Government, Business

China Says US Tariff Threat Runs Against Trend of the Times

Wang Yi China's Foreign Minister Wang Yi at the 51st ASEAN Foreign Ministers Meeting in Singapore on Aug. 2. (Joseph Nair/AP)

BEIJING — China’s foreign minister said Aug. 1 that U.S. threats to hike tariffs run against the trend toward globalization and will hurt U.S. businesses and consumers.

Joe McDonald and Annabelle Liang | Associated Press
August 2, 2018
Government, Business

Major Car Exporters Weigh Response to Trump’s Threat of Tariffs

Toyotas being checked before loading at Yokohama port In this 2014 file photo, a man checks Toyota cars parked before being loaded onto a cargo ship for export at Yokohama port in Japan. (Koji Sasahara/AP)

Trade officials from the world’s top car-exporting nations agreed to respond if President Donald Trump slaps new U.S. tariffs on autos and auto parts.

Bryce Baschuk | Bloomberg News
August 1, 2018
Government, Business, Editorial

Editorial: Turning Wheels and Trade Deals

It’s quarterly earnings season, a time of year when the Transport Topics business reporting team is immersed in revenue figures and profit-and-loss numbers. Based on the numbers for the second quarter, the industry is doing pretty well.

Transport Topics
July 26, 2018
Government, Business

Automakers’ Savings on Tax Cuts Could Be Wiped Out by Tariffs

Steel factory in Germany AP

Corporate America warned President Donald Trump that his trade war could end up erasing some of the savings reaped from the sharp cut in the corporate tax rate. The steel and aluminum tariffs could eat up anywhere from about a third to well more than half of the tax benefits in 2018, a Bloomberg analysis shows.

Laura Davison and Alexa N. Green | Bloomberg News
July 24, 2018
Government, Business

Mnuchin Shift to Trade Warrior Makes Him Likely G-20 Target

Johnny Louis/Sipa USA

The U.S. Treasury Department has gone from economic diplomats to trade warriors, a shift that leaves Secretary Steven Mnuchin once again exposed to broadsides from global counterparts as tensions grow ahead of a multilateral summit.

Saleha Mohsin and Theophilos Argitis | Bloomberg News
July 20, 2018
Business, Logistics

World’s Biggest Shipping Market Booms as Trade War Shrugged Off

Anthony Kwan/Bloomberg News

Whether it’s the price of hiring giant freighters to haul hundreds of millions of tons a year of iron ore and coal, or smaller carriers moving grains, there’s a theme emerging: dry- bulk shipping rates are rallying despite an escalating trade war that may yet damage China’s economy.

Alaric Nightingale | Bloomberg News
July 6, 2018
Government, Business

Trade Deficit Narrows to Smallest Since 2016 on Soybean Exports

SeongJoon Cho/Bloomberg News

The U.S. trade deficit narrowed in May to its smallest since October 2016 on a jump in exports of soybeans and aircraft amid the threat of retaliatory tariffs.

Sho Chandra | Bloomberg News
July 6, 2018
Government, Business, Logistics

Commerce Secretary Wilbur Ross Says It’s a ‘Little Premature’ to Discuss US WTO Exit

Andrew Harrer/Bloomberg News

Commerce Secretary Wilbur Ross said it’s a “little premature” to discuss the U.S. withdrawing from the World Trade Organization as the Trump administration continues to look at ways to improve the global trade body.

Kasia Klimasinska | Bloomberg News
July 2, 2018
Government, Business, Equipment, TCA

Mack Trucks: Trump’s Tariffs Could Put Us at a Competitive Disadvantage

Sporting an "I Love Trucks" button, President Donald Trump speaks meets with truckers and industry CEOs regarding healthcare, March 23, 2017, in the Cabinet Room of the White House. (AP Photo/Andrew Harnik)

Back on March 23, 2017, President Donald Trump welcomed trucking industry representatives to the White House for a discussion on health care. During their visit, Trump, wearing an “I [heart] truckers” pin, climbed into the cab of a Mack truck parked on the lawn, pumped his fists and pretended to drive the stationary big rig.

Jon Harris | The Morning Call (Allentown, Pa.)
June 28, 2018
Government, Business, Logistics

Trade War Shows Signs of Impact in US Exports, Durables Data

Alabama State Port Authority

Some economists are detecting signs in data that trade tensions are having an impact on American companies.

Katia Dmitrieva | Bloomberg News
June 27, 2018