tariffs

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Trump Plans to Slap Tariffs on $7.5B in European Goods

Tariffs will hit EU cheese, wine, aircraft

(Newser) - The Trump administration plans to impose tariffs on $7.5 billion worth of European imports—from gouda cheese to single-malt whiskey to large aircraft—beginning Oct. 18 to retaliate against illegal European Union subsidies for aviation giant Airbus. The latest escalation in the administration’s tariffs will open a new... More »

US-China Trade War May Mean Higher Prices

Tariffs of 10% and 5% apply to various goods imported from China

(Newser) - The US and China on Sunday put in place their latest tariff increases on each other's goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season, the AP reports. President Donald Trump said US-China trade talks were still... More »

Lobster Exports to China Have Fallen Off a Cliff

Maine's pain is Canada's gain

(Newser) - US lobster exports to China have fallen off a cliff this year as new retaliatory tariffs shift the seafood business farther north. China, a huge and growing customer for lobster, placed heavy tariffs on US lobsters—and many other food products—in July 2018 amid rising trade hostilities between Beijing... More »

Trump: I Can Legally Enforce My China Ban

The president threatens to wield the International Emergency Economic Powers Act

(Newser) - President Trump is threatening to use the emergency authority granted by a powerful, but obscure federal law to make good on his tweeted "order" to US businesses to cut ties in China amid a spiraling trade war between the two nations, the AP reports. China's announcement Friday that... More »

Trump: Tariff Move Made for the 'Christmas Season'

Slew of tariffs will now kick in Dec. 15 instead of Sept. 1

(Newser) - The Trump administration on Tuesday announced it is punting on some of the tariffs it has announced against China. "We're doing this for the Christmas season," President Trump told reporters, a reference to fears that the import taxes could depress holiday sales, reports Reuters . The AP reports... More »

Trump Makes New Threat Amid Slow China Talks

The US will slap a tariff on $300B in Chinese goods, Trump says

(Newser) - President Trump says the US will apply a new tariff of 10% on about $300 billion worth of products from China on Sept. 1, the AP reports. Trump tweeted Thursday amid slow-moving talks with China that negotiations will continue. But he blamed China for not following through on stopping the... More »

China's Growth Slumps Amid Trade War With US

It's now at its lowest level in at least 26 years

(Newser) - Chin a's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington . The world's second-largest economy grew 6.2% over a year ago, down from the... More »

China Will Make Big Demand of Trump

Xi Jinping reportedly wants tariffs nixed and Huawei ban lifted to jump-start trade talks

(Newser) - There's a sliver of hope trade talks may resume between the US and China and that a trade war could soon be over, but China has some demands first. The Wall Street Journal reports Robert Lighthizer, the chief US trade representative, is set to meet with his Chinese equivalent... More »

The US-Mexico Deal Wasn't Quite What It Seemed, Officials Say

Apparently most of it was struck months ago

(Newser) - Turns out Friday's big immigration deal between the US and Mexico—or at least most of it—had already been struck over the past few months, officials on both sides tell the New York Times . The new agreement states that Mexico will deploy "its National Guard throughout Mexico"... More »

Trump: Tariffs for Mexico 'Indefinitely Suspended'

President says new reported deal will 'greatly reduce, or eliminate, illegal immigration'

(Newser) - "Indefinitely suspended." That's the fate of the tariffs President Trump had warned he'd levy against Mexico, per Trump himself, who tweeted Friday that a deal on immigration had been signed with our neighbors to the south, per Politico . Trump had previously signaled there was a "... More »

Suddenly, Tariffs on Mexico Aren't Such a Sure Thing

Trump says there's a 'good chance' of a deal before deadline of Monday

(Newser) - The tariffs scheduled to go into effect Monday against Mexico aren't looking like such a sure thing anymore. President Trump himself suggested as much on Twitter Friday, writing that there was a "good chance" of a deal before the looming deadline, reports USA Today . The tweet came as... More »

May Ends on Sour Note Over Tariffs' Worry

Dow falls 354

(Newser) - Stocks tumbled on Wall Street Friday after the US announced plans to expand its trade war to Mexico, its third-biggest trading partner. The S&P dropped 36 points, or 1.3%, to 2,752; the Dow Jones Industrial Average fell 354 points, or 1.4%, to 24,815; and the... More »

Trump's Mexico Tariff Plan Alarms Business Leaders

Sen. Grassley slams 'misuse of authority'

(Newser) - President Trump's plan to slap escalating tariffs on all imports from Mexico until the country stops the flow of migrants coming north is being criticized by business leaders—and a GOP senator who is usually a reliable Trump ally. Republican Sen. Charles Grassley, chair of the Senate Finance Committee,... More »

Trump Announces New Tariffs Until Mexico Stops Migrants

He warns that they could go up to 25%

(Newser) - President Trump has vowed to slap new tariffs on all goods from Mexico—and to keep increasing them until the country stops migrants coming to the US. On June 10, the US "will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time... More »

Trump Makes 2 Big Moves on Tariffs

He lifts them on Canada and Mexico and postpones action against Japan, Europe

(Newser) - Bogged down in a sprawling trade dispute with US rival China, President Trump took steps Friday to ease tensions with America's allies—lifting import taxes on Canadian and Mexican steel and aluminum and delaying auto tariffs that would have hurt Japan and Europe. By removing the metals tariffs on... More »

Walmart: Always Low Prices... Unless Tariffs Increase

Higher tariffs = higher prices, Walmart warns

(Newser) - Walmart warned on Thursday that higher tariffs on imports from China will mean higher prices, the AP reports. The comments came after the nation's largest retailer reported its best sale performance at its established US namesake stores for the fiscal first quarter in nine years. It marked 19 straight... More »

The US Response to China's Tariff Move? Go Bigger

US Trade Representative's Office targets $300B of goods from China that could be hit

(Newser) - Retaliation is coming fast and furious: After China on Monday announced tariff hikes on $60 billion of American goods, US officials put out a list of $300 billion of Chinese goods that could be subject to a tariff hike—on top of the $200 billion of imports that will see... More »

Dow Plummets 700 Points After China Makes Its Move

Beijing announced $60B in tariffs on US goods on Monday

(Newser) - Investors around the world were waiting to see how China would respond to the new US tariffs put into place last week, and Monday morning brought the answer: Beijing will raise tariffs on about $60 billion worth of imports from the US, reports the Wall Street Journal . The move came... More »

Kudlow Concedes China Tariffs Will Cost US Consumers

Chief economic adviser contradicts Trump

(Newser) - President Trump's chief economic adviser contradicted his boss Sunday on tariffs placed on imports from China by the US. The president had said that China will bear the cost. On Fox News Sunday, host Chris Wallace pressed Larry Kudlow, saying the cost of tariffs is passed on to US... More »

'Big Shock to Economy' Predicted as Tariffs Kick In

China has promised 'countermeasures'

(Newser) - The trade war is heating up: China said Friday it "deeply regrets that it will have to take necessary countermeasures" after the tariff hikes threatened by President Trump kicked in at 12:01am. American and Chinese negotiators met in Washington, DC, Thursday but were unable to reach a deal... More »

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