Reuters is reporting that Kraft Heinz, maker of ketchup and Kool-Aid and Philadelphia cream cheese, is planning to invest $3 billion to upgrade its U.S. factories to help lower costs, partly due to tariffs. Kraft Heinz has 30 plants here, and grows its tomatoes in California and its potatoes in Idaho. In fact, Anderson said … Read More
The CPI report will likely bolster the administration’s claims that grim forecasts for the economy have been overblown. Most polls have Trump’s approval rating underwater as voters sour on his economic policies. The report will also amplify Trump’s calls for Federal Reserve Chair Jerome Powell to lower interest rates. Powell and other Fed policymakers have … Read More
Prices climbed at an unexpectedly slow pace last month, offering a boost to President Donald Trump, whose aggressive trade policies have sparked fears of a resurgence in inflation. The Labor Department on Tuesday reported that prices rose at an annual rate of 2.3 percent, the smallest increase since early 2021. While price growth in so-called … Read More
U.S. levies on Chinese goods will drop from at least 145% to a base levy of 30% for an initial period of 90 days, while Chinese levies are set to fall from at least 125% to 10% on U.S. goods. Vice Premier He described the atmosphere of the meeting as “candid, in-depth, and constructive” after … Read More
Customs duties totaled $16.3 billion for the month, some 86% above the $8.75 billion collected during March and more than double the $7.1 billion a year ago, the Treasury Department reported Monday. That brought the year-to-date total for the duties up to $63.3 billion and more than 18% ahead of the same period in 2024. … Read More
Among the main drivers of Beijing’s climb-down were internal signals that Chinese companies were struggling to avoid bankruptcies and to replace the U.S. market, three people familiar with the Chinese government’s thinking said. Some areas feeling immediate impact were furniture and toy makers, as well as textiles, said one of the officials. U.S. diplomats in … Read More
My business, my tiny team, and my family’s livelihood are all on the edge of collapse if I don’t do something in response to the tariffs. Like any problem-solving small-business owner would, I’ve found a solution: bring my manufacturing here to the USA, just as the administration wants. This is a bold move to not … Read More
The first shipping containers carrying Chinese products that are subject to President Donald Trump’s 145% tariffs have begun arriving in U.S. ports. Seven ships carrying upward of 12,000 containers that sailed from China after those tariffs took effect have arrived at the ports of Los Angeles and Long Beach, in California. Five more such ships … Read More
The arrangement keeps in place a 10% baseline tariff, according to people familiar with it, who spoke on condition of anonymity to discuss the terms. The 10% level is seen by administration officials as a minimum floor on trading partners, essential to raising revenue in the US and deterring trade cheating. In an earlier speech … Read More
Tariff reciprocity was always a terrible idea. India, home to 607 million workers making around $550 per month in mid-level manufacturing jobs, would happily replace American steel workers and high-paid pharmaceutical lab workers in a zero-for-zero trade deal. A top paid laboratory technician in India makes about $35,000 a year. That’s a small fortune in … Read More
