Tag Archives: trade wars

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 …

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 …

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 …

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 …

CNBC reports: The Trump administration plans to offer billions of dollars in aid to farmers hit by tariffs on their goods, an emergency bailout intended to ease the pain caused by Trump’s escalating trade war in key electoral states, people briefed on the plan told CNBC. The total aid amount is reportedly about $12 billion. A senior administration official told …

USA Today reports: Ahead of a big trade meeting with European officials, President Donald Trump on Tuesday hailed tariffs as both a negotiating tactic and as punishment. The tweet came ahead of his Wednesday meeting with European Commission President Jean-Claude Juncker. The two leaders plan to discuss U.S tariffs on aluminum and steel, and Trump’s threat to extend duties to …

The Washington Post reports: According to the Brookings Institution, the Columbus, Indiana area is the most export-reliant region in the country, with just over half of its economic output linked to foreign purchases. “I’m very worried,” said Tom Linebarger, the chief executive of Cummins, who met with President Trump over dinner at the White House in January in a bid …

CNBC reports: President Donald Trump said the stock market rally since his election victory gives him the opportunity to be more aggressive in his trade war with China and other countries. “This is the time. You know the expression we’re playing with the bank’s money,” he told CNBC’s Joe Kernen in a “Squawk Box” interview aired Friday. The president also …

Bloomberg reports: President Donald Trump is preparing to release a list of an additional $200 billion in Chinese products to be hit with tariffs, according to two people familiar with the matter. The Trump administration on July 6 imposed 25 percent duties on $34 billion in Chinese imports, the first time the president has implemented tariffs directly on Beijing after …

Salt Lake City’s CBS affiliate reports: As new tariffs on internationally imported goods go into effect today, Mitt Romney tweeted his disapproval towards the trade wars these tariffs are causing. “I’m not a fan of trade wars,” Romney tweeted. “I hope the new tariffs going into effect today can soon be removed and replaced by a mutually agreeable trade agreement.” …

The Hill reports: Fox Business host Dagen McDowell said on Friday that conservatives would be “shouting to the high heavens” if former President Obama had implemented massive tariffs the way President Trump has. McDowell, speaking on Fox News’s “Outnumbered,” said there has been a lack of criticism for Trump over escalating trade conflicts between the U.S. and other countries. “If …

Reuters reports: It is not often that the niche world of commodities trading enters the public conversation, but on Friday China’s social media was rooting for a ship carrying soybeans from the United States to beat the deadline before Chinese tariffs kicked in. Tracking the journey of the vessel, Peak Pegasus, as it motored toward the northern Chinese port of …

Politico reports: Mexico on Thursday began imposing its second stage of retaliatory tariffs on dozens of U.S. goods in response to President Donald Trump’s duties on Mexican steel and aluminum exports to the United States. The tariffs complete Mexico’s two-part retaliation on almost $3 billion worth of U.S. products. The Mexican government, which first announced its retaliation list last month, …

Reuters reports: Major U.S. trading partners including the European Union, China and Japan voiced deep concern at the World Trade Organization (WTO) on Wednesday about possible U.S. measures imposing additional duties on imported autos and parts. Japan, which along with Russia had initiated the discussion at the WTO Council on Trade in Goods, warned that such measures could trigger a …

CNBC reports: President Donald Trump is blasting Harley-Davidson again for announcing it’s shifting some operations overseas in the wake of retaliatory EU tariffs against U.S. duties. Trump said on Tuesday his administration is working with other motorcycle companies to move into the U.S. Harley-Davidson said on June 25 that EU tariffs implemented would increase the average cost per motorcycle by …

The Associated Press reports: Canada began imposing tariffs Sunday on $12.6 billion in U.S. goods as retaliation for the Trump administration’s new taxes on steel and aluminum imported to the United States. Some U.S. products, mostly steel and iron, face 25 percent tariffs, the same penalty the United States slapped on imported steel at the end of May. Other U.S. …

Axios reports: President Trump has repeatedly told top White House officials he wants to withdraw the United States from the World Trade Organization, a move that would throw global trade into wild disarray, people involved in the talks tell Axios. What we’re hearing: “He’s [threatened to withdraw] 100 times. It would totally [screw] us as a country,” said a source …

CNBC reports: President Donald Trump said Tuesday that Harley-Davidson will be “taxed like never before” if they move production overseas, and that the U.S. motorcycle company was using increased trade tensions as an excuse to justify planned changes in manufacturing. On Monday, Harley said it was moving some production overseas due to increased costs from the EU’s retaliatory tariffs against …

Business Insider reports: President Donald Trump late Monday went after iconic American motorcycle company Harley-Davidson after the company announced it was moving some production out of the US. Harley announced Monday that due to the European Union’s new tariffs on US motorcycles — which came in retaliation for Trump’s steel and aluminum tariffs — the company was shifting some production …

The Washington Post reports: For as long as Donald Trump has been president, he has been threatening to slap tariffs on foreign carmakers to stop flashy German vehicles from “flooding” American streets. On Friday, he repeated the threat and attached a specific number, tweeting about a 20 percent tariff on all automobile imports from Europe. Car tariffs are shaping up …