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US President Donald Trump says he will soon announce "major" tariffs on imported pharmaceuticals, a move that could end decades of low-cost global trade in medicines. For years, most countries, including the US, have imposed few or no tariffs on finished drugs, thanks in part to a 1995 World Trade Organisation (WTO) agreement aimed at keeping medicines affordable. This shift comes after Trump introduced a blanket 10% tariff on other imports last week, as part of a broader effort to bring manufacturing back to the US. His new "reciprocal" tariffs - including a duty of 104% on goods arriving from...

COMMENT: The media including the financial media really going crazy with this Trump Tariff thing – as if the market wasn’t due for a pull back. REPLY: We had forecast that we would see a correction by April last year. I answered plenty of questions on various podcasts about whether this would be a big crash and the end of the bull market. I consistently warned that such a scenario was absurd, for that implied the classic flight to quality being government debt. Facing a global sovereign debt crisis, I warned that it was just not realistic. The press has...

Roofing-products manufacturer IKO North America has been on a factory-building spree in the U.S., with one plant completed and four more under construction. After President Trump launched a barrage of tariffs on U.S. trading partners, the math abruptly changed. Chief Executive David Koschitzky said IKO’s just-finished factory in Texas now faces higher prices on the steel it uses to fabricate metal shingles, while the plants that are still being built need machinery that isn’t made in the U.S. The company will continue with the projects, he said, but tariffs will make them much more expensive. “If we’re to be successful,...

MrBeast is the latest high-profile figure to attack President Trump’s punitive tariffs, which he says will make it “way cheaper” to produce his ethically sourced chocolate brand Feastables overseas. “Ironically because of all the new tariffs it is now way cheaper to make our chocolate bars we sell globally NOT in America,” the YouTuber, whose real name is Jimmy Donaldson, wrote on X on Tuesday. Donaldson noted it would be cheaper to produce his popular candy abroad because “other countries don’t have a 20%+ tariff on our cogs.” Feastables products are “designed” in Donaldson’s hometown of Greenville, North Carolina, and...

President Trump bragged that countries have been “calling us up, kissing my ass” ever since he announced he’d be slapping roughly 90 nations with sweeping tariffs — including a staggering 104% levy on China. “I’m telling you, these countries are calling us up, kissing my ass,” Trump told the National Republican Congressional Committee Dinner late Tuesday — just hours before the tariffs went into effect. “They are. They are dying to make a deal. ‘Please, please, Sir, make a deal. I’ll do anything. I’ll do anything, sir!’” he said mockingly.

China is pushing back Tuesday after Vice President JD Vance told Fox News last week that the U.S. borrows "money from Chinese peasants to buy the things those Chinese peasants manufacture." Vance, during an interview with "Fox & Friends," made the remark while speaking about the effects of the Trump administration’s tariffs. "I think it's useful for all of us to step back and ask us, ask ourselves, what is the globalist economy gotten the United States of America? And the answer is fundamentally, it's based on two principles -- incurring a huge amount of debt to buy things that...

Full dragon, no panda mask. Beijing begins using war terminology to discuss the trade conflict with the United States. Through a series of cumulative trade tariffs, President Trump has now placed Chinese imports into the USA in a position of 104% tariffs. 104%! In response Beijing has devalued their currency and dumped treasuries, but no amount of subsidy, devaluation or use of their sovereign wealth fund is going to compensate for 104% taxes on Chinese products. Very soon all purchase orders from the USA for Chinese manufactured products will stop. The Beijing dragon is looking at the future through a...

SINGAPORE (Reuters) - U.S. Treasuries extended heavy losses on Wednesday in a sign investors are selling even their safest assets as a global market rout unleashed by U.S. tariffs takes an unnerving turn towards distress and a dash for the safety of cash. "This is beyond fundamentals right now. This is about liquidity," said Jack Chambers, senior rates strategist at ANZ in Sydney. The 10-year U.S. Treasury yield, the globe's benchmark safe-haven anchor, was up 20 basis points and rising in Asia - a remarkable move in a time zone where it's usually fairly steady. At 4.46% the yield is...

Prime Minister Benjamin Netanyahu departed the meeting with U.S. President Donald Trump on Monday evening practically empty-handed. Expectations in Israel were high that Netanyahu would be able to secure either a reduction in the 17% tariffs announced by President Trump last week, or a strong stance against Iran for resisting U.S. efforts at negotiations over the country’s nuclear ambitions, or possibly even positive developments in the issue of the hostages, after Netanyahu met with Trump and his special Middle East envoy Steve Witkoff. However, to the disappointment of many in Israel, Netanyahu left with little good news for Israel. Instead...

If Republicans like Tillis actually care about lowering Americans’ cost of living, they should slash the federal budget they’ve spent years ballooning.It’s been less than a week since President Trump’s “Liberation Day” tariff blitz against foreign nations, and Republicans on Capitol Hill are already in full-on freakout mode. Throughout the past several days, GOP members of Congress have run to their favorite legacy media talking heads to express their supposed concerns that the president’s tariff policies could result in higher costs of living for everyday Americans. The latest example of this came on Tuesday, when Sen. Thom Tillis, R-N.C., while...

Reagan-era economist Art Laffer recently appeared on the FOX Business Network and praised Trump’s tariff plan. Laffer broke it down, even including what he sees as the apparent exit plan, describing it as a ‘win-win strategy.’Laffer’s view is quite a change from the hair-on-fire approach to this topic embraced by the vast majority of the media. He even suggests that this will be better for other countries in the long run.Of course, the biggest beneficiary will be the United States.From the FOX Business Network:Economist says Trump’s tariffs are a ‘win-win strategy’ to negotiate trade dealsFormer Reagan economic advisor Art Laffer...

Benny Johnson @bennyjohnson 🚨BREAKING: President Trump announces MASSIVE tariffs are coming VERY shortly on pharmaceuticals. THIS is what I voted for: "We're gonna tariff our pharmaceuticals ... we're going to be announcing very shortly a major tariff on pharmaceuticals." From Aaron Rupar 8:00 PM · Apr 8, 2025

Todd Brayman is no longer buying his favourite red wine, which is from California. A veteran of the Canadian Armed Forces, he is one of a growing number of people in Canada, Europe, and other parts of the world, who are avoiding buying US products due to President Trump's tariffs and treatment of US allies. "I have in my life served alongside American forces. It is just profoundly upsetting and disappointing to see where we are given the historical ties that our two countries have," says Mr Brayman, who lives in Nova Scotia. "But I think right now it's time...

Senators on both sides of the aisle pressed U.S. Trade Representative Jamieson Greer on Tuesday in the wake of President Trump’s sweeping tariff actions. Democrats leaped at the opportunity to pounce on Greer during his testimony before the Senate Finance Committee on Tuesday morning amid blowback over the latest tariffs, but Republicans also shared concerns from constituents “First of all, I think there’s agreement that we recognize that America has been very generous in opening up our markets, our trading partners have taken advantage of us,” Sen. Ron Johnson (R-Wisc.), a hardline conservative, said during the hearing. “We don’t have...

National Economic Council Director Kevin Hassett appeared on Fox News to discuss the first week impact from President Trump’s global trade reset and implementation of reciprocal tariffs. Director Kevin Hassett notes that so many countries are calling and requesting to renegotiate their trade agreements, the National Economic Council is having difficulty keeping up with appointment scheduling and establishing a prioritization list for President Trump to review. That said, Hassett notes that Japan and South Korea will likely be the first two nations for U.S. Trade Representative Jamieson Greer and President Trump to engage with. Apparently, Xi Jinping (China) and Ursula...

If it reached his desk, President Donald Trump would veto a Senate bill that seeks to limit his authority to unilaterally impose tariffs, Axios reported Monday.The legislation would require the president to notify Congress of impending tariffs within 48 hours of their being imposed, while also mandating that such tariffs receive congressional approval within 60 days. Under the terms of the bill, Congress would also be allowed to withdraw any tariff at any time."If passed, this bill would dangerously hamper the President's authority and duty to determine our foreign policy and protect our national security," a White House statement of...

President Donald Trump isn’t playing games with Communist China anymore.Trump has unleashed a crushing 104% tariff on Communist China, effective immediately.According to Fox Business, White House Press Secretary Karoline Leavitt dropped the bombshell earlier today, confirming that the tariffs kicked in at noon ET. Why? Because China’s commie overlords refused to back down from their own retaliatory duties on American goods.According to FOX Business Network’s Edward Lawrence, the White House made the move swiftly and decisively.“White House Press Secretary Karoline Leavitt says 104% additional tariffs went into effect at noon eastern time because China has not removed its retaliation,” Lawrence...

After previously saying her number one concern about President Trump’s tariff program was Beijing dumping all their excess products into the EU at a discount, EU Commission President Ursula von der Leyen announces she is coordinating the tariff response with China.Apparently, the EU recognizes the ideological alignment of support from Canada just isn’t going to be enough to pressure President Trump and retain leverage into the U.S. market. This is quite a remarkable admission from von der Leyen all things considered. [STATEMENT]President von der Leyen held today a phone call with Premier Li Qiang to discuss the state of EU-China...

"In 1996, Rep. Nancy Pelosi (D-CA) criticzed the current policies toward China and U.S. jobs"

Treasury Secretary Scott Bessent said Tuesday the U.S. holds a substantial advantage over China as the two nations exchange threats in a burgeoning trade war. “I think it was a big mistake, this Chinese escalation, because they’re playing with a pair of twos,” Bessent said during an interview on CNBC’s “Squawk Box.” “What do we lose by the Chinese raising tariffs on us? We export one-fifth to them of what they export to us, so that is a losing hand for them.” The comments come a day ahead of the U.S. raising its duties on China and dozens of other...