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Keyword: trumptariffs

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  • Output Soars Even at U.S. Manufacturers That Make Stuff from Tariffed Steel and Aluminum

    11/16/2018 11:38:01 AM PST · by MaxistheBest · 25 replies
    Brietbart ^ | 11/16/2018 | John Carney
    Tariffs on steel and aluminum are not slowing down most American manufacturers that use the metals in production, defying forecasts that the higher duties would hit metals-using businesses hard. There have been many anecdotal reports of strains put on metals using business from the tariffs but the data do not support the idea that these are significant in aggregate. If anything, the tariffs have been accompanied by rising output and rising demand for productive capacity. Fabricated metals products output rose 0.2 percent in October, the third consecutive monthly gain, according to data released by the Federal Reserve Friday. For the...

    07/25/2018 2:18:04 PM PDT · by 11th_VA · 43 replies
    ABC7 ^ | July /4, 2018 | AP
    WASHINGTON - President Donald Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods and would work to resolve U.S. tariffs on steel and aluminum imports that have roiled European markets. The president, in a hastily called Rose Garden statement with European Commission President Jean-Claude Juncker, said the EU had agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S. Juncker, meanwhile, said the U.S. and EU had agreed to hold off on further tariffs as part of trade talks aimed...
  • Trump announces a ‘new phase,’ in US-EU relationship, working toward ‘zero tariffs’

    07/25/2018 1:32:29 PM PDT · by Innovative · 72 replies
    CNBC ^ | July 25, 2018 | Christina Wilkie
    President Donald Trump on Wednesday secured concessions from Europe, averting a trade war, Dow Jones reported, citing a European Union official. The report came shortly before Trump and European Commission President Jean-Claude Juncker were scheduled to brief the press at a joint conference in the White House Rose Garden.
  • European stocks fall as Trump threatens China with tariffs on all $500 billion in goods to U.S.

    07/20/2018 8:51:33 AM PDT · by 2ndDivisionVet · 20 replies
    Market Watch ^ | July 20, 2018 | Carla Mozee
    European stocks fell Friday, with auto and bank shares among those losing ground as U.S. President Donald Trump threatened a significant expansion in tariffs on Chinese imports, underscoring concerns that a global trade war will crimp global economic growth and corporate profits. ---snip--- European stocks extended losses after Trump, in an interview with CNBC, said he’s “ready” to put tariffs on all Chinese goods imported to the U.S., which would amount to more than $500 billion. Trump had previously said he’s looking at targeting $200 billion in Chinese imports, and that would be on top of tariffs already in effect...
  • China announces new tariffs on 106 US products, including soy, cars and chemicals

    04/04/2018 8:45:34 AM PDT · by Mariner · 14 replies
    CNBC ^ | April 4th, 2018 | Sam Meredith
    China announced additional tariffs on 106 U.S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world's biggest economies. The effective start date for the new charges was not announced, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually. The 25 percent levy on U.S. imports includes products such as soybeans, cars and whiskey, Beijing said. The full list can be found here. The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports...
  • 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...
  • U.S. Stocks Sell Off on Concerns About Trade

    03/22/2018 2:49:13 PM PDT · by reaganaut1 · 47 replies
    Wall Street Journal ^ | March 22, 2018 | Michael Wursthorn and Riva Gold
    Trade war fears that have roiled the markets for two weeks intensified Thursday, sending the Dow Jones Industrial Average tumbling more than 700 points and adding to concerns that stocks could be headed for a larger reckoning. Thursday’s selling, which sent shares of manufacturers, aluminum producers and steelmakers sharply lower, marked the culmination of months of growing investor anxiety over the course of U.S. trade policy. It came at a time when many say the market was already under pressure, gripped by fears over rising interest rates and sliding technology shares. Trade tensions ratcheted higher, as the Trump administration said...
  • Dow close down more than 720 points amid news of Trump's planned tariffs on China

    03/22/2018 1:46:11 PM PDT · by SMGFan · 70 replies
    ABC News ^ | March 22, 2018
    The Dow Jones Industrial Average plunged more than 700 points today amids Wall Street fears of a potential trade war with China sparked by punishing tariffs announced by President Donald Trump.
  • Yes, Ben Shapiro is Still Wrong on Tariffs. Here’s Why

    03/19/2018 12:50:03 PM PDT · by Thalean · 53 replies
    American Greatness ^ | March 19, 2018 | Spencer P Morrison
    Shapiro claims that I favor “total state control of the economy” because I think it is possible to “simply pick the best industries and subsidize them.” Apparently, tariffs are Communism, and I am Stalin. . . Shapiro has it entirely backward: tariffs are the form of taxation most consistent with small government. . . tariffs are antithetical to big government because they preclude socialism. How? Tariffs make imports expensive. This encourages domestic production and discourages offshoring—thereby boosting demand for American labor. Basically, tariffs create stable jobs and increase wages for American workers... The key to solving this puzzle is recognizing...
  • Betsy McCaughey Defends Trump’s Tariffs, Badly

    03/17/2018 6:59:32 AM PDT · by SeekAndFind · 13 replies
    National Review ^ | 03/17/2018 | Ramesh Ponnuru
    Nothing in her op-ed strikes so much as a glancing blow at any of the criticisms of the tariffs. In the New York Post, Betsy McCaughey says the steel and aluminum tariffs have come under “an avalanche of false criticism.” Let’s check out her arguments one by one, in order.National security IMcCaughey writes, Tariff-bashers claim in war, the United States could rely on foreign suppliers. That’s ridiculous. Uncle Sam can compel our manufacturers to make defense needs a priority — but not foreign producers. The biggest suppliers targeted by the tariffs are Brazil, South Korea, Russia and Turkey. Should our...
  • Trump Readies Sweeping Tariffs and Investment Restrictions on China

    03/16/2018 12:12:00 PM PDT · by NRx · 85 replies
    NY Times ^ | 03-16-2018 | ANA SWANSON
    WASHINGTON — The dust has yet to settle on President Trump’s decision to impose sweeping tariffs on steel and aluminum imports, but the White House is preparing another major trade measure, this time aimed squarely at China. Mr. Trump and his top trade advisers are readying a raft of actions to penalize China’s theft of American intellectual property, including tariffs on at least $30 billion of annual Chinese imports, people familiar with the discussions said. The measures, which could be announced as early as next week, may also include investment restrictions, caps on visas for Chinese researchers and challenges to...
  • US STOCKS-Dow sheds 250 pts as trade war worries weigh on industrials

    03/14/2018 7:05:29 PM PDT · by cba123 · 14 replies
    CNBC ^ | 10 hours ago | Sruthi Shankar
    March 14 (Reuters) - The Dow Jones Industrial Average shed more than 250 points on Wednesday as U.S. manufacturers continued to suffer from concerns over the impact of new tariffs on trade. (please see full article at the link)
  • Economists Worry a Trade War Could Derail U.S. Growth

    03/15/2018 7:34:06 AM PDT · by reaganaut1 · 31 replies
    Wall Street Journal ^ | March 15, 2018 | Ben Leubsdorf
    Economists estimate President Donald Trump’s steel and aluminum tariffs will reduce U.S. employment only modestly, but increasingly worry that foreign-trade disputes could escalate and damage the U.S. economy. Forecasters surveyed in recent days by The Wall Street Journal continue to expect solid economic growth this year, but see rising odds that growth will come in below expectations. Just over half said risks were tilted to the downside, jumping from 30% in February and the highest share since September. Even generally optimistic economists cited trade policy or protectionism as risks to the outlook. “With everything looking better coming into the year,...
  • This Is Exactly How Trade Wars Begin

    03/15/2018 7:44:21 AM PDT · by reaganaut1 · 62 replies
    Wall Street Journal ^ | March 14, 2018 | Alan S. Blinder
    Dear President Trump : It seems you are about to impose tariffs on imported steel and aluminum. You probably know that just about every economist except Peter Navarro thinks this is a terrible idea. But it’s not just us economists. Aside from the steel and aluminum industries, virtually the entire business community opposes the tariffs. The stock market took a major hit. And by the way, when did you stop using the Dow to keep score? You tweeted that “trade wars are good, and easy to win.” Actually, trade wars are bad, and impossible to win. Voluntary trade is a...
  • Trump's Steel and Aluminum Tariffs

    03/14/2018 9:27:08 AM PDT · by Kaslin · 35 replies ^ | March 14, 2018 | Walter E. Williams
    There are a couple of important economic lessons that the American people should learn. I'm going to title one "the seen and unseen" and the other "narrow well-defined large benefits versus widely dispersed small costs." These lessons are applicable to a wide range of government behavior, but let's look at just two examples. Last week, President Donald Trump enacted high tariffs on imports of steel and aluminum. Why in the world would the U.S. steel and aluminum industries press the president to levy heavy tariffs? The answer is simple. Reducing the amounts of steel and aluminum that hit our shores...
  • President Trump's Trade War: Tariffs, Taxes and Propaganda

    03/12/2018 12:27:47 PM PDT · by ThinkingBuddha · 4 replies ^ | 03.10.2017 | Stefan Molyneux
    President Donald Trump is fulfilling yet another campaign promise by imposing steel and aluminum tariffs and pushing for further trade renegotiation around the world. While those interested in the principle of "free trade," business leaders, globalist politicians, the mainstream media attempt to galvanize the pubic against President Trump - Stefan Molyneux breaks down both side of the complicated issue.
  • U.S. Allies Sign Sweeping Trade Deal in Challenge to Trump

    03/08/2018 12:05:01 PM PST · by reaganaut1 · 43 replies
    New York Times ^ | MARCH 8, 2018 | ERNESTO LONDOÑO and MOTOKO RICH
    SANTIAGO, Chile — A trade pact originally conceived by the United States to counter China’s growing economic might in Asia now has a new target: President Trump’s embrace of protectionism. A group of 11 nations — including major United States allies like Japan, Canada and Australia — signed a broad trade deal on Thursday that challenges Mr. Trump’s view of trade as a zero-sum game filled with winners and losers. Covering 500 million people on either side of the Pacific Ocean, the pact represents a new vision for global trade as the United States threatens to impose steel and aluminum...
  • Trade adviser ascends in Trump White House

    03/11/2018 12:48:47 PM PDT · by yesthatjallen · 5 replies
    The Hill ^ | 03/11/18 | Niv Elis
    One must only watch a few minutes of Peter Navarro’s economic hypernationalist film “Death By China” to understand why President Trump has an affinity for the man. In the movie’s opening scenes, a flag-painted cutout of the United States tumbles to the ground and is brutally stabbed with a knife. As the map gushes blood, the knife’s handle is revealed to resemble Chinese currency, and its blade is labeled “Made in China.”
  • Trump Tariffs Cost 5 Jobs for Single Job Gained, Analysis Finds

    03/12/2018 10:25:15 AM PDT · by Tolerance Sucks Rocks · 113 replies
    The Daily Signal ^ | March 9, 2018 | Fred Lucas
    The Trump administrationÂ’s new tariffs on steel and aluminum from abroad could result in more than five jobs lost for every single job gained, according to an analysis from a group that advocates free trade.The job losses will be direct and indirect, as price hikes will hit American companies that buy international steel to make screws, wires, and machines, Laura M. Baughman, president of the Trade Partnership, said Friday during a Heritage Foundation event.The Trade Partnership anticipates a net loss of 146,000 U.S. jobs, Baughman said.On Thursday, President Donald Trump announced steel tariffs of 25 percent and aluminum tariffs of...
  • Trade War Prospect Shakes Part of Trump Base: Midwest Farmers

    03/10/2018 12:27:17 PM PST · by reaganaut1 · 26 replies
    New York Times ^ | March 10, 2018 | MONICA DAVEY and PATRICIA COHEN
    MAPLE PARK, Ill. — Snow and sleet were falling on Eldon Gould’s 500 acres this week, but he was already looking ahead to planting season; depending on ground conditions and the temperature, that could be just several weeks away. But now the prospect of steel and aluminum tariffs was adding to the list of worries and uncertainties that come with every corn and soybean season. “It’s the retaliation risk,” Mr. Gould said from his kitchen table in Maple Park, in a region of northern Illinois where farmland runs on for miles. “The world’s already awash in grain,” Mr. Gould said,...