Consumers to bear brunt of US tariffs
1 month ago

Consumers to bear brunt of US tariffs

China Daily  

Retailers concerned over prospects of Trump's levy plans, observers say US retailers are creating contingency plans to deal with the prospect of President-elect Donald Trump's proposed tariffs as he heads back to the White House. Under Trump's plan, US citizens could lose between $46 billion and $78 billion in spending power per year on products like clothing, toys, furniture, appliances and travel goods, the National Retail Federation said. Tiffany Smith, vice-president of global trade policy for the National Foreign Trade Council in Washington, DC, told China Daily: "New and expanded tariffs will harm working families." Zichun Huang, a China economist at Capital Economics, a business research group, wrote in a recent note: "Trump's return could create a short-term boost to Chinese exports as US importers increase their purchases to get ahead of the tariffs."

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Americans rush to buy cars, appliances before Trump's new tariffs
4 days, 13 hours ago

Americans rush to buy cars, appliances before Trump's new tariffs

China Daily  

NEW YORK -- Americans are scrambling to stock up on cars, appliances and other big-ticket imports in anticipation of new tariffs from the Donald Trump administration, a spending spree that could reignite the very inflation buyers are hoping to avoid, reported The Washington Post on Thursday. "President-elect Trump has vowed to enact widespread tariffs as soon as he takes office …

US tariffs on China unable to stop China trade growth
Trending News
6 days, 13 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

US tariffs on China unable to stop China trade growth
Trending News
6 days, 13 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

US families to bear brunt of new tariffs
Trending News
1 week ago

US families to bear brunt of new tariffs

China Daily  

Families in the United States could soon have to pay thousands of dollars more for furniture, clothes, cars, electronics and household items imported from China and other key trading partners if US President-elect Donald Trump follows through with a new round of tariffs, according to economists and trade organizations. Mary Lovely, professor emeritus of economics at the Maxwell School of …

Why some concerned shoppers are stockpiling goods
1 week, 1 day ago

Why some concerned shoppers are stockpiling goods

CNN  

New York CNN — It’s not March 2020, but it sure feels a lot like it for Herschel Wilson. “We certainly don’t know if we’re really getting this global tariff thing, and certainly not on day one,” he said, referring to Trump imposing tariffs on all imported goods when he takes office on January 20. For instance, Stanley Black & …

Why some concerned shoppers are stockpiling goods
1 week, 1 day ago

Why some concerned shoppers are stockpiling goods

CNN  

New York CNN — It’s not March 2020, but it sure feels a lot like it for Herschel Wilson. “We certainly don’t know if we’re really getting this global tariff thing, and certainly not on day one,” he said, referring to Trump imposing tariffs on all imported goods when he takes office on January 20. For instance, Stanley Black & …

US manufacturers are stocking up on imports ahead of tariffs
1 week, 4 days ago

US manufacturers are stocking up on imports ahead of tariffs

Live Mint  

U.S. manufacturers are stockpiling imported parts and raw materials in anticipation of President-elect Donald Trump imposing new tariffs next year. U.S. industrial manufacturers and consumer-packaged-goods companies are buying up critical parts and raw materials, such as emulsifiers and flavor enhancers, driving up demand, according to GEP, a supply-chain software company that gathers the data. U.S. businesses are giving priority to …

US hikes tariffs on imports of Chinese solar wafers, polysilicon and tungsten products
1 week, 5 days ago

US hikes tariffs on imports of Chinese solar wafers, polysilicon and tungsten products

Associated Press  

BANGKOK — The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect U.S. clean energy businesses. The notice from the U.S. Trade Representative’s office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% and duties on certain tungsten products will increase to 25%, effective on Jan. 1, following …

Here’s what could get significantly more expensive under Trump’s tariff plan
1 week, 5 days ago

Here’s what could get significantly more expensive under Trump’s tariff plan

CNN  

New York CNN — Import taxes are set to spike under the incoming Trump administration, forcing Americans to pay more for everything from foreign-made sneakers and toys to food, according to new research. “President Trump will work quickly to fix and restore an economy that puts American workers first by re-shoring American jobs, lowering inflation, raising real wages, lowering taxes, …

The possibility of tariffs in Trump's second term is dividing U.S. businesses
1 week, 5 days ago

The possibility of tariffs in Trump's second term is dividing U.S. businesses

NPR  

The possibility of tariffs in Trump's second term is dividing U.S. businesses President-elect Trump has called for sweeping tariffs on all imports. HORSLEY: McClelland is counting on Trump's tariffs to raise the price of those imported aluminum goods and give him and other domestic manufacturers a fighting chance. HORSLEY: Even Mark McClelland, the aluminum manufacturer who's rooting for tariffs, admits …

Trump’s proposed tariffs on China, Mexico, and Canada could benefit India - Report
2 weeks ago

Trump’s proposed tariffs on China, Mexico, and Canada could benefit India - Report

Live Mint  

New Delhi, December 10 : India has a significant opportunity to capitalize on export prospects resulting from expected trade disruptions by upcoming US President Donald Trump's tariff policies, says a report by Shriram Mutual Fund. The report outlined how Trump's proposed tariffs on top US import partners--China, Mexico, and Canada--could lead to trade diversion, benefiting countries like India. It said, …

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners
2 weeks ago

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners

China Daily  

To those worrying about the uncertainties heralded by a new incoming United States administration and the president-elect's unpredictability, there is one thing at least that is predictable: He will continue wielding the baton of tariffs. Because as the accumulative effects of the tariffs he imposed in his first term and the subsequent ones that the Joe Biden administration has added …

Trump is threatening to raise tariffs again. Here’s how China plans to fight back
2 weeks ago

Trump is threatening to raise tariffs again. Here’s how China plans to fight back

LA Times  

President-elect Donald Trump has threatened to impose new tariffs on Chinese imports when he takes office, a move that would deepen a trade war he started six years ago. Trump kicked off a trade war in 2018 by imposing 25% tariffs on imports from China — including industrial machinery, cars, auto parts and television cameras. Last week, the U.S. expanded …

Trump tariffs to harm growth: Experts
Trending News
2 weeks, 1 day ago

Trump tariffs to harm growth: Experts

China Daily  

The wave of tariff hikes proposed by United States President-elect Donald Trump would harm global livelihood and economic growth, while it can't help resolve the country's domestic economic issues, global experts said. They made the remarks at the 9th China Global Think Tank Innovation Forum held in Beijing on Wednesday, where experts discussed the potential global impact of Trump's return …

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial
2 weeks, 1 day ago

Tariffs bad for business, bad for US firms and consumers, and bad for all trading partners: China Daily editorial

China Daily  

This photo taken on Jan 19, 2023 shows the US Capitol building in Washington, DC, the United States. To those worrying about the uncertainties heralded by a new incoming United States administration and the president-elect's unpredictability, there is one thing at least that is predictable: He will continue wielding the baton of tariffs. On the campaign trail, he told US …

Trump tariffs to harm growth: Experts
Top News
2 weeks, 1 day ago

Trump tariffs to harm growth: Experts

China Daily  

US President-elect Donald Trump The wave of tariff hikes proposed by United States President-elect Donald Trump would harm global livelihood and economic growth, while it can't help resolve the country's domestic economic issues, global experts said. They made the remarks at the 9th China Global Think Tank Innovation Forum held in Beijing on Wednesday, where experts discussed the potential global …

Trump "can't guarantee" his tariffs won't raise prices for American families
Top News
2 weeks, 1 day ago

Trump "can't guarantee" his tariffs won't raise prices for American families

Salon  

President-elect Donald Trump on Sunday said he “can’t guarantee” that American consumers won’t pay higher prices under his proposed tariff plan in an interview on NBC’s “Meet the Press.” “I can’t guarantee anything. I can’t guarantee tomorrow,” Trump told NBC News host Kristen Welker after she asked him whether he could guarantee American families won’t pay more if he chooses …

Trump tariffs to harm growth: Experts
Top News
2 weeks, 1 day ago

Trump tariffs to harm growth: Experts

China Daily  

US President-elect Donald Trump The wave of tariff hikes proposed by United States President-elect Donald Trump would harm global livelihood and economic growth, while it can't help resolve the country's domestic economic issues, global experts said. They made the remarks at the 9th China Global Think Tank Innovation Forum held in Beijing on Wednesday, where experts discussed the potential global …

Donald Trump 'Can't Guarantee' Tariffs Won't Cost Americans More
2 weeks, 1 day ago

Donald Trump 'Can't Guarantee' Tariffs Won't Cost Americans More

Huff Post  

LOADING ERROR LOADING Donald Trump says he can’t guarantee his plan to impose sweeping tariffs on America’s top trade partners won’t hurt people’s pocketbooks. I can’t guarantee tomorrow.” But during his first major interview since November’s election, he told host Kristen Welker he still believed imposing tariffs on goods from China, Canada, Mexico and beyond would “cost Americans nothing,” contrary …

What Items Should You Buy Before Trump's Tariffs Kick In?
2 weeks, 5 days ago

What Items Should You Buy Before Trump's Tariffs Kick In?

Huff Post  

Illustration: Damon Dahlen/HuffPost; Photos: Getty Sharp tariff proposals could cause prices of apparel, toys, furniture, household appliances, footwear and travel goods to spike “significantly” next year, according to the National Retail Federation. Bloomberg via Getty Images “There’s still a lot of uncertainty about what goods might face new tariffs, and even when tariffs are implemented, their impact on consumer prices …

Can Donald Trump enact tariffs without Congress? And can anyone stop him?
3 weeks ago

Can Donald Trump enact tariffs without Congress? And can anyone stop him?

Al Jazeera  

Raising tariffs on US goods may hurt the economy, but can Trump push them through anyway? “While some argue that it would be a stretch for Trump to claim that all imports are a threat to US national security under Section 232, the courts have routinely deferred to presidents on foreign affairs and trade policy, and legal challenges to the …

What to buy now before Trump’s tariffs kick in
3 weeks, 1 day ago

What to buy now before Trump’s tariffs kick in

CNN  

New York CNN — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. But a 10% across-the-board import tariff, plus the additional 60% on Chinese goods, could cause the price of a new smartphone to rise by 26% to …

What to buy now before Trump’s tariffs kick in
3 weeks, 1 day ago

What to buy now before Trump’s tariffs kick in

CNN  

New York CNN — During this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. But a 10% across-the-board import tariff, plus the additional 60% on Chinese goods, could cause the price of a new smartphone to rise by 26% to …

Opinion: Trump promised to raise taxes, but Biden and Congress could tie his hands
3 weeks, 1 day ago

Opinion: Trump promised to raise taxes, but Biden and Congress could tie his hands

LA Times  

Coal is loaded onto a barge near the U.S. Steel Corp. facility in Clairton, Pa. During President-elect Donald Trump’s first term, he enacted tariffs on steel from most countries, which he claimed served national security. Although these tariffs would have significant implications for the federal budget and household finances, there is little to stop Trump from unilaterally enacting these taxes …

Trump's tariffs could cost American families $2,600 more a year
3 weeks, 4 days ago

Trump's tariffs could cost American families $2,600 more a year

Firstpost  

Even as US President-elect Donald Trump has pitched tariffs as the solution to everything, tariffs are most likely going to raise the cost for average American families and reduce their after-tax incomes, according to economists Republican presidential nominee and former US President Donald Trump speaks at the Bitcoin 2024 event in Nashville, Tennessee, US, July 27, 2024. On the campaign …

Trump's Tariffs In His First Term Did Little To Alter Economy — But This Time May Be Different
3 weeks, 5 days ago

Trump's Tariffs In His First Term Did Little To Alter Economy — But This Time May Be Different

Huff Post  

LOADING ERROR LOADING WASHINGTON — Donald Trump loved to use tariffs on foreign goods during his first presidency. Republican presidential nominee former President Donald Trump listens during a campaign rally at Santander Arena, Monday, Nov. 4, 2024, in Reading, Pa. via Associated Press Trump also posted on Monday that Chinese imports would face additional tariffs of 10% until Beijing cracks …

Trump’s tariffs in his first term did little to alter the economy, but this time could be different
Trending News
3 weeks, 5 days ago

Trump’s tariffs in his first term did little to alter the economy, but this time could be different

Associated Press  

WASHINGTON — Donald Trump loved to use tariffs on foreign goods during his first presidency. House Democrats put together legislation to strip a president’s ability to unilaterally apply tariffs this drastic, warning that they would likely lead to higher prices for autos, shoes, housing and groceries. Trump’s first term tariffs had a modest impact on economy Trump imposed tariffs on …

How Trump’s tariffs on Mexico, Canada and China could impact U.S. consumers
3 weeks, 5 days ago

How Trump’s tariffs on Mexico, Canada and China could impact U.S. consumers

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil, toys, vegetables and electronics are just some of the …

Live updates: Latest on Trump presidential transition news
54 years, 11 months ago

Live updates: Latest on Trump presidential transition news

CNN  

Trucks wait to cross to the US next to the border wall at the Otay commercial crossing port in Tijuana, Baja California state, Mexico, on November 26, 2024. Guillermo Arias/AFP/Getty Images Anyone who had any doubt that Donald Trump’s love of tariffs is true should take note of his new promise, for Day 1 of his presidency, to slap products …

Trump's tariff war could cost Americans more than $3,200 a year, experts claim
3 weeks, 6 days ago

Trump's tariff war could cost Americans more than $3,200 a year, experts claim

Daily Mail  

American consumers would bear the brunt of Donald Trump's proposed tariffs, new analysis showed on Tuesday night as the world braced for a new era of U.S. protectionist policies. Trump proposed tariffs including the threats made to China, Mexico and Canada on Monday could lead to an increase in costs for every consumer annually, analysis found But even before the …

Searches of ‘who pays for tariffs’ sees massive spike after Trump’s announcement
3 weeks, 6 days ago

Searches of ‘who pays for tariffs’ sees massive spike after Trump’s announcement

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. During his last administration, Trump issued tariffs on steel and aluminum coming from the …

Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief
3 weeks, 6 days ago

Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief

Associated Press  

DETROIT — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh …

Trump threatens China, Mexico and Canada with new tariffs. But what does this actually mean for American shoppers?
4 weeks ago

Trump threatens China, Mexico and Canada with new tariffs. But what does this actually mean for American shoppers?

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Trump is a fan of tariffs, but economists say they …

Trump tariffs: It’s one of Trump’s most controversial promises. This is how he might carry it out.
54 years, 11 months ago

Trump tariffs: It’s one of Trump’s most controversial promises. This is how he might carry it out.

Slate  

This article was originally featured in Foreign Policy, the magazine of global politics and ideas. But tariffs are also touted by Trump’s trade sherpas, such as former U.S. Trade Representative Robert Lighthizer, as a way to force manufacturing back to the United States by discouraging pricier imports. If tariffs are just a threatened big stick to get better trade terms …

China warns ‘no one will win’ if Donald Trump starts trade war
4 weeks ago

China warns ‘no one will win’ if Donald Trump starts trade war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China shot back at Donald …

Trump To ‘Sharply Increase’ Tariffs On Goods Coming From China, Canada & Mexico
4 weeks ago

Trump To ‘Sharply Increase’ Tariffs On Goods Coming From China, Canada & Mexico

ABP News  

Starting from his first day in office President-elect Donald Trump has promised to raise the tariffs on goods from Mexico, Canada and China. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The President-elect said that China is going to face higher tariffs on its …

Trump: Huge tariffs coming for consumers who buy from China, Mexico and Canada
Trending News
4 weeks ago

Trump: Huge tariffs coming for consumers who buy from China, Mexico and Canada

Raw Story  

Donald Trump wants everyone to know, he's going to make good on his tariff threats on day one. "I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail," wrote Trump. "As everyone is aware, thousands of people are pouring through Mexico and Canada, …

Trump's tariffs may be targeted at others — but they could impact you too
4 weeks ago

Trump's tariffs may be targeted at others — but they could impact you too

NPR  

Trump's tariffs may be targeted at others — but they could impact you too toggle caption Ulises Ruiz/AFP via Getty Images President-elect Donald Trump is threatening to impose steep tariffs on America's biggest trading partners unless they do more to stop the flow of illegal drugs and immigrants. Tariffs may be targeted at others — but Americans would also feel …

Trump’s proposed tariffs could bring higher prices for groceries, cars and clothing
4 weeks ago

Trump’s proposed tariffs could bring higher prices for groceries, cars and clothing

LA Times  

A customer shops for groceries in January in Wheeling, Ill. Prices for consumer goods could rise across the board if new tariffs are imposed once President-elect Donald Trump takes office next year. “If we get tariffs, we will pass those tariff costs back to the consumer,” Phil Daniele, chief executive of AutoZone, said in the company’s most recent earnings call. …

Donald Trump vows to slap 25 per cent tariffs on Mexico, Canada, China
4 weeks ago

Donald Trump vows to slap 25 per cent tariffs on Mexico, Canada, China

New Indian Express  

WASHINGTON: US President-elect Donald Trump said Monday he intends to impose a 25 percent tariff on goods from Mexico and Canada, along with a 10 percent tariff on imports from China in response to the illegal drug trade and immigration. In a series of posts to his Truth Social social media account, Trump vowed to hit some of the United …

Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1
4 weeks, 1 day ago

Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1

CNN  

CNN — President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this …

Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1
4 weeks, 1 day ago

Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1

CNN  

CNN — President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this …

'We’re not immune': Walmart warns price hikes ahead if Trump follows through with plan
1 month ago

'We’re not immune': Walmart warns price hikes ahead if Trump follows through with plan

Raw Story  

Walmart — the world's largest retailer — issued a warning to customers that they may pay more for the same products if President-elect Donald Trump makes good on his promise to impose new tariffs on imports. Walmart's finance chief, John David Rainey, acknowledged that new tariffs would likely be passed on to the people buying goods imported from overseas, Fortune …

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says
1 month ago

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says

Associated Press  

HONG KONG — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter’s question about U.S. President-elect Donald Trump’s plan to impose 60% tariffs on imports from China, Vice Commerce Minister Wang …

Donald Trump likely to impose 40% tariff on China imports in 2025, risking growth by 0.5-1% point: Report
Trending News
1 month ago

Donald Trump likely to impose 40% tariff on China imports in 2025, risking growth by 0.5-1% point: Report

Live Mint  

The US could impose nearly 40 per cent tariffs on imports from China early next year, potentially slicing growth in the world's second-biggest economy by up to one percentage point. However, most economists also said they do not expect blanket 60 per cent tariffs on Chinese goods in early 2025 as this could accelerate inflation within the US. "We expect …

American companies are stocking up to get ahead of Trump’s China tariffs
1 month ago

American companies are stocking up to get ahead of Trump’s China tariffs

Live Mint  

By 9 p.m. on election night, it had become clear to Jason Junod that Donald Trump was returning to the White House. When Trump began his trade war against China in 2018, U.S. businesses scrambled to front-load imports before tariffs were implemented, according to an International Monetary Fund analysis. Though China’s share of U.S. imports has declined to roughly 14% …

Donald Trump may impose 40% tariffs on China in early 2025: Report
1 month ago

Donald Trump may impose 40% tariffs on China in early 2025: Report

India Today  

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to 1 percentage point. The poll, the first on China's economy by Reuters since Donald Trump's sweeping election victory on November 5, also predicts that the President-elect will resist …

Should you make major purchases before Trump's tariffs?
1 month ago

Should you make major purchases before Trump's tariffs?

Salon  

Before Donald Trump became president, tariffs were a topic largely confined to history books. Several retailers affected by the tariffs Trump enacted in his first term have said they would likely raise prices on products if they are expanded in his second. While some tariffs have been in existence long before Trump's presidency, the U.S. enacted new tariffs during his …

Donald Trump’s tariff plans for China, others may cost UK $25 billion
1 month ago

Donald Trump’s tariff plans for China, others may cost UK $25 billion

Firstpost  

If US President-elect Donald Trump imposes tariffs as he promised on the campaign trail, the British economy could contract by 0.9% and lose up to $25 billion, according to an analysis Republican presidential nominee and former US President Donald Trump speaks at the Bitcoin 2024 event in Nashville, Tennessee, US, July 27, 2024. File Image/Reuters US President-elect Donald Trump’s trade …

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