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Keyword: tariff

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  • Senate takes symbolic shot at Trump tariffs

    07/12/2018 12:17:43 AM PDT · by granada · 24 replies
    the Hill ^ | 11/07/18 | JORDAIN CARNEY
    The Senate on Wednesday took a symbolic shot at President Trump’s trade policy amid anxiety on Capitol Hill over his tariff strategy. Senators voted 88-11 to instruct lawmakers hashing out a deal on a government funding bill to include language “providing a role for Congress” on tariffs implemented for national security reasons, known as Section 232 of the trade laws. The vote is nonbinding, meaning lawmakers don’t have to add trade language into the funding bill. But the vote margin, with more senators supporting it than the amount needed to override a veto, underscores the depth of concern on Capitol...
  • 'We are the casualty:' US pig farmers brace for second round of pork tariffs from China, Mexico

    07/04/2018 11:23:56 AM PDT · by Poison Pill · 75 replies
    CNBC ^ | 7/4/2018 | Jeff Daniels
    U.S. pork producers are about to be bitten by a second batch of hefty retaliatory tariffs from China and Mexico — and that has some large producers predicting they could lose big money and be forced to invest overseas. Executives say the pork industry has been expanding in recent years, in part on the expectation of export opportunities that would continue to support growth. However, the threat of a trade war is adding uncertainty and driving fear. "We put a halt on all investment, not just because we will be losing money, but because we don't know if growing in...
  • Another US motorcycle company considering moving production overseas

    06/30/2018 2:44:34 PM PDT · by DoodleDawg · 45 replies
    The Hill ^ | 6/30/18 | Ma Greenwood
    Minnesota-based Polaris acknowledged on Friday that it is considering moving some production of its Indian Motorcycles overseas amid concerns over new tariffs from Europe. A spokeswoman for the company told The Associated Press that it could move some of its production to Poland from Iowa, but noted that "nothing is definitive." "We're looking at a range of mitigation plans," the spokeswoman, Jess Rogers, told the AP. Polaris did not immediately respond to The Hill's request for comment.
  • Herbert Hoover and the largest tax increase in American History

    06/30/2018 10:06:38 AM PDT · by ProgressingAmerica · 27 replies
    I like how the constant harping and carping about tariffs these days gets invoked together with fearmongering about Smoot Hawley and the Great Depression. What is missing? The Revenue Act of 1932. After the 1929 crash there was a small tax cut, but this was overshadowed by Smoot Hawley just months later. In the middle of bad economic times, you simply don't raise taxes, and yes, a tariff is a tax. But let's get to the meat of the numbers, shall we? The Revenue Acts of 1918 and 1921 had a top tax rate of 73%. The Revenue Act of...
  • Why a Flat Tariff on All U.S. Imports Would Work

    06/24/2018 4:45:49 AM PDT · by central_va · 67 replies
    activist post ^ | 2/27/2011 | ian fletcher
    A flat tariff would trigger the relocation back to the U.S. of the right industries. For example, a 30% tariff would not cause the relocation of the apparel industry back to the U.S. from abroad. The difference between domestic and foreign labor costs is simply too large for a 30% premium to tip the balance in America’s favor in an industry based on semi-skilled labor. But a 30% tariff quite likely would cause the relocation of high-tech manufacturing like semiconductors. This is key, as these industries are precisely the ones we should want to relocate. These capital-intensive, knowledge-intensive industries support...
  • China responds with new 25% tariffs on American goods

    06/15/2018 11:56:51 AM PDT · by Lurch Addams · 38 replies
    China will impose an additional 25 percent tariff on 659 U.S. goods worth $50 billion, the official Xinhua news agency reported, citing the Tariff Commission of the State Council. Tariffs on $34 billion of U.S. goods including agricultural products, autos and aquatic goods will take effect from July 6, Xinhua reported early on Saturday, citing the commission.
  • Trump's Tariffs Worry A Small Steel City In Pennsylvania

    06/10/2018 1:05:46 PM PDT · by ATOMIC_PUNK · 24 replies
    https://www.npr.org/ ^ | ASMA KHALID | June 8, 20185:00 AM ET
    Dan Moore, a 58-year-old steel mill worker, gives the president an A+ on everything from tax cuts to foreign policy, but he is not so sure about tariffs. "We need tariffs, but when it starts to impact the company where you work ... you're thinking, well wait a minute, time out!" he said. Moore is worried the tariffs might cost him his job. The mill where he works, NLMK Pennsylvania, in the town of Farrell, not far from the border with Ohio, employs 750 workers and is a subsidiary of Novolipetsk Steel, or NLMK, Russia's top steelmaker. But even though...
  • Trump's tariff on Canadian newsprint is killing US newspapers, Republicans warn

    06/08/2018 9:17:48 AM PDT · by DFG · 103 replies
    Washington Examiner ^ | 06/08/2018 | Pete Kasperowicz
    A dozen House lawmakers have introduced legislation to remove President Trump's tariffs on Canadian newsprint so a study can be done on how much those tariffs are crushing local newspapers around the country. The bill, introduced by Rep. Kristi Noem, R-S.D., is a response to the 22 percent tariff that the Trump administration has imposed on some Canadian newsprint since the beginning of this year. Noem said that tariff has led to rising costs for local newspapers, and are a threat to their survival. "In recent years, new tariffs on Canadian newsprint have increased paper prices by 20 to 30...
  • Canada announces retaliatory tariffs

    05/31/2018 11:00:29 AM PDT · by DCBryan1 · 143 replies
    CNBC ^ | 31 MAY 18 | Kevin Breuninger | @KevinWilliamB
    Canada will retaliate against new U.S. tariffs by imposing its own trade barriers on U.S. steel, aluminum and other products, Canadian Foreign Minister Chrystia Freeland said Thursday. This story is developing. Please check back for updates.
  • White House to impose 25% tariff on $50bn worth of Chinese goods

    05/30/2018 4:31:18 AM PDT · by TigerLikesRooster · 34 replies
    The Guardian ^ | 2018-05-29
    White House to impose 25% tariff on $50bn worth of Chinese goods Aggressive step in an effort to reduce $337bn US trade deficit Move comes at a sensitive time in US-China relations The White House has taken aggressive new steps in its effort to reduce a $337bn trade deficit with China, announcing that it will impose a 25% tariff on $50bn of Chinese goods containing “industrially significant technology”. “From now on, we expect trading relationships to be fair and to be reciprocal,” Donald Trump said in statement. The threat of new tariffs comes despite an apparent US decision, enunciated by...
  • Supreme Court hears case on online sales tax

    04/16/2018 6:52:39 AM PDT · by Oldeconomybuyer · 125 replies
    CBS "News" ^ | April 16, 2018
    Sales Tax: $0. Online shoppers have gotten used to seeing that line on checkout screens before they click "purchase." But a case before the Supreme Court could change that. At issue is a rule stemming from two, decades-old Supreme Court cases: If a business is shipping to a state where it doesn't have an office, warehouse or other physical presence, it doesn't have to collect the state's sales tax. That means large retailers such as Apple, Macy's, Target and Walmart, which have brick-and-mortar stores nationwide, generally collect sales tax from customers who buy from them online. But other online sellers,...
  • My Proposal and Thoughts on Import Duties and Reindustrialization [from late 2016, reposted]

    04/05/2018 10:06:30 AM PDT · by Brian Griffin · 10 replies
    Brian Griffin
    I believe we should abandon (officially denounce) trade treaties and go to a generally duty/barter-based system which would be updated from time to time by the Congress. Congress should try to steer global trade into a generally financially balanced system with some exemptions for consumer friendly producers. My proposal allows low-income countries to earn US dollars to pay for American drugs and other necessities. In brief: 1. financially balanced trade in motor vehicles and their parts, with cheap electric car exemptions until January 2024 2. US-only for building supplies, except lumber, plywood and natural stone 3. consumer electronics with exemptions...
  • US publishes list of 1,300 Chinese goods worth US$50b to be targeted by tariffs

    04/04/2018 8:50:49 AM PDT · by TigerLikesRooster · 22 replies
    Straits Times ^ | APR 4, 2018
    US publishes list of 1,300 Chinese goods worth US$50b to be targeted by tariffs PUBLISHED APR 4, 2018, 7:36 AM SGT UPDATED 10 HOURS AGO WASHINGTON (AFP, REUTERS, WASHINGTON POST) - US officials have published a list of US$50 billion (S$65.6 billion) in Chinese imports set to be targeted by US tariffs, the latest move in President Donald Trump's simmering trade confrontation with Beijing. The move came a day after Beijing imposed duties on about US$3 billion in US exports such as pork, wine and fruit, a countermeasure to US metal tariffs that was widely seen as a warning Chinese...
  • China lists $50B of US goods it might hit with 25 pct tariff

    04/04/2018 8:10:58 AM PDT · by ChicagoConservative27 · 25 replies
    brietbart ^ | 04/04/2018 | AP
    BEIJING (AP) — China on Wednesday issued a $50 billion list of U.S. goods including soybeans and small aircraft for possible tariff hikes in an escalating technology dispute with Washington that companies worry could set back the global economic recovery. The country’s tax agency gave no date for the 25 percent increase to take effect and said that will depend on what President Donald Trump does about U.S. plans to raise duties on a similar amount of Chinese goods. Beijing’s list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American...
  • "Libertarians, Trade, Tariff's, and Trump."

    03/17/2018 7:27:01 PM PDT · by Voption · 17 replies
    Defining Ideas (Hoover Institution) ^ | March 15, 2018 | Professor Richard Epstein
    Richard Epstein contrasts two recent actions by the Trump Administration — the imposition of tariffs on steel and aluminum, and the blocking of a foreign company’s attempts to take over an American tech firm — to demonstrate when national security concerns justify restrictions on trade ... and when they don’t.
  • MSNBC’s Velshi Patronizes Steel Worker: ‘You Don’t Want Your Son Being a Steel Worker I Assume’

    03/13/2018 4:14:28 AM PDT · by servo1969 · 62 replies
    Freebeacon.com ^ | Cameron Cawthorne
    MSNBC host Ali Velshi patronized a steel worker on his show Friday by making the assumption that he wouldn't want his son to become a steel worker. Scott Sauritch, the president of United Steelworkers Union Local 2227, appeared on the show to discuss his support for President Donald Trump's newly announced tariffs of 25 percent on steel and 10 percent on aluminum imports. "So let me ask you this, Scott. You saw this trend in the 80s. You saw the imported steel was hurting the industry. I guess my question is for steel workers around America as I discussed with...
  • 25 American Products That Rely On Huge Protective Tariffs To Survive

    03/08/2018 4:08:13 PM PST · by Para-Ord.45 · 68 replies
    http://www.businessinsider.com ^ | Sep. 27, 2010 | Gus Lubin
    Congress is preparing assail China for protectionist policies, like a 105.4% tariff on US poultry. But anyone who thinks America is a perfect practitioner of free trade needs to wake up. The International Trade Commission lists over 12,000 specific tariffs on imports to America. Hundreds of agricultural, textile, and manufacturing items are highly protected. So are obscure items like live foxes. -Non-specific dairy products -- 20% tariff on imports -Most vegetables -- 20% tariff -Asparagus and sweet corn -- 21.3% tariff -Synthetic outerwear -- 28.2% tariff
  • Trump’s steel tariffs are hated by almost every US Industry

    03/08/2018 4:00:58 PM PST · by tcrlaf · 98 replies
    MSN/Vox ^ | 3-8-2018 | Alexia Fernández Campbell
    Business leaders from nearly every American industry are furious with President Trump right now. They’ve been pressuring his administration to back off from its plan to add steep tariffs on importedsteel and aluminum, which are used to make everything from cars to boats and even soup cans. But the president has waved off their concerns. On Thursday afternoon, Trump is expected to sign an order directing the Commerce Department to add the 25 percent levy on steel and the 10 percent levy on aluminum. He did say, however, that his administration will exempt Canada and Mexico from the tariffs for...
  • Flake to introduce bill to nullify Trump's tariffs

    03/08/2018 3:40:20 PM PST · by bkopto · 71 replies
    The Hill ^ | 3/8/2018 | jordain carney
    Sen. Jeff Flake (R-Ariz.) said on Thursday that he will introduce legislation to nix President Trump's tariffs on steel and aluminum imports just minutes after they were announced. "I will immediately draft and introduce legislation to nullify these tariffs, and I urge my colleagues to pass it before this exercise in protectionism inflicts any more damage on the economy," Flake said in a statement. Trump announced that he would levy the penalties — a 25 percent tariff for steel and 10 percent on aluminum — during a White House event. Canada and Mexico are exempted amid larger trade negotiations, Trump...
  • Trump signs tariffs proclamation

    03/08/2018 1:19:21 PM PST · by Lonely Bull · 36 replies
    UPI ^ | March 8, 2018 | Susan McFarland
    March 8 (UPI) -- President Donald Trump on Thursday, joined by steel and aluminum workers at the White House, imposed his promised industrial tariffs -- 25 percent on imported steel and 10 percent on foreign-made aluminum. Trump signed the tariff proclamations Thursday afternoon in a meeting with industry workers and officials -- ushering in fiscal penalties that have drawn ire from world leaders and sparked fears of a possible trade war. "A nation that does not protect property at home cannot protect its property abroad," Trump said. The White House said Canada and Mexico will initially be excluded from the...