Cardone believes that rules of supply and demand will counteract the possible price hikes that could come from tariffs. “At the end of the day, supply and demand is controlled by the consumer,” he told GOBankingRates. “As long as there’s enough supply and there’s enough demand, the appropriate price will be set, and the tariff … Read More

The takeaway from the roughly 90 minute hearing titled “Rebuilding the Arsenal of Democracy” was that the government needed long term contracts and more money to build up defense systems because, based on war games conducted by the Center for Strategic and International Studies, the U.S. struggled to hold its own. The main reason was … Read More

Mexico is planning to carry out a “cleaning” operation across the country to combat the flow of illegal merchandise entering the country mainly from China, according to the Economy Ministry. “The searches will help determine the size of these illegal flows of goods entering the country,” said Luis Enrique Vazquez, technical secretary for the ministry’s … Read More

Some lawmakers, like outgoing Sen. Sherrod Brown, D-Ohio, have long said such tariffs were necessary to compete with Chinese-made products. The Chinese government has been known to skirt international trade rules by heavily subsidizing certain industries, allowing companies to produce goods at below-market prices. “If those jobs go to China, the jobs are going to … Read More

“We seem to err more on what I would call a checkbook strategy,” she told the Financial Times in an interview published Thursday, highlighting that last time the EU’s strategy was “not to retaliate, but to negotiate.” Lagarde repeated earlier warnings on the negative effects of a full-blown trade war and said that “we could … Read More

President Xi has no right to pretend that his country is the flag bearer of free trade. China has distorted the free trade system through preferential treatment for state-owned enterprises, non-transparent industrial subsidies, and economic coercion against other countries. All of these are for China’s own political and economic gain. Turning a blind eye to … Read More

Although both administrations (Biden and Trump) faced criticism for driving up costs through tariffs and industrial policy, global events were primarily behind rising prices. Trade involves sacrifices to achieve gains. Cheaper consumer goods might lead to fewer domestic jobs or lower wages in certain industries. Increased imports can mean a reduction in local manufacturing. Running … Read More

Swati Dhingra, an external member of the Bank’s rate-setting monetary policy committee, said Trump imposing a threatened 60% tariff on goods from China sold in the US could lead Chinese exporters to cut their prices elsewhere to ensure they maintained current trade volumes. “If there is the kind of big 60% type of tariff increase … Read More

Under President Biden, the trade war with China not only persisted but intensified. Key figures within his administration, such as US Trade Representative Katherine Tai, framed US-China relations in terms of protecting American industries and workers from China’s expansionist ambitions. Biden’s policies exceeded Trump’s tariffs, imposing restrictions on technology exports, especially in critical areas like … Read More

Walmart boosted its outlook for the year on a solid start to the holiday season and strong demand from US consumers searching for value. Walmart shoppers spent more in each checkout, on average. Most of that growth was driven by consumers from upper-income households, or those earning $100,000 or more per year. That cohort made … Read More