Trump is attempting little less than a revolution in the global economy by reasserting American economic independence no matter the risks or pain. He sees trade deficits as inherently bad—and America’s deficit in goods traded with the world totaled $1.2 trillion last year. When Americans buy foreign products, some of the dollars they spend cycle … Read More
Union leaders representing auto workers across Ontario are condemning the stand taken by their American counterparts in support of U.S. President Donald Trump’s tariffs on the vehicle industry, which have already led to layoffs in the sector. The United Auto Workers union has, for months, strongly supported Mr. Trump’s tariff plan, arguing that it will … Read More
CEO Tony Spring thinks the chain has a hidden asset that it can use to protect its business against the impact of tariffs. Because Macy’s owns its private label brands, it has flexibility as to where to produce them and making them in America would avoid the tariffs. “Our private label penetration is down now … Read More
According to a Wall Street Journal report, BMW said that it will cover the inflated costs from the Trump administration’s tariffs on its cars made in Mexico, until at least May. Other companies are giving customers a window of reprieve to buy without fear of higher prices. Hyundai moved to reassure customers that it would … Read More
“It’s good and bad,” said Manu Logai with a shrug. The 59-year-old longshoreman with 30 years on the job has lived through enough economic upheaval to become almost immune to the latest market jolts. “If you want to make a statement to the world, then you’ve got to do something to show them that you … Read More
Beer brewers, steel and aluminum companies, shrimpers, and construction and heavy machine manufacturers all stand to benefit. Each of those industries has been hurt by a flood of cheap imports and is eager for more tariffs to raise prices on overseas competitors. Shrimpers and shrimp associations hailed the tariffs as a critical lifeline for an … Read More
Walmart Inc. is continuing to push Chinese suppliers to cut prices to offset President Donald Trump’s tariffs, even after Beijing officials summoned the US retailer’s executives last month to discuss the issue, according to people familiar with the matter. The world’s largest retailer has not backed down from its requests to suppliers to cut prices … Read More
Swedish-owned IKEA closed a Danville, Virginia factory in December 2019 and moved it to Europe. That looks now to be a bad decision. Just 10% of IKEA products sold in the United States are manufactured in the region, making the world’s largest furniture retailer (arguably) the world’s most vulnerable company to Donald Trump’s “Liberation Day” … Read More
“With current times, made in America is getting stronger,” said Mark Andol, owner of the Made in America Store in Elma. “I think made in America is getting important to people. They’ve got to look at what they’re buying.” As the president of General Welding and Fabricating, which is across the street from his store, … Read More
Israel has cancelled all of the customs duties – tariffs – that have been levied until now on products from the US, Israel’s largest trading partner. After the approval of the Knesset Finance Committee and the Economy and Industry Minister’s signature on the order, the amendment to the order regarding trade levies and protective measure … Read More
