Did President Donald Trump outfox the world with his tariff plan? Maybe, according to Torsten Sløk, the chief economist at Apollo Global Management. On Saturday, Sløk published a blog post titled “Has Trump Outsmarted Everyone On Tariffs?” In it, he explains a possible scenario in which Trump keeps tariffs below his highest threatened rates just … Read More
Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that thus far the surge in tariffs has had a more modest impact on the economy relative to what was expected. “Somewhat surprisingly, thus far, the impact of tariffs has not been what people feared,” Goolsbee said in public comments before the Milwaukee Business … Read More
The European Union on Friday banned Chinese firms from government medical device purchases worth more than five million euros ($5.8 million) in retaliation for limits Beijing places on access to its own market. The latest salvo in trade tensions between the 27-nation bloc and China covers a wide range of healthcare supplies, from surgical masks … Read More
The study identifies three broad personas: value-first shoppers, buy-American advocates, and the indifferent middle consumer. Nearly 4 in 10 consumers surveyed (39%) identify as value-first shoppers. These consumers are focused on price. They’re trading down, cutting nonessentials, and swapping name brands for generics. For them, tariffs are a cost burden, and that’s the end of … Read More
The Canadian Steel Producers Association and United Steelworkers Union are panning Prime Minister Mark Carney’s response to U.S. President Donald Trump’s punishing tariffs. Their response came hours after Carney announced a tariff countermeasure plan Thursday that includes retaliation against Trump’s steel and aluminum tariffs a month from now — depending on how much progress the … Read More
U.S. Senator Mike Rounds (R-S.D.) today reintroduced the USA Beef Act, legislation to limit the use of the “Product of USA” label only to beef products that are born, raised and slaughtered in the United States. The legislation would also codify the U.S. Department of Agriculture’s (USDA) rule addressing the same issue. In March 2023, … Read More
The CBO projects that 2025 tariffs will reduce the U.S. budget deficit by $2.8 trillion over 10 years. Tariffs will save $500 billion in interest payments by lowering federal borrowing needs. Inflation will rise just 0.4 percentage points annually in 2025–2026, despite sweeping new tariffs. $81.4 billion in tariff revenue has already been collected this … Read More
Taiwan has promised to buy more American goods after Trump threatened the island nation with a 32 percent tariff. Taiwan’s president Lai Ching-te said last month that the country would buy more American natural gas and oil, weapons and agricultural goods. The self-governing island is looking to form closer ties with the US as it … Read More
The tariff debate has tended to live in the realm of abstraction for people in the Acela Corridor. But for those of us desperately fighting to preserve generational American manufacturing businesses, the effects are anything but theoretical. My family has been in the tool-making business in West Virginia for more than 170 years. But the … Read More
The inefficiency on display at Shaanxi Qinyang Changsheng Brewing Co. — a firm that hasn’t turned a profit since 2020 — might seem like an anomaly in a country where robots are replacing manual labor. But it’s a scene replicated across the nation, as company owners and local officials go to great lengths to protect … Read More
