Chinese vessels reach the US for the first time since Trump announced 145% tariffs.
The initial shipments of Chinese cargo, arriving at U.S. ports amid President Trump’s newly imposed 145% tariffs, have created a stir among retailers, importers, and logistics companies. This situation has sparked a wider conversation about trade relations across the nation. At least seven vessels from China have docked at the ports of Los Angeles and […]
‘A blow to the gut’: UK film industry’s shock at potential Trump tariffs
On a sunny afternoon in May in Surrey, Richard St. Clair is meticulously crafting a bomb prop. It’s not a real bomb, but it captures the essence of what viewers might see in a Netflix show. In the background, colleagues are cheerfully arranging skeletons for a new take on the zombie trilogy “28 years later.” […]
Trump believes 80% tariffs on China ‘seems right’ before important US-Beijing trade discussions.
President Trump expressed that 80% tariffs on Chinese products “seems to be right,” as top officials from both the U.S. and China are set for high-level discussions this weekend aimed at resolving the ongoing trade conflict between the two largest economies. In a post on his social media platform, Trump stated, “China should open a […]
Trump’s tariffs will be difficult even in the absence of a recession.
Many economic analysts have recently revised their projections for U.S. economic growth downwards, which raises concerns about a potential recession stemming from President Trump’s announcement of “Liberation Day” on April 2. This adjustment seems warranted given the unexpectedly high tariff increases and a noticeable decline in consumer and business confidence metrics. Following this, Trump postponed […]
US and China to Discuss Current Status of Trump’s Tariffs Conflict
Officials from the US and China are set to meet this weekend in Geneva for their first formal discussions aimed at addressing a challenging tariff war that could impact millions and disrupt global markets and supply chains. Here’s a look at how trade relations between these two economic giants are progressing. What steps have been […]
Chinese Export Firms Use ‘Origin Washing’ Services to Avoid U.S. Tariffs
A bustling industry focused on “origin washing” is taking shape on China’s social media, aimed at assisting businesses in dodging U.S. tariffs by falsely indicating that their products come from other Asian nations like Vietnam and Thailand. When the U.S. starts imposing tariffs on Chinese goods, some ads claim, “It was shipped via Malaysia and, […]
Europe plans to respond to Trump by imposing tariffs on American products.
The European Union is considering the implementation of tariffs exceeding $100 billion on American goods if discussions with the U.S. fail to yield satisfactory outcomes. The European Commission, which acts as the EU’s executive body, published an extensive list of items that could be subjected to these tariffs, amounting to a total of $100 billion. […]
US considers reducing tariffs on China to 50% as early as next week, according to sources.
The administration is currently considering a significant reduction in tariffs on Chinese imports, possibly lowering them from 50% to 54% as early as next week. Discussions are underway among US officials about this adjustment, with a commitment to engage in extensive consultations aimed at reaching a trade agreement. In a related move, tariffs on neighboring […]
Democrats introducing a bill that mandates retailers to show the cost related to Trump tariffs.
Representative Jamie Raskin (D-Md.) announced on Thursday that he plans to propose legislation requiring retailers to disclose price increases linked to President Trump’s tariffs. This proposal, however, seems to have been sidelined before it was officially released to the public, with reports indicating that the White House deemed it a “hostile and political act.” Senate […]
Toyota estimates that Trump’s tariffs will result in a $1.3 billion loss in two months.
Toyota issued a report on Thursday estimating that the significant tariffs proposed by President Trump, including those on automobile imports, could lead to a $1.3 billion drop in profits for the months of April and May. This year, Trump suggested a 25% tariff on imported vehicles and auto parts. Being a Japanese-owned entity, Toyota will […]