Government, Business, Technology

Mnuchin Leverages Auto Tariff Threats Against Digital Taxes

Steven Mnuchin, U.S. Treasury secretary, pauses during a panel session on day two of the World Economic Forum in Davos, Switzerland, on Jan. 22. Steven Mnuchin, U.S. Treasury secretary, pauses during a panel session on day two of the World Economic Forum in Davos, Switzerland, on Jan. 22. (Jason Alden/Bloomberg News)

U.S. Treasury Secretary Steven Mnuchin dangled the prospect of retaliatory tariffs on automobile imports if an issue with France's technology companies tax isn't resolved.

January 22, 2020
Government, Business

US Won’t Cut More China Tariffs Until After November Vote

Donald Trump President Donald Trump by Zach Gibson/Bloomberg

Existing tariffs on billions of dollars of Chinese goods coming into the U.S. are likely to stay in place until after the presidential election Nov. 3, and any move to reduce them will hinge on Beijing’s compliance with the terms of a phase-one trade accord, people familiar with the matter said.

January 14, 2020
Government, Business

NRF Report Points to Tariffs as Key Reason for Port Slowdown

Port of Los Angeles Cranes load and unload shipping containers at the Port of Los Angeles. (Patrick T. Fallon/Bloomberg News)

U.S. import container volumes are expected to show a nearly 1% drop when the final numbers for 2019 are in, the National Retail Federation and Hackett Associates said.

Dan Ronan | Associate News Editor
January 13, 2020
Government, Business, Fuel

Two Federal Studies Say Trade War With China Is Damaging US Economy

Trucks at the Port of Los Angeles Trucks at the Port of Los Angeles. Officials at the port assisted in putting together a study that found as many as 1.5 million U.S. jobs, and nearly $190 billion in economic activity, is threatened by tariffs. (Nick Ut/Associated Press)

Even as the Trump administration is set to sign phase one of the trade agreement with China, consumers and American businesses continue to feel the impact of the U.S.-China trade war.

Dan Ronan | Associate News Editor
January 9, 2020
Government, Business

China Announces Tariff Cuts, More Competition in Markets

Petro plant in China Sinopec Yanshan Petrochemical Co. outside Beijing by Mark Schiefelbein/AP.

BEIJING — China will reduce tariffs Jan. 1 on more than 850 foreign products including frozen pork, asthma medications and some high-tech components to spur economic development.

December 23, 2019
Government, Business

Trump Approves U.S.-China Trade Deal to Halt Dec. 15 Tariffs

China Gantry cranes stand over containerships at the Port of Los Angeles. Traffic to ports has been an important part of the conversation about tariffs. (Patrick T. Fallon/Bloomberg News)

President Donald Trump signed off on a phase-one trade deal with China, averting the Dec. 15 introduction of a new wave of U.S. tariffs on about $160 billion of consumer goods from the Asian nation, according to people familiar with the matter.

December 12, 2019
Government, Business

What Happens to Markets if US Tariffs on China Kick in Dec. 15

China Tariffs Andrew Harrer/Bloomberg News

President Donald Trump’s latest missives on trade are a wake-up call to markets close to record highs that a major deadline is looming with China.

December 3, 2019
Government, Business

European Commission President: US Auto Tariffs Not Expected

Steel Factory A worker moves steel coils at the Thyssenkrupp steel factory in Duisburg, Germany. (Martin Meissner/Associated Press)

BERLIN — Outgoing European Commission President Jean-Claude Juncker says he does not think U.S. President Donald Trump will impose new tariffs targeting European automobiles.

November 8, 2019
Government, Business

China Ties Agriculture Binge to Trump Reducing US Tariffs

China's agriculture binge due to tariffs. Truck driver Bob Prince monitors harvested soybeans as they are loaded onto a truck in Princeton, Ill. (Daniel Acker/Bloomberg News)

Beijing wants a rollback in tariffs in its trade war with the U.S. before China can feasibly agree to buy as much as $50 billion of American agriculture products that President Donald Trump claims are part of an initial deal, people familiar with the matter said.

October 15, 2019
Government, Business

Chinese Tariffs Hit US Car Sales, Jobs in Trade-Heavy Counties

Cars sit on a dealership lot A row of Nissan Motor Co. Altima vehicles sit on the lot at Thomas Nissan in Joliet, Ill. on Oct. 2, 2019. (Daniel Acker/Bloomberg News)

In the trade war with the U.S., China’s tariffs have targeted agricultural goods for a couple main reasons: They make up a large proportion of U.S. exports to China, but also because they strike at the heart of President Donald Trump’s base of support in farm country.

October 8, 2019