Tag Archives: trade war

The New York Times reports: President Trump announced sweeping tariffs on foreign steel and aluminum on Monday, re-upping a policy from his first term that pleased domestic metal makers, but hurt other American industries and ignited trade wars with allies on multiple fronts. The president signed two official proclamations Monday evening that would impose a 25 percent tariff on steel …

Reuters reports: U.S. President Donald Trump is expected to announce new tariffs against Canada and Mexico that will begin on March 1, but will include a process for the countries to seek specific exemptions for certain imports, three people familiar with the planning told Reuters. The tariff situation remained fluid on Friday and no decision is final until Trump makes …

The Des Moines Register reports: U.S. Sen. Chuck Grassley predicted that President-elect Donald Trump’s proposed tariffs on Mexico, Canada and China will be used as a “negotiating tool” to put pressure on the three largest U.S. trade partners. Grassley has previously warned Trump that his tariffs could be damaging. He several times has cited the Hawley Tariff Act signed by …

Reuters reports: About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co, Target Corp, Walgreen Co and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than $300 billion in Chinese-made goods. The suits, filed in the U.S. Court of International Trade, named U.S. Trade Representative Robert Lighthizer and the …

This story has so much self-owning: For Christians who would rather celebrate Christ on Halloween instead of its pagan origins in Samhain, a company called Scripture Candy based in Alabama is offering blessed candy wrapped in bits of Scripture and inspirational messages to share with those who come to your door even as the company’s owners struggle to survive President …

Reuters reports: Beijing is “seriously considering” restricting exports to the United States of rare earths, 17 key chemical elements used in high-tech consumer electronics and military equipment, the editor in chief of China’s Global Times said on Tuesday. Rising trade tensions have led to concerns that Beijing will use its dominant position as a supplier of rare earths for leverage …

The Hill reports: Harley-Davidson said on Tuesday that their earnings per share were essentially wiped out in the final quarter of 2018 after the company got caught up in President Trump’s tariff war. Bloomberg reported Tuesday that Harley-Davidson’s profit, excluding tariff and restructuring costs, was 17 cents per share, falling short of analysts’ average estimate of 29 cents per share. …

Bloomberg reports: The number of Americans expecting the U.S. economy to get worse in the next year is at its highest point since 2013, a national NBC/Wall Street Journal poll shows. A majority of Americans also say President Donald Trump has been untruthful about the investigation into Russia’s interference in the 2016 campaign, and half say the probe has given …

MarketWatch reports: Stocks ended the week on a down note Friday, falling sharply on worries about global growth after weaker-than-expected Chinese data. The Dow Jones Industrial Average DJIA, -2.02% fell around 496 points, or 2%, to finish near 24,101, according to preliminary figures. The close put the Dow back into correction territory, defined as a pullback of at least 10% …

The Associated Press reports: The Commerce Department said Thursday that the gap between the United States sells and what it buys from foreign countries hit $55.5 billion in October, the fifth straight increase and highest since October 2008. The politically sensitive deficit in the trade of goods with China rose 7.1% to a record $43.1 billion.  The goods gap with …

ABC News reports: The latest round of tariffs on products from China proposed by President Donald Trump could double the price of “Make America Great Again” hats inspired by his 2016 campaign slogan, according to a merchandiser who imports them. The new tariffs announced Thursday would hit $200 billion worth of Chinese imports, especially consumer goods, including the popular hats …

CNN reports: China on Friday accused the United States of starting “the biggest trade war in economic history” as the two sides imposed steep new tariffs on tens of billions of dollars of each other’s exports. The Trump administration’s 25% tariffs affect more than 800 Chinese products worth $34 billion such as industrial machinery, medical devices and auto parts. They …

CBNC reports: Stocks fell sharply on Tuesday after President Donald Trump’s latest threat to China increased fears of an impending trade war between the world’s largest economies. The Dow Jones industrial average fell 324 points at the open, with Boeing and Caterpillar as the worst-performing stocks in the index. The 30-stock index also erased all of its gains for the …

MarketWatch reports: The Dow Jones Industrial Average finished sharply lower as losses gathered steam Thursday, producing the worst loss in a single-session for the blue-chip gauge since Feb.8. Back then in early February, the Dow DJIA, -2.93% fell 1,033 points, or 4.2%, as inflation fears perked up. Thursday’s downtrend, which was broad based, came as investors fretted about the effect …

The Hill reports: President Trump threatened a new tax on cars imported from the European Union on Saturday, in response to threats of retaliation against new U.S. tariffs. The European Union said Friday it was weighing potential tariffs against a wide range of U.S. goods, in response to Trump’s announcement that the U.S. would impose tariffs of 25 percent on …

CNBC reports: Stocks fell on Thursday after President Donald Trump said the U.S. will implement tariffs on steel and aluminum imports next week. The Dow Jones industrial average closed 431 points lower after rising more than 150 points earlier in the day. The 30-stock index fell as much as 586 points. The S&P 500 declined 1.4 percent — erasing its …

The New York Times reports: President Trump said on Thursday that he will impose stiff and sweeping tariffs on imports of steel and aluminum as he moved to fulfill a key campaign promise to get tough on foreign competitors. Mr. Trump said he would formally sign the trade measures next week and promised they would be in effect “for a …

The Hill reports: LG Electronics is planning to raise prices on some of its washer and dryer models in response to President Trump’s decision this week to impose hefty new tariffs on imported washing machines. The president on Monday levied tariffs on washers made by LG and Samsung as part of an effort to help U.S. based Whirlpool. “As a …

“If they made it in Kansas and it cost $5,000, I’m still gonna need it. You’re still gonna need it. That money is then going to support a family in Kansas where you’ve got parents who are going to work. They have the pride of work and they’re able to take care of their family and, guess what, you and …

The Associated Press reports: The White House will hold a press briefing Tuesday afternoon with press secretary Sarah Sanders. The briefing is scheduled to start at 2:30 p.m. EST. President Donald Trump signed a bill reopening the government late Monday, ending a 69-hour display of partisan dysfunction after Democrats reluctantly voted to temporarily pay for resumed operations. They relented in …