Tag

Tariffs

All articles tagged with #tariffs

politics31 minutes ago•7 min saved

Trump's trade plan pitched as Rust Belt revival on factory floors

U.S. Trade Representative Jamieson Greer tours Rust Belt factories to promote Trump-era tariffs and industrial policies, arguing the economy's fundamentals remain strong even as energy prices spike from the Middle East conflict and March inflation hits 3.3%. He highlighted Whirlpool's $60 million Ohio investment and noted wage and job gains in manufacturing, framing tariffs as a tool to strengthen domestic supply chains rather than raise prices. The visit underscores a campaign-style push for a coming Midwest industrial revival ahead of 2026 races.

via Politico|

#inflation #manufacturing #politics

economy6 hours ago•5 min saved

Court weighs Trump's global tariffs after Supreme Court setback

A U.S. Court of International Trade hearing in New York is considering overturning President Trump's temporary global tariffs after the Supreme Court ruled IEEPA could not justify them; Trump may rely on Section 122 of the Trade Act of 1974, which would allow up to 15% global tariffs for 150 days with congressional approval, but questions remain about its applicability to trade deficits and the tariffs' July 24 expiration.

via PBS|

#court-of-international-trade #economy #ieepa

world10 hours ago•1 min saved

Colombia Matches Ecuador With 100% Tariff in Escalating Trade Dispute

Colombia said it would raise tariffs on imports from Ecuador to 100%, matching Quito’s recent move and signaling a tit-for-tat in a growing cross-border dispute centered on drug trafficking, trade deficits, and sovereignty. The 100% rate, up from 30%, takes effect immediately after Colombia exhausted diplomatic avenues without a positive resolution. The feud involves tensions between Presidents Gustavo Petro and Daniel Noboa, including exchanges over the imprisonment of former Ecuadorian vice president Jorge Glas, and even a border-related bombing claim, with both sides accusing the other while channels of dialogue have remained open."

via Al Jazeera|

#colombia #diplomacy #ecuador

politics17 hours ago•6 min saved

Trade court weighs Trump's 10% replacement tariffs under an old law

A three-judge panel at the U.S. Court of International Trade is weighing whether President Trump properly invoked the 1974 Trade Act to reimpose a 10% global tariff, a measure limited to 150 days and intended as a bridge after the Supreme Court struck down broader tariffs. The hearing highlighted uncertainties about applying a 1970s-era provision to today’s economy, with DOJ defending the authority and opponents arguing the statute is obsolete and may require clearer congressional authorization. A ruling could shape Trump’s tariff strategy and the broader trajectory of U.S. trade policy.

via Politico|

#balance-of-payments #court-of-international-trade #politics

business22 hours ago•2 min saved

Court weighs Trump’s Section 122 tariffs after Supreme Court setback

The U.S. Court of International Trade is hearing arguments to overturn Trump’s temporary global tariffs authorized under Section 122 of the Trade Act of 1974 after the Supreme Court struck down his IEEPA-based tariffs; the 10% (potentially up to 15%) tariffs are set to expire July 24, and the central issue is whether Section 122’s reference to “fundamental international payments problems” can cover a trade deficit, a point critics say is outdated and one the court has suggested may be unnecessary since Section 122 is already available.

via NBC News|

#business #court-of-international-trade #section-122

world1 day ago•4 min saved

Ecuador Imposes 100% Tariff on Colombia in Escalating Border Dispute

Facing a long-running border dispute over drug trafficking and security, Ecuador raised tariffs on Colombian imports to 100% (effective May 1), following earlier 50% hikes. The move drew sharp rebuke from Colombia's Gustavo Petro, who warned it could spell the end of the Andean Pact and push focus toward Mercosur, amid broader tensions including ambassador recalls and cross-border energy disruptions.

via Al Jazeera|

#andean-pact #border-security #drug-trafficking

business1 day ago•5 min saved

Frozen Housing Market Reshapes U.S. Furniture Retail

America’s furniture retailers are being squeezed by a frozen housing market, high mortgage rates, and inflation, forcing bankruptcies and store closures as demand for home furnishings dries up; Circle Furniture liquidated after bankruptcy, while others like Conn’s, At Home, and American Signature downsized or shut locations. Tariffs on imports and rising costs squeeze margins, pushing the industry toward a bifurcated market where big chains rework supply chains and expand formats (galleries, large-format stores) and smaller players struggle to survive.

via The New York Times|

#bankruptcy #business #furniture-industry

politics1 day ago•7 min saved

White House splits on path to 50% Iran-tariffs plan

White House advisers clash over how to implement a threatened 50% tariff on countries that supply weapons to Iran, with Kevin Hassett arguing IEEPA emergency powers could justify action in a state of conflict while Jamieson Greer cautions IEEPA cannot authorize peacetime tariffs and other tools would be needed; the Supreme Court previously limited IEEPA’s tariff authority, leaving the plan legally uncertain and likely to face court challenges as the administration pursues other tariff powers.

via Politico|

#ieepa #politics #supreme-court

economy12 days ago•9 min saved

OECD warns U.S. inflation could top G7 by 2026

OECD projections indicate the United States could have the highest inflation among G7 economies in 2026 (about 4.2%), driven by the Iran conflict, lingering tariffs, and energy/grocery price pressures, with GDP growth around 2% as inflation remains above the Federal Reserve's 2% target.

via moneywise.com|

#economy #energy-prices #inflation

politics12 days ago•12 min saved

Massie Calls Out White House Over OnlyFarms Parody Targeting Farmers

Rep. Thomas Massie (R-Ky.) blasted the White House after it promoted OnlyFarms.gov—a parody linked to the OnlyFans brand—arguing taxpayers’ dollars are funding a ‘porn site’ parody and urging deletion of the post; the promotion drew conservative backlash amid ongoing farmer cost pressures from tariffs and energy costs during the Trump administration.

via HuffPost|

#farmers #massie #onlyfarms

technology13 days ago•31 min saved

PS5 price climbs again worldwide as tariffs and helium-linked chip shortages bite

Sony is raising PS5 prices again worldwide due to tariffs and ongoing supply-chain pressures, with the US price jumping by $100 to $649.99 (digital edition $599.99) and PS5 Pro to $899.99, and similar increases in Europe, the UK and Japan; analysts note helium shortages tied to energy and chip production contribute to higher costs, pushing prices about 30% higher than a year ago.

via KOMO|

#helium-shortage #price-hike #ps5

world15 days ago•13 min saved

China hits back with retaliatory trade probes after Trump tariffs

China announced investigations into U.S. trade practices in response to President Trump’s tariff moves, signaling a tit-for-tat escalation in bilateral trade tensions and the potential for further countermeasures.

via AP News|

#commerce-ministry #retaliation #tariffs

business18 days ago•1 min saved

Estée Lauder weighs Puig merger amid turnaround push advances

Estée Lauder Companies said it is in early talks to merge with Spanish beauty group Puig, though no deal or terms have been disclosed and no final decision has been made; Estée Lauder shares fell about 8% while Puig rose roughly 3%, and Puig owns brands like Charlotte Tilbury, Jean Paul Gaultier and Rabanne. The potential merger comes as Estée Lauder pursues its Beauty Reimagined turnaround amid tariff headwinds expected to shave roughly $100 million from full-year profitability, helping explain its year-to-date stock decline.

via CNBC|

#beauty-reimagined #business #estee-lauder

business18 days ago•2 min saved

Toyota bets on U.S. production with $1B investment in Kentucky and Indiana

Toyota said it will commit $1 billion at two U.S. plants—$800 million to expand Camry and RAV4 output in Georgetown, Kentucky, and $200 million to boost Grand Highlander capacity in Princeton, Indiana—as part of a broader plan to invest up to $10 billion in U.S. production through 2030, highlighting a strategy to build where it sells amid tariff and regulatory headwinds.

via CNBC|

#business #georgetown-kentucky #investment

business20 days ago•6 min saved

Period-Product Prices Rise as Inflation and Tariffs Bite

Inflation and tariff policies have driven up the price of menstrual products by about 40% since 2020, even as overall unit sales have declined roughly 6% since 2022. Circana and CPI data show broad price pressures, including a spike in personal-care inflation and tariffs raising costs on cotton-based products to the U.S. Consumers are responding with substitutions and a shift toward reusable options, while major brands have raised prices to offset tariff impacts and some states apply pink taxes on these items.

via CNBC|

#business #consumer-spending #inflation