Tag Archives: trade wars

Trump Blames Market Plunge On Midterms (It’s Tariffs)

Politico reports: President Donald Trump on Tuesday claimed that the stock market was taking a “little pause” amid anticipation for next week’s midterm elections. After rising more than 350 points Monday morning, the Dow Jones industrial average took a 566-point plunge before closing down after Bloomberg reported that the administration was readying to announce a fresh round of tariffs on …

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Dow Jones Plummets 1376 Points In Two Days

NBC News reports: Wall Street had another rough day on Thursday, with the tech-heavy Nasdaq index dipping into correction territory and the Dow Jones closing 548 points down after another day of market convulsions. Thursday’s market mayhem followed a global ricochet triggered the previous day when the Dow Jones tumbled by more than 800 points to its lowest level since …

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Ford Announces Layoffs, Tariffs Have Cost Them $1B

NBC News reports: Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a “redesign” of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company announced. The number of jobs that will be axed is unknown at this point. “A lot of the (reorganization) is about making …

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US And Canada Reach Last Minute NAFTA Deal

Bloomberg reports: U.S. President Donald Trump is set to sign a successor to the North American Free Trade Agreement that will make modest revisions to a deal he once called a “disaster,” easing uncertainty for companies reliant on tariff-free commerce. U.S. and Canadian negotiators worked around the clock this weekend to secure an agreement just before a Sunday midnight deadline, …

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Trump Threatens Unspecified Countries With Tariffs

Business Insider reports: President Donald Trump escalated his trade-war rhetoric on Monday, threatening unspecified countries with tariffs if they “will not make fair deals with us.” The US is already engaged in a trade war with China and is expected to levy new tariffs on $200 billion worth of Chinese goods as soon as Monday, on top of the tariffs …

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Trump Plans To Rebrand NAFTA Pact As “USMC”

The Hill reports: President Trump told donors that he hopes to rebrand the North American Free Trade Agreement (NAFTA) among the U.S., Mexico and Canada as the “USMC” pact, The Wall Street Journal reported Thursday. If the U.S. is unable to come to terms on a deal with Canada, Trump said he’s willing to drop the “C” from the new …

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Trump: Apple Prices May Rise Due To My Tariffs

Politico reports: President Donald Trump on Saturday warned that the prices of Apple products may climb as a result of a new round of proposed tariffs against China, and called on the technology giant to bolster production at home to avoid the consequences of an escalating trade war. The president on Friday threatened to impose tariffs on another $267 billion …

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Trump Threatens To “Terminate NAFTA Entirely”

The Daily Beast report: President Trump on Saturday threatened to exclude Canada from a new NAFTA deal and “terminate” the trade pact entirely if Congress gets involved in negotiations. He went on to warn Congress, which has authority over trade agreements, “not to interfere” or he will scrap NAFTA altogether. Under NAFTA rules, Trump can withdraw the U.S. from the …

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Ford Cancels China-Made Import Because Trump

Bloomberg News reports: Ford Motor Co. is canceling plans to import a new crossover model from a plant in China after President Donald Trump’s tariffs undermined the business case for bringing the vehicle to the U.S. market. Trump’s move to slap China-built autos with an additional 25 percent levy in July undermined the profitability of the Focus Active that Ford …

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Trump Explodes Over Leak To Canadian Press

The Hill reports: President Trump blasted the news media on Friday after apparently off-the-record comments he made about Canada were leaked, calling it another example of “dishonest reporting.” Trump’s attack on the media came only hours after The Toronto Sun reported that Trump privately said he wouldn’t compromise in regards to trade with Canada. It is unclear how The Sun …

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Trump Administration To Pay $4.7 Billion In Relief To US Farmers Hurt By Trump’s Stupid Trade War With China

NPR reports: The Department of Agriculture will pay $4.7 billion to farmers growing soybeans, cotton and other products hit by tariffs in the Trump administration’s hard-line trade war with China, announcing the first batch of payments from a $12 billion government aid package. Starting next Tuesday, the agency will take applications from farmers who produce corn, cotton, dairy, hogs, sorghum, …

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Trump Says He’ll Terminate NAFTA, Threatens Canada

The Associated Press reports: President Donald Trump says he’ll be “terminating” the North American Free Trade Agreement as he pursues a deal with Mexico and starts negotiations with Canada. Trump said Monday during an Oval Office event that he’ll be calling the emerging agreement the “United States-Mexico Trade Agreement.” He says it will mark the end of the NAFTA name. …

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China Retaliates As Billions In New US Tariffs Kick In

CNBC reports: A new round of U.S. tariffs on $16 billion worth of Chinese imports kicked in on Thursday, prompting Beijing to retaliate with its own levies on American goods worth the same amount. The latest trade escalation comes as officials from the world’s two largest economies meet for tariff negotiations in Washington. At 12.01 a.m. EDT on Thursday, the …

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Bikers To Boycott Harley-Davidson Because Trump

The New York Times reports: Gary Rathbun rumbled into South Dakota to attend the United States’ pre-eminent gathering of motorcycle enthusiasts atop his Harley-Davidson, a 2009 Ultra Classic that brought him 800 miles from Idaho. It is the 40th Harley he has owned. It will also likely be his last. Like many of Harley’s most loyal customers, Mr. Rathbun was …

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Trump To Dine Tonight With Apple CEO Tim Cook

The Hill reports: President Trump will dine with Apple CEO Tim Cook on Friday, praising the tech leader in a tweet for making investments in the U.S. Trump announced late Friday that he would meet with the CEO, a dinner conversation that will take place just days after the president met with a number of business leaders representing various industries …

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SOUTH CAROLINA: Tariffs To Shutter Television Plant

CNBC reports: A South Carolina television maker says it’s laying off 126 workers because of President Donald Trump’s tariffs on imports from China. Element TV Company said in a letter to state employment officials Monday that workers will be let go Oct. 5, leaving a skeleton crew of eight employees to watch the Fairfield County plant in hopes it can …

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Trump Boasts About “Most Biting” Sanctions On Iran

Politico reports: President Donald Trump wrote on Twitter Tuesday that he is seeking “world peace” by imposing “the most biting sanctions ever” against Iran, the latest example of escalating tensions between the two nations. The sanctions were previously softened by the Obama administration as part of a landmark 2015 nuclear agreement with Iran. Trump scrapped that deal in May, putting …

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Trump Brags About Trade Deal As Farmers Lose Money

ABC News reports: Pig prices are plunging – so, too, those of American soybeans. America’s heartland farmers, in states largely supportive of President Donald Trump, say they are starting to feel real financial pain from a tit-for-tat trade war Trump once promised will be “easy to win.” “We have loss of confidence in our products and we have loss of …

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LIVE VIDEO: Trump Holds Joint Presser With EU Leader After Reportedly Striking Deal To Avoid Trade War

The Wall Street Journal reports: The European Union delegation meeting with President Donald Trump Wednesday agreed to some concessions in an effort to avoid a trade war with the U.S., according to a European official in the room. The official said European Commission President Jean-Claude Juncker and his top trade official Cecilia Malmström agreed to work with the U.S. administration …

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Agriculture Sec. Sonny Perdue Unveils $12B Bailout Of US Farmers Due To China’s “Illegal Retaliatory Tariffs”

The Hill reports: The Department of Agriculture (USDA) on Tuesday announced it would offer $12 billion in aid to farmers hindered by retaliatory tariffs imposed on U.S. grain, produce and meat exports as the Trump administration digs in for a protracted trade battle. The department will use the emergency aid to assist and buy crops from farmers who’ve lost billions …

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