Tag Archives: tariffs

CNN reports: Some of the last cargo ships carrying Chinese goods without crippling tariffs are currently drifting into US ports. Come next week, though, that will change. Cargo on ships from China loaded after April 9 will carry with them the 145% tariff President Donald Trump slapped on goods from that nation last month. Next week, those goods will arrive, but …

NBC News reports: U.S. fireworks wholesalers and distributors say they’ve been canceling shipments from China for this year’s July Fourth holiday. Some are also halting manufacturing in China of fireworks for next year’s celebrations of the 250th anniversary of America’s independence. Trump’s April 2 tariff rollout, which he dubbed “Liberation Day,” raised the effective import tax rate on nearly all …

The Daily Mail reports: Two major airlines have warned that European tourists are avoiding visiting the US this summer. Air France and Lufthansa reported weaker demand for transatlantic bookings from Europe to the US in the first quarter of the year. “We know there are a lot of customers that are holding back in buying tickets for a little more …

The Hill reports: A Senate vote to scrap President Trump’s wide-ranging “Liberation Day” tariffs narrowly failed on Wednesday, sparing Republicans a second consecutive blow as the president’s trade policy continues to face opposition. Three Republicans — Sens. Susan Collins (Maine), Lisa Murkowski (Alaska) and Rand Paul (Ky.) — voted in favor of the resolution alongside every present Senate Democrat. But …

Axios reports: President Trump appeared to acknowledge Wednesday that toy shortages are possible as his tariff hikes ripple through the economy. American retailers are growing worried that the president’s trade war and increased volatility will lead to empty shelves, higher prices and store closures as Chinese imports screech to a halt. The CEOs of Walmart, Target and Home Depot privately …

From the Wall Street Journal editorial board: President Trump says his tariffs may raise enough revenue to replace the income tax, so why is he afraid to let Americans see what they’re paying? Instead of owning its policy, the White House has bullied Amazon to keep quiet about what it will cost. The spat started Tuesday morning when Punchbowl News …

CNBC reports: The U.S. economy contracted in the first three months of 2025, fueling recession fears at the start of President Donald Trump’s second term in office as he wages a potentially costly trade war. Gross domestic product, a sum of all the goods and services produced from January through March, fell at a 0.3% annualized pace, according to a …

The New York Times reports: President Trump signed a pair of executive orders on Tuesday that walked back some tariffs for carmakers, removing levies that Ford, General Motors and others have complained would backfire on U.S. manufacturing by raising the cost of production and squeezing their profits. The changes will modify Mr. Trump’s tariffs so carmakers that pay a 25 …

Axios reports: Walmart on Tuesday rejected the idea that it would apply an itemized surcharge to purchases to account for President Trump’s increased tariffs. A report Tuesday that Walmart rival Amazon was poised to add a tariff fee to sales in the U.S. triggered outrage in the White House, which condemned it as a “hostile and political act.” Walmart, the …

The New York Times reports: President Trump’s China tariffs are threatening Christmas. Toy makers, children’s shops and specialty retailers are pausing orders for the winter holidays as the import taxes cascade through supply chains. Factories in China produce nearly 80 percent of all toys and 90 percent of Christmas goods sold in America. The production of toys, Christmas trees and …

CNN reports: The White House took aggressive aim at Amazon, with President Donald Trump putting in a call to Amazon founder Jeff Bezos Tuesday morning, after the company considered displaying the added cost of tariffs on certain items. Trump called Bezos to complain about reports that Amazon was considering displaying the cost of US tariffs next to prices for certain …

From the Wall Street Journal editorial board: Mr. Trump was elected to control inflation and raise real incomes, but tariffs do the opposite. They guarantee at least a one-time increase in prices on imported goods that will flow through the economy. They portend shortages for consumers, and for businesses that source goods and components from abroad. It’s a mistake to …

Politico Europe reports: Britain and the European Union are set to sign a formal declaration committing to “free and open trade” in defiance of Donald Trump’s tariff agenda. A leaked draft seen by POLITICO promises a “new strategic partnership” between London and Brussels based on “maintaining global economic stability and our mutual commitment to free and open trade.” It comes as …

Reuters reports: Amazon’s Prime Day is losing its luster among a critical group: sellers. Some third-party merchants who previously sold China-made goods during Amazon’s premier July shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer. The planned pullback, which hasn’t been previously reported, is a way for sellers to protect profit margins …

Mediaite reports: President Donald Trump is vowing such success with his widely-derided tariff plan that income taxes could be “completely eliminated” for many American workers. In a Sunday morning post on Truth Social, the president made a bold pledge about the degree to which he believes his tariffs will work. New polling shows Americans are highly skeptical the tariffs will …

Axios reports: American retailers are growing worried that President Trump’s trade war and increased volatility will lead to empty shelves, higher prices and store closures as Chinese imports screech to a halt. Many retailers stocked up on inventory in the first months of 2025, realizing that a storm was coming — but their inventories are poised to dwindle quickly. The …

Supermarket News reports: Albertsons is taking a hard-line approach with suppliers regarding cost increases tied to tariffs. Omer Gajial, the grocer’s head of merchandising, told suppliers via letter that Albertsons will not accept cost increases. Those wishing to propose a price change must follow a multi-step process, Forbes reported. The letter, sent in March, stated that suppliers may not include …

ABC News reports: Seven in 10 Americans think President Donald Trump’s tariffs on international trade will drive up U.S. inflation, outweighing hopes that they’ll boost manufacturing employment and fueling a 64% disapproval rate of how he’s handling the issue. Even nearly half of Republicans — 47% in the ABC News/Washington Post/Ipsos poll released Friday — said they think tariffs will …

ABC News reports: President Donald Trump, in a wide-ranging interview with Time magazine published Friday, claimed he’s already “made 200 deals” on tariffs and said he’s spoken with Chinese President Xi Jinping. In the cover story, in which Trump’s discussed his first 100 days in office, the president was asked about White House trade adviser Peter Navarro’s prediction of “90 …

The Hill reports: China canceled 12,000 metric tons of United States pork shipments amid a high-stakes trade standoff between the superpowers, according to data released Thursday. China, one of the biggest U.S. trading partners, axed 12,000 metric tons of U.S. pork orders, the data from the U.S. Department of Agriculture (USDA) shows. The move represents the biggest cancellation of pork …