It Is Happening Every Day, Every Where
Retaliatory tariffs are hitting U.S. farmers hard, particularly in states that voted for Trump. Ana Swanson, an Iowa native who covers trade and international economics for The New York Times, explains how retaliatory measures from countries like China and Canada affect the agriculture industry and what it means for the economy.
The gains couldn’t overcome steep losses earlier in the week, and the S&P 500 remained in negative territory. President Trump’s tariff policy kept markets on edge.
Energy executives meeting in Houston expressed concerns about President Trump’s trade and economic policy even as they praised him and his administration.
Trade wars with allies could spiral as the president tries to get trading partners to back down from retaliation with new threats of his own.
Industry representatives warned that a 200 percent tax on European wines and spirits would halt shipments to the United States and wipe €4 billion off France’s trade balance.
The president said he would impose the levies if the European Union does not walk back plans to place retaliatory tariffs on whiskey and other U.S. products.
The president offers many reasons for imposing tariffs, including revenue, leverage over competitors and job creation. But history suggests a more complex history.
In a meeting with Ireland’s prime minister, President Trump gave no hint of backing down from actions that have caused fissures in the trans-Atlantic alliance.
Economists are bracing for intensifying price pressures and slower growth, posing a challenge for the Federal Reserve.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.