Free Republic

Gyeongju, South Korea – United States President Donald Trump and Chinese President Xi Jinping have agreed to call off a mutual escalation in their countries’ trade war, lowering the temperature in a heated confrontation that has threatened to upend the global economy. Trump and Xi sealed a one-year trade truce on Thursday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, where the two leaders met face-to-face for the first time since 2019. But while Trump and Xi’s agreement offered a reprieve to businesses unsettled by months of back-and-forth trade salvoes, it did little to roll...

Here's a look at how US tariffs on Chinese goods have changed during President Trump's second term so far. February: Trump imposes a 10% tariff on Chinese goods due to what he said was the flow of the drug fentanyl to the US. March: The president adds another 10% tariff on goods from China, accusing it of not doing enough to address the fentanyl flow to the US. April: Trump adds a 34% levy on all Chinese imports as part of his sweeping "Liberation Day" tariffs. This brings the total to 54% on Chinese goods. This is on top of...

The Senate passed a resolution aimed at ending President Donald Trump’s tariffs on Canada, with four Republicans joining Democrats to rebuke the administration’s trade policies a day after they voted to terminate tariffs on Brazil. Sens. Rand Paul, Lisa Murkowski, Susan Collins and former Republican Leader Mitch McConnell crossed the aisle to side with Democrats in the 50 to 46 vote. They all previously voted to block the Canada tariffs in April.

U.S. President Donald Trump said on Wednesday a trade deal had been struck with South Korea, in remarks that sent the won up against the dollar, as a compact promises to dispel uncertainty for the trade-reliant economy. “We did, we did. We did reach a deal,” Trump said in response to a query on whether a deal was struck, ahead of a dinner hosted by South Korean President Lee Jae Myung. “We made our deal, pretty much finalized it,” he added later, without giving details. The won (=KRW) was up 0.54% against the dollar by 10:01 GMT on the news....

Mark Carney Is Trapped: Why Canada Cannot Agree to Trump’s Trade DemandsBy The Hermit The American media often portrays trade negotiations as a personal contest of wills: Donald Trump versus Mark Carney. But that framing misses the central truth of Canada’s political system. Unlike the President of the United States, who holds executive authority independently of Congress, Mark Carney is not a singular decision-maker. He is the product — and the prisoner — of Canada’s parliamentary system, its coalition politics, its regional power blocs, and its economic dependency on trade policies designed to benefit Canada at the direct expense of...

Washington describes first day of negotiations between Scott Bessent and He Lifeng as ‘very constructive’The US and China kicked off high-stakes trade talks in Malaysia on Saturday that Washington described as “very constructive” ahead of Donald Trump’s trip to Asia for a summit with Xi Jinping.Following weeks of mounting tensions between the world’s two biggest economies, US Treasury secretary Scott Bessent and Chinese vice-premier He Lifeng held negotiations in Kuala Lumpur that will help shape the outcome of the summit on Thursday.This month Beijing announced sweeping export controls on rare earths, prompting Trump to threaten an extra 100 per cent...

President Trump’s upcoming trip to Asia is a reminder that his trade philosophy has not changed: America’s economic strength is the foundation of its global influence. His mission is to turn high-stakes negotiations into opportunities for American workers and investors. But as trade tensions with China ignite again, business leaders should prepare for volatility and opportunity to rise in tandem.The White House hopes to announce a series of trade agreements during his trip to Malaysia, Korea, and Japan. U.S. Trade Representative Jamieson Greer has indicated that the administration expects to sign multiple deals during the Asia swing. The agreements would...

President Donald Trump late Friday blasted the Ontario provincial government in Canada for waiting until after the first two games of the World Series to pause a television ad featuring former President Ronald Reagan criticizing tariffs. "They could have pulled it tonight," Trump told reporters at the White House as he headed to fly to Asia. "Well, that's dirty play," he said. "But I can play dirtier than they can, you know." Trump had cited the ad in his decision on Thursday night to trade negotiations with Canada. Ontario Premier Doug Ford on Friday afternoon said he would pause the...

Trump ended all trade talks with Canada on ThursdayThe liberal Canadian premier who launched a $75 million anti-tariff ad campaign in the United States featuring former President Ronald Reagan will yank the effort after pressure from President Donald Trump.Ontario Premier Doug Ford said Friday afternoon that he would pause the ad campaign put out by his administration targeting Americans starting on Monday. That announcement came after Trump on Thursday said he had ended all trade talks with Canada over the ad, calling it an effort to influence American politics.“Our intention was always to initiate a conversation about the kind of...

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

The European Union will phase out all Russian oil imports by January 1, 2028. New contracts will be prohibited after January 2026; existing short-term contracts must cease by June 2026 and long-term contracts by January 2028. The EU still believes it can target 45% renewable energy by 2030 and reduce its reliance on fossil fuel entirely. These conditions are perfect for inflationary price spikes and bottlenecks leading to extreme volatility. Europe has dismantled its economy to support Ukraine. Cutting Russian gas imports reroutes the flow of capital across Europe and the globe. Alternative sources must be developed, infrastructure must be...

President Trump and President Xi Jinping are locked in a fresh trade war standoff—and Beijing is betting the U.S. stock market will blink first. China’s escalating economic retaliation is timed with precision, and the message is clear: Xi believes Trump won’t risk another market meltdown. That assumption could shape every policy move over the next few weeks and shift investor sentiment worldwide. From rare-earth sanctions to new export controls and shipping-related penalties, China is tightening the screws just as President Trump threatens 100% tariffs on Chinese goods. Meanwhile, both countries prepare for a high-stakes summit later this month in South...

President Donald Trump said Wednesday he would likely make the highly unusual move and head to the Supreme Court to watch arguments on the cases related to his tariffs. On November 5, the Supreme Court will hear arguments on whether the president has the authority to impose his tariffs under the International Emergency Economic Powers Act. Talking to reporters in the Oval Office, Trump talked about how important the cases are to him. 'We have a big case coming up in the Supreme Court, and I will tell you, that’s one of the most important cases in the history of...

For thousands of manufacturers across China, it’s déjà vu—with implications for the country’s fragile economy. Earlier this year, after President Trump raised tariffs on Chinese goods to 145% in April, American customers of Alan Chau’s toy factory in southern China abruptly froze orders, sparking a cash crunch ttohat brought his business to the brink. So it came as a relief when the U.S. and China reached a trade truce weeks later in mid-May, rolling back most of their tariffs on one another—and allowing Chau to resume shipping his products again. Now, less than six months later, prohibitively high tariffs could...

For many years now, many Americans have been muttering under our breath, “Why do we buy so much from China?” Whether we’re at a clothing store, a computer superstore or a big box discounter, the question is the same as we see that label on the box. The same goes for us in the business world, as we find ourselves forced to buy parts, components, even finished goods made in China, because they just aren’t available anywhere else. Not in the USA, not in Mexico, often nowhere on earth except China. It’s unacceptable, but sometimes, we’re stuck. So we elected...

The Supreme Court will likely agree with lower courts that ruled President Donald Trump can’t use the International Emergency Economic Powers Act to impose broad tariffs, according experts surveyed by JPMorgan. Trade and legal experts said the odds that the high court will rule against the Trump administration are 70%-80% and expect a decision by the end of the year

Brick by brick, President Donald Trump is building a wall around the world’s largest economy. As America’s tariff barriers on everyone else have gone up, so has the drawbridge, making it harder for migrants to enter the country. The president wants to turn America into a fortress that keeps out foreign incursions. In fact, he is cutting America off from the very goods and talent that helped make its economy the envy of the world. Already the damage is starting to show; once wreaked, it will not easily be reversed. That is not how investors see it. In the six...

Washington — American farmers are having a tough year, in no small part because of President Donald Trump’s trade war. Now, the White House is gearing up to extend them a multi-billion-dollar bailout, sources tell CNN. Surging costs and foreign retaliation from tariffs have hurt the US agriculture industry — as have immigration-related labor shortages and plummeting commodity prices. Farm production expenses are estimated to reach $467.4 billion in 2025, according to the Agriculture Department, up $12 billion from last year. Farm bankruptcies rose in the first half of the year to the highest level since 2021, according to US...

The status quo is not going to cut it for Canadian Prime Minister Mark Carney at his Tuesday meeting with President Donald Trump in Washington. With an unemployment rate of 7.1%, the highest level in nine years and half a percentage point higher since the start of this year, Canada’s economy is faltering. Steep tariffs Trump slapped on cars, steel and aluminum — key Canadian exports to the United States — are making matters worse. And Carney’s meeting is happening just as Trump is prepared to deal another blow to the Canadian economy: tariffs on softwood and lumber, among the...

Conservative law professor William Jacobson of Cornell University, publisher of the Legal Insurrection blog, appeared on the Jesse Kelly show this week and outlined an upcoming Supreme Court case for Trump that he describes as ‘very high stakes.’ The case has to do with the Trump tariffs, and depending on how the court rules, it could have a significant effect on Trump’s economic policy. Jacobson suggests that it could be a very close call. Transcript via Legal Insurrection: Kelly (00:05): The Supreme Court is about to begin another term. I don’t understand these terms. I don’t understand what they’re doing...