Earlier, Hyundai Steel disclosed on the 16th that it will invest $1.46 billion (about 2.15 trillion won) in a U.S. electric arc furnace steel mill specialized in automotive steel sheets. Aside from the equity stake, the other details are the same as those disclosed in March. The total investment is about $5.8 billion, half funded … Read More
For decades, Arctic Snowplows has sold its Canadian-made galvanized steel products to “anywhere there is snow” across the border in the United States, says company president Mike Schulz. But a year into U.S. President Donald Trump’s trade war, some of those customers have been lost, with buyers unwilling to stomach higher prices forced by U.S. … Read More
Reps. Raja Krishnamoorthi (D-Ill.), Deborah Ross (D-N.C.) and Marc Veasey (D-Texas) on Friday introduced a resolution to scrap the 25 percent tariffs Trump imposed on India over its continued purchases of Russian energy. “Instead of advancing American interests or security, these duties disrupt supply chains, harm American workers and drive up costs for consumers,” Krishnamoorthi said in a statement. “Ending these damaging … Read More
Many are wondering why a developing economy, itself a target of US President Donald Trump’s tariffs, will slap similar tariffs on another developing economy also hit by Trump tariffs? Mexico’s Senate has approved sweeping tariff increases on a broad list of imported products from countries with which Mexico does not have free trade agreements, including … Read More
Many Americans are struggling with rising food prices and high costs for housing, health care, and child care, but there is not a widespread “affordability crisis” in the US. Affordability has been an issue for years, and inflation is still high, but real income growth is positive for most Americans, suggesting that income is rising … Read More
The U.S. trade deficit narrowed unexpectedly in September to the smallest since 2020, delayed government data showed Thursday, with imports rising just slightly as President Donald Trump’s new tariffs set in. The overall trade deficit fell 10.9% to $52.8 billion, the lowest since mid-2020 during the Covid-19 pandemic. This came as exports rose 3.0% to … Read More
The backlash against a China trade shock 2.0 is picking up steam. Mexican lawmakers gave final approval for new tariffs on Asian imports, broadly aligning with US efforts to tighten trade barriers against China, as President Claudia Sheinbaum seeks to protect local industry. Mexico’s Senate voted Wednesday in favor of a bill that imposes tariffs … Read More
Millions of holiday shoppers across America are filling their baskets with pricey video game consoles, likely unaware of a seismic supply-chain shift that’s done away with the familiar “Made in China” label. Instead, for most consoles sold this year — from Sony Group Corp.’s PlayStation, to Xboxes from Microsoft Corp., and this season’s hot-ticket item, … Read More
85% of CEOs believe U.S. tariffs will hurt American business, while nearly 62% believe the direction of the country is on the “wrong track,” according to new research from Stagwell research firm National Research Group. That said, CEOs as a group are more confident in the current state of the economy than the American public. … Read More
French President Emmanuel Macron said he had threatened Beijing with tariffs during his state visit to China if there was no action taken to reduce the country’s ever-widening trade deficit with the European Union. During Macron’s visit earlier in December, he urged China to boost cooperation on “unsustainable” global trade imbalances, geopolitics and the environment. … Read More
