Overall, these tariffs help stimulate the economy. If the foreign competition has more barriers of entry, it lends itself nicely to increase domestic manufacturing which in turn creates more jobs and reduces our trade deficit. New Balance, a company that prides itself on manufacturing in the U.S., completed a $65 million expansion to its Skowhegan … Read More
President Donald Trump on Tuesday announced an agreement with Pfizer to voluntarily sell its medications for less, as his administration pushes to link U.S. drug prices to cheaper ones abroad. Pfizer has agreed to take measures to reduce U.S. drug prices, including selling its existing drugs to Medicaid patients at the lowest price offered in … Read More
Japan’s export volume to the U.S. has fallen to the weakest level since 2021 while its overall exports remain above the 2024 average, Marcel Thieliant, head of Asia-Pacific at Capital Economics, said in a note on Thursday, citing recent data from the Bank of Japan. “What is becoming increasingly clear, though, is that firms are … Read More
The 100% tariff on branded pharmaceuticals that will go into effect on Oct. 1 sounds dramatic. Especially at a time when middle-class complaints about drug prices are a salient political issue and Trump is promising to bring them down. But the new tariff contains a big carveout for any firm with US manufacturing facilities and … Read More
The United States is widening the reach of its trade blacklist, making it harder for subsidiaries and affiliates of certain companies to access American products — a move set to hit Chinese businesses, among others. The Department of Commerce’s notice said the latest shift aims to “address diversion concerns,” such as the formation of new … Read More
Halloween is a month away, yet retailers have had their merchandise out since late August with the hopes that consumers buy early. The National Retail Federation (NRF) found 49% of consumers started their shopping earlier than normal. When all the receipts are tabulated, the trade group predicts consumers will spend $13.1 billion this year on … Read More
Ford just reported its best month ever for electric vehicle sales. In August, the automaker sold 10,671 EVs across its lineup, a 19% increase over the same month last year. Most of that growth came from the Mustang Mach-E, which sold 7,226 units — up more than 35% year-over-year and the highest monthly total since … Read More
Manufacturing and its role in the United States is top of mind for companies as they look to strengthen their supply chains and operations while navigating the Trump administration’s business and trade policies, key among them tariffs. Companies have poured billions of dollars into fortifying their U.S. footprint or securing deals with partners that have … Read More
Days ahead of a meeting between its leader, President Recep Tayyip Erdogan, and President Donald Trump, Turkey has removed tariffs on some American-made automobiles, agricultural products, chemicals, fuels and alcoholic beverages. The tariffs in question were put in place in 2018, during Trump’s first term in office, as retaliation for duties levied on Turkey. Now, … Read More
U.S. business activity slowed for a second straight month in September, and though firms complained about tariffs increasing costs they were not raising prices for their goods and services, which bodes well for the inflation outlook. The survey from S&P Global on Tuesday suggested that businesses were absorbing most of the import duties and supported … Read More
