Trump says reciprocal tariffs will target all countries– www.channelnewsasia.com Source Link Excerpt:
ABOARD AIR FORCE ONE: US President Donald Trump said on Sunday (Mar 30) reciprocal tariffs he is set to announce this week will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.
Trump has promised to unveil a massive tariff plan on Wednesday, which he has dubbed “Liberation Day”. He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.
“You’d start with all countries,” he told reporters aboard Air Force One. “Essentially all of the countries that we’re talking about.”
White House economics adviser Kevin Hassett recently told Fox Business that the administration’s tariffs focus would be on 10 to 15 countries with the worst trade imbalances, though he did not list them.
Trump Fuels Blue Wave By Planning To Hit Americans With Biggest Peacetime Tax Increase In History– www.politicususa.com Source Link Excerpt:
Trump trade adviser Peter Navarro said, according to an X post from Jeff Stein of The Washington Post that Trump is planning on imposing $600 billion worth of tariffs per year for ten years:
White House aide Peter Navarro today: Trump’s tariffs will raise $600 billion per year, or $6 trillion over a 10 year period Seems to reflect our reporting that Trump wants to go absolutely enormous on the tariffs, regardless of short-term economic consequences
Video of Navarro:
To put this into context, Trump’s proposed tariffs would be 2.2% of GDP.
Here is a chart from The Tax Foundation of the largest tax increases as a percentage of GDP in US history:
Trump’s Tariffs Leave Automakers With Tough, Expensive Choices– www.nytimes.com Source Link Excerpt:
Automakers can respond to President Trump’s new 25 percent tariffs on imported cars and parts in several ways. But all of them cost money and will lead to higher car prices, analysts say.
Manufacturers can try to move production from countries like Mexico to the United States. They can try to increase the number of cars they already make here. They can stop selling imported models, especially ones that are less profitable.
But whatever carmakers decide, car buyers can expect to pay more for new and used vehicles. Estimates vary widely and depend on the model, but the increase could range from around $3,000 for a car made in the United States to well over $10,000 for imported models.
Those figures do not take into account additional tariffs that Mr. Trump said he would announce next week to punish countries that impose tariffs on U.S. goods. He has also said he would increase tariffs further if trading partners like Canada and the European Union raise tariffs in response to his auto tariffs, leading to an escalating tit-for-tat trade war.
“It’s going to be disruptive and expensive for American consumers for several years,” said Michael Cusumano, professor of management at the MIT Sloan School of Management.
Trump’s Auto Tariffs Just Got a Huge Endorsement – PJ Media– pjmedia.com Source Link Excerpt:
United Auto Workers (UAW) President Shawn Fain, who backed Kamala Harris in last year’s election, just delivered the most significant endorsement yet of President Donald Trump’s tariffs on foreign-made automobiles. Defying the left’s narrative, Fain called the tariffs a necessary tool to bring manufacturing jobs back to the United States.
Speaking on CBS’s “Face the Nation,” Fain agreed with Trump trade adviser Peter Navarro’s assessment that American auto plants are operating at only 60% capacity, which leaves plenty of room to ramp up production domestically.
“He’s spot on,” Fain said, citing the example of Stellantis, which recently laid off 2,000 workers in Warren, Mich., after shifting Ram truck production to Mexico. “They could shift that work back in very short order and be producing Ram trucks right back there and put those people back to work.”
China Deserves the Trump Tariffs– www.dailysignal.com Source Link Excerpt:
This January, when President Joe Biden was serving his last weeks in office and turning over the presidency to Donald Trump, the United States ran a $31.7 billion trade deficit with China.
That was the largest trade deficit the United States ran that month with any nation—and it continued a long-standing pattern.
In 2024, according to data published by the Census Bureau, America’s annual trade deficit with China was $295.402 billion. That was not only the largest trade deficit the United States ran with any country, it was also larger than the trade deficit the United States ran with the entire European Union ($235.571 billion).
In 2023, the United States ran a $279.107 billion trade deficit with China. In 2022, it was $382.133 billion; in 2021, it was $352.806 billion; in 2020, it was $310.263 billion; and in 2019, it was $344.312 billion.
Number of injunctions halting Trump policies trounces predecessors by double – Fox News Source Link Excerpt:
Nationwide injunctions ordered against the first Trump administration account for more than half of the total injunctions ordered against the federal government since 1963, data show.
Nationwide injunctions are court orders that prevent the federal government from implementing a policy or law that has a cascading effect impacting the entire country, not just the parties involved in the court case.
Trump’s first administration faced 64 injunctions out of the total 127 nationwide injunctions issued since 1963. There were 32 injunctions issued against the Bush, Obama and Biden administrations collectively since 2001, meaning the first Trump administration was on the receiving end of double the amount of nationwide injunctions than his two predecessors and successor combined, according to the April 2024 edition of the Harvard Law Review.
Trump’s Energy Secretary Offers Africa Freedom From Biden’s Climate Imperialism– americanactionnews.com Source Link Excerpt:
U.S. Energy Secretary Chris Wright has signaled a change that could mean the difference between life and death for millions in Africa. Speaking at the “Powering Africa Summit” in Washington, D.C., Wright told leaders of a continent of 1.5 billion people that the Trump administration “has no desire to tell you what to do with your energy system.” This is a departure from the Biden regime, which was aligned with much of the Western climate juggernaut imposing Green New Dealism on developing countries that couldn’t afford it and stood to suffer by it.
“It’s a paternalistic post-colonial attitude that I just can’t stand,” Wright said of the climate evangelism that sought to force others to abandon fossil fuels and adopt largely useless technologies like solar and wind energy.