Trump Tariffs

U.S. automakers blast Trump’s UK trade deal– japantoday.com

pgnewser May 9, 2025 0

Source Link
Excerpt:

The Trump administration’s latest trade deal with Britain unfairly penalizes U.S. automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday.

In a sharply-worded statement, the American Automotive Policy Council (AAPC) said the U.S.-UK trade deal “hurts American automakers, suppliers, and auto workers,” according to the group’s president Matt Blunt.

The deal unveiled Thursday between U.S. President Donald Trump and British Prime Minister Keir Starmer lowers the tariff on British vehicles to 10 percent from 27.5 percent on the first 100,000 cars shipped from Britain to the United States.

China Sales To US Drop Amid Donald Trump’s Tariffs War– www.ndtv.com

pgnewser May 9, 2025 0

Source Link
Excerpt:

China said Friday sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival.

Trade between the world’s two largest economies has nearly skidded to a halt since US President Donald Trump imposed various rounds of levies on China that began as retaliation for Beijing’s alleged role in a devastating fentanyl crisis.

Tariffs on many Chinese products now reach as high as 145 percent — with cumulative duties on some goods soaring to a staggering 245 percent.

Beijing has responded with 125 percent tariffs on imports of US goods, along with other measures targeting American firms.

Trump administration may half 145% China tariff to 50% next week: Report– timesofindia.indiatimes.com

pgnewser May 9, 2025 0

Source Link
Excerpt:

The Trump administration is considering cutting the steep 145% tariff on Chinese imports by more than half, possibly as early as next week, as US and Chinese officials gear up for high-level trade talks in Switzerland,

The New York Post

reported, citing sources close to the negotiations.US officials are reportedly weighing a reduction of the levy to somewhere between 50% and 54%, a move aimed at easing tensions as trade negotiations unfold.

Dow drops 400 points as investors await trade deals, Fed decision: Live updates – CNBC– news.google.com

pgnewser May 6, 2025 0

Source Link
Excerpt:

  1. Dow drops 400 points as investors await trade deals, Fed decision: Live updates  CNBC
  2. Stock Market Today: Dow, S&P 500 Futures Dip After Wall Street Breaks Winning Streak — Live Updates  WSJ
  3. World shares mostly slip after Wall St breaks its winning streak  AP News
  4. Wall Street wobbles as markets navigate through tariff uncertainty; Fed in focus  Reuters
  5. Stock market today: Dow, S&P 500, Nasdaq slide ahead of Fed decision as tariff fears reemerge  Yahoo Finance

US trade deficit surges to record high in March– www.channelnewsasia.com

pgnewser May 6, 2025 0

Source Link
Excerpt:

WASHINGTON: The US trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years.

The trade gap jumped 14 per cent to a record US$140.5 billion from a revised US$123.2 billion in February, the Commerce Department’s Bureau of Economic Analysis (BEA) said on Tuesday (May 6).

Economists polled by Reuters had forecast the trade deficit rising to US$137.0 billion from the previously reported US$122.7 billion in February.

President Donald Trump’s sweeping tariffs, including raising duties on Chinese imports to a staggering 145 per cent, fueled a rush by businesses to bring in merchandise to avoid higher costs.

Trump to Meet with Prime Minister of Canada › American Greatness– amgreatness.com

pgnewser May 6, 2025 0

Source Link
Excerpt:

Good Tuesday morning.

Here is what’s on President Trump’s agenda today:

11:30am THE PRESIDENT greets the Prime Minister of Canada

11:45am: THE PRESIDENT participates in a Bilateral Meeting with the Prime Minister of Canada

12:15pm: THE PRESIDENT participates in a Bilateral Lunch with the Prime Minister of Canada

3:30pm: THE PRESIDENT participates in a FIFA Task Force Meeting

5pm: THE PRESIDENT participates in a Swearing-In Ceremony for the Assistant to the President, Senior Advisor and Special Envoy

Mike Pence Accuses Trump of Hurting Consumers, Cheap Goods That Are a ‘Big Part’ of the American Dream– conservativeroof.com

pgnewser May 6, 2025 0

Source Link
Excerpt:

Former Vice President Mike Pence said Monday on CNN’s “The Source” that President Donald Trump’s tariffs hurt consumers who want cheap goods.

Pence said, “I do have concerns, that with the president’s call for broad based tariffs against friend and foe alike that ultimately the administration is advancing policies that are not targeted at countries that have been abusing our trade relationship, but rather are essentially new industrial policy that will result in inflation, that will harm consumers and ultimately harm the American economy.”

Host Kaitlan Collins said, “One argument he’s been making lately is that maybe children will have to make do with fewer toys, fewer dolls.”

She asked, “Do you think the American people buy that argument?”

Canada election results live: Carney says trade deal with Trump will happen ‘on our terms’ as Liberals fall short of majority government– www.independent.co.uk

pgnewser May 5, 2025 0

Source Link
Excerpt:

The U.S. slaps even more tariffs on Southeast Asia, as solar panels get anti-dumping duties that go as high as 3,521%– fortune.com

pgnewser April 22, 2025 0

Source Link
Excerpt:

 

If you think a 25% tariff is bad, what about a tariff that goes past 3,500%?

On Monday, the U.S. Department of Commerce slapped high tariffs on solar panels and their related products coming from four Southeast Asia countries, Malaysia, Vietnam, Thailand, and Cambodia, accusing manufacturers there of dumping products on the U.S. market. The announcement ends a yearlong trade probe initiated under the Biden administration.

Tariff levels varied wildly between different countries and manufacturers. Solar cells made in Malaysia by Korean company Hanwha only got a tariff of 14.64%, the lowest imposed.

In contrast, four manufacturers in Cambodia—Hounen Solar, Jinktek Photovoltaic, ISC Cambodia and Solar Long PV Tech—got tariffs of 3521.14%. The Southeast Asian country stopped cooperating with the U.S. probe, leading to such high penalties.

IMF says Trump’s tariffs will be a drag on global economic growth – The Washington Post– news.google.com

pgnewser April 22, 2025 0

Source Link
Excerpt:

  1. IMF says Trump’s tariffs will be a drag on global economic growth  The Washington Post
  2. IMF slashes 2025 U.S. growth forecast to 1.8%, citing trade tensions  CNBC
  3. IMF slashes world growth forecasts due to trade war  politico.eu
  4. US markets live: US growth forecast to be hit hardest from tariffs, IMF says, as  BBC
  5. Alert: International Monetary Fund says economic outlooks for the US and world have worsened significantly due to trade war  San Francisco Chronicle

China warns against side deals with US, vows retaliation if interests are compromised– www.arabianbusiness.com

pgnewser April 21, 2025 0

Source Link
Excerpt:

China on Monday issued a direct warning to countries considering trade deals with the US that could disadvantage Beijing.

The warning came in the aftermath of reports that the Trump administration in the US may offer tariff exemptions to other nations in return for limiting their trade with China.
President Trump this month paused major tariff increases on other countries for 90 days, while hiking duties further on goods from China to 145 percent.

“China firmly opposes any party reaching a deal at the expense of China’s interests. If this happens, China will not accept it and will resolutely take reciprocal countermeasures,” the Chinese Ministry of Commerce said, CNBC reported.