On Wednesday, 107 Republican members of the House of Representatives sent a letter to the president expressing concern about broad tariffs and calling for him to focus any action on unfair trading partners, like China. “We are committed to acting with you and our trading partners on meaningful and effective action,” the letter said. “But…
A provisional list of items being targeted ranges from steel to T-shirts, also including bed linen, chewing tobacco, cranberries and orange juice, among other products. The overall size of the business affected is relatively small, worth about 2.8 billion euros, or $3.5 billion, in imports, paling in comparison with the nearly €250 billion of goods…
President Donald Trump could exempt some nations when he formalizes tariffs on imported steel and aluminum amid threats of retaliation from U.S. trading partners and warnings from his own party that the move will hurt American businesses and consumers.The administration will initially exclude Canada and Mexico from the tariffs, an exemption they would lose if…
JPMorgan Chase & Co. executive Daniel Pinto warned equity markets could fall as much as 40 percent in the next two to three years. That would wipe out recent gains.His comments come as investors worry over the effect of central banks raising interest rates and rising inflation. “It could be a deep correction,” said the…
“We’re not backing down,” the president said at the White House on Monday, as he reeled off a familiar litany about trade deals that he said had driven out factories and deprived American workers of jobs. But Mr. Trump did open the door to a compromise, at least with Canada and Mexico, which are in…
“If you look across countries, there’s no evidence that high tariffs reduce your trade deficit,” said Joseph E. Gagnon, a senior fellow at the Peterson Institute for International Economics, and a co-author of a 2017 book of policy recommendations on how to reduce trade imbalances. “The trade deficit is a terrible metric for judging economic…
The European Union is preparing punitive tariffs on iconic U.S. brands produced in key Republican constituencies, raising political pressure on President Donald Trump to ditch his plans for taxing steel and aluminum imports.Targeting 2.8 billion euros ($3.5 billion) of American goods, the EU aims to apply a 25 percent tit-for-tat levy on a range of…
Donald Trump’s yardstick for his own success is going rogue.That’s the Dow Jones Industrial Average, a regular feature in the U.S. president’s commentary over the past year as the equity bull market raged on. Take early January, when the index sailed past 25,000 for the first time: “This is all about the Make America Great…
In one example of Mr. Nader’s influential connections, which has not been previously reported, last fall he received a detailed report from a top Trump fund-raiser, Elliott Broidy, about a private meeting with the president in the Oval Office. Mr. Broidy owns a private security company with hundreds of millions of dollars in contracts with…
The tariff on aluminum, prospectively 10 percent, would allow Mr. Bless to restart some production of high-purity aluminum for military use at Century’s plant in Hawesville, Ky., which it partly shut three years ago, he said. He plans to hire 300 people this year on top of the 1,850 he already employs and invest more…
