President Donald Trump on Thursday revoked a nearly century-old tax loophole that saved companies from paying tens of billions of dollars in fees on cheap imports, most of which come from China.
President Donald Trump on Wednesday announced a baseline tax on imports from all countries, as well as what he called “reciprocal” tariffs on dozens of nations that run trade surpluses with the U.S.
As the trade wars launched by U.S. President Donald Trump continue to escalate, all eyes are on Wednesday.
Foreign leaders were quick to criticize the tariffs, a sign that President Trump could be intensifying a broader trade war that could damage growth worldwide.
Representatives of Israel-based Iron Nation, established to support Israeli startups during the country’s ongoing war with Palestinian militant group Hamas, came to Indianapolis as part of a U.S. visit to meet with potential investors.
President Donald Trump, in a Thursday social media post, vowed a new escalation in his trade war if the EU goes forward with the planned 50% tariff on American whiskey.
The European Union responded within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%.
While President Trump’s tariffs could help steel and aluminum plants in the United States, they could raise prices for the manufacturers that use the metals as raw materials.
Questions about the fate of the popular video sharing app have continued to linger since a law requiring its China-based parent company to divest or face a ban took effect on Jan. 19.
The U.S. stock market promptly fell following his social media post, triggering more concerns after a brutal selloff on Monday.
For an industry that has to plan well into the future, based on aging its whiskey products, angst is widespread in Kentucky, which produces 95% of the world’s bourbon supply.
The Chinese tariffs, announced last week, were a response to Trump’s decision to double the levy on Chinese imports to 20% on March 4.
Ontario provides electricity to Minnesota, New York and Michigan. Quebec is also considering taking similar measures with electricity exports to the U.S.
Secretary of State Marco Rubio said the programs “spent tens of billions of dollars in ways that did not serve, (and in some cases even harmed), the core national interests of the United States.”
Also Thursday, Canadian Prime Minister Justin Trudeau indicated that he expects his country will be in a trade war with the United States for the foreseeable future.
Nearly 80% of the toys sold in the U.S. are sourced from China, according to The Toy Association, a national industry group.
The indictments come as the U.S. government has warned of an increasingly sophisticated cyber threat from China.
Farmers and meat producers across the U.S. expect the new tariffs on Mexico, Canada and China and the retaliatory action from those countries to hurt their bottom lines if they stay in place a while.
The tariffs will apply to imports of key U.S. farm products, including chicken, pork, soy and beef.
President Trump indicated that he wants to even the trade imbalance with both countries and push more factories to relocate in the United States.
