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, the U.S. faces widespread agricultural trade deficits across all other products. The U.S. meat/seafood trade deficit has reached $19.5 billion. The U.S. fruit trade deficit … Read More

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 United States and 43,000 permanent jobs once they’re in operation. But the government subsidies behind the expected chip manufacturing boom mean that each job created … Read More

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 review and audit that paperwork before collecting any duties, penalties and fees, according to the Congressional Research Service. Those funds are deposited into the U.S. … Read More

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 variations. Tariffs in advanced economies — and especially in the U.S. — only matter, they argue, to the extent that they affect the prices of … Read More

“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 minister said he will seek a closer relationship with the US, highlighting the Arctic island’s push for independence amid renewed interest from Donald Trump. “We … Read More

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 takes office. The incoming president is “a negotiator, he lays out some very tough things and sometimes it works,” Dimon said. “We have to worry … Read More

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, Mexico, Poland, and Ukraine. This shutdown of production follows similar shutdowns by Liberty Steel last year in Peoria, Illinois, and Georgetown, South Carolina, underscoring a … Read More

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 processes, there is an advantage of technological leadership and that cannot be replaced, and so the impact will be small,” he added. Taiwan will also … Read More

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,” he said in the interview. “But there probably will be cases where prices will go up for consumers.” Read the article.

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 Los Angeles, machines now squeeze as many as 1.6 million pounds of the fruit with hardly any human help. The facility, larger than the average … Read More