag Archives: tariffs

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 …

Fierce Pharma reports: As President Donald Trump renewed his threat of potential pharmaceutical tariffs this week, trade group the Biotechnology Innovation Organization (BIO) is warning of the fallout the additional duties could have on patients’ access to medicines. Nearly 90% of U.S. biotech companies rely on some imported materials for at least half of their FDA-approved products, a BIO survey …

The New York Times reports: President Trump said he would impose a 25 percent tariffs on cars that are imported into the United States on Wednesday. The tariffs will apply to finished cars and trucks that are shipped into the United States, including American brands whose automobiles are assembled overseas, and could raise prices for consumers significantly. Nearly half of …

Nashville’s ABC affiliate reports: A Canadian airline says it is canceling flights between Canada and a Tennessee city already targeted by the country’s tariffs. In response to tariffs enacted by Trump, Canadians have made their opinion of the U.S. clear, booing the country’s national anthem and removing American-made goods — including Tennessee whiskey — from their store shelves. “I can …

The Washington Post reports: White House aides are preparing to impose new tariffs on most imports on April 2, laying the groundwork for an escalation in global economic hostilities that President Donald Trump has called “Liberation Day.” Through his first two months in office, the president has raised tariffs on roughly $800 billion in imports from China, Mexico and Canada, …

NBC News reports: As tariff threats hovered last month, Air Canada told investors it was pre-emptively reducing March capacity to Las Vegas and other leisure destinations in Florida and Arizona that are typically popular with Canadian travelers. A spokesperson for the airline said this week that the situation remains “very fluid” and declined to comment further. The CEO of Calgary-based …

“Look, I was with the Business Roundtable yesterday. I think it was 100, 135 CEOs. And, you know, I talked to them about our plan, which includes tariffs, deregulation and what I call reprivatizing the government and bringing down this incredible bubble of government spending. “And you know what? One or two items were with one trading bloc. I’m not …

“What is the goal of all of this? Seriously, I don’t understand. What is the goal? I want President Trump to succeed. If President Trump is to succeed, we need a thriving economy. Declaring a trade war on Canada under the terms of the USMCA, which he himself negotiated in Trump term one, is not going to be a productive …

NBC News reports: Canada on Wednesday announced new trade duties on some $21 billion worth of U.S. goods in response to President Donald Trump implementing universal steel and aluminum tariffs. America’s northern neighbor is the largest foreign supplier of steel and aluminum to the U.S., and experts have warned Trump’s duties would be passed on to consumers. In a news …

ABC News reports: The European Union responded on Wednesday to the Trump administration’s metals tariffs, saying member states would place countermeasures on some 26 billion euros, or about $28 billion, worth of U.S. goods. The U.S. at midnight began imposing 25% tariffs on all steel and aluminum imports from all trading partners, with no exceptions or exemptions, the White House …

Canada’s Global News reports: Ontario “won’t back down” after U.S. President Donald Trump called for a further tariff hike in response to the province’s 25 per cent export tax on electricity. Premier Doug Ford delivered that remark in an interview with MSNBC Tuesday morning, within an hour after Trump said he’ll add an additional 25 per cent tariff to Canadian …

The Washington Post reports: Chinese tariffs on a wide array of U.S. agricultural products took effect Monday as Beijing remains defiant in the face of U.S. pressure — while urging Washington to come to the negotiating table. China’s decision to impose tariffs of up to 15 percent on products including corn, soybeans and beef starting Monday targets some of the …

Politico reports: Former Vice President Mike Pence is breaking with his former boss, criticizing the Trump administration’s tariffs strategy and calling for free trade to lower the cost of goods. Pence responded to comments from Secretary of the Treasury Scott Bessent defending the tariff policy despite the possibility of it causing economic disruptions. “Access to cheap goods is not the …

Semafor reports: Canada’s new Prime Minister Mark Carney delivered fighting talk in his acceptance speech after being elected Liberal Party leader Sunday night, vowing to resist US threats of annexation and to maintain tariffs on US imports until “America shows us some respect.” “Canada never, ever, will be part of America in any way, shape or form,” Carney said. “We …

The CBC reports: Sen. Patrick Brazeau wants to punch Donald Trump in the face. Not the U.S. president, but his son, Donald Trump Jr. The Quebec senator took to social media on Thursday to challenge the younger Trump to a charity boxing match. “In light of these bogus tariffs … I challenge you to a fight to raise money for …

From the Wall Street Journal editorial board: President Trump delayed his Mexico-Canada tariffs again on Thursday—this time for another month. He’s treating the North American economy as a personal plaything, as markets gyrate with each presidential whim. It’s doubtful Mr. Trump even has the power to impose these tariffs, and we hope his afflatus gets a legal challenge. The Constitution …

The New York Times reports: President Trump said on Thursday that he would allow both Mexico and Canada to avoid tariffs on most exports to the United States for one month, saying he would exempt products that are traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed in his first term. The move came a day …

CNBC reports: It has been a week of retaliatory actions, warnings of price hikes from businesses and wild price swings in the markets. Investors and business leaders, on edge about an escalating trade war, continue to monitor fast-paced headlines from the Trump administration. President Donald Trump said he’s pausing tariffs for Mexican goods and services covered by the North American …

Reuters reports: U.S. retail gasoline prices are set to climb in the coming weeks as new tariffs imposed by the administration of President Donald Trump raise the cost of energy imports, according to traders and analysts. The outlook underscores an unintended consequence of Trump’s protectionist trade policies, which are meant to boost the U.S. economy but could instead lead to …