Free Republic

President Donald Trump’s climbdown on Greenland capped one of the most erratic episodes involving a modern president on the world stage. Within hours Wednesday, Trump flipped from demanding “right, title, and ownership” of the semiautonomous Danish territory to celebrating an “infinite,” “forever” framework deal over its future. Outside the right-wing bubble, Trump is being mocked for another “TACO” (“Trump always chickens out”) moment after dropping the threat of tariffs on European nations until they agreed to give him Greenland. Just as with his “Liberation Day” tariffs, the president may have been spooked by the result of his own actions.

President Donald Trump announced on Jan. 17 that the United States will impose a 10 percent tariff on eight European countries that have opposed America’s efforts to acquire Greenland—a move the president says is critical for U.S. national security. The tariff, set to take effect Feb. 1, targets Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland—all NATO members. Trump warned that the tariff will rise to 25 percent on June 1 if a deal is not reached. “This tariff will remain in place until a deal is reached for the complete and total purchase of Greenland,”...

President Donald Trump announced what he described as an immediate and "final" trade order targeting Iran and its global partners. In a post shared on Truth Social, Trump said any country that continues doing business with the Islamic Republic of Iran would be hit with a 25% tariff on all trade with the U.S. The president wrote: "Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America. This Order is final and conclusive. Thank you for your attention to...

CitiBike is jacking up prices for the straight fifth year and partly blaming tariffs — demanding 41% higher membership rates and at least 240% more from casual cyclists since the program began in 2019.“This adjustment is necessary to manage increased operational expenses, including the impact of rising tariffs,” Citi Bike wrote in a statement.

The Trump administration’s tariff regime is under consideration at the Supreme Court. President Trump’s approach — largely focused on the careful and potent use of tariffs as a negotiating tool for so much more than simple trade — is unique and unprecedented, so it’s not surprising that it would be challenged, and that it would reach the High Court. These cases are not the simple “slam dunk” that many of the president’s opponents think they are. ... So even though the press and punditry may present the issue as if the Trump administration is the first ever to step on...

President Trump said his proposed 100% additional tariffs on goods from China were "not sustainable."

While Italian goods are being subjected to the White House’s 15% across-the-board EU tariffs, pasta producers in Italy are facing additional increases of 91% over their listed prices in the US. The move is the result of a Department of Commerce investigation that found two producers – La Molisana and Garofalo – were dumping their products on the American market. In economics, dumping refers to a practice – illegal in the United States and many other countries – often employed by large players in a given sector, of selling one’s products at below market value in order to establish market...

At least 25 countries have decided to suspend their package deliveries to the United States following the Trump administration's announcement of the abolition of a tax exemption on small packages entering the United States from August 29.

In late 2023, Kent Liu finally decided to take a leap of faith: it was time to move his customised printing business from China to the United States. Liu felt he needed to make a change. For years, his company had made money by printing T-shirts, hats and other apparel in China for a range of clients, which were then shipped to the United States. But that model was increasingly under threat. In 2018, America raised tariffs on Chinese goods, and tensions between the two powers had continued to rise over the following five years. “If I don’t go,” Liu...

Indian refiners, the top importers of Russian crude oil, are searching for alternative suppliers ahead of Friday’s summit between President Trump and his Russian counterpart, Vladimir Putin. India, the world’s third-largest oil consumer, is looking to switch up its procurement process after Trump imposed a total 50% tariff rate on New Delhi, accusing the country of effectively fueling Russia’s war machine. Oil importers are hedging their bets that even harsher punishments are in store for anyone who purchases petroleum from Moscow once Trump meets with Putin, with India’s state processor buying large bulk quantities of non-Russian crude this week to...

Tariffs as high as 145 percent were due to be implemented on goods from China at midnight Tuesday. The last-minute extension came hours after Trump provided a vague response to reporters on extending the deadline on Monday. “We’ve been dealing very nicely with China… they have tremendous tariffs that they’re paying to the United States of America,” Trump said during a press conference at the White House. “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi and myself.” Trump signed a new Executive Order later on Monday. China will now have its...

President Donald Trump signed an executive order Monday evening extending the U.S.-China tariff truce for another 90 days, just hours before a midnight deadline that would have triggered massive tariff increases on Chinese goods. The order prevents high U.S. tariffs on Chinese goods from snapping back into effect, giving negotiators until mid-November to reach a more permanent trade agreement.What This Extension MeansThe extension maintains current tariff levels rather than allowing them to spike to economically devastating levels. Under the current negotiated arrangement, U.S. "reciprocal" tariffs on Chinese imports stand at 30%, while China's retaliatory tariffs on American goods are at...

The oil market is shrugging off President Donald Trump’s threats to impose heavy tariffs on countries that buy Russian energy exports. Trump has given Russia until Friday to agree to a ceasefire in Ukraine. If Moscow does not comply, the U.S. will impose 100% “secondary tariffs” on countries that buy Russian exports, the president has said. This would in theory force countries to choose between buying Russian oil or trading with the U.S. India, China and Turkey are the most exposed as the three biggest importers of Russian oil. Trump on Wednesday targeted India with a 25% tariff for buying...

India said it had no plans to stop buying and reselling Russian oil despite an announcement by President Trump on Monday that he would “substantially” increase the 25 percent tariffs he imposed on Indian goods because of the practice. India’s foreign ministry called the targeting of New Delhi “unjustified and unreasonable,” and said the United States had once actively encouraged the oil imports Mr. Trump now seeks to punish.

Commerce Secretary Howard Lutnick said Wednesday that Thailand and Cambodia reached trade agreements with the U.S. just days after the Southeast Asian countries agreed to a ceasefire to end five days of deadly clashes along their border. Monday’s pause in fighting came after President Trump directly pressured both nations, warning the U.S. might not proceed with trade talks if the military conflict continued. In an interview Wednesday evening on Fox News’s “Hannity,” Lutnick praised Trump’s dealmaking approach, which the Commerce secretary said paid off particularly well with Cambodia and Thailand. The Commerce secretary noted Trump spent all day Saturday “calling...

Trump announces new tariff rates: 🇦🇫 Afghanistan – 15% 🇩🇿 Algeria – 30% 🇦🇴 Angola – 15% 🇧🇩 Bangladesh – 20% 🇧🇴 Bolivia – 15% 🇧🇦 Bosnia and Herzegovina – 30% 🇧🇼 Botswana – 15% 🇧🇷 Brazil – 10% 🇧🇳 Brunei – 25% 🇰🇭 Cambodia – 19% 🇨🇲 Cameroon – 15% 🇹🇩 Chad – 15% 🇨🇷 Costa Rica – 15% 🇨🇮 Côte d'Ivoire – 15% 🇨🇩 Democratic Republic of the Congo – 15% 🇪🇨 Ecuador – 15% 🇬🇶 Equatorial Guinea – 15% 🇪🇺 European Union (Goods >15%) – 0% 🇪🇺 European Union (Goods <15%) – 15% 🇫🇰 Falkland Islands –...

"We're thinking about a little rebate," Trump said Friday before leaving on his trip to Scotland. President Donald Trump told reporters that the administration was considering rebate checks for Americans based on tariff revenue."We're thinking about a little rebate," Trump said Friday before leaving on his trip to Scotland. "But the big thing we want to do is pay down debt. But we're thinking about a rebate."He added that the rebate checks would be "for people of a certain income level," but didn't go into any details, according to CBS News.Treasury Secretary Scott Bessent said during an interview with Fox...

BRUSSELS (Reuters) -The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1, two EU diplomats said on Wednesday. The rate, which could also extend to cars, would mirror the framework agreement the United States struck with Japan. Officials from the European Commission, which negotiates trade deals on behalf of the 27-nation bloc, briefed EU envoys on the state of talks with their U.S. counterparts. U.S. President Donald Trump would ultimately make any...

President Donald Trump's proposed 50% tariff on Brazilian imports is bad news for coffee drinkers. Brazil, the largest U.S. supplier of green coffee beans, accounts for about a third of the country's total supply, according to data from the U.S. Department of Agriculture. Coffee beans need to grow in a warm, tropical climate, making Hawaii and Puerto Rico the only suitable places in the United States to farm the crop. But, as the world's top consumer of coffee, the U.S. requires a massive supply to stay caffeinated. Mintel estimates that the U.S. coffee market reached $19.75 billion last year.

I'm posting this as a vanity post because 20 minutes after the announcement, the only source that's published a story on this is Bloomberg, which doesn't allow re-ups. Copper is already up 11% today, having already advanced 25% year to date.