Tag Archives: trade wars

Forbes reports: The number of Canadians taking road trips into the U.S.—representing the majority of Canadians who visit—dropped by 35% last month compared to April 2024, according to new data from Statistics Canada. There was also a 20% decline in air travelers from Canada compared to April 2024. It was the fourth consecutive month of steep declines in inbound Canadian …

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!” – Trump, after Walmart yesterday announced that …

Politico reports: President Donald Trump on Friday said the U.S. would begin unilaterally informing many of its trading partners of new tariff rates, rather than securing deals with the countries individually as the White House has repeatedly promised. After his sweeping April tariff plan sent markets spiraling and set in motion a global trade war, Trump reversed course and issued …

CNN reports: Walmart, the world’s largest retailer, warned that is not immune from President Donald Trump’s tariffs. It plans to raise prices on some items as Trump’s global trade war sends the company’s costs higher. “We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels …

ABC News reports: A panel of judges on the Court of International Trade today heard arguments in a lawsuit challenging Trump’s sweeping tariffs, as the president’s trade war continues to disrupt the international economy and raise the specter of a recession. The lawsuit was filed last month by a group of small businesses, including a New York liquor distributor, Utah …

CNN reports: Chinese leader Xi Jinping says “bullying” and “hegemonism” will only backfire, in a veiled reference to the United States just a day after a temporary truce was agreed in the trade war between the world’s two largest economies. Xi chose to deliver this message, which paints China as a global leader and defender of free trade, at a …

Bloomberg News reports: Because the process of bringing goods to the US starts months in advance of their appearance on store shelves, a whole host of disruptions has already been baked into the rest of 2025, even if the average person can’t see them yet. In particular, it could be slim pickings for many seasonal goods commonly imported from China—prom …

The New York Times reports: The U.S. welcome mat is rolling up — at least that’s how some international travelers see it, according to the World Travel & Tourism Council, a global organization representing the travel and tourism industry. And the cost for that hospitality lapse will be high. The United States is on track to lose $12.5 billion in …

The Washington Post reports: Inflation ticked up in April after an unexpected slowdown the month before, but the annual rate pace of inflation eased slightly to 2.3 percent compared to March, in a first test of Trump’s tariff policies. The Labor Department’s consumer price index, a key gauge of inflation, rose 0.2 percent last month, reversing a slight decline in …

Reuters reports: While their joint statement in Geneva didn’t mention the de minimis duties, the White House order released later said the levies will be reduced to 54% from 120% for items valued at up to $800 sent from China via postal services, with a flat fee of $100 to remain, starting from May 14. Carriers can pay either the …

“BREAKING: Trump raised tariffs on the world, the markets, particularly the bond market — which we need to finance our debt–rebelled. Trump then was forced to back off. End of story. Film at 11 of the president spinning this as a major victory. Ok sorry, I couldnt help myself. But what we have seen is a little lesson on how …

The New York Times reports: The United States and China said Monday they reached an agreement to temporarily reduce the punishing tariffs they have imposed on each other while they try to defuse the trade war threatening the world’s two largest economies. In a joint statement, the countries said they would suspend their respective tariffs for 90 days and continue …

CTV News reports: Expedia Group said Friday that reduced travel demand in the United States led to its weaker-than-expected revenue in the first quarter. In a conference call with investors Friday, Expedia CEO Ariane Gorin said U.S. demand was even softer in April than March. Expedia, which owns the lodging reservation platforms Hotels.com and VRBO as well as an eponymous …

Newsweek reports: President Donald Trump has threatened to place a 100 percent tariff on Barbie maker Mattel, after the company’s CEO said it would continue to manufacture outside the U.S. but would be reducing its reliance on Chinese imports. “I’ve heard [Mattel] said: ‘Well we’re going to go counter, we’re going to try going someplace else,'” Trump said in the …

Via press release: Today, Congressman Jamie Raskin (MD-08) introduced legislation to show Americans exactly how much of a dent the ‘Trump Tariffs’ are putting in their wallets. The Truth in Tariffs Act requires large retailers to clearly display the portion of an item’s price attributable to tariffs. At a time of increasing economic chaos generated solely by President Trump, this …

The Huffington Post reports: Vice President JD Vance on Thursday defended President Donald Trump’s statement that children will just have to deal with having fewer dolls as a result of his tariffs by offering parents a wild counterpoint: Those kids could go to war. “What I’d ask people is not whether they want two dolls or five dolls or 20 …

Axios reports: President Trump called the slowdown at U.S. ports in the wake of his tariffs on China going into effect a “good thing.” West Coast ports warn of plunging cargo volume, with likely far-reaching economic effects in the weeks and months ahead. Trump falsely suggested that the dock slowdown is a positive sign for the U.S. economy. “We’re seeing …

The New York Times reports: President Trump announced a trade agreement with Britain on Thursday that he said would be the first of many to remake the global trading system — even as he said its details would be finalized in the coming weeks. Mr. Trump, speaking from the Oval Office with Prime Minister Keir Starmer of Britain on speakerphone, …

The Hill reports: President Trump tore into Federal Reserve Chair Jerome Powell early Thursday, a day after the central bank opted to hold interest rates steady — bucking calls from the president to lower borrowing costs. “‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue,” Trump wrote on his Truth Social platform. “Other than that, I like …

The New York Times reports: A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen inflated the value of the company’s earnings. That May, Toyota reported the highest annual profit ever recorded by a Japanese firm. On Thursday, Toyota presented a significantly more somber outlook, projecting that …