Tag Archives: tariffs

White House gets report that could trigger auto tariffs

White House gets report that could trigger auto tariffsThe White House received Monday a Commerce Department report on the auto industry that could trigger tariffs against imported cars and intensify tensions with Europe. German Chancellor Angela Merkel has labeled as “frightening” the prospect that European car imports could be declared a national security threat to the United States. Two people familiar with the matter earlier told AFP that the Commerce Department report has concluded that auto imports pose such a threat.



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G20 summit: World leaders reluctantly bow to Trump on trade amid showdown between US and China over tariffs

G20 summit: World leaders reluctantly bow to Trump on trade amid showdown between US and China over tariffsAfter hours of tense negotiation, world leaders of the G20 have signed off on a summit-ending agreement reaffirming a commitment to multilateral trade and a “rules-based international order” – but the real winner may yet be Donald Trump. The message involved a pledge to reform the World Trade Organisation (WTO), with Mr Trump having built his campaign for the presidency on the idea that America was being treated unfairly on trade issues. The EU, and its individual members, had been looking to put pressure on Mr Trump over the issue, given his ‘America First’ doctrine, but officials said they had felt resistance from Washington on almost every issue.



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Caterpillar profits up, says demand offsets tariffs hit

Caterpillar profits up, says demand offsets tariffs hitCaterpillar reported a jump in third-quarter earnings behind robust industrial demand and lower taxes on Tuesday and said strong economic conditions would more than offset the hit from tariffs. Sales rose in all three businesses of Caterpillar, which manufactures industrial equipment for the construction, resources and energy and transportation industries. Executives gave an upbeat appraisal of conditions in China, where the company derives about five to 10 percent of annual company sales.



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In a U.S. manufacturing hub, no illusions about tariffs and jobs

In a U.S. manufacturing hub, no illusions about tariffs and jobs(This September 26 story corrects glass factory location in paragraph 12) By Howard Schneider THOMASVILLE, N.C. (Reuters) – In a town where a 30-feet tall chair is the chief landmark, and which is synonymous with a U.S. furniture industry decimated over the years by imports from China, many greet the possibility of tariffs on Chinese goods with a shrug. Of three once bustling Thomasville furniture plants in the city limits, one is being demolished and cleared for parkland, another may become the site of a new police station, and a third is being converted into apartments. President Donald Trump is threatening to levy tariffs of up to 25 percent on $ 500 billion of goods imported from China each year, including roughly $ 20 billion of furniture, as a way to bring back hundreds of thousands of manufacturing jobs lost to China and other low-cost competitors.



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Trump hits China with tariffs on another $200 bn in goods

Trump hits China with tariffs on another $  200 bn in goodsUS President Donald Trump on Monday defied warnings and escalated the trade confrontation with China, hitting the country with tariffs starting next week on another $ 200 billion in imports and threatening to target even more if Beijing retaliates. Trump said China had refused to change the unfair practices that hurt US businesses and workers. “For months, we have urged China to change these unfair practices and give fair and reciprocal treatment to American companies,” Trump said in a statement.



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Report: President Trump Moving Forward With His Plans to Impose China Tariffs

Report: President Trump Moving Forward With His Plans to Impose China TariffsBoth sides were preparing to hold new talks on their tariff dispute



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Report: President Trump Moving Forward With His Plans to Impose China Tariffs

Report: President Trump Moving Forward With His Plans to Impose China TariffsBoth sides were preparing to hold new talks on their tariff dispute



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Trump 'likely' to announce new China tariffs as early as Monday

Trump 'likely' to announce new China tariffs as early as MondayThe tariff level will probably be about 10 percent, the Wall Street Journal reported.



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Apple supplier stocks dip as Trump tweets threats over China tariffs

Apple supplier stocks dip as Trump tweets threats over China tariffsDonald Trump has seemingly triggered a drop in the shares of China-based suppliers of Apple Inc after threatening price increases against the tech giant on Twitter. The president claimed “prices may increase” for the world’s most popular smartphone provider thanks to “massive tariffs we may be imposing on China,” in a message calling on Apple to manufacture its products in the US. “Apple prices may increase because of the massive Tariffs we may be imposing on China – but there is an easy solution where there would be ZERO tax, and indeed a tax incentive,” he wrote on Saturday afternoon.



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Factbox: U.S. tech firms bemoan impact of Trump trade tariffs

Factbox: U.S. tech firms bemoan impact of Trump trade tariffsThe following are comments made by U.S. tech companies since Trump’s announcement. ** Apple Inc said a “wide range” of its products including the Apple Watch would be affected by proposed U.S. tariffs on Chinese goods but gave no sign of an impact on its iPhone. Apple said its MacMini, a low-priced computer that comes without a keyboard or mouse, would be affected.



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