U.S. Faces Record Agricultural Imports, Worst Trade Deficit In History
The United States is now on pace to reach a $39 billion agricultural trade deficit in 2024 amid all-time record imports. Despite a steady trade surplus in grains and oilseeds,…
Biden’s big semiconductor law will ramp up US chip production — but at a high cost
Researchers at the Peterson Institute for International Economics calculated that the $280 billion CHIPS and Science Act will create about 93,000 construction jobs as chip factories go up in the…
Trump announces new ‘External Revenue Service’ to collect tariff funds
The government collected about $80 billion in tariffs and duties in 2023, according to a White House estimate. Importers self-classify and declare the value of their goods, and CBP officials…
What If Trump Is Right About Tariffs?
Economists take a one-dimensional view of tariffs, ignoring both complexity and historical specificity. “For many economists,” he contended, “tariffs have become an ideological litmus test with little acknowledgment of these…
Greenland Is Ready to Cooperate With Trump, Premier Says
“We have the doors open in relation to mining,” he said. “This will also be the case in the coming years. We have to trade with the US.” Greenland’s prime…
Jamie Dimon: Trump Tariffs Could Prevent Unfair Competition
In the right circumstances, they can help with issues like national security and unfair competition, JPMorganChase CEO Jamie Dimon said Sunday (Jan. 12), eight days before pro-tariff President-elect Donald Trump…
Surging Imports And Policy Failures Force U.S. Steel Plant To Halt Production Of Key Product
Nucor Corporation has announced it will halt production at its wire rod rolling mill in Connecticut, citing challenging market conditions created by a flood of low-priced imports from Canada, Greece,…
Taiwan expects small impact from Trump tariffs on chip exports
Asked at a news conference about the impact on Taiwan’s export orders of Trump’s tariffs, Kuo said it would not much affect the chip sector. “For our semiconductors and advanced…
Tariffs, inflation, and retailers: How Trump’s potential tariffs could hit your wallet
Walmart Chief Financial Officer John David Rainey said the retailer may have to raise prices on some items if Trump’s proposed tariffs take effect. “Our model is everyday low prices,”…
Chick-fil-A’s Lemon-Squeezing Robots Are Saving 10,000 Hours of Work
Squeezing 2,000 lemons a day was such a pain for staff at Chick-fil-A Inc. that the company enlisted an army of robots to do it. In a plant north of…