Trump has signed an executive order that triples the previously announced tariff rates on low-value packages exported to the U.S. from China via the international postal system. Trump set the initial tariff rate on packages worth less than $800 at 30% of the shipment’s value or $25, effective on May 2. The new rate will … Read More
Vietnam will buy more American goods, including defence and security products, and has asked for a 45-day delay in the imposition of U.S. tariffs, Prime Minister Pham Minh Chinh said in a statement issued late on Monday. Hanoi will also seek faster deliveries of commercial planes that Vietnamese airlines have ordered from the U.S., Chinh … Read More
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
