The US will begin imposing tariffs of more than 20% on most imports of tomatoes from Mexico, citing “unfairly priced” shipments from the country. A current trade agreement with Mexico for tomatoes failed to protect US growers, the Department of Commerce said in a statement released Monday. It slapped a 20.91% anti-dumping duty on most … Read More
Hyundai Motor Co.’s top executive expects car prices to remain relatively steady over the coming months despite added costs from the escalating global trade war, as automakers try to maintain stability and keep customers coming to dealer lots. “I don’t expect to see a huge increase overnight,” Chief Executive Officer José Muñoz said Tuesday in … Read More
Canadian Prime Minister Mark Carney said his government will allow automakers to import US-manufactured cars and trucks without tariffs, as long as the companies keep making vehicles in Canada. The move provides some relief from the trade war to companies including General Motors Co. and Stellantis NV that have assembly plants in Ontario but still … Read More
Ford, GM, and Stellantis have conceded they’re willing to pay tariffs on completed cars and large components like engines and transmissions, according to people familiar with the matter. Detroit’s Big Three automakers for weeks have lobbied the Trump administration to exclude certain low-cost car components from planned tariffs. Read the article.
Trump’s 145% tariffs on China’s goods are threatening to obliterate its access to the world’s biggest economy, with Goldman Sachs Group Inc. estimating that up to 20 million people — or about 3% of the labor force — may be exposed to US-bound exports. A full economic divorce would roil a workforce already drained by … Read More
After a chaotic week of flip-flopping tariff policies, cheap clothes from China are nearly certain to face a steep price hike soon – prompting concern among fast fashion retailers and potentially pushing consumers to look for other alternatives. As part of a package of global tariff policies announced on “liberation day” last week, Donald Trump … Read More
Ironically, Democrats now find themselves defending the interests of Wall Street and global corporations, which are the primary drivers of U.S. imports. According to Census data, large corporations account for 85% of all manufacturing imports. According to the Bureau of Economic Analysis, the U.S. exported $175.97 billion in agricultural commodities last year and imported $214.14 … Read More
Rick Woldenberg thought he had come up with a sure-fire plan to protect his Chicago-area educational toy company from President Donald Trump’s massive new taxes on Chinese imports. “When he announced a 20% tariff, I made a plan to survive 40%, and I thought I was being very clever,” said Woldenberg, CEO of Learning Resources, … Read More
While other Asian grain importers do not expect retaliation for the U.S. tariffs, limited vessel availability and trade war uncertainty are weighing on purchases, traders said. Traditional U.S. wheat buyers such as Japan and South Korea are expected to continue buying U.S. cargoes, but they may buy corn and soybeans from alternative suppliers in South … Read More
Last year, the U.S. recorded a $1.2 trillion deficit, its largest ever, despite historic tariffs on China. That’s because importers sourced from Mexico and Southeast Asia. Vietnam has become an outpost for Chinese multinationals and contract manufacturers who could manufacture there and ship to the U.S. at WTO-member tariff rates of 3.4%, the lowest of … Read More
