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Keyword: tariffs

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  • US slaps 220 percent duty on Canada's Bombardier jets

    09/27/2017 6:56:42 AM PDT · by Olog-hai · 50 replies
    Associated Press ^ | Sep 26, 2017 10:05 PM EDT | Paul Wiseman and Rob Gillies
    The Commerce Department slapped duties of nearly 220 percent on Canada’s Bombardier C Series aircraft Tuesday in a victory for Boeing that is likely to raise tensions between the United States and its allies Canada and Britain. Commerce ruled that Montreal-based Bombardier used unfair government subsidies to sell jets at artificially low prices in the U.S. “The U.S. values its relationships with Canada, but even our closest allies must play by the rules,” Commerce Secretary Wilbur Ross said. Canada responded by saying it “strongly disagrees” with the U.S. move. “This is clearly aimed at eliminating Bombardier’s C Series aircraft from...
  • Steve Bannon’s Bad History

    09/20/2017 5:45:08 AM PDT · by reaganaut1 · 17 replies
    Wall Street Journal ^ | September 19, 2017 | Douglas A. Irwin
    So far, the Trump administration’s trade policy has seen an internal division among economic nationalists and “globalists” on the president’s senior staff. The economic nationalists, and the president himself, believe protectionism will strengthen the American economy. “Look at the 19th century,” said former White House chief strategist Steve Bannon in his recent “60 Minutes” interview. “What built America’s so called ‘American system,’ from Hamilton to Polk to Henry Clay to Lincoln to the Roosevelts? A system of protection of our manufacturing, financial system that lends to manufacturers, OK, and the control of our borders.” In the nationalists’ narrative, high tariffs...
  • Exclusive: Trump vents in Oval Office, "I want tariffs. Bring me some tariffs!"

    08/28/2017 3:51:11 AM PDT · by DoodleDawg · 50 replies
    Axios ^ | 8/27/17 | Jonathan Swan
    The following is a rare account of President Trump in a small Oval Office meeting, venting at senior staff for sometimes resisting his hawkish trade agenda. This account — confirmed by sources with knowledge of the meeting and undisputed by the White House — hints at where Trump may be heading with his trade agenda. And it shows he believes some of his top economic advisors are resisting his agenda because they are "globalists." The scene: The Oval Office, during Gen. Kelly's first week as Chief of Staff. Kelly convened a meeting to discuss the administration's plans to investigate China...
  • Tariffs Are Behind Skyrocketing Lumber Prices

    08/02/2017 9:34:37 AM PDT · by Eric Pode of Croydon · 124 replies
    American Spectator ^ | 2 Aug 2017 | Andrew Wilford
    Back in April, President Trump slapped tariffs of around 20 percent on the Canadian softwood lumber industry. At the time, I wrote that it would cause lumber prices to rise, citing estimates that prices could increase by around 6.4 percent. Well, it turns out I was wrong, and lumber prices have not risen by around 6 or 7 percent. Instead, they’ve risen by much more since the spring—as much as 25 percent. One contributing factor for this spike is not hard to see. Tariffs are taxes on the consumer, restricting the consumer’s options when purchasing a product. The levies make...
  • Trump overrules cabinet, plots global trade war

    06/30/2017 11:40:28 AM PDT · by Rockitz · 119 replies
    Axios.com ^ | 30 June 2017 | Mike Allen & Jonathan Swan
    With the political world distracted by President Trump's media wars, one of the most consequential and contentious internal debates of his presidency unfolded during a tense meeting Monday in the Roosevelt Room of the White House, administration sources tell Axios. The outcome, with a potentially profound effect on U.S. economic and foreign policy, will be decided in coming days. With more than 20 top officials present, including Trump and Vice President Pence, the president and a small band of America First advisers made it clear they're hell-bent on imposing tariffs — potentially in the 20% range — on steel, and...
  • Trump’s Steel-Trapped Minds

    06/12/2017 5:37:45 AM PDT · by reaganaut1 · 45 replies
    Wall Street Journal | June 11, 2017
    Donald Trump has ordered a “national security” review of steel imports with a goal of justifying a broad-based tariff. If his advisers look honestly at the evidence, they can’t possibly find enough to justify such a job-killing, economically harmful policy. ... The greatest harm from broad-based steel tariffs would be to the thousands of American businesses and workers that use steel. These would include the higher cost of American steel for construction (42% of steel shipments), automotive (27%) and machinery (9%). Public works and homes would cost more to build. Many U.S. companies that compete globally would risk losing business...
  • Bush sneaking North American super-state without oversight?

    06/13/2006 6:08:39 AM PDT · by conservativecorner · 339 replies · 4,256+ views
    WorldNet Daily ^ | June 13, 2006 | Jerome Corsi
    Despite having no authorization from Congress, the Bush administration has launched extensive working-group activity to implement a trilateral agreement with Mexico and Canada. The membership of the working groups has not been published, nor has their work product been disclosed, despite two years of massive effort within the executive branches of the U.S., Mexico and Canada. The groups, working under the North American Free Trade Association office in the Department of Commerce, are to implement the Security and Prosperity Partnership, or SPP, signed by President Bush, Mexican President Vicente Fox and then-Canadian Prime Minister Paul Martin in Waco, Texas, on...
  • Trump’s New Housing Tax: A tariff on foreign lumber will raise the cost of U.S. homes.

    04/26/2017 5:25:18 AM PDT · by reaganaut1 · 93 replies
    Wall Street Journal ^ | April 25, 2017
    Commerce Secretary Wilbur Ross announced Monday that the Trump Administration will raise the cost of new single family homes in the U.S. as part of its promise to “make America great again.” Mr. Ross didn’t put it quite that way. He said the Administration will impose a 20% tariff on softwood lumber imports from Canada, which total about $5 billion at year. But that’s a lot of lumber and the tariff will add an additional $1 billion in new costs for U.S. construction. Most of those costs will be added to the price of new American housing, not counting the...
  • Teeing Up Trump Tariffs (higher taxes on U.S. steel consumers)

    04/21/2017 4:46:16 AM PDT · by reaganaut1 · 45 replies
    Wall Street Journal ^ | April 20, 2017
    ... Take steel, a Trump preoccupation. One reason for exceptions is that domestic manufacturers have limited capability to produce steel of certain strengths, thickness and flexibility. Most higher-strength steels used in thin-walled pipelines are made overseas. Retrofitting plants to produce a type of steel for one or two projects could delay construction and increase the cost. More U.S. workers would have to be retrained, which may not be practical in the short-term. So contractors often have no choice but to import foreign substitutes. The American Petroleum Institute chronicled some of these supply challenges in its response to Mr. Trump’s earlier...
  • Did you know THERE WAS NO INCOME TAX till the Civil War?

    04/16/2017 3:06:15 PM PDT · by ReformedMedia · 36 replies
    The Washington Standard ^ | 04-15-2017 | William Federer
    On APRIL 15, 1865, President Lincoln died. He was shot the night before in Ford’s Theater. On APRIL 15, 1912, the Titanic sank. It struck an iceberg the night before. Among the 1,514 lives lost were millionaires John Jacob Astor IV, Benjamin Guggenheim and Isa Strauss, all of whom were vocal opponents of the Federal Reserve Act. In 1954, APRIL 15 became the deadline for filing Income Tax returns. Originally, Article I, Section 9 of the U.S. Constitution prohibited a direct Federal Income Tax on American citizens: “NO CAPITATION OR OTHER DIRECT TAX SHALL BE LAID, UNLESS IN PROPORTION TO...
  • Germany vows legal action if Trump taxes imports

    03/17/2017 8:12:03 AM PDT · by Olog-hai · 18 replies
    TheLocal.de ^ | 17 March 2017 10:22 CET+01:00 | AFP
    Germany could take the United States to court if Washington goes ahead with plans to tax imports, Economy Minister Brigitte Zypries said Friday, hours before Chancellor Angela Merkel’s first meeting with Donald Trump. “I’m betting partly on reason and partly on the courts” to prevent a damaging trade war, Zypries told Deutschlandfunk public radio. The minister’s combative stance comes ahead of Merkel’s first meeting with Trump in Washington and a gathering of G20 finance ministers in Baden-Baden, western Germany, set to be dominated by the US president’s “America First” policy. […] If a US border tax was found to breach...
  • There Are No Tariffs on Coffee. Care to Guess Why?

    03/10/2017 8:57:25 PM PST · by TBP · 114 replies
    FEE ^ | March 10, 2017 | Donald J. Boudreaux
    Being a world-class economist, my colleague Walter Williams spends much of his time asking probing questions. Here’s one that he posed to me recently by e-mail: Don: I don’t think there are tariffs on coffee and I know of no organization calling for coffee tariffs. I wonder why. Great, probing question. The answer is that there are very few coffee growers in the United States. In the U.S. states, coffee is grown commercially only in Hawaii. Coffee is also grown commercially also in Puerto Rico. The result of this small number of American coffee growers is that these growers are...
  • America First – Production and Manufacturing…

    02/23/2017 1:36:18 PM PST · by HarleyLady27 · 38 replies
    The Conservative Treehouse ^ | Feb. 23, 2017 | Sundance
    REMINDER – One of the larger hurdles President Trump faces is a need to re-educate an entire generation on a fundamentally new vision of the U.S. economy. A return to a Pro-Main Street, goods-based, manufacturing, technology, innovation and industry driven economic model. Interestingly, many people have referenced a 1991 (25 years old) video of Donald Trump testifying before congress – as evidence of him being tuned in to political consequences of economic activity. The entire video is well worth watching because it gives you insight into a very specific moment in time as they discuss the ‘Reagan era’ 1986 tax...
  • Why All Protectionists Are Essentially Luddites

    02/07/2017 4:56:55 AM PST · by Tolerance Sucks Rocks · 169 replies
    Foundation for Economic Education ^ | January 24, 2017 | Donald J. Boudreaux
    It’s well-known among people who bother to learn the facts that U.S. manufacturing output continues to rise despite the reality that the number of Americans employed in jobs classified as being in the manufacturing sector peaked in June 1977 and has fallen, with very few interruptions, ever since.Nevertheless, some people – for example, the Economic Policy Institute’s Robert Scott – continue to insist that the loss of manufacturing jobs in the U.S. is largely due to increased American trade with non-Americans. Other studies find empirical evidence that labor-saving innovation rather than trade is overwhelmingly responsible for the loss of manufacturing...
  • How Trump's Protectionism Would Destroy Auto Industry Jobs, Not Create Them

    01/26/2017 8:21:23 PM PST · by TBP · 95 replies
    Forbes | JAN 20, 2017 | Joann Muller
    <p>President Donald J. Trump didn't wait long to act on one of his signature campaign promises, announcing just moments after being sworn in as the country's 45th president that the U.S. intends to withdraw from the Trans-Pacific Partnership and that he will renegotiate the North American Free Trade Agreement "to give American workers a fair deal."</p>
  • Trump Has Huge Opportunity To Kill NAFTA

    01/26/2017 6:10:43 PM PST · by VitacoreVision · 7 replies
    The New American ^ | 16 November 2016 | Steve Byas
    The globalist modus operandi of handing over to the president immense powers to act unilaterally without Congress may now come back to bite them. During the recent presidential campaign, President-elect Donald Trump often railed against the North American Free Trade Agreement (NAFTA), charging that it was hollowing out American industry, costing hundreds of thousands of Americans good-paying jobs, and promising to do something about it were he to be elected.Turns out, the provisions of NAFTA may very well allow President Trump to act on his own to change tariff rates, force negotiations to modify the pact, or even withdraw the...
  • Trump Endorses Plan for 20% Tax on All Imports

    01/26/2017 1:12:48 PM PST · by reaganaut1 · 123 replies
    New York Times ^ | JANUARY 26, 2017 | MICHAEL D. SHEAR
    PHILADELPHIA — President Trump plans to make Mexico pay for his border wall by imposing a 20 percent tax on all imports into the United States from Mexico, raising billions of dollars that would cover the cost of the new barrier. The proposal, which Sean Spicer, the White House press secretary, said the president discussed privately with congressional Republicans before giving remarks at a party retreat here, would be a major new economic proposal that could have far-reaching implications for consumers, manufacturers and relations between the two governments. Mr. Spicer said the 20 percent tax on annual Mexican imports would...
  • Mark Levin Show,M-F,6PM-9PM,EST,WABC AM,January 23-27,2017

    01/23/2017 5:33:43 PM PST · by Biggirl · 34 replies
    Mark Levin Show ^ | January 23, 2017 | Mark Levin
    Good Evening/Night, WELCOME MARK LEVIN!
  • SAP to create 10,000 jobs in US, pending Trump tariff policies

    01/17/2017 5:53:44 PM PST · by 2ndDivisionVet · 11 replies
    CNBC ^ | January 17, 2017 | Karen Gilchrist, Digital Reporter
    Multinational software giant SAP SE has called on the incoming Trump administration to rethink any punitive tariffs and tax policies as it sets out to create 10,000 new jobs in the U.S. over the next year. The firm, which currently serves 25 industries across 190 countries, aims to significantly boost its business in the U.S. over the coming 13 months, chief executive Bill McDermott told CNBC's Squawk Box at the World Economic Forum in Davos, Switzerland. However, he said that he was worried that added taxes and tariffs could be "problematic" for these goals. "We obviously don't want to get...
  • Trump's trade agenda takes the GOP back a century

    01/09/2017 5:31:31 PM PST · by WatchungEagle · 36 replies
    Vox ^ | Jan 4, 2017 | Timothy B. Lee
    A couple of years ago, free trade was seen as a key principle of the Republican Party. Then Donald Trump became the Republican nominee for president, and things got more complicated.