Tag: Customs (Tariff)

Why Is Trump a Tariff Man?

Almost exactly one year has passed since Donald Trump declared, “I am a Tariff Man.” Uncharacteristically, he was telling the truth. At this point I’ve lost count of how many times markets have rallied in the belief that Trump was winding down his trade war, only to face announcements that a much-anticipated deal wasn’t happening […]

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U.S. Objects to World Bank’s Lending Plans for China

WASHINGTON — The Trump administration has formally objected to the World Bank’s plans to continue lending to China, the latest flash point in a long-running battle between the world’s largest economies. The objection comes at a delicate moment, as Washington and Beijing try to reach a Phase 1 trade agreement within the next 10 days. […]

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From Friends to Frenemies? Trump’s Relationships With World Leaders

LONDON — Their bromance once made headlines. But on Tuesday, it was clear that the days of President Trump and President Emmanuel Macron of France trading cheek kisses and clasping hands were gone. On the sidelines of a gathering for the 70th anniversary of NATO, Mr. Trump took his one-time friend to task, denouncing comments […]

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Trump Inflames the Trade Wars, Again

LONDON — President Trump disrupted the global economy on Tuesday when he threatened NATO allies and suggested that he could wait a year to reach a trade agreement with China, sending stock markets swooning. In comments to reporters sandwiched between meetings with fellow leaders of the North Atlantic Treaty Organization, Mr. Trump said a trade […]

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Trump Warns Trade Talks With China May Last Past 2020 Election

LONDON — President Trump signaled on Tuesday that he was in no rush to end a long trade war with China, suggesting that he could wait until after the 2020 presidential election to strike a deal. “I have no deadline,” Mr. Trump told reporters during a wide-ranging 52-minute appearance in London with Jens Stoltenberg, the […]

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French Wine Could Face 100% Tariffs as Trump Confronts France Over Tech Taxes

WASHINGTON — The Trump administration said on Monday that a new French tax that hit American technology companies discriminated against the United States, a declaration that could lead to retaliatory tariffs of as high as 100 percent on French wines. It could also jeopardize international efforts to negotiate a truce on so-called digital taxes. The […]

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Trump Says U.S. Will Reinstate Metal Tariffs on Brazil and Argentina

President Trump said on Monday that he would reinstate tariffs on steel and aluminum from Brazil and Argentina, accusing the two countries of artificially weakening their currencies and hurting American farmers. Mr. Trump, in a message on Twitter, said the currency manipulation by Brazil and Argentina was hurting American farmers. “There, effective immediately, I will […]

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China Condemns U.S. Over Hong Kong. That Won’t Stop Trade Talks.

SHANGHAI — China vented on Thursday after President Trump signed new human rights legislation covering the protest-wracked city of Hong Kong. It denounced the new law as illegal interference in its own affairs. It summoned the American ambassador for the second time in a week. It vowed retaliation. The threats sounded severe. They also sounded […]

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Trump’s Tax Truce With France Expires, but the Path Ahead Remains Unclear

WASHINGTON — A brief truce in what had been an escalating battle between the United States and France over taxing digital services has expired, but President Trump gave no indication this week whether he planned to return to his threats to impose new tariffs on imported wine and other French products as a result. French […]

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Trump Gives U.S. Business the Ukraine Treatment

The story that has emerged in the impeachment hearings is one of extortion and bribery. Donald Trump withheld crucial aid — aid Ukraine needed to defend itself against Russian aggression — and refused to release it unless Ukraine publicly said it was investigating one of his political rivals. Even Republicans understand this; they just think […]

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Trump Floats Tariff Exclusions for Apple at Texas Manufacturing Plant

WASHINGTON — President Trump said on Wednesday that China had not yet made enough concessions to secure a trade deal with the United States and suggested that he might exempt Apple from an upcoming round of tariffs as he toured a Texas plant that assembles Mac Pro computers. Mr. Trump, who was joined in Austin […]

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Fed Unlikely to Cut Rates Again Unless Economy Shows Signs of Weakening

WASHINGTON — Federal Reserve officials do not plan to cut interest rates again unless economic data begins to show cracks, a message reinforced by the minutes from their October meeting. After the Fed cut interest rates last month — its third reduction this year — most officials thought that policy “would be well calibrated” to […]

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Trump’s Made-for-TV Trade War Has Few Entertained

When President Trump’s advisers suggested that Beijing resume buying around $20 billion in American farm products as part of a trade deal, Mr. Trump wasn’t satisfied. In a dramatic public retelling in the Cabinet Room, he said he pressed his team to more than triple that figure, then trimmed that a little and asked for […]

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Trump Renews Tariff Threat Against China and Touts U.S. Economic ‘Boom’

WASHINGTON — President Trump on Tuesday said the United States was “close” to an interim deal with China and that an agreement “could happen soon,” even as he renewed his threat of additional tariffs. Mr. Trump’s remarks at the Economic Club of New York were likely to stoke still more uncertainty about how quickly the […]

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Trump May Punt on Auto Tariffs as European Carmakers Propose Plan

FRANKFURT — The Trump administration, in a move that could forestall potentially devastating tariffs on foreign automobiles, is in discussions with European carmakers about increasing their investment and employment in the United States. The talks come ahead of a Wednesday deadline for President Trump to decide whether to make good on his threat to impose […]

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China Says U.S. Will, and Must, Cut Tariffs to Reach a Trade Deal

SHANGHAI — The Chinese government on Thursday said Beijing and the Trump administration had agreed to get rid of some tariffs as the two sides work toward ending their 19-month trade war. But Beijing also hardened its stance in insisting that no deal could take place without each side canceling at least some tariffs. Gao […]

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Surviving Droughts, Tornadoes and Racism

“There are easier ways to make a living than farming,” Greg Bridgeforth said as he drove a combine through fields he farms in northern Alabama. “But this is what I truly love to do — till the soil and grow things, just like my father, grandfather and great-grandfather did. You know, when problems get you […]

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Trump Vowed to Shrink the Trade Gap. It Just Grew.

WASHINGTON — The overall United States trade deficit continued to widen in the first nine months of 2019, data released Tuesday morning show, defying a Trump administration plan to try to shrink the figure by renegotiating trade agreements. The trade deficit for both goods and services grew to $481.3 billion in the first three quarters […]

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China’s Xi Praises Free Trade. A U.S. Deal Goes Unmentioned.

SHANGHAI — Xi Jinping, China’s top leader, broadly endorsed free trade principles and promised to welcome foreign investment in a speech on Tuesday, but he stopped short of providing specifics or addressing his country’s long-running trade war with the United States. Speaking at the opening of the second annual China International Import Expo in Shanghai, […]

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A Scotch Maker’s Challenge: First Brexit. Now Tariffs.

ISLAY, Scotland — Britain’s planned departure from the European Union has turned distiller Anthony Wills’s workdays into a marathon of logistics. For months, he communicated with importers to ensure that his single malt, whisky distilled from barley harvested from his farm on the windswept isle of Islay, could be shipped to the Continent and the […]

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China’s Economic Growth Slows as Challenges Mount

SHANGHAI — China’s economic slowdown worsened in the July-to-September period, according to data released on Friday, as the trade war with the United States and a host of other problems leave Beijing struggling to meet its goals. The figures show China continues to grow at its slowest pace in nearly three decades of modern record-keeping. […]

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Trump’s China Deal Leaves the Global Economy as Uncertain as Ever

WASHINGTON — President Trump’s trade truce with China may have temporarily cooled tensions between the world’s two largest economies. But the damage from Mr. Trump’s aggressive approach to trade policy will continue to weigh on the global economy. The “agreement in principle” with China — which has yet to be finalized — would not roll […]

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What’s Really in the Trade Deal Trump Announced With China

President Trump portrayed the “Phase 1” agreement he announced on Friday with China with typical fanfare, describing the pact as “massive” and “the largest contract” ever signed. “We made a fantastic deal,” Mr. Trump said during remarks on Tuesday at the White House. There are good reasons to be skeptical about those claims. The deal […]

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