Manufacturing’s true economic footprint is much larger than GDP and employment share statistics suggest, with total output accounting for up to 35% of GDP in 2015. Manufacturing supports millions of jobs indirectly. Strong synergies exist between manufacturing and innovation, with manufacturing driving 60% of U.S. R&D and fostering technological advancements that benefit the entire economy. … Read More
Mexico raised tariffs of up to 210% on sugar imports from countries with which it doesn’t have a trade deal, part of a plan to protect the domestic industry from falling prices. The measure, which takes effect on Tuesday, includes tariffs of 156% and 210% on cane sugar, refined liquid sugar, beet sugar and syrups, … Read More
While US photographers are no strangers to increasing prices in the wake of new tariffs, Really Right Stuff is a Utah-based company that makes its tripods in the US. A company representative told Digital Camera World that the increase is due to rising inflation and production costs. Read the article.
Most of the pasta sold in the U.S. is already made here. But imports from Italy made up about 12% of the pasta market, according to Time magazine. If your favorite pasta is imported from Italy, it might be time to stock up before the tariffs go into effect — or find a cheaper alternative. … Read More
One of the 13 Italian pasta companies facing whopping 107% tariffs come January is pleading with the Trump administration to axe its plans – which could force the business to double its prices. An executive with the American branch of Italian pasta giant Rummo told The Post it could only last a month or two … Read More
Beijing officials call China’s current deflationary malaise “involution” — a destructive cycle of intense, self-destroying business competition sparked by excess capacity. According to a Bloomberg News analysis, it feels even more pronounced on the ground. Using data on almost 70 everyday products and services from multiple sources, our analysis showed prices dropped more sharply than … Read More
The National Retail Federation expects Americans to cross a milestone this season, with holiday sales topping $1 trillion for the first time. In the new forecast, the trade association projects that November to December sales will rise between 3.7% and 4.2% from last year, reaching $1.01 trillion to $1.02 trillion. Executives underscored the outsized role … Read More
China’s exports contracted in October, dropping 1.1% from a year earlier, as global demand failed to offset the slump in shipments to the US. Shipments to all nations except the US rose 3.1%, but this was not enough to compensate for the more than 25% decline to America. Chinese exports to the US tumbled 25% … Read More
Executives of steel maker Nucor Corp. have dropped their plan to build a rebar micro mill in the Pacific Northwest because they think some of the company’s other recent investments have given them enough capacity to supply clients in the Western United States. The Nucor team spent nearly $3.2 billion on capital projects last year—which … Read More
The US and South Korea have reached a broad trade deal, both countries have said following talks between their leaders. South Korea’s presidential aide, Kim Yong-beom, said the two sides will reduce reciprocal tariffs from 25% to 15%, as was agreed earlier this year. South Korea will also invest $350bn (£265bn) in the US, including … Read More
