Tag Archives: trade wars

Axios reports: Walmart on Tuesday rejected the idea that it would apply an itemized surcharge to purchases to account for President Trump’s increased tariffs. A report Tuesday that Walmart rival Amazon was poised to add a tariff fee to sales in the U.S. triggered outrage in the White House, which condemned it as a “hostile and political act.” Walmart, the …

The New York Times reports: President Trump’s China tariffs are threatening Christmas. Toy makers, children’s shops and specialty retailers are pausing orders for the winter holidays as the import taxes cascade through supply chains. Factories in China produce nearly 80 percent of all toys and 90 percent of Christmas goods sold in America. The production of toys, Christmas trees and …

CNN reports: The White House took aggressive aim at Amazon, with President Donald Trump putting in a call to Amazon founder Jeff Bezos Tuesday morning, after the company considered displaying the added cost of tariffs on certain items. Trump called Bezos to complain about reports that Amazon was considering displaying the cost of US tariffs next to prices for certain …

The New York Times reports: Displaying the import fees would have made clear to American consumers that they are shouldering the cost of President Trump’s tariff policies rather than China, as he and his top officials have often claimed would be the case. An Amazon spokesman said the company had considered a similar idea on part of its site, Amazon …

From the Wall Street Journal editorial board: Mr. Trump was elected to control inflation and raise real incomes, but tariffs do the opposite. They guarantee at least a one-time increase in prices on imported goods that will flow through the economy. They portend shortages for consumers, and for businesses that source goods and components from abroad. It’s a mistake to …

The Daily Beast reports: President Donald Trump is deep in denial about his record-low approval ratings. “The Polls from the Fake News are, like the News itself, FAKE!” he wrote late Monday night on Truth Social. “We are doing GREAT, better than ever before.” Survey respondents gave Trump just a 38 percent approval rating on the economy, which has traditionally …

ABC News reports: Treasury Secretary Scott Bessent in various TV hits Monday that it’s “up to China to de-escalate” the trade war. Bessent also said that “all aspects of government are in contact with China,” even as Beijing continues to deny there are any tariff talks between the two governments. “So, they, you know, all aspects of government are in …

Politico Europe reports: Britain and the European Union are set to sign a formal declaration committing to “free and open trade” in defiance of Donald Trump’s tariff agenda. A leaked draft seen by POLITICO promises a “new strategic partnership” between London and Brussels based on “maintaining global economic stability and our mutual commitment to free and open trade.” It comes as …

Mediaite reports: President Donald Trump is vowing such success with his widely-derided tariff plan that income taxes could be “completely eliminated” for many American workers. In a Sunday morning post on Truth Social, the president made a bold pledge about the degree to which he believes his tariffs will work. New polling shows Americans are highly skeptical the tariffs will …

Axios reports: American retailers are growing worried that President Trump’s trade war and increased volatility will lead to empty shelves, higher prices and store closures as Chinese imports screech to a halt. Many retailers stocked up on inventory in the first months of 2025, realizing that a storm was coming — but their inventories are poised to dwindle quickly. The …

Supermarket News reports: Albertsons is taking a hard-line approach with suppliers regarding cost increases tied to tariffs. Omer Gajial, the grocer’s head of merchandising, told suppliers via letter that Albertsons will not accept cost increases. Those wishing to propose a price change must follow a multi-step process, Forbes reported. The letter, sent in March, stated that suppliers may not include …

ABC News reports: Seven in 10 Americans think President Donald Trump’s tariffs on international trade will drive up U.S. inflation, outweighing hopes that they’ll boost manufacturing employment and fueling a 64% disapproval rate of how he’s handling the issue. Even nearly half of Republicans — 47% in the ABC News/Washington Post/Ipsos poll released Friday — said they think tariffs will …

Reuters reports: A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry’s U.S. trade group and reviewed by Reuters shows. The analysis, conducted by Ernst & Young, found the United States imported $203 billion in pharmaceutical …

ABC News reports: President Donald Trump, in a wide-ranging interview with Time magazine published Friday, claimed he’s already “made 200 deals” on tariffs and said he’s spoken with Chinese President Xi Jinping. In the cover story, in which Trump’s discussed his first 100 days in office, the president was asked about White House trade adviser Peter Navarro’s prediction of “90 …

Axios reports: California’s economy has surpassed Japan’s, state Gov. Gavin Newsom announced, as he warned of potential impacts in the Golden State from President Trump’s sweeping tariffs. “CA just became the 4th largest economy in the WORLD,” Newsom said on X Thursday, after his office announced data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis. …

The Hill reports: China canceled 12,000 metric tons of United States pork shipments amid a high-stakes trade standoff between the superpowers, according to data released Thursday. China, one of the biggest U.S. trading partners, axed 12,000 metric tons of U.S. pork orders, the data from the U.S. Department of Agriculture (USDA) shows. The move represents the biggest cancellation of pork …

The Hill reports: National Economic Council (NEC) Director Kevin Hassett dismissed the notion that President Trump is worried about empty shelves in supermarkets and households due to the ongoing tariff war and claimed the U.S. is actively engaged in trade negotiations with scores of countries around the world. “No, absolutely not,” Hassett said Wednesday night in an interview on Fox …

The Associated Press reports: A dozen states sued the Trump administration in the U.S. Court of International Trade in New York on Wednesday to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy. The lawsuit said the policy put in place by President Donald Trump has left the national trade policy subject to …

Axios reports: President Trump got a scare from CEOs and markets on Monday. On Tuesday, he blunted some of his sharpest threats — signaling a softer stance on China and retreating from fiery rhetoric targeting the Fed. Monday was a tough day for Trump’s goal of reshaping the global economy. The CEOs of three of the nation’s biggest retailers — …

From the Wall Street Journal editorial board: If the White House wanted a test of how firing Jerome Powell would go over in the markets, it succeeded on Monday. U.S. stocks and the dollar plunged while yields on long-term Treasurys climbed after President Trump renewed his attacks on the Federal Reserve Chairman. Mr. Trump thinks he can bully everyone into …