tariffs

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Billionaire's Plan to Create 1M US Jobs Killed by Trade War

Jack Ma of Alibaba says 'this promise can't be completed'

(Newser) - Take your pick as to which of these statements from Alibaba founder Jack Ma is gloomier: He's going back on his pledge to create 1 million US jobs , and the US-China trade war that he blames for that plan's undoing is one that he believes could last two...

Amid Tariff Hikes, Beijing Appeals for Free Trade

'It is essential that we uphold the basic principles of multilateralism and free trade'

(Newser) - China's No. 2 leader appealed Wednesday for support for free trade and promised to improve conditions for foreign companies following tit-for-tat US and Chinese tariff hikes in an escalating battle over Beijing's technology policy. Premier Li Keqiang's comments add to Beijing's effort to portray itself as...

Trump Fires Another Shot in China Trade War

He slaps tariffs on another $200B in goods

(Newser) - The Trump administration will impose tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world's two biggest economies and potentially raising prices on goods ranging from handbags to bicycle tires. The tariffs will start at 10%, beginning Monday of next week,...

Trump's Trade War Hits the Lobster Business

Layoffs and lagging prices damage the industry

(Newser) - The American lobster industry is starting to feel the pinch of China's tariff on US seafood as exporters and dealers cope with sagging prices, new financial pressures, and difficulty sending lobsters overseas, the AP reports. China is a major buyer of lobsters, and it imposed a heavy tariff on...

China Has Stopped Accepting Applications From US Firms

Business group says it is retaliation for tariffs

(Newser) - Amid a worsening tariff battle, China is putting off accepting license applications from American companies in financial services and other industries until Washington makes progress toward a settlement, a business group says. The disclosure Tuesday is the first public confirmation of US companies' fears that their operations in China or...

Ford: Trump Is Wrong About Impact of Tariffs

'This car can now be BUILT IN THE USA,' he said

(Newser) - Ford says it isn't going to shift production of the Focus Active from China to the US, despite President Trump's thoughts on the matter. Trump boasted in a tweet Sunday that new tariffs on Chinese imports had forced the automaker to abandon plans to sell the Chinese-made Focus...

July Held Bad News for US Trade Deficit

It increased $4.4B, set records in dealings with China and EU

(Newser) - The US trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China and the European Union set records, reports the AP . The Commerce Department said Wednesday that the deficit in goods and...

US to Start Paying Farmers $4.7B for Trade War Losses

Soybean growers will get the most relief

(Newser) - Starting next week, farmers who have taken a financial hit because of trade disputes between the US and other countries can apply for government assistance. The White House will dole out $4.7 billion in direct aid to help make up for their reduced profits, reports Bloomberg . Most of that,...

US-China Trade War Hits New Low
US-China Trade War
Hits New Low 
Aug 23, 2018 8:15 AM CDT

US-China Trade War Hits New Low

China releases video mocking US bacon, bourbon as billions in tariff hikes go into effect Thursday

(Newser) - The United States and China went ahead with tariff hikes on billions of dollars of each other's automobiles, factory machinery, and other goods Thursday in an escalation of a battle over Beijing's technology policy that companies worry will chill global economic growth. The increases came as envoys met...

Turkey Escalates Feud With US Via Tariffs

But the move is unlikely to have a big economic impact

(Newser) - Turkey said Wednesday it is increasing tariffs on some US products like cars, alcohol, and coal—a move that is unlikely to have much economic impact but highlights the deteriorating relations with the US in a feud that has already helped trigger a currency crisis. The Turkish government said tariffs...

US Ship Sailed in Circles for a Month Over Tariffs

The Peak Pegasus may finally be able to rest its wings

(Newser) - A soybean-laden US cargo shipped that was cheered on as it sped from Seattle to Dalian, China, in hopes of arriving before a 25% tariff went into effect on July 6 didn't just not make it. The Peak Pegasus spent a month sailing in circles while still carrying its...

SC Company Laying Off All but 8 Workers Over Tariffs

Element Electronics says it's trying to get the products off the list

(Newser) - As the China-US tariff volley continues—China on Wednesday announced a 25% tariff on an additional $16 billion worth of US goods in retaliation for our similar move, reports CNBC —the consequences have become real for one South Carolina company. The State reports TV-maker Element Electronics is citing the...

In Game of Chicken, China Announces $60B Tariff Plan

Warns US to expect countermeasure if US follows through with trade threat

(Newser) - As Trump administration officials mull a possible 25% tariff on $200 billion of Chinese goods—up from the original 10% tariff being bandied about—China is taking its own steps in the newest round of trade threats. Bloomberg and CNBC report on joint statements from China's Ministry of Finance...

Our $200B Threat Against China May Get Bigger

Bloomberg reports White House is considering an additional 25% tariff, not 10%

(Newser) - The US in early July hit $34 billion of Chinese goods with an extra 25% tariff; China responded in kind. CNN reports round two could see the US slap tariffs on another $16 billion in goods as soon as this week, but it's a much bigger figure that's...

GOP Senator on Latest Trump Threat: &#39;Let&#39;s Hope Not&#39;
GOP Senator
on Latest
Trump Threat:
'Let's Hope Not'
sunday talk shows
Jul 29, 2018 12:05 PM CDT

GOP Senator on Latest Trump Threat: 'Let's Hope Not'

Ron Johnson pushes back over possible government shutdown

(Newser) - With President Trump tweeting about a possible government shutdown, Republican Sen. Ron Johnson appeared Sunday on CBS's Face the Nation with a little pushback: "I certainly don't like playing shutdown politics," he says, per the Hill . "I don't think it'd be helpful, so...

Trump&#39;s Tariffs Mean Pricier Coke
Trump's Tariffs
Mean Pricier Coke
Jul 26, 2018 8:21 AM CDT

Trump's Tariffs Mean Pricier Coke

Hit on aluminum imports is one factor

(Newser) - President Trump's favored Diet Cokes will be climbing in price as a result of recently imposed tariffs. Coca-Cola says it's raising prices for several reasons, including new tariffs on aluminum imports. "We had to take with our bottling partners an increase [in prices] on our sparkling beverage...

Trump&#39;s Next Target: Auto Imports
Trump's Next Target:
Auto Imports
Jul 19, 2018 12:43 AM CDT

Trump's Next Target: Auto Imports

They may be labeled a security threat

(Newser) - Having tangled with China on trade and angered US allies with steel tariffs, President Trump is primed for his next fight: autos. Trump's latest plan is to consider slapping tariffs on imported autos and auto parts—a move he says would aid American workers but that could inflate car...

US Just Ramped Up Trade War With China

White House announces another $200B in products to be hit with tariffs

(Newser) - The US-China trade war is here—and it's escalating rapidly. US authorities rolled out a list Tuesday of some $200 billion in Chinese goods that could be hit with 10% tariffs by September, Deutsche Welle reports. The list of more than 6,000 product lines includes food products and...

Trump&#39;s Tariffs Hit China
Trump's Tariffs Hit China,
China Fires Back
UPDATED
Jul 6, 2018 12:00 AM CDT

Trump's Tariffs Hit China, China Fires Back

But Asian markets weren't rattled by the tit-for-tat

(Newser) - The United States hiked tariffs on Chinese imports Friday and Beijing announced it was retaliating against American goods in a technology dispute between the world's two biggest economies that President Trump says he is prepared to escalate. Washington imposed 25% tariffs on $34 billion worth of Chinese imports, a...

China Slams US 'Blackmail' as Tariffs Loom

Beijing says it won't 'bow in the face of threats'

(Newser) - China rejected "threats and blackmail" ahead of a threatened US tariff hike , striking a defiant stance Thursday in a dispute companies worry could flare into a full-blown trade war and chill the global economy. A government spokesman says Beijing will defend itself if President Trump goes ahead Friday with...

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