tariffs

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Trump Threatens EU With 'Tariffs All the Way'

President-elect says tariffs can be avoided only with 'the large scale purchase of our oil and gas'

(Newser) - President-elect Trump is threatening more tariffs, this time directed at Europe. "I told the European Union that they must make up their tremendous [trade] deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way," Trump wrote...

Consumers Stock Up, Anticipating Trump's Tariffs

Big spending could increase prices, economist points out

(Newser) - In a wave of spending reminiscent of those 2020 days of stocking up before the pandemic lockdown takes effect, some US consumers are spending before they need to in anticipation of President-elect Trump's promised tariffs . Many economists say that the tariffs would bring higher prices for goods to Americans,...

Report: Ontario Might Ban US-Made Alcohol

Province's leader confirms that electricity exports could be cut if Trump brings in tariffs

(Newser) - Canada's most populous province may bar American-made alcohol in addition to restricting electricity exports to Michigan, New York, and Minnesota if President-elect Trump imposes sweeping tariffs on all Canadian products, a senior official said Thursday. The official in Ontario Premier Doug Ford's government said that it's contemplating...

Trump Taunts 'Governor' Justin Trudeau

Calls Canadian PM the 'governor' of the 'Great State of Canada'

(Newser) - Things are getting frosty on the US-Canada border as President-elect Trump and Justin Trudeau continue to duke it out over Trump's threat to slap a 25% tariff on Canadian exports as soon as he gets the keys to the Oval Office. As NBC News reports, the latest salvo came...

After Trump Tariffs Threat, Mexico Makes Huge Drug Bust

Mexico makes what officials say is biggest fentanyl seizure ever there

(Newser) - Mexican soldiers and marines seized over a ton of fentanyl pills in two raids in the north, with officials calling it the biggest catch of the synthetic opioid in the country's history. The raids came after a sharp drop in fentanyl seizures in Mexico earlier this year, and days...

Trump Expands Tariff Threat to a 9-Nation Bloc

The BRIC alliance includes Brazil, Russia, India, and China

(Newser) - President-elect Trump continues to wield his tariff weapon : On Saturday, he threatened 100% tariffs against a bloc of nine nations if they act to undermine the US dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia,...

Trudeau Shows Up on Trump's Home Turf Over Tariffs

Canadian PM makes unannounced stop at Mar-a-Lago for meeting with incoming president

(Newser) - No one's completely sure if Donald Trump's tariffs proposal is a real, fleshed-out plan or merely a "negotiating ploy" with China, Mexico, and Canada to win some trade concessions. Whatever it turns out to be, Canadian Prime Minister seems to be taking the threat seriously, paying...

Report: Canadians Are Looking at Retaliatory Tariffs

Trudeau tells provincial leaders they need to present united front after Trump threat

(Newser) - Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday. The official, speaking to the AP on condition of anonymity, said Canada is preparing for every...

After Trump Threatens Tariffs, Loonie Hits 4-Year-Low

Ontario's premier says he found Trump's remarks 'insulting' and 'unfair'

(Newser) - President-elect Trump's tariff threats made Tuesday a rough day for the loonie. The Canadian dollar dipped below 71 US cents Tuesday morning, falling to its lowest point against the US dollar since 2020, the CBC reports. But the drop was relatively modest, which analysts say suggests investors don't...

Aluminum, Steel Prices May Rise Under Trump's Tariffs
With Trump's Tariff
Threat Comes a Big Unknown
the rundown
Nov 26, 2024 10:50 AM CST

With Trump's Tariff Threat Comes a Big Unknown

Is it a real plan or a bargaining ploy?

(Newser) - President-elect Trump promised to put new tariffs in place on goods from Mexico (25%), Canada (25%), and China (10%) on his first day in office, and financial analysts were assessing the impacts on Tuesday. Coverage:
  • Steel, aluminum: The Wall Street Journal reports that one tangible effect would almost certainly be
...

Trump Lays Out Details of His Tariff Plan

He said he would charge Mexico and Canada 25% on all goods entering the US

(Newser) - President-elect Trump is getting specific about his tariff plans, in what the Wall Street Journal says is "the clearest indication since his election victory that he plans to follow through on [his] tough campaign rhetoric." Trump has long vowed to impose tariffs , and on Monday he posted details...

Walmart CFO: We'll Likely Hike Prices if Trump Brings in Tariffs

And that's not the only company warning it may pass costs of Trump's import plan onto consumers

(Newser) - Walmart had a better-than-expected third quarter, but consumers might not reap the benefits of that for long if President-elect Trump's threatened tariffs on imports come to pass. Trump said during his campaign that he plans on imposing a 10% to 20% tariff on imports in general, with fees as...

Trump: Musk Will Lead Commission on 'Drastic Reforms'

He says he's backing Musk's call for a 'government efficiency commission'

(Newser) - If Donald Trump wins the election, he will have a big job for Elon Musk. In a speech at the Economic Club of New York on Thursday, Trump said Musk will lead a commission that will save "trillions of dollars" in government spending. "I will create a government...

US Carmakers 'Trembling' Over This Low-Cost Chinese EV
This 'Dream' EV Could Prove
a Nightmare for US Carmakers
IN CASE YOU MISSED IT
May 19, 2024 6:01 AM CDT

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
May 14, 2024 8:43 AM CDT

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
Oct 30, 2021 4:05 PM CDT

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...

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