Trump sets tariffs on $50 billion in Chinese goods; Beijing strikes back

Trump sets tariffs on $50 billion in Chinese goods; Beijing strikes back

WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump said he was pushing ahead with hefty tariffs on $ 50 billion of Chinese imports on Friday, and the smoldering trade war between the world’s two largest economies showed signs of igniting as Beijing immediately vowed to respond in kind. Trump laid out a list of more than […]

G7 asks Mnuchin to convey 'concern and disappointment' on tariffs

G7 asks Mnuchin to convey 'concern and disappointment' on tariffs

WHISTLER, British Columbia (Reuters) – Finance leaders of the closest U.S. allies vented anger over the Trump administration’s metal import tariffs but ended a three-day meeting in Canada on Saturday with no solutions, setting the stage for a heated fight at a G7 summit next week in Quebec. U.S. Treasury Secretary Steven Mnuchin failed to […]

Tariffs & Trade Wars Are Initiated Out of Weakness

Tariffs & Trade Wars Are Initiated Out of Weakness

The Trump administration is applying aggressive trade tariffs against friend and seeming foe alike in these days of heightened yet manufactured global economic “events, dear boy, events”, to quote former British Prime Minister Harold Macmillan.  China’s getting the brunt of the tariff abuse, and is returning tariff pressures in kind while ramping up its drive […]

Why tariffs on steel and aluminium are easier said than done

Why tariffs on steel and aluminium are easier said than done

HISTORY will rhyme on March 23rd, when Donald Trump’s tariffs on steel and aluminium imports are due to come into force. Several previous presidents, from Ronald Reagan to Barack Obama, also used tariffs in an attempt to protect America’s steel producers from foreign competition. (There are historical echoes, too, in Mr Trump’s plans to slap […]

Trump edges closer to China tariffs, appears to avert trade war

WASHINGTON (Reuters) – U.S. President Donald Trump signed a presidential memorandum on Thursday that could impose tariffs on up to $ 60 billion of imports from China, although his action was far removed from threats that could have ignited a global trade war. Under the terms of the memorandum, Trump will target the Chinese imports […]

Tariffs Are Not the Answer

Tariffs Are Not the Answer

By Ron Paul President Trump’s planned 25 percent tariff on steel imports and 10 percent tariff on aluminum imports may provide a temporary boost for those industries, but the tariffs will do tremendous long-term damage to the American and global economies. Tariffs raise the price of, and reduce demand for, imported goods. Tariffs ensure the […]

EU, Japan start push for exemptions from Trump tariffs

BRUSSELS (Reuters) – The European Union and Japan urged the United States on Saturday to grant them exemptions from metal import tariffs, with Tokyo calling for “calm-headed behavior” in a dispute that threatens to spiral into a trade war. U.S. Trade Representative Robert Lighthizer (L) and Japan’s Minister of Economy, Trade and Industry Hiroshige Seko […]

Trump steel tariffs may leave these U.S. steelworkers jobless

FARRELL, Penn. (Reuters) – Mick Lang has been a steelworker for nearly 40 years and voted for businessman Donald Trump in the hopes he would bring about a renaissance for the long-suffering U.S. steel industry – now he worries President Trump’s tariffs on imports of the metal will cost him his job. Steel coils sits […]