Tag:

International Trade

Most Of Trump's Tariffs Ruled Illegal By Federal Court; Administration Expected To Appeal Most Of Trump's Tariffs Ruled Illegal By Federal Court; Administration Expected To Appeal Most Of Trump's Tariffs Ruled Illegal By Federal Court; Administration Expected To Appeal
Most Of Trump's Tariffs Ruled Illegal By Federal Court; Administration Expected To Appeal A federal appeals court has dealt a major blow to President Donald Trump’s trade agenda, ruling that most of his sweeping global tariffs were illegal, reports said.  The US Court of Appeals for the Federal Circuit found on Friday, Aug. 29, that the law Trump used to justify some of his most aggressive trade measures did not give him the authority to impose those tariffs, according to CNBC.  The 7-4 ruling casts doubt on Trump’s agreements with the European Union, Japan, South Korea, and other major trading partners to lower “reciprocal” tariffs from the rates his administrati…
Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff
Produce Aisle Staple Faces Steep Price Hike Under Trump's Latest Tariff President Donald Trump's trade war with Mexico is about to raise the prices of a major ingredient in everything from pizza and pasta sauces to salads and sandwiches. Trump will begin imposing a 17.09% tariff on fresh tomato imports from Mexico on Friday, Aug. 1. The move comes as the Commerce Department officially withdrew from a longtime trade agreement governing imported tomatoes on Monday, July 14. The tariff is slightly lower than the 21% duty floated by Trump officials in April, Bloomberg reported. Trump has also announced an additional 30% tariff on other Mexican goods …
Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows
Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows Many retail executives are starting to follow Wall Street's "TACO trade" philosophy, according to a new survey. A growing number of retail leaders believe President Donald Trump will retreat on his sweeping tariffs against many countries, according to a survey from consulting firm AlixPartners. The survey released on Sunday, June 1, was first reported by CNBC. Executives from major brands and retailers were asked about how they were planning for the July expiration of Trump's 90-day pause on his so-called "liberation day" tariffs. A majority said they expect the president to settl…
Trump's Tariffs Temporarily Reinstated After Appeals Court Blocks Two Rulings Trump's Tariffs Temporarily Reinstated After Appeals Court Blocks Two Rulings Trump's Tariffs Temporarily Reinstated After Appeals Court Blocks Two Rulings
Trump's Tariffs Temporarily Reinstated After Appeals Court Blocks Two Rulings The Trump administration can temporarily continue collecting tariffs after an appeals court lifted a lower court's block on the President's sweeping duties that have shaken global markets. The US Court of Appeals for the Federal Circuit paused the ruling by the US Court of International Trade on Thursday, May 29. The trade court had struck down most of President Donald Trump's global tariffs, saying he had improperly used the International Emergency Economic Powers Act to impose the duties. The dozen states and five small businesses who sued to block Trump's tariffs have unti…
US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War
US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War The US and China are stepping back from extremely high retaliatory tariffs placed on each other, lowering the duty rates to ease tensions and negotiate a potential trade deal. The White House announced the tariff-lowering agreement on Monday, May 12. Both countries will reduce their tariffs to a baseline 10% rate, with the US continuing to impose its 20% tariff on China related to fentanyl. The drastic reduction comes after President Donald Trump dramatically raised tariffs on Chinese imports to a combined 145%, causing Beijing to retaliate with a 125% tariff on US goods. The agreement also…
Trump’s 100% Movie Tariff Plan Rattles Studios, Sends Streaming Stocks Sliding Trump’s 100% Movie Tariff Plan Rattles Studios, Sends Streaming Stocks Sliding Trump’s 100% Movie Tariff Plan Rattles Studios, Sends Streaming Stocks Sliding
Trump’s 100% Movie Tariff Plan Rattles Studios, Sends Streaming Stocks Sliding President Donald Trump said he wants to slap a 100% tariff on foreign-made movies to support what he called a "dying" industry, sparking pushback from film producers and lawmakers. Trump announced his plan for the movie tariffs in a post on his social media platform Truth Social on Sunday, May 4. His post claimed he was authorizing the Department of Commerce and the United States Trade Representative to begin instituting the 100% tariffs on films made outside the US. It's unclear how tariffs would be imposed on movie production and distribution. "The Movie Industry in America is DYING…
DHL Ends High-Value Delivery Pause As Trump's Tariffs Spark Customs Backlog DHL Ends High-Value Delivery Pause As Trump's Tariffs Spark Customs Backlog DHL Ends High-Value Delivery Pause As Trump's Tariffs Spark Customs Backlog
DHL Ends High-Value Delivery Pause As Trump's Tariffs Spark Customs Backlog A major global shipping company has lifted its pause on high-value shipments to the US after stopping them for a week due to President Donald Trump's sweeping tariffs. DHL has resumed business-to-consumer deliveries for packages with declared values of $800 or more. The company made the announcement in a website update on Monday, April 28.  The German shipping giant paused high-value shipments on Monday, April 21. DHL warned customers that the latest tariff-driven rule changes to inspections had overwhelmed its clearance systems, triggering multi-day delays. The re…
Major Shipping Company Halts High-Value US Deliveries Due To Trump's Tariff Rules Major Shipping Company Halts High-Value US Deliveries Due To Trump's Tariff Rules Major Shipping Company Halts High-Value US Deliveries Due To Trump's Tariff Rules
Major Shipping Company Halts High-Value US Deliveries Due To Trump's Tariff Rules A major global shipping company will stop delivering high-value consumer packages to the US as President Donald Trump's sweeping tariffs trigger customs delays. DHL is pausing business-to-consumer deliveries to the US with declared values over $800 on Monday, April 21, the company said. The German shipper cited a surge in customs backlogs caused by new federal rules linked to Trump's trade wars. The impact of Trump's policies has overwhelmed DHL's clearance systems, triggering multi-day delays across the shipping network. "This change has caused a surge in formal customs clearanc…
VA Small Business Joins Group Suing Trump Over Tariffs: 'Unprecedented Power Grab' VA Small Business Joins Group Suing Trump Over Tariffs: 'Unprecedented Power Grab' VA Small Business Joins Group Suing Trump Over Tariffs: 'Unprecedented Power Grab'
VA Small Business Joins Group Suing Trump Over Tariffs: 'Unprecedented Power Grab' A group of small businesses is suing President Donald Trump over his sweeping new tariffs, warning the policy is driving up prices, threatening jobs, and putting their companies at risk of shutting down. The lawsuit argues that Trump has no legal authority to impose the "liberation day" tariffs. The suit was filed in the US Court of International Trade on Monday, April 14. Trump reversed course and paused many of his tariffs for 90 days but escalated duties on China to 145%. He enacted the tariffs unilaterally, invoking the 1977 International Emergency Economic Powers Act to …
Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow
Trump Slaps 104% Tariff On China As Markets Resume Freefall, Recession Fears Grow President Donald Trump will place a jarring 104% tariff on Chinese goods, wiping out gains on Wall Street after three chaotic days of trading that wiped out trillions from US markets and elevated recession fears. White House Press Secretary Karoline Leavitt confirmed the dramatic tariff rise during a news conference on Tuesday, April 8. The new 104% duty will officially begin at 12:01 a.m. on Wednesday, April 9. China's tariff rate was raised to a combined 54% when Trump announced his "liberation day" tariffs on Wednesday, April 2. A 34% additional tariff was added to Trump's pre-existing 2…
Trump's Tariffs Hit Nintendo: Switch 2 Preorders Delayed, Video Game Giant's Stock Tumbles Trump's Tariffs Hit Nintendo: Switch 2 Preorders Delayed, Video Game Giant's Stock Tumbles Trump's Tariffs Hit Nintendo: Switch 2 Preorders Delayed, Video Game Giant's Stock Tumbles
Trump's Tariffs Hit Nintendo: Switch 2 Preorders Delayed, Video Game Giant's Stock Tumbles The Nintendo Switch 2 was hit with a Mario Kart "red shell" as preorders for the highly anticipated video game console have been delayed due to President Donald Trump's sweeping new tariffs. Preorders for the Nintendo Switch 2 won't start on their scheduled date of Wednesday, April 9. A Nintendo spokesperson confirmed the delay to the Daily Voice on Friday, April 4. Nintendo said the pause won't affect when the portable console will be released. "Pre-orders for Nintendo Switch 2 in the U.S. will not start April 9, 2025 in order to assess the potential impact of tariffs and e…
Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners
Trump Imposes Sweeping Tariffs Amid Economic Fears, Says US Was 'Raped' By Trade Partners President Donald Trump has announced sweeping new tariffs, accusing allies and adversaries of looting the US economy, despite consumer confidence sinking domestically and growing recession fears. Trump revealed the tariffs during a news conference in the Rose Garden at the White House on Wednesday, April 2. The President called the day "liberation day," alluding to what he claims is a trade imbalance caused by his predecessors. The new measures impose a baseline 10% tariff on all imports. Those will begin on Saturday, April 5, according to the White House. Sharply higher rates for dozens o…
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect after President Trump signed an order late Saturday afternoon, Feb. 1. Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 10 percent. Canada also has an adjusted 10 percent rate for energy products, include crude oil. Mexico and Canada account for about 70 percent of US crude oil imports. Now, many economists are warning that American consumers will be paying more for a host of staple i…