Tariffs

Chinese port volume drops by 9.7% as Trump tariffs hammer exports | The Post Millennial– thepostmillennial.com

pgnewser April 15, 2025 0

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Over the course of April 7-13, cargo handled by China has dropped by 9.7 percent.

Cargo going through ports in China has dropped by 9.7 percent in the second week of April, indicating that tariffs implemented by the Trump administration have been hammering the country’s exports to the US.

Over the course of April 7-13, cargo traffic dropped by 9.7 percent to 244 million tons, according to the Wall Street Journal. The week prior, when President Donald Trump implemented his reciprocal tariffs, there was only a drop of 0.88 percent.

Container throughput dropped by 6.1 percent, the Journal reported, reversing an increase of 1.9 percent the week prior. The outlet reports that there has been a steady increase in port volumes since January 2025, and the last couple weeks have seen that reverse.

Fed Chair Change Imminent as Trump Tariffs Create Economic Strain – BeInCrypto

pgnewser April 15, 2025 0

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The Trump administration is gearing up for significant economic shifts, with its proposed tariffs said to be setting the stage for a potential overhaul of the Federal Reserve’s (Fed) leadership.

Like Gary Gensler’s ouster at the SEC (Securities and Exchange Commission), reports indicate that Fed chair Jerome Powell may face a similar fate with discussions starting long before his term ends.

Jerome Powell’s Exit Planned As Trump Tariffs Spell Economic Hardship

Treasury Secretary Scott Bessent announced the Trump administration’s plans to interview candidates to replace Fed Chair Jerome Powell.

China Halts Critical Rare Earth Exports as Trade War Intensifies – The New York Times

pgnewser April 15, 2025 0

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China has suspended exports of a wide range of critical minerals and magnets, threatening to choke off supplies of components central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system. Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.

The official crackdown is part of China’s retaliation for President Trump’s sharp increase in tariffs that started on April 2.

Why China Might Have An Upper Hand In Trade War With US– www.ndtv.com

pgnewser April 15, 2025 0

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The United States and China– two of the world’s largest economies– are locked in a dangerous trade stand-off that may have no winners. As the US tries to arm-twist China — with mounting tariffs– into seeking a deal from his administration, it is becoming increasingly clear that Beijing may have more leverage than President Donald Trump and his aides think.

The United States remains an almost irreplaceable market for China for its manufactured goods. However, experts caution Washington not to underestimate Beijing’s capacity to resist the Trump administration’s coercive tactics. The combination of Beijing’s centralised political control, diversified export markets and stronghold over some strategically vital materials, including rare earth metals and magnets, gives China plenty of room to negotiate with the US.

The complexity of the United States’ dependence on China was evident over the weekend when the Trump administration exempted smartphones, laptops and TVs from its new tariffs — goods that the US primarily imports from China.

‘Good chance’ of UK-US trade deal with Trump administration, says JD Vance – UK politics live | Politics– www.theguardian.com

pgnewser April 15, 2025 0

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In an interview with online outlet Unherd, the US vice president told Sohrab Ahmari:

We’re certainly working very hard with Keir Starmer’s government. The president really loves the UK. He loved the queen. He admires and loves the king. It is a very important relationship. And he’s a businessman and has a number of important business relationships in [the UK].

But I think it’s much deeper than that. There’s a real cultural affinity. And of course, fundamentally America is an Anglo country. I think there’s a good chance that, yes, we’ll come to a great agreement that’s in the best interest of both countries.

Trump is failing to provide coherent leadership on tariffs– www.washingtonexaminer.com

pgnewser April 15, 2025 0

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If you are confused about the government‘s tariff policy, don’t worry. You are not alone. Confusion is not your fault. Since taking office for the second time, President Donald Trump has flipped back and forth on tariffs while offering different explanations for current policy and different predictions for future policy.

There are many components to successful leadership, but an important one is communicating to constituents what your policies are, why they are needed, and how they will work. Trump has not done this for his tariffs. As a result, the economy is suffering, and voters are beginning to blame the president for their pain. Until Trump is able to deliver stability or clarity on this matter, the economic pain will continue for everyone, and the political pain for Trump and the Republican Party will worsen.

On his first day in office, Trump announced a 25% tariff on all goods from Canada and Mexico and a 10% tariff on all goods from China starting Feb. 1. On Feb. 1, Trump reannounced the tariffs but pushed the start date to Feb. 4. Then, on Feb. 3, he announced a 30-day delay for the Canada and Mexico tariffs but started the China tariffs.

Trump Confirms Tariff Exemption for Electronics Is Temporary: ‘NOBODY Getting Off the Hook’– slaynews.com

pgnewser April 15, 2025 0

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President Donald Trump has clarified that electronics are not exempt from his new tariffs, warning that “NOBODY is getting ‘off the hook.’”

The warning comes as Trump redoubled his promise to end “unfair” trade policies once and for all.

The president confirmed that America’s trading partners are not “off the hook.”

The clarification came after his administration appeared to back away from targeting products like smartphones imported largely from China.

Trump’s reversal caused the stock market to rally Monday as confidence in tech stocks rebounded.

Companies like Apple are largely reliant on supply chains based in Asia, especially China.

Foreign travelers visiting the US fell 12% since last March– www.washingtonexaminer.com

pgnewser April 14, 2025 0

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International travel to the United States fell 12% in March compared to rates from March 2024, according to the National Travel and Tourism Office.

From January to March, 7.1 million visitors entered the U.S. from abroad, a 3.3% decline from the first three months of 2024. This marks the sharpest decrease in travel since the COVID-19 pandemic.

The U.S. tourism industry expected the year to be positive regarding travelers from abroad visiting the U.S. In 2024, the number of international visitors to the U.S. rose, with some forecasts predicting 2025 would reach pre-COVID levels.

Tourism Economics, a travel forecasting company, originally anticipated the U.S. would have nearly 9% more international arrivals this year but revised its annual outlook last week to a 9.4% decline.

But travel from overseas has nosedived for tourists upset by President Donald Trump’s tariffs and reports of dozens of tourists being arrested at the border.

JUST IN: Tech Company Commits To $500 Billion Investment In U.S. Infrastructure– wltreport.com

pgnewser April 14, 2025 0

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Nvidia on Monday announced it would design and build factories to produce NVIDIA AI supercomputers entirely in the United States.

“Together with leading manufacturing partners, the company has commissioned more than a million square feet of manufacturing space to build and test NVIDIA Blackwell chips in Arizona and AI supercomputers in Texas,” Nvidia announced.

Yahoo Finance reports:

As part of this $500 billion commitment, Nvidia said it is building two new supercomputer manufacturing plants in Texas in partnership with contract manufacturers Foxconn (2354.TW) and Wistron (3231.TW).

Nvidia expects to mass-produce supercomputers at those sites in 12 to 15 months. The chipmaker said its latest Blackwell AI chips are already in production at TSMC’s (TSM) plant in Phoenix.

WATCH: UAW Boss Stuns MSNBC Hosts, Praises Trump’s Tariffs: ‘Bring Work Back’– trendingpoliticsnews.com

pgnewser April 14, 2025 0

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A top boss in America’s largest auto union praised President Donald Trump for sticking to his guns amid a high-stakes international tariff war that he promises will bring millions of manufacturing jobs back to the U.S.

Despite endorsing former Vice President Kamala Harris, the United Auto Workers have come solidly around to Trump since he began instituting sharp tariffs on other countries, which for decades have benefited from U.S. companies shifting their manufacturing and production lines overseas. The change “will bring work back” to his union members, UAW president Shawn Fain told a stunned MSNBC host on Monday.

“Now, we’ve been very clear,” Fain said. “We do believe, and we know, when it comes to auto, when it comes to heavy truck, and agricultural implementation, we know that tariffs will influence these companies to do the right thing and reinvest in this country and reinvest in factories in this country.”

The CEO of one of Thailand’s leading manufacturers says his customers are rushing to stock up during Trump’s tariff pause– fortune.com

pgnewser April 14, 2025 0

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Thailand, along with the rest of Southeast Asia, got some temporary relief when the U.S. President Donald Trump chose to delay his “Liberation Day” tariffs by 90 days. Now, the country’s U.S.-bound exports only have a 10% tariff, as opposed to the 36% threatened by Trump.

Asian markets have gone on a wild ride since Trump first unveiled his reciprocal tariffs on April 2, falling and rising according to the president’s statements. Thailand’s benchmark SET index fell by 9% between April 2 and April 9, only to rally after Trump announced his tariff pause. Still, the index has yet to recover from the “Liberation Day” hit. 

“Reciprocal tariffs, we thought, were excessively high,” said Victor Cheng, the CEO of Delta Electronics Thailand, last week before Trump announced his tariff pause. 

U.S. actions were causing “anxiety and great concern,” Cheng said, but noted that customers had yet to change or cancel any orders due to the tariffs and were instead adopting a wait-and-see attitude. Cheng added later, after Trump paused his tariffs, that customers are using the 90-day pause on reciprocal tariffs to “stock up”.

The CEO also explained why his U.S. customers, and not his company, “will have to bear the extra tariff on top of the original selling price.” He points out that most of Delta Electronics Thailand’s products are classed as “free on board”, which means responsibility passes from the seller—his company—to the buyer—the U.S. customer.

China’s Xi Jinping Says ‘No Winners’ in Tariff War– time.com

pgnewser April 14, 2025 0

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HANOI, Vietnam — China’s leader Xi Jinping started a week of diplomacy in Southeast Asia with a visit to Vietnam on Monday, signaling China’s commitment to global trade, just after U.S. President Donald Trump upended the global economy with his latest tariffs moves.

Although Trump has paused some tariffs, China was the outlier, as he has kept in place 145% tariffs on the world’s second-largest economy.

Xi’s visit this week lets China show Southeast Asia it is a “responsible superpower in the way that contrasts with the way the U.S. under President Donald Trump presents to the whole world,” said Nguyen Khac Giang, a visiting fellow at Singapore’s ISEAS–Yusof Ishak Institute.

China also can work to shore up its alliances and find solutions for the high trade barrier that the U.S. has on Chinese exports.

“There are no winners in a trade war, or a tariff war,” Xi wrote in an editorial jointly published in Vietnamese and Chinese official media. “Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment.”

Republicans are Worried About How Tariffs Will Affect Future Elections– townhall.com

pgnewser April 14, 2025 0

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Some Republican lawmakers are deeply concerned about President Donald Trump’s tariff gambit for more reasons than one. Many have argued that using tariffs will only raise prices for American consumers.

However, others are worried about something else: Maintaining political power.

The Hill reported that GOP lawmakers have expressed concerns that the trade wars’ impact might negatively impact their chances of retaining control over both chambers of Congress in the 2026 midterm elections.

Republican lawmakers say there’s a good chance that President Trump’s trade war will boomerang on Republicans politically in 2026, as rising prices and shrinking growth could offset other accomplishments by the GOP.

Republican senators are pointing to the 1932 and 1982 elections as historical examples of when trade wars and resulting price inflation hurt their party at the ballot box, and they are worried that history could repeat itself.

Many Republican lawmakers view tariffs as a tax hike on American consumers, and some note that the last two times Congress enacted tax hikes on the scale of Trump’s recent tariffs, the president’s party suffered a wipeout in the next election.

Trump’s Tariffs Deliver Biggest Shock to Global Markets Since Pandemic– time.com

pgnewser April 4, 2025 0

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HONG KONG — Shares slid further in Europe and Asia on Friday as markets shuddered while investors counted the potential costs of U.S. President Donald Trump’s latest set of tariffs.

The future for the S&P 500 lost 0.8% while that for the Dow Jones Industrial Average shed 1%.

Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies has fallen. Even gold, a traditional safe haven that recently hit record highs, pulled lower after Trump announced his “Liberation Day” set of tariffs, which economists say carries the risk of a potentially toxic mix of weakening economic growth and higher inflation.

Trump’s tariffs will deliver a big blow to climate tech– www.technologyreview.com

pgnewser April 4, 2025 0

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The growing policy uncertainty and weakening economic conditions alone may already be causing some of this to occur.

Since Trump took office, companies have canceled, delayed, or scaled back at least nine US “clean energy supply chain” developments or operations, according to the Big Green Machine, a database maintained by Jay Turner, a professor of environmental studies at Wellesley College, and student researchers there. The projects that have been affected represent some $8 billion in public and private investments, and more than 9,000 jobs.

They include KORE Power’s planned battery facility in Arizona, which the company halted; Envision Automotive Energy Supply’s paused expansion in Florence County, South Carolina; and Akasol’s closure of two plants in Michigan.

VW also scaled back production at its recently expanded EV factory in Chattanooga, Tennessee, amid slower-than-expected growth in sales and, perhaps, the expectation that the Trump administration will strive to roll back consumer tax credits for vehicle purchases.

Trump live: ‘Liberation Day’ tariffs wipe $3.1 trillion from Wall Street as analysts warn of global recession– www.independent.co.uk

pgnewser April 4, 2025 0

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Trump’s sweeping tariffs sent shockwaves through Wall Street, wiping about $3.1 trillion in market value in its largest one-day decline since the Covid pandemic.

The Dow Jones Industrial Average dropped 4 percent. The S&P 500 fell 4.8 percent.

And the tech-focused Nasdaq was down 6 percent — fuelled by declines from Apple, Nvidia and Amazon.