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US Carmakers 'Trembling' Over This Low-Cost Chinese EV
This 'Dream' EV Could Prove
a Nightmare for US Carmakers

This 'Dream' EV Could Prove a Nightmare for US Carmakers

Seemingly well-made Seagull by China's BYD costs a third of what similar US electric vehicles do

(Newser) - A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling. The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but it drives well and is put together with craftsmanship that rivals US electric vehicles that cost three times as...

Biden Quadruples a China Tax. Not Enough, Says Trump
Biden Quadruples a China Tax.
Not Enough, Says Trump
the rundown

Biden Quadruples a China Tax. Not Enough, Says Trump

Election 2024 is now playing out in the form of Chinese tariffs

(Newser) - President Biden is rolling out new tariffs on China Tuesday on electric vehicles and a slew of other products from semiconductors to solar cells and medical products. The move six months before Election Day could have political implications in critical Rust Belt states as Biden and Donald Trump try to...

'Worst Valentine's Day Surprise Ever'

Trade analysis finds that women's underwear is taxed higher than men's

(Newser) - Typically, an economic analysis that highlights a "trade fact of the week" might not sound like the sexiest of subjects. But in this case, the factoid highlighted by Ed Gresser of the Progressive Policy Institute amounts to what he labels the "worst Valentine's Day surprise ever."...

For Biden, 2 Moves on the Inflation Front

He considers rollback of tariffs on China, pressures oil companies

(Newser) - Amid sky-high inflation and a reeling stock market, the Biden administration is looking for remedies, and two are making headlines. However, neither is seen as being able to make a substantive dent in the problems:
  • Tariffs: The White House may roll back some or all of the tariffs imposed on

House Vote to Punish Russia Has Only 8 Nay Votes

Legislation to suspend trade relations now goes to Senate

(Newser) - The House voted overwhelmingly Thursday to suspend normal trade relations with Russia and Belarus, preparing for President Biden to enact higher tariffs on more products and further weaken the Russian economy in response to its military assault on Ukraine. The US has already taken steps to shut off the importation...

Russia to Be Stripped of 'Most Favored Nation' Status

US, EU, G7 to revoke trade status

(Newser) - President Biden will announce Friday that, along with the European Union and the Group of Seven countries, the US will move to revoke "most favored nation" trade status for Russia over its invasion of Ukraine, the AP reports, citing "a source familiar with the matter who spoke on...

US, EU Compromise on Trump Tariffs
US, EU Agree on Trump
Steel Tariffs

US, EU Agree on Trump Steel Tariffs

Tensions among nations had been rising along with costs

(Newser) - US and EU negotiators have reached a broad agreement to dial back tensions over steel and aluminum tariffs imposed under former President Trump. Under the deal, NPR reports, US tariffs will stay in place, but an unspecified amount of steel and aluminum from the European Union will be allowed into...

Trump-Era Hangover Set to Get Worse for Whiskey Makers

The EU's tariff rate is scheduled to double this summer

(Newser) - A hangover from Trump-era tariff disputes could become even more painful for American whiskey distillers unless their entanglement in a trans-Atlantic trade fight is resolved soon, per the AP . Bourbon, Tennessee whiskey, and rye whiskey were left out of recent breakthroughs to start rebuilding US trade relations with the European...

Feds Remove Wakanda From List of US Free Trade Partners

'Guess we're in a trade war with them too'

(Newser) - Bad news for importers of vibranium: Wakanda, the fictional African country from Black Panther, is no longer listed as a free trade agreement partner of the US. The US Department of Agriculture removed Wakanda from its Agricultural Tariff Tracker Wednesday after a researcher discovered that there were hundreds of entries...

US, China Near 'BIG DEAL'
US, China Near 'BIG DEAL'

US, China Near 'BIG DEAL'

President Trump needs to give final approval

(Newser) - The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war, the AP reports. "We're close to a deal,'' said Myron Brilliant, the US Chamber of Commerce's...

US Threatens 100% Tariffs on French Imports

Move would be retaliation for tech tax

(Newser) - The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports—including Roquefort cheese, handbags, lipstick, and sparkling wine—in retaliation for France’s tax on American tech giants like Google, Amazon, and Facebook. The Office of the US Trade Representative charged Monday that France’...

Trump Slaps Tariffs on 2 More Countries

Argentina and Brazil hit with steel and aluminum penalties

(Newser) - President Trump leaves for a NATO summit in London on Monday, but first he's making headlines in regard to South America. In an early tweet , the president announced he is restoring tariffs on aluminum and steel shipped from Argentina and Brazil, reports the Wall Street Journal . Trump accused both...

Trump Plans to Slap Tariffs on $7.5B in European Goods

Tariffs will hit EU cheese, wine, aircraft

(Newser) - The Trump administration plans to impose tariffs on $7.5 billion worth of European imports—from gouda cheese to single-malt whiskey to large aircraft—beginning Oct. 18 to retaliate against illegal European Union subsidies for aviation giant Airbus. The latest escalation in the administration’s tariffs will open a new...

US-China Trade War May Mean Higher Prices

Tariffs of 10% and 5% apply to various goods imported from China

(Newser) - The US and China on Sunday put in place their latest tariff increases on each other's goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season, the AP reports. President Donald Trump said US-China trade talks were still...

Lobster Exports to China Have Fallen Off a Cliff

Maine's pain is Canada's gain

(Newser) - US lobster exports to China have fallen off a cliff this year as new retaliatory tariffs shift the seafood business farther north. China, a huge and growing customer for lobster, placed heavy tariffs on US lobsters—and many other food products—in July 2018 amid rising trade hostilities between Beijing...

Trump: I Can Legally Enforce My China Ban

The president threatens to wield the International Emergency Economic Powers Act

(Newser) - President Trump is threatening to use the emergency authority granted by a powerful, but obscure federal law to make good on his tweeted "order" to US businesses to cut ties in China amid a spiraling trade war between the two nations, the AP reports. China's announcement Friday that...

Trump: Tariff Move Made for the 'Christmas Season'

Slew of tariffs will now kick in Dec. 15 instead of Sept. 1

(Newser) - The Trump administration on Tuesday announced it is punting on some of the tariffs it has announced against China. "We're doing this for the Christmas season," President Trump told reporters, a reference to fears that the import taxes could depress holiday sales, reports Reuters . The AP reports...

Trump Makes New Threat Amid Slow China Talks

The US will slap a tariff on $300B in Chinese goods, Trump says

(Newser) - President Trump says the US will apply a new tariff of 10% on about $300 billion worth of products from China on Sept. 1, the AP reports. Trump tweeted Thursday amid slow-moving talks with China that negotiations will continue. But he blamed China for not following through on stopping the...

China's Growth Slumps Amid Trade War With US

It's now at its lowest level in at least 26 years

(Newser) - Chin a's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington . The world's second-largest economy grew 6.2% over a year ago, down from the...

China Will Make Big Demand of Trump
China Will Make Big
Demand of Trump

China Will Make Big Demand of Trump

Xi Jinping reportedly wants tariffs nixed and Huawei ban lifted to jump-start trade talks

(Newser) - There's a sliver of hope trade talks may resume between the US and China and that a trade war could soon be over, but China has some demands first. The Wall Street Journal reports Robert Lighthizer, the chief US trade representative, is set to meet with his Chinese equivalent...

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