The European Union has dropped a planned 50% retaliatory tariff on American whiskey as it’s proposing 25% tariffs on a selection of US goods in retaliation for President Donald Trump’s decision last month to put levies on aluminum and steel imports. Several member states had pushed for whiskey to be excluded in an effort to … Read More
Subway sources some produce like bell peppers from Canada, which has been hit with a 25% tariff. The sandwich chain also sources produce from Mexico and Guatemala, which have been hit with 25% and 10% tariffs respectively. Wendy’s sources beef from within the United States, but uses palm oil both domestically and internationally. Palm oil … Read More
Dining room chairs from Vietnam. Patio recliners from China. Rugs from India. A City Furniture showroom is a global marketplace of imports. Koenig does not anticipate passing along his higher costs to his shoppers. But he doesn’t think they’ll be spared, either. “It’s very disruptive. The customer is going to take a bit of a … Read More
In a move that signals more headaches for the auto industry, the company is halting vehicle deliveries to the United States, effective immediately. The decision comes as a direct response to the Trump administration’s freshly minted 25% import tariff. For now, Audi dealers have about two months’ worth of inventory to work through. After that, … Read More
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
“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
