Europe must buy American goods if it wants to prevent a trade war with America, Italian Foreign Minister Antonio Tajani said today, ANSA news agency reported, quoted by BTA. If the EU wants to avoid a trade war with Donald Trump, it must buy more from the US, increase defense budgets and reduce regulations to … Read More
Volkswagen Group is reportedly considering some production changes. German publication Handelsblatt cites anonymous sources familiar with the situation as saying Porsche and Audi could send at least some production to the US. There’s no mention of specific models or a timeframe for when this could happen, but the report points out the new Scout Motors … Read More
Jim Barber, of toy maker Luke’s Toy Factory, said that he is contacted “every couple of months” by businesses wanting to move their manufacturing back to the United States. “There are plenty of people that can do these things,” said Barber, whose company is named after his son Luke. Hundreds of thousands of textile jobs … Read More
After 25 years of offshore outsourcing, America has a more limited manufacturing footprint, both in terms of facilities and expertise. In the immediate wake of proposed tariffs, demand for these facilities will likely outpace supply, making first-mover advantage a very real benefit. In addition, many of the goods produced overseas have been manufactured there for … Read More
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
