Free Republic

The absolute key to the first quarter GDP result is to remember that ‘imports‘ are a deduction in the economic equation of Gross Domestic Product. The GDP is the valuation of all goods and services produced in the USA *minus* the value of imports.The Bureau of Economic Analysis (BEA) releases the results of the first quarter GDP. The overall economic growth seems low at –0.3% until you look at how U.S. companies responded in February and March to the tariff announcement.Companies proactively purchased massive amounts of products in advance of the tariffs leading to an overall increase in imports of...

As we saw previously in Term-1, President Trump has again divided and assigned trade negotiation responsibility to key cabinet members. In this interview with CNN National Economic Council Director Kevin Hassett smiles and walks effortlessly through the narrative engineering attempt by CNN pundit Kassie Hunt.This is a must watch interview if you are following the details of the current global trade renegotiation.Hassett outlines the current status of trade negotiations with some of the biggest trade partners in the world. India and Southeast Asia are being handled by Treasury Secretary Scott Bessent. Commerce Secretary Howard Lutnick is in control of the...

China has created a list of US-made products that would be exempted from its 125 per cent tariffs and is quietly notifying companies about the policy, two people familiar with the matter said, as Beijing seeks to ease the impact of its trade war with Washington. China has already granted tariff exemptions on select products, including select pharmaceuticals, microchips and aircraft engines and was asking firms to identify critical goods they need levy-free, Reuters reported on Friday (Apr 25). However, the existence of a so-called 'whitelist' had not been previously reported. The quiet approach allows Beijing, which has repeatedly said...

House Speaker Mike Johnson (R-LA) backs President Donald Trump on tariffs, he made clear during an appearance at an Axios News Shapers event this week. Trump has the backing of Johnson, who said according to Axios that the tariffs “are working.” “I think the executive has a broad array of authority that’s been recognized over the years,” Johnson said. “If it gets close to where the imbalance is there, then we would step in.” However, if it came to that, Johnson said the first line of defense would be calling Trump directly. “But I think the first protocol, to be...

Tariffs are not just an economic issue—they are an existential necessity... America has run global trade deficits every year since 1974. The cumulative value of these deficits is over $25 trillion in today’s dollars. Americans have also invested $6.68 trillion abroad, building factories, laboratories and infrastructure in foreign countries. To add insult to injury, foreigners have stolen almost $10 trillion worth of American intellectual property and technology. This has been catastrophic for America’s industrial base. To begin with, over 60,000 factories have been relocated to China, Mexico, and Europe. This caused job loss on an unprecedented scale—America has lost over...

On Wednesday, it was reported that China had quietly compiled a list of US-made goods exempt from its 125% tariffs, aiming to ease trade tensions without public concessions. Companies, particularly those reliant on US technologies — such as pharmaceuticals and chipmakers — are being discreetly informed about these exemptions, Reuters reported. The list appears to be expanding: For instance, China recently waived tariffs on US ethane imports. This approach allows Beijing to maintain a firm public stance while offering behind-the-scenes relief. Reports emerged last week that China quietly rolled back tariffs on some US semiconductor products, easing pressure on its...

SINGAPORE, April 29 (Reuters) - China has waived the 125% tariff on ethane imports from the United States imposed earlier this month, two sources with knowledge of the matter said on Tuesday, among a group of products that have been granted exemptions. The move will ease pressure on Chinese firms that import U.S. ethane for petrochemical production as well as provide an outlet for the natural gas liquid, a byproduct of U.S. shale gas production. The sources said the tariff on ethane had been waived in recent days. One of them said the waiver has not been publicly announced. They...

The U.S. economy contracted in the first three months of 2025, as businesses rushed to stock up on imports ahead of tariffs and consumers eased their pace of spending. The Commerce Department said U.S. gross domestic product—the value of all goods and services produced across the economy—fell at a seasonally and inflation adjusted 0.3% annual rate in the first quarter. That was the steepest decline since the first quarter of 2022. The reading fell short of the 0.4% growth that economists surveyed by The Wall Street Journal expected. The decline in GDP in the first quarter reflected front-running ahead of...

Commerce Secretary Howard Lutnick on Tuesday teased that the Trump administration has reached its first trade deal, but said it was not fully finalized and declined to name the country involved. “I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly,” Lutnick told CNBC’s Brian Sullivan. The stock market rose to its highs of the session following the comments, as Wall Street is watching closely for signs of progress in trade negotiations. Lutnick did say that he was not dealing directly with...

according to Bloomberg News. Most of the hikes in US prices came on Friday, with markups significantly higher in some categories than others, according to data compiled by Bloomberg News. The average price for the top 100 products in the beauty and health category increased by 51% from Thursday, with several of the items more than doubling in price. For home and kitchen products and toys, the average jump was more than 30%, led by a massive 377% increase in the price of a 10-piece set of kitchen towels. For women’s clothing the rise was 8%. E-commerce shopping platforms like...

The New Thing embraced by Democrats and the Regime Media, and the squishes on the political right, is that President Trump is somehow responsible for the liberals winning Monday’s national elections in … Canada.It was the tariffs, they say.It was Trump trolling Canada as our 51st state, they say.It was Trump teasing former Prime Minister Justin Trudeau as “Governor Trudeau,” as in governor of America’s 51st state, they say.First off, no Normal Person cares about what happens in Canada. Who cares how Canada votes? If Canadians want another four-year term of socialist failure, they should get it. Good on them....

Tariff revenue spiked in April as President Donald Trump's "Liberation Day" import taxes went into effect. The government collected $15.9 billion in tariff revenue in April so far, compared to $9.6 billion in all of March. The tariffs were partly devised to raise money to fund the government, but economists warn they could also push up the cost of living. President Donald Trump's tariffs have become a financial reality at the nation's borders. Trump's stated goals for his import taxes include raising revenue to fund the government, restoring U.S. manufacturing by protecting it from foreign competition, and pressuring foreign governments...

HÀ NỘI — Promising developments are being made in the ongoing tariff negotiations between Việt Nam and the US, despite persistent trade challenges. That's according to Đỗ Ngọc Hưng, Trade Counsellor to the US, speaking at a conference for Việt Nam trade offices abroad held by the Ministry of Industry and Trade on April 28. The conference underscored that while global tariff tensions are creating hurdles, they also present opportunities for Việt Nam to restructure its trade strategies, boost innovation and expand its global footprint. Strengthened international cooperation, improved domestic competitiveness and agile policy support remain key to navigating this...

China, the European Union, Mexico, and Canada are among the United States’ largest trading partners and some of the most vocal opponents of the new tariffs. Their leaders and citizens try to create the illusion that they can do without the U.S. as a client, but the reality is different. There is no alternative market capable of replacing the American consumer. These countries already trade globally, and there is little room for world demand to grow enough to offset lost exports to the U.S.Their dependence extends beyond trade. They rely heavily on access to U.S. dollars, U.S. investment, and foreign...

PULSE POINTS:❓What Happened: Walmart has announced new programs, including “Grow with US” and the 2025 Open Call, to expand support for American-made products and American small businesses, as President Donald J. Trump pursues a policy of supporting American producers through tariffs on foreign goods.👥 Who’s Involved: Walmart U.S., led by President and CEO John Furner and CFO John David Rainey, alongside U.S. small businesses and entrepreneurs.📍 Where & When: Announced on April 29, 2025, with Open Call events starting May 1 in Orlando, Florida, and the main event on October 7-8 in Bentonville, Arkansas.💬 Key Quote: John Furner stated, “We’ve...

Sen. Rand Paul, R-Ky., reportedly said he is "a Republican and a supporter of President Donald Trump," but said he has the votes in the Senate to strip the presidential authority on tariffs to give it to what Trump says is a do-nothing Congress.Trump has frequently warned Congress about reducing the authority of the president and forcing America to do nothing as Congress has for decades – failing to balance free-and-fair foreign trade or rooting out waste, fraud, and abuse in massive government spending that Paul himself is against."This resolution would undermine the administration's efforts to address the unusual and...

Hat Tip very dear friend of the Treehouse, Zurich Mike.Switzerland is in a conundrum. More specifically, the Swiss National Bank is stuck betwixt two points that are also playing out in other stable western countries. Exports to the USA account for over ten percent of the Swiss manufacturing base.The Trump tariffs are putting pressure on Switzerland to drop the value of their currency as an offset to retain competitive pricing. However, simultaneous to the tariffs, the Swiss Franc is being purchased by global investment groups and sovereign foreign countries as a safe harbor due to the stability of the currency,...

Only President Trump could get the Canadians to vote for an exit to the USMCA, and he did it brilliantly.To understand President Trump’s position on Canada, you have to go back to the 2016 election and President Trump’s position on the NAFTA renegotiation. If you did not follow the subsequent USMCA process, this might be the ah-ha moment you need to understand Trump’s strategy.During the 2016 election President Trump repeatedly said he wanted to renegotiate NAFTA, the North American Free Trade Agreement. Both Canada and Mexico were reluctant to open the trade agreement to revision, but ultimately President Trump had...

Amazon said Tuesday it considered displaying import charges on items sold via its site for ultra-discount items, but that the plan “was never approved and not going to happen.” The move would have affected items sold on Haul, Amazon’s answer to Chinese discount retailer Temu, which offers apparel, home goods and other items priced at $20 or less.

The reality is that trade with China is not in America’s interests because it funds our greatest rival. Here’s how America funded China’s rise, and why tariffs will help keep America safe and free... First, America invested directly in China by building factories—offshoring 60,000 factories does not come cheap. The total value of American investment in China is unknown. According to China’s Ministry of Commerce, cumulative foreign direct investment (“FDI”) totalled $2.7 trillion in 2023. Just 2.1% of this investment was categorized as American. The reason that this amount is so low is because American investment is usually routed through...