Free Republic

Four Republican senators voted with Democrats on Thursday to approve a bipartisan resolution to repeal President Trump’s global tariffs, including steeper rates on long-time allies such as the European Union, Japan and South Korea. Sen. Rand Paul (Ky.), the GOP sponsor of the resolution, and Sens. Mitch McConnell (R-Ky.), Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska) voted for it. The same proposal failed in the Senate in late April on a 50-49 vote after Vice President Vance cast the tiebreaking vote to defeat it. Critically, McConnell and Democratic Sen. Sheldon Whitehouse (R.I.), who voted Thursday for the resolution, missed the...

The Senate passed a resolution Tuesday aimed at ending President Donald Trump’s tariffs on Brazil, with five Republicans joining Democrats in a rare bipartisan rebuke of the president over trade policy. Sens. Rand Paul, Thom Tillis, Susan Collins, Lisa Murkowski and former Senate GOP Leader Mitch McConnell sided with Democrats in the 52 to 48 vote. McConnell has long been critical of Trump’s trade policy, and said in a statement ahead of the vote, “Tariffs make both building and buying in America more expensive. The economic harms of trade wars are not the exception to history, but the rule.” The...

The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs. The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts. TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED. Thank you for your attention to this matter! President DJT

President Donald Trump’s tariffs will cost global businesses upward of $1.2 trillion in 2025, with most of the cost being passed onto consumers, according to a new analysis from S&P Global. In a white paper released Thursday, the firm said its estimate of additional expenses for companies is probably conservative. The price tag comes from information provided by some 15,000 sell-side analysts across 9,000 companies who contribute to S&P and its proprietary research indexes. “The sources of this trillion-dollar squeeze are broad. Tariffs and trade barriers act as taxes on supply chains and divert cash to governments; logistics delays and...

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

President Donald Trump said Thursday that he will use tariff revenue to offer cash bailouts for farmers who are struggling with trade uncertainty and other economic headwinds. “We’re going to take some of that tariff money that we made, we’re going to give it to our farmers, who are, for a little while, going to be hurt until the tariffs kick into their benefit,” Trump told reporters in the Oval Office. “So we’re going to make sure that our farmers are in great shape, because we’re taking in a lot of money.” Trump officials expect that Congress will need to...

Treasury Secretary Scott Bessent said Sunday that he is “confident” that President Donald Trump’s tariff plan “will win” at the Supreme Court, but warned his agency would be forced to issue massive refunds if the high court rules against it. If the tariffs are struck down, he said, “we would have to give a refund on about half the tariffs, which would be terrible for the Treasury,” according to an interview on NBC’s “Meet the Press.” He added, however, that “if the court says it, we’d have to do it.” The Trump administration last week asked the Supreme Court for...

President Trump fired the Bureau of Labor Statistics commissioner last month because he didn’t like the monthly jobs numbers. He claimed the numbers were “rigged.” But Friday’s monthly report for August confirms that job creation has stalled amid his tariff barrage. Employers added a mere 22,000 jobs last month while the numbers were revised down for the previous two by a combined 21,000. This means only 107,000 new jobs were created in the last four months—an average of 27,000. Monthly job gains averaged 167,000 last year. Nearly all of the new jobs last month were in social assistance and healthcare...

Full statement from Pam Bondi: President Trump found there was a national emergency and took action under the law by imposing tariffs. The judges of the Federal Circuit are interfering with the President’s vital and constitutionally central role in foreign policy. This decision is wrong and undermines the United States on the world stage. The Justice Department will appeal this decision and continue to fight to restore the president’s lawful authority.

Wholesale inflation increased much more than expected in July, raising concerns about a resurgence of inflationary pressures in the economy. The Bureau of Labor Statistics on Thursday released the producer price index (PPI) for the month of July, which showed an increase of 0.9% from the prior month and 3.3% from a year ago. Those PPI figures were much hotter than the forecast of prices rising 0.2% on a monthly basis and 2.5% from last year that was estimated by economists polled by LSEG. Core PPI, which excludes volatile components like food and energy, also rose 0.9% from last month...

Boycott, eh? US exports of liquor and wine to Canada have plummeted by more than 60% in the first half of the year as furious Canucks snub American booze because of President Trump’s trade war. Shipments of popular US-made whiskeys, rums, gins and other liquors through June to Canadian provinces was around $43.4 million, according to the Distilled Spirits Council — a 62% drop from the approximate $114 million during the same period last year. Wine exports have suffered even more severely, falling approximately 67% based on federal trade statistics provided by the US trade group. The data was first...

@RandPaul The true cost of the tariffs 👇

WASHINGTON (AP) — President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips...

President Trump has now imposed his new tariff regime on the world, and the triumphalism is palpable in MAGA land. But maybe hold the euphoria, as this week’s reports on jobs and the economy suggest the new golden age may take a while to appear. Friday’s labor report arrived with a particular jolt, with a mere 73,000 net new jobs in July. Even more bearish were the downward revisions of 258,000 jobs in May and June. Job gains over the last three months are barely more than 100,000. The details in the report provide little solace. The jobless rate ticked...

As President Donald Trump enters the final days before his global trade deadline, tariff revenues have climbed to a record $150 billion so far this year. The U.S. collected nearly $28 billion in customs duties in July, the highest monthly total so far this year, according to the Treasury Department’s "Customs and Certain Excise Taxes" data. The July figures, based on data through July 25, have already surpassed June’s monthly record of $27 billion. In January, tariff revenues hovered around $7.9 billion and more than doubled in April to $16.3 billion. The revelation comes as Trump enters the final week...

President Donald Trump's tariffs, scheduled to increase on August 1, could result in significantly higher prices for a range of food groups. This is according to an analysis published Monday by the bipartisan Tax Foundation, which found that these will impact nearly 75 percent of U.S. food imports, which it said will "likely lead to higher food prices for consumers." Newsweek reached out to the White House via email for comment. Why It Matters It has repeatedly been warned that the higher import taxes implemented as a result of the Trump administration's economic agenda will increase costs for U.S. businesses...

SUMMARY: * The United States and European Union have reached a trade deal which will see a blanket tariff of 15% on all EU goods imported to the US. * President Trump says the EU has promised hundreds of billions of dollars of investment and energy purchases. * Trump and President of the European Commission Ursula von der Leyen met for talks in Scotland on Sunday - she has called the agreement a "huge deal" * The new deal is set to kick in on Friday, and means the Europe will avoid threatened import charges of 30% A trade deal...

"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...

<p>MONTEROSI, Italy (Reuters) -Producers of Pecorino Romano cheese, one of Italy's best known food exports, are lobbying to be spared new U.S. tariffs that could raise consumer prices and take a chunk out of their export market.</p><p>Gianni Maoddi, president of the Consorzio di Tutela del Pecorino Romano, said the cheese has for more than 140 years been popular in the United States, which accounts for around 40% of annual exports.</p>

President Donald Trump on Saturday announced he's levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States' biggest trade partners in letters posted to his social media account. In his letter to Mexico's leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a "Narco-Trafficking Playground." Trump in his letter to the European Union said that the U.S. trade deficit was a...