President-elect Donald Trump made a multitude of “day one” promises throughout the campaign to begin work on an array of issues, setting himself up for an extremely busy first day back in office.
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Elections have consequences, and those consequences are dire for free market dogmatists in the Republican Party.
The tariff debate is over. President Donald Trump won, and it is not even close. Americans overwhelmingly support efforts to punish countries like China for their unfair trade practices. Even President Joe Biden, who ran blatantly misrepresenting the Trump economic record, has kept the Trump tariffs on steel and aluminum in place.
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Republican California Rep. John Duarte unveiled his plan to save American farmers from possible financial ruin due to long-standing Chinese tariffs in an exclusive interview Wednesday with the Daily Caller News Foundation.
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President Joe Biden held a press conference Tuesday extolling the tariffs on Chinese products — including steel, aluminum, electric vehicles, solar panels and semiconductors — he is rolling out. The president argued that China aggressively subsidizes the products America imports, which makes it difficult for U.S. businesses to compete.
“Back in 2000, when cheap steel from China began to flood the market, U.S. steel towns across Pennsylvania and Ohio were hit hard,” Biden said.
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President Joe Biden suggested Tuesday it is false that his administration is restricting consumer choice in the automobile market, but his administration recently finalized a rule that will force electric vehicles (EVs) to make up a much larger share of overall auto sales over the next decade.
Biden made the remark during a Tuesday speech about his administration’s decision to significantly bolster tariffs against Chinese products including steel, semiconductor chips and EV batteries. The Environmental Protection Agency (EPA) finalized a rule in March that requires manufacturers to make EVs constitute between 35 percent and 56 percent of new cars sold in 2032, according to CNN.
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The Biden administration on Tuesday formally announced significant increases in tariffs targeting imports of electric vehicles (EVs) and other green energy technology from China.
The strengthened tariffs are designed to make it harder for cheaper Chinese green products, like electric vehicles, to flood the U.S. market and displace American companies, the White House said in its official announcement. Beyond EVs and critical minerals, the administration is also increasing tariffs on Chinese steel, computer chips, EV batteries and certain solar components.
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An Alliance for American Manufacturing report called for tariffs to protect the U.S. electric vehicle market from an “extinction-level event” caused by Chinese competitors.
The report follows Chinese EV maker BYD, the world’s largest EV maker, releasing a $14,000 EV in February that could “demolish” domestic EVs, often $40,000 more expensive.
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Detroit placed the U.S. on wheels but if Motor City wants to go electric it faces fierce global competition.
Chinese electric vehicle maker BYD outsold Tesla in the fourth quarter of 2023. The foreign automaker said it produced more than 3 million new energy vehicles in 2023 compared to Tesla’s 1.8 million.
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The Biden administration is considering increasing tariffs on some Chinese products related to his green agenda, like electric vehicles (EV), in an effort to boost poor market demand and protect domestic industries, according to The Wall Street Journal.
Officials are considering setting higher rates on the already existing tariffs originally placed under the Trump administration, covering around $300 billion in Chinese goods, with Chinese EVs already having a 25% import tax, according to the WSJ. New tariffs could help domestic EV manufacturing, which has struggled with stagnant market demand, only rising from 3% in January to 4% in September of total vehicles sold in the U.S., while the share of EVs produced out of all vehicles has risen from 3% to 6% in that same time frame.
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American grocery shelves are rapidly filling up with cheap canned food imported from China, displacing American producers’ goods and raising concerns about food safety and food security, U.S. trade associations and experts are saying.
According to the Can Manufacturers Institute (CMI), a trade association supporting manufacturers of cans for both food and non-food items and their suppliers, American producers are at a disadvantage because they have to pay U.S. steel tariffs, which do not extend to finished Chinese-produced canned foods.
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As GOP senators seek to roll back former President Donald Trump’s tariffs on China now that he’s out of office, polling indicates Americans want to keep the harsh policies in place.
“For decades, Congress cut tariffs without much thought. But we cannot continue to do that when it comes to products made in China,” Republican Florida Sen. Marco Rubio told the Daily Caller News Foundation in a statement. “We should do everything possible to move supply chains out of China, but this so-called ‘China bill’ is actually subsidizing manufacturing in Communist China. It’s ridiculous.”
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President Joe Biden loosened tariffs placed on solar panel imports by the Trump administration Friday, paving the way for Chinese companies to produce more panels for American consumers.
Biden issued a proclamation Friday morning, increasing the tariff-rate quota on solar equipment, or the amount of solar panel components Chinese manufacturers can send to the U.S. before receiving a penalty. The action means Chinese solar cell makers may send up to 5 gigawatts (GW) of capacity, double the previous amount of 2.5 GW, to the U.S. before being hit with a levy.
The White House action also exempts bifacial solar panels, or panels that absorb sunlight from both sides. Such panels, which are increasingly common, are often used in industry-scale projects and are believed to be the “future of the industry.”
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Michael Bloomberg’s presidential campaign announced Tuesday that the Democratic billionaire will make a campaign stop in Minnesota to discuss policies for people “shortchanged by Donald Trump.”
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U.S. and China trade negotiators once again have a deal in principle on a first stage trade agreement, just days before a Dec. 15 deadline when President Donald Trump had threatened to further increase tariffs on Chinese goods.
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BEIJING – China will waive import tariffs for some soybeans and pork shipments from the United States, China’s finance ministry said Friday, citing a decision by the country’s cabinet.
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The U.S. trade in goods deficit with China is down 12.8 percent in the first nine months of 2019, or $38.5 billion, compared to 2018, according to the latest data from the U.S. Census Bureau.
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The U.S. and China mutually agreed to lift some tariffs in what appears to be the beginning of a potential trade deal, China’s commerce ministry announced Thursday.
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For the past two years, President Donald Trump has argued that China was paying the cost of the trade war. Following a delay in some of the tariffs from the latest round in the dispute with China, however, the president has acknowledged for the first time that tariffs have an impact on American families.
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Ask yourself if you were President, what would you do if you discovered that a foreign country has been waging an underground war against the nation you are sworn to protect surreptitiously killing tens of thousands of your people every year by pouring a drug so deadly that merely accidentally touching a small amount could kill you?
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President Donald Trump retaliated against China’s Friday announcement that it is increasing tariffs on U.S. goods by increasing tariffs to as much as 30% on $250 billion of Chinese goods.
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President Donald Trump said Sunday that Apple CEO Tim Cook told him paying economic tariffs would make it difficult for his company to compete with the likes of Samsung.
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The U.S. trade in goods deficit with China is down 10 percent in the first six months of 2019, or $18.8 billion, compared to 2018, according to the latest data from the U.S. Census Bureau.
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China has proven itself to be an unreliable trade partner in its negotiations, says President Donald Trump, and now he is levying another 10 percent tariff on $300 billion of Chinese goods that were untaxed.
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President Donald Trump said Friday on Twitter that Apple will “not be given Tariff wavers” for product parts made in China.
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President Donald Trump’s replacement for NAFTA continues to draw opposition from Democrats, something that Star News Political Editor Steve Gill discussed Friday on Fox News. Video of the interview is available here. Trump headed to Milwaukee to push for the United States-Mexico-Canada Agreement (USMCA), a replacement for the North…
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by Robert Romano A long-standing bit of conventional wisdom holds that the Great Depression, which began in 1929, was worsened and made global by tariffs in the Smoot-Hawley tariff act of 1930, and that it was not until the 1934 Reciprocal Trade Act that recovery was possible. But this…
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U.S. President Donald Trump threatened Monday to impose tariffs on another $325 billion worth of imported goods from China if Chinese President Xi Jinping does not engage in new trade talks with him later this month. Trump told CNBC he expects to meet with Xi in Osaka, Japan at…
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by Robert Romano President Donald Trump and the State Department hammered out a deal with Mexico on June 7 that Mexico would do much more to prevent illegal immigrants from crossing the country into the U.S. on the southern border. The last-minute agreement avoided a 5 percent tariff by…
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by Shelby Talcott Some Chinese exporters are putting fake “Made in Vietnam” stickers to try to avoid U.S. tariffs, Vietnam alleged Sunday. Vietnam said in a government statement that it found dozens of cases where Chinese exports, including textiles, iron, steel, and aluminum, are being illegally transferred to Vietnam where fake stickers…
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The Mexican government recently claimed that some funding for the “illicit support of migrant caravans” came from individuals within the United States. In a June 6 press release, Mexico’s Finance and Tax Secretariat announced that it has “blocked the bank accounts of various individuals and corporations that allegedly participated…
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One down, still others to go. President Donald Trump claimed a victory after Washington and Mexico agreed on measures to stem the flow of Central American migrants into the United States. Trump called off plans to impose a 5% tax on Mexican exports, and Treasury Secretary Steven Mnuchin, speaking…
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The United States and Mexico have reached a deal on migration to avert tariffs, but U.S. officials say President Trump retains the authority to impose tariffs if Mexico fails to live up to it. “I am pleased to inform you that The United States of America has reached a…
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by Christopher Roach The great American foreign policy debate began with the two parties’ divide over Vietnam. Until the Vietnam War, Republicans and Democrats more or less held to a consensus on the value of containment. After the war, Republicans favored unilateralism, a strong military, and clear-sighted pursuit of…
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by Jason Hopkins Republicans in the House and Senate appear divided in their reaction to President Donald Trump’s threats to slap Mexico with incremental tariffs. “There is not much support in my conference for tariffs, that’s for sure,” Senate Majority Leader Mitch McConnell said Tuesday after a closed-door lunch…
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Top U.S. and Mexican officials are meeting Wednesday in Washington about President Donald Trump’s threatened 5% tariff on imported products from Mexico if it does not curb the surge of Central American migrants heading north toward the United States. With Trump in Europe for 75th-anniversary commemorations of D-Day, Vice…
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U.S. President Donald Trump said Tuesday that it is “more likely” than not that next week he will impose a new 5% tariff on imported products from Mexico. Trump offered his assessment at a London news conference alongside British Prime Minister Theresa May, even as U.S. and Mexican officials…
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by Jason Hopkins The former acting director of Immigration and Customs Enforcement (ICE) voiced unwavering support for President Donald Trump’s plan to tariff all Mexican goods if they don’t better enforce illegal immigration. “I agree with the president 100 percent and I agree with the tariffs,” Tom Homan, who…
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by Jason Hopkins Republicans uncomfortable with the idea of a tariff war are reportedly mulling whether to vote against the president’s proposed tariff hikes against Mexico. A number of congressional Republicans could join their Democratic counterparts in a vote to block President Donald Trump if he moves forward with…
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by Rick Manning Stock markets go up and down based upon the latest trade rumors. Predictions of price hikes make headlines, yet the inflation rate remains at the levels, 2.0 percent at last count, desired by the Federal Reserve. What is going on? And is this even really a trade war with…
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WASHINGTON — Mexico’s foreign minister says he has started negotiating with U.S. officials after U.S. President Donald Trump threatened to impose tariffs on Mexican products related to the migrant surge at the border. Marcelo Ebrard said on Twitter Friday that he had spoken to U.S. Secretary of State Mike…
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Rep. Angie Craig (D-MN-2) sent a tweetstorm Friday night talking about President Trump’s new threatened tariffs on Mexico. “Where is the adult in the room who knows what the hell they’re doing on trade?” Craig continued by saying small businesses and farmers will be the ones affected by the…
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by Robert Romano In 2016, when President Donald Trump ran on his America first trade agenda, much of the conventional wisdom was that, if implemented, his tariffs would wreck the U.S. economy. It would have the same impact as the 1930 Smoot-Hawley Act, and so the prediction goes, lead to…
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by Robert Romano Just when it appeared that a new trade agreement with China was being finalized last week, Beijing abruptly attempted to change all the terms of the deal and walk back prior concessions that had been made to head off President Donald Trump’s threat to increase tariffs…
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The United States has increased tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports. China on Friday said it “deeply regrets” the increased tariffs and will take the “necessary countermeasures” without giving any details. The increases are going into effect amid talks between Chinese…
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by Spencer P. Morrison Jonah Goldberg writes that President Trump supports tariffs because he is “truly ignorant of some of the most basic” economic principles—or he is “deceiving the public” to push a hidden agenda. Let’s not mince words: Goldberg’s implication is that Trump is either stupid or evil…
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by Jason Hopkins The European Commission approved U.S. soybeans to be used in the production of biofuels, a decision that will fulfill President Donald Trump’s demand that the European Union buy more of the product. “Today’s decision is new proof that the European Union is delivering on our commitments,”…
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The auto industry gathered in Detroit on Sunday, on the eve of the last winter edition of North America’s premiere auto show, as carmakers grapple with a contracting market and uncertainty in the year ahead. Concerns over the health of the global economy and a US-China trade war loomed over…
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by Spencer P. Morrison Steve Hanke recently set out to prove “why President Trump’s trade message and protectionist policies are rubbish” in a Forbes article. Instead, the Johns Hopkins University economist exposed himself as a word-mincing, logic-twisting sophist – just like every other intellectual mercenary associated with the faux-libertarian propaganda mill that is the…
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by Jason Hopkins As the Trump administration continues trade negotiations with China, the U.S. delegation is taking additional steps to make sure the Communist country follows through on its pledges. U.S. and Chinese officials met Monday in the Commerce Ministry in Beijing to begin their two-day trade negotiations. The…
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by Chris White General Motor’s decision to restructure and layoff thousands of employees Monday includes eliminating a hybrid vehicle former President Barack Obama once called the car of the future for the Detroit company. GM said Monday that it will cut roughly 14,000 people in North America and will idle factories…
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