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Keyword: tariffs

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  • By Forcing Control On Hong Kong, Beijing Killed The Golden Goose

    05/30/2020 8:00:27 AM PDT · by Kaslin · 8 replies
    The Federalist ^ | May 30, 2020 | Helen Raleigh
    https://thefederalist.com/wp-content/uploads/2020/05/Screen-Shot-2020-05-29-at-4.53.59-PM-998x687.png President Donald Trump announced Friday that he has directed his administration to “begin the process of eliminating policy exemptions that give Hong Kong different and special treatment.” His announcement came a day after China’s People’s Congress passed Beijing’s controversial new national security law related to Hong Kong. Trump’s announcement will profoundly affect the future of Hong Kong and the U.S.-China relationship.The president’s decision was based on Secretary of State Mike Pompeo’s certification to Congress Wednesday that “Hong Kong is no longer autonomous from China,” a decision he said gave him no pleasure but that “sound policy-making requires a recognition...
  • Trumps coronavirus economic recovery playbook includes payroll tax cut, he says

    05/14/2020 5:31:03 AM PDT · by knighthawk · 12 replies
    Fox Business ^ | May 14 2020 | Brittany De Lea
    As the U.S. works to recover from the financial fallout of the coronavirus pandemic, President Trump is preparing a stronger playbook than his 2017 policy platform to return the U.S. economy to its former strength, he says, which could include a payroll tax cut. During an interview with FOX Business Maria Bartiromo on Thursday, Trump said he liked the idea of a payroll tax cut because it provides a benefit to both businesses and workers. Thats one of the taxes that I want to see cut, Trump said. And by the way, weve already given weve given the largest...
  • Trump Threatens New Tariffs on China in Virus Retaliation

    05/01/2020 10:14:14 AM PDT · by Leaning Right · 34 replies
    Newsmax ^ | May 1, 2020 | Not listed
    President Donald Trump said his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak. Trump's sharpened rhetoric against China reflected his growing frustration with Beijing over the pandemic, which has cost tens of thousands of lives in the United States alone, sparked an economic contraction and threatened his chances of re-election in November.
  • Caught between Trump and its biggest market, Americas sole rare earths mine is an unusual victim

    05/27/2019 4:47:29 PM PDT · by Zhang Fei · 35 replies
    South China Morning Post ^ | Updated: 9:03am, 27 May, 2019 | Eric Ng
    MP Materials, which runs the sole operating rare earths mine in the United States, is an unusual victim in the year-long tit-for-tat trade war between the two largest economies on the planet, as the conflict looks set to open up a new battlefront over technology. The operator of the Mountain Pass mine in California said it will kick-start its own processing operation by the end of 2020, after China last week more than doubled an import duty on concentrates to 25 per cent effective June 1. MP exports pellets ground-up ores that contain oxides of rare earth elements ...
  • Buy American White House Confirms Executive Order That Will End Medical Supply Chain Reliance On China

    03/11/2020 6:18:59 PM PDT · by Eddie01 · 132 replies
    dailycaller ^ | 3-11-2020 | Christian Datoc
    White House Director of Trade and Manufacturing Policy Peter Navarro confirmed Wednesday the administration is working on an executive order to eliminate the governments reliance on foreign-made medical supplies. The Buy American order comes on the heels of concerns expressed by senators during their Tuesday meeting with President Donald Trump on Capitol Hill. [snip] The order would prevent federal agencies from purchasing medical supplies, including face masks, gloves and ventilators, from China. [snip] China has prevented the export of surgical face masks, severely limiting supplies in the U.S. and countries around the world. China has managed to dominate all aspects...
  • Michael Bloomberg Raises the Question of the Year

    02/27/2020 8:57:16 PM PST · by jfd1776 · 8 replies
    Illinois Review ^ | February 24, 2020 A.D. | John F Di Leo
    The most important question raised in the Democratic Partys South Carolina debate did not concern such foolish measures as Medicare-for-All, reparations for slavery, or Joe Bidens imbecilic exaggeration about murder statistics (150 million murders in the USA? Really?). The key issue of the day was only mentioned in passing, by Michael Bloomberg, of all people, and it was immediately set aside and of course, he got it wrong. Michael Bloomberg tried to make a case for his nomination, on the grounds of his own extensive business experience and his own long and happy collaboration with Mainland China. He talked about...
  • Historic Presidency: Trumps China Tariffs Protected the US from Major Coronavirus Impact on US Economy (Video)

    02/25/2020 8:41:06 PM PST · by UMCRevMom@aol.com · 34 replies
    Gateway Pundit ^ | 2/25/2020 | Joe Holt
    President Trump knew that it was unreasonable and unsafe for the US economy to be so dependent on China. He was ridiculed for his tariffs which now appear to have prevented a major economic catastrophe due to US companies moving their operations out of China over the past couple years. Last night, Melissa Francis from FOX Business Network, was on Tucker Carlson Tonight and she shared this observation: Because he [President Trump] started this trade war that was costing companies money, they went out and set up different ways that, well maybe we can get this from here, heres our...
  • China suspends more penalties on US goods after trade truce

    02/21/2020 3:55:55 AM PST · by Oldeconomybuyer · 3 replies
    The Associated Press ^ | February 21, 2020
    BEIJING -- China on Friday suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington that threatened global economic growth. Financial markets have welcomed announcements by both sides of reductions in penalties on each others goods, though they have yet to resolve much of the conflict that erupted in 2018 over Beijings technology ambitions and trade surplus. Goods affected by the latest reduction include industrial components and medical and factory equipment, according to the Finance Ministry. It gave no details of the value of goods affected but said penalties...
  • China to Grant Tariff Exemptions on 696 US Goods to Support Purchases

    02/18/2020 10:26:36 AM PST · by SeekAndFind · 8 replies
    BEIJINGChina will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States. The announcement on Feb. 18 comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods. China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and...
  • Opinion: The ABCs of trade: If it cant be made in America, it should be made Anywhere But China

    02/16/2020 6:22:45 PM PST · by BeauBo · 35 replies
    MSN ^ | 14 Fab 2020 | Zach Mottl
    The annual 2019 trade figures for the United States came out last week, heralding some encouraging news. Americas enormous international trade deficit actually declined slightly from 2018. This was the first decrease in six years, with the deficit in goods and services dropping 1.7%, to $616.8 billion. Better yet, Americas bilateral trade deficit with China fell for the first time in four years, dropping a hefty 17.6%, to $345.6 billion. These are promising numbers and they show that tariffs on Chinese products are successfully moving the needle on U.S. trade flows. In fact, Americas 2019 imports from China actually fell...
  • Nextrush Unplugged: Weekend Edition

    02/15/2020 9:17:18 PM PST · by Nextrush · 4 replies
    Nextrush Free ^ | 2/15/2020 | Nextrush/Self
    "Hello Goodbye" by the Beatles, a number one song from early 1968 here in the USA. That's around the time my father left the factory to higher paying and longer lasting government employment as inflation kicked in here in the USA. Lyndon Johnson was ramping up government with Medicare and Medicaid and the cost of medical care was beginning to skyrocket, debt was beginning to accumulate and wow here we are 23 trillion dollars plus later. The 2021 federal budget proposed by President Trump adds another 966 billion to that. Well the currency is devalued and its easy to tell...
  • French winemakers demand 300 million compensation over US tariffs

    02/11/2020 10:14:59 PM PST · by Olog-hai · 17 replies
    TheLocal.fr ^ | 11 February 2020 13:31 CET+01:00 | AFP
    French winemakers hit by US tariffs imposed in a transatlantic trade war over airplane subsidies on Tuesday demanded help from their government and European planemaker Airbus. French wine exports to the US have plunged since President Donald Trump in October imposed 25 percent tariffs on a range of European delicacies in retaliation for EU subsidies of Airbus, arch-rival of Americas Boeing. The French finance ministry last week announced that wine exports to the US the second-biggest export market for French wines after Germany had fallen by 44 percent in value from October to November. On Tuesday, the vice-president...
  • China to halve retaliatory tariffs on hundreds of US goods

    02/05/2020 11:50:34 PM PST · by Dana1960 · 36 replies
    CNBC ^ | FEB 5 2020 | Weizhen Tan & Evelyn Cheng
    Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from Chinas Ministry of Finance. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to. The statement said the move was made in order to advance the healthy and stable development of China-U.S. trade. China said that the next adjustment will depend on how Sino-U.S. trade ties evolve, adding it hopes to work with Washington to completely eliminate all tariff increases.
  • There Is A Revolt Against Democrats Coming In America Latest Poll Shows Black Approval Of Trump 42%

    02/03/2020 8:27:13 AM PST · by USA Conservative · 44 replies
    Conservative US ^ | 02.03.2020 | Natalie D.
    President Trump wasnt called a racist until he ran against Hillary. Thats how liberals operate. Play the race card every time. Theyve done it for decades. Fortunately, minorities arent falling for it as much as they used to. The black people no longer think they are victims but free men to do and achieve as they can. Just like all should be able to do. In November, two polls found that President Trumps approval rating among black likely voters had reached 34%. An Emerson poll found that Trump has a 34.5% approval rating among black likely voters and...
  • India raises import taxes in move set to spook some foreign firms

    02/01/2020 1:36:43 PM PST · by entropy12 · 25 replies
    Yahoo/Reuters ^ | February 1, 2020, 8:03 AM EST | Aditya Kalra and Chandini Monnappa
    NEW DELHI/BENGALURU (Reuters) - India on Saturday raised taxes on imports of goods such as electronic items, toys and furniture, aiming to give impetus to domestic manufacturing in a move that will hit Sweden's IKEA and other foreign firms. The measures, announced by Finance Minister Nirmala Sitharaman in her 2020-21 budget, come amid criticism from some companies that India has increasingly resorted to protectionist rules that discriminate against foreign companies. Listing the new taxes, the government said they were in line with Prime Minister Narendra Modi's "Make in India" programme aimed at promoting domestic industry. Taxes on imports of items...
  • Trump reinvented tariffs and it worked

    02/01/2020 10:54:03 AM PST · by SpeedyInTexas · 27 replies
    Washington Examiner ^ | 01/29/2020 | Jason Orestes
    Tariffs were once a mainstay in U.S. trade policy. Constituting the main source of federal revenue from 1790-1914, and at one point providing over 90% of government income, they were a pivotal component of U.S. fiscal and foreign policy. Their main motivation in those times: protect U.S. industry from foreign opposition. It wasnt until colossal industrial growth coupled with the introduction of the income tax rendered them less critical to the government balance sheet, and their use declined. Post-World War II, tariffs took on the negative connotation you see today. The West largely eschewed them in favor of free trade...
  • United States GDP Growth Continues Exceeding Expectations

    01/30/2020 9:21:53 PM PST · by ransomnote · 9 replies
    whitehouse.gov ^ | January 30, 2020 | White House
    Today, the Bureau of Economic Analysis released its advance estimate for United States GDP for the fourth quarter of 2019 and the entire calendar year of 2019. The release estimates that real GDP grew 2.1 percent at an annual rate in the fourth quarter of 2019 and 2.3 percent over the four quarters of 2019. Consumer spending and residential investment posted notable gains, propelling GDP growth and setting the stage for future economic expansion. These results show that the economy remains resilient despite a slowdown across the rest of the world and the continuation of the longest expansion in American...
  • Trump's defiance of Congress on EU auto tariffs is 'just plain illegal,' economist Paul Krugman says

    01/28/2020 9:42:33 AM PST · by central_va · 42 replies
    business insider via yahoo ^ | 1/23/20 | Theron Mohamed
    Paul Krugman slammed President Trump for threatening 25% tariffs on European vehicles and auto parts as they posed potential risks to national security. The Nobel Prize-winning economist and New York Times columnist also criticized Trump's refusal to turn over to Congress a report about an investigation into the national-security risks. "Pretty sure that's just plain illegal," Krugman tweeted. "Congress ... didn't make him a dictator free to set tariffs wherever he likes without even offering an explanation."
  • California Runs Off the Road. The new state labor law AB5 is causing trouble far and wide.

    01/24/2020 6:39:58 AM PST · by karpov · 27 replies
    Wall Street Journal ^ | January 23, 2020
    Nancy Pelosi famously proclaimed that Democrats had to pass ObamaCare to find out what was in it. On the other hand, Democrats in California last year passed legislation outlawing many freelance and independent contracting jobs knowing the disruption it would causeand voters are now discovering the damage. Ride-hailing app Uber this week rolled out changes for drivers and riders in California in an effort to duck the states new labor law AB5. That law reclassified a large swath of independent contractors from freelance journalists to Uber drivers as employees who are owed rest breaks, workers compensation, health benefits and paid...
  • The Phase One U.S.-China Trade Deal Is A Serious Win For The United States; But This Is Not a Time to be Complacent

    01/24/2020 8:55:22 AM PST · by SeekAndFind · 4 replies
    The Federalist ^ | 01/24/2020 | Helen Raleigh
    I was very skeptical when U.S. and Chinese officials announced the two nations had reached a “Phase One” trade deal last December. Neither country released any details regarding the agreement. Chinese officials have been exceptionally muted since the announcement, only emphasizing that the United States would remove a number of tariffs, without mentioning any commitments China had made. Neither the United States nor China even articulated a specific dollar amount of the additional U.S. farm products China pledges to purchase.Last week, both the White House and the U.S. Trade Representative’s Office posted the full text of the agreement, immediately...