Tariffs

[phkrause]

U.S. companies are stocking up to cushion incoming Trump tariffs

Economists warn that the tariffs promised by President-elect Trump will be a drag on the economy. For now, attempts to get ahead of tariffs might be a meaningful, if fleeting, boost to growth.

https://www.axios.com/2024/11/21/trump-tariffs-imports-gdp?

Are tariffs good or bad for the economy? Research says they can be bad for the supply chain

America, it seems, can't quit tariffs. Like corduroy and round glasses, these short-term taxes sometimes fall out of fashion. But before you know it, they're back in style – a quick fix deployed whenever foreign competitors seize a competitive advantage.

https://www.axios.com/2024/11/21/trump-tariffs-imports-gdp?

Trump's Proposed Tariffs: What Are They, and How Would They Affect US Economy?

The tariffs former U.S. President Donald Trump put in place, maintained by President Joe Biden, filtered down to consumers and increased their yearly expenses, acting like a sales tax. Various economic models have shown that consumers have "borne the brunt" of this protectionist measure, with the lowest-income households paying the largest proportion of their income. Geographically, economists have found that Republican counties were most negatively affected. Economists expect Trump's proposed additional tariffs, should he be reelected, to act in much the same way.

https://www.snopes.com/news/2024/09/19/trump-tariffs-explainer/

[phkrause]

Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1

President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers.

https://www.cnn.com/2024/11/25/politics/trump-tariffs-mexico-canada-china

 

Trump tariffs

President-elect Donald Trump on Monday promised the US will charge a 25% tax on all goods from Canada and Mexico starting on the first day of his administration. Similarly, Trump said that China will face higher tariffs on its goods — by 10% above any existing tariffs — until it prevents the flow of illegal drugs into the US. The policy change, if enacted, could wreak havoc on America's supply chains and industries reliant on goods from the country's closest trading partners. Although Trump has repeatedly said targeted foreign countries pay the tariffs, they are in fact paid by companies that purchase the imported goods — and those costs are typically passed onto American consumers. Most mainstream economists believe tariffs will be inflationary and could cost the typical US household over $2,600 a year.

[phkrause]

? Trump tariff dance starts early

Illustration: Sarah Grillo/Axios

President-elect Trump's inauguration is 54 days away. But he's getting an early start in bringing a more uncertain time to global economic relations, Axios Macro co-author Neil Irwin writes. Why it matters: Trump's announcement on Monday that he'll slap a 25% tariff on all Canadian and Mexican imports on the first day of his term was both a warning about the direction trade policy will take, and a reminder of the perils of taking his words too literally. Both the market reaction and response from the Canadian government reflected a view that Trump's Truth Social post was but a first step in negotiations — one that could ultimately yield something less damaging to global commerce. Traders and diplomats alike have learned from Trump's previous four years in the White House the value of taking a deep breath — and waiting for details and negotiation — before overreacting to social media blasts. While Canadian and Mexican stocks were down, the drops were hardly of the scale you might expect if you thought there was about to be a deep freeze on trade within North America. Keep reading.

[phkrause]

Tariffs

Trade is a key issue for President-elect Donald Trump, who has promised to slap new tariffs on goods from Mexico, Canada and China starting on the first day of his administration. Mexican President Claudia Sheinbaum responded Wednesday, saying that "neither threats nor tariffs" will solve the immigration or illegal drug issues in the US. Sheinbaum added that the economic strength of North America lies in maintaining the business relationship between the two countries, which allows them to be more competitive compared to other economic blocs. If Trump follows through with his tariff plan, several common goods will get more expensive for Americans, including gas, produce, cars and alcohol, economists say.

ps:"Trade" is his key issue????? Really??? It's pretty obvious it's not!!!!!

[phkrause]

Canada is already examining tariffs on certain US items following Trump’s tariff threat

TORONTO (AP) — Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday.

https://apnews.com/article/canada-trump-tariffs-trudeau-c741393c2f7c7545e9714839cfbbda45?

[phkrause]

Canada’s Trudeau returns home after Trump meeting without assurances that tariffs are off the table

WEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau returned home Saturday after his meeting with Donald Trump without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks “productive” but signaled no retreat from a pledge that Canada says unfairly lumps it in with Mexico over the flow of drugs and migrants into the United States.

https://apnews.com/article/trudeau-trump-canada-tariffs-mexico-border-e0ee7f9b3dddc80d1260585c11869fff?

[phkrause]

Donald Trump promised to bring down prices, but experts say his tariff plans will do the opposite

President-elect Donald Trump has promised to bring down prices on groceries, rent and other basic necessities of life.

https://floridaphoenix.com/2024/11/29/donald-trump-promised-to-bring-down-prices-but-experts-say-his-tariff-plans-will-do-the-opposite/?

[phkrause]

Trump’s tariffs

The incoming president’s plan to tax imported goods could change what products customers find on the shelves at Dollar Tree and other stores. The discount chain said it might need to raise prices again from their current level of $1.25.

[phkrause]

Tariffs guarantee higher prices for Americans who believe they are too high already

Fans of the movie, “Ferris Bueller’s Day Off,” will remember the scene. Ben Stein plays a famously boring high school teacher giving a lecture about economics to a room full of teenagers fighting to stay awake. In about a minute, he covers the Smoot-Hawley Tariff Act and the Laffer Curve, fundamental economic topics, desperately trying to get the students to engage with him.

https://ohiocapitaljournal.com/2024/12/04/tariffs-guarantee-higher-prices-for-americans-who-believe-they-are-too-high-already/?

[bonnie1962]

On 11/28/2024 at 2:30 PM, phkrause said:

Tariffs

Trade is a key issue for President-elect Donald Trump, who has promised to slap new tariffs on goods from Mexico, Canada and China starting on the first day of his administration. Mexican President Claudia Sheinbaum responded Wednesday, saying that "neither threats nor tariffs" will solve the immigration or illegal drug issues in the US. Sheinbaum added that the economic strength of North America lies in maintaining the business relationship between the two countries, which allows them to be more competitive compared to other economic blocs. If Trump follows through with his tariff plan, several common goods will get more expensive for Americans, including gas, produce, cars and alcohol, economists say.

ps:"Trade" is his key issue????? Really??? It's pretty obvious it's not!!!!!

This mass hysteria must be infectious . Lacking the crystal ball that some have access to I am going to have to sift thru the hysterical rantings of those  that suffer from Trump Derangement Syndrome  .  Will there be Tariffs?, Possibly. I don't know ,neither does anyone else at least based on the actual statement made.  There may be other more definite statements but I have heard this statement more than once . 

Trump has threatened to impose 25% tariffs on goods from Canada and Mexico unless they stem the flow of migrants and drugs.

 

So what will it be? 

 

 

[phkrause]

Trump’s Tariffs Will Create a Hunger Games Landscape Where the Little Guy Is Guaranteed to Lose

A banner 2024 whet the appetites of banks and crypto bros. Now the largest companies are salivating over Trump’s economic policies.

https://theintercept.com/2025/01/02/trump-tariffs-small-business/?

[phkrause]

Trump tariff winners

Illustration: Aïda Amer/Axios

Several major U.S. manufacturing sectors are primed to be clear winners under President-elect Trump's tariff plans — even if consumers take a hit, Axios managing editor for business Ben Berkowitz writes. Think of it as Trump's critical U.S. products protection plan. At the top of the list: defense-related minerals, medical supplies, and power generation and storage. Why it matters: By making cheap foreign imports more expensive, Trump's tariffs are expected to incentivize domestic manufacturers to expand. ?️ The big picture: A lot of what's crucial to American industry and society either isn't made here, or isn't made in enough quantity to fill demand, or is made here but at much higher cost than overseas. Trump's looking toward a blunt-force fix: Make foreign products so expensive that there's profit to be made by making them here instead. ? Zoom in: Two very specific industries would potentially win quickly. 1. Energy production — from rare-earth minerals to finished products like solar panels and batteries — would benefit under Trump, who in October called tariff "the most beautiful word in the dictionary ... my favorite word." The rare-earths supply chain, including 17 metallic elements critical to electronics, is a huge concern for both military and civilian applications. The GAO said in September these minerals are in short supply, and the Pentagon hasn't moved quickly enough to ensure they're not being sold to adversaries. A Chinese export ban in December only raises the stakes for boosting production. 2. Makers of critical medical supplies, including vials and syringes, are also potential big winners. The U.S. medical supply industry is already under pressure, with multiple single points of failure, and plenty of low-cost international competition. Just last fall, Hurricane Helene took out a North Carolina plant owned by Baxter that produced about half of all the IVs used in U.S. hospitals. A tariff regime could make it financially viable for more companies like Baxter, Medtronic and Stryker to make more medical products at home for local use. ? Reality check: Some industries look like winners but probably aren't, at least initially. The industrial supply chain would appear to benefit from tariffs on metals like steel and copper, but as Trump's first-term levies proved, sometimes that production just moves to another low-cost country. When Trump imposed steel tariffs in 2018, production simply shifted to other nations, rather than being re-shored in any significant way. ? Between the lines: The Washington Post's Jeff Stein yesterday pointed to the industries highlighted in this item as "key sectors that the Trump team wants to bring back to the United States." Trump vehemently denied that his "tariff policy will be pared back."

[phkrause]

? Tariff threats freeze automakers

Illustration: Allie Carl/Axios

DETROIT — The auto industry, more than any other, is caught in the crosshairs of President Trump's burgeoning trade war, Axios' Joann Muller reports. Why it matters: At the very moment automakers need to be placing huge, multibillion-dollar bets on the future, they're instead caught in a "will he or won't he" limbo over tariffs. As they await more clarity, they're pausing or delaying huge investment decisions, increasing the risk they'll fall behind faster-moving Chinese rivals. ? Zoom in: Prolonged tariffs on trade with Canada and Mexico, plus additional levies on steel and aluminum imports, would deliver a multibillion-dollar hit to U.S. automakers, according to credit analysts at S&P Global Ratings. There's also an invisible cost: the risk of delayed development of future vehicle programs. ? What we're watching: Ford is delaying the launch of its next-generation F-150 pickup from 2027 until mid-2028, Crain's Detroit Business, an affiliate of Automotive News, scooped this week. Ford declined to comment on "speculation" about future products, but delaying a makeover of the F-150, its biggest money-maker, would be extraordinary. GM CFO Paul Jacobson said this week that if U.S. tariffs became permanent, the automaker would have to consider moving plants. Keep reading.

[phkrause]

? Charted: Trade war toll

Data: OECD. Chart: Axios Visuals The trade war is already expected to increase inflation and dampen growth — and it could get even worse if tariffs rise more, Axios' Ben Berkowitz writes from new economic projections. The OECD modeled a scenario where the U.S. raises tariffs another 10%, and all other countries respond with a similar counter-tariff. Three years out, all major economies and economic areas would see lower growth than they would have otherwise — with the biggest impacts to Mexico and the U.S.

[phkrause]

? Where wine tariffs would hit hardest

Data: American Association of Wine Economists. Map: Axios Visuals Importers spent $6.8 billion bringing wine into the U.S. last year, 80% of which went to European producers, Axios' Felix Salmon reports. Why it matters: President Trump's threatened 200% tariffs on European wine could bring that number to near zero, with devastating consequences for importers, distributors, retailers and more. ? "It's a financial death sentence," says wine importer Lyle Fass. ? Millions of dollars' worth of wine is already paid for and on U.S.-bound ships, Fass says. ? If those imports are suddenly hit with 200% tariffs on arrival, most importers simply won't have the money to pay what they owe. Go deeper.

[phkrause]

?️ Oil execs vent on tariffs

Illustration: Aïda Amer/Axios

Executives in the heart of the U.S. oil patch offered a brutal — if anonymous — verdict on Trump 2.0 trade policies and the uncertainty they create for producers, Axios' Ben Geman writes from a Dallas Fed survey. "'Drill, baby, drill' is ... a myth and populist rallying cry. Tariff policy is impossible for us to predict and doesn't have a clear goal," said one exec who was quoted anonymously. "Uncertainty around tariffs and trade policy continues to negatively impact our business, both for mid- to long-term planning and near-term costs," said another. The other side: Taylor Rogers, a White House spokesperson, noted that Trump met last week with a large group of industry execs "who are eager to unleash American energy after four years of Biden's radical climate agenda." Keep reading ...

[phkrause]

Canada-funded billboards warn Central Florida: ‘Tariffs are a tax’

WINTER SPRINGS — Canada is taking its fight against President Donald Trump’s tariffs to Florida’s highways.

https://www.orlandosentinel.com/2025/03/31/canada-funded-billboards-warn-central-florida-tariffs-are-a-tax/?

[phkrause]

?️ Tariff shopping spree

Illustration: Eniola Odetunde/Axios

Some consumers are scrambling to make big-ticket purchases like laptops and cars before tariffs are slated to kick in next week, AP reports: John Gutierrez said he's been eyeing a new laptop for a year. He ended up ordering one Wednesday, the same day President Trump announced tariffs. Rob Blackwell of Arlington, Va., said he's been wanting a Cadillac OPTIQ, an electric SUV made in Mexico — subject to tariffs on supply chains that might increase the cost. After hearing that tariffs would be announced, he made plans the weekend before to lease this OPTIQ. Keep reading.

[phkrause]

?Tariffs could lead to thrift boom

Illustration: Gabriella Turrisi/Axios

Soaring clothing prices from Trump's tariffs will likely send shoppers thrifting, Axios' Sareen Habeshian reports. Why it matters: Clothing imports stand to take a huge hit. The U.S. imports nearly all of its clothing and shoes — more than half from China (facing tariffs of up to 104%), Vietnam (46%) and Bangladesh (37%). ?"We've seen that when supply chain disruptions occur and popular items become more scarce, people often turn toward secondhand options to get what they need at prices they can afford," said Ken Murphy, chief innovation officer at peer-to-peer marketplace OfferUp. ??The latest: Trump is tripling tariffs affecting low-cost retailers like Temu and Shein. Packages valued at less than $800 enjoyed a "de minimis" exemption from added duties, which has enabled foreign online retailers to sell super-cheap items to American consumers.

[phkrause]

Tariffs

While you were sleeping, President Donald Trump escalated his trade war with the world. The midnight hour brought even more tariffs for countries on the administration's list of "worst offenders.” China was hit particularly hard by the “reciprocal” tariffs for not backing down on its promise to impose a 34% retaliatory tariff on US goods. Exports from China will now be subject to at least a 104% tariff. Beijing has already vowed to respond with “resolute and effective measures.” These new tariffs come one week after Trump’s “Liberation Day,” when he imposed a 10% tariff on all countries’ imports, with the exception of Mexico and Canada. Those tariffs angered longtime allies and trade partners, rattled global financial markets and prompted mass layoffs. Even some of the president’s biggest supporters have encouraged him to back off his signature economic policy. 

[phkrause]

? Charted: U.S. tariffs vs. the world

America's tariff rate is now the second-highest in the world, behind Bermuda, after President Trump implemented a 90-day pause, University of Michigan economist Justin Wolfers tells Axios' Erica Pandey. For roughly 13 hours on Wednesday, they were the highest. Why it matters: U.S. rates are still higher than the Depression-era Smoot-Hawley tariffs. The other nations with high tariffs are "mostly small, developing and politically unstable countries," Wolfers says.

[phkrause]

Retail sales surged in March as Americans rushed to beat Trump’s tariffs

Spending at US retailers skyrocketed last month at the strongest monthly pace in more than two years as Americans rushed to beat President Donald Trump’s massive tariff hikes.

https://www.cnn.com/2025/04/16/business/retail-sales-march-tariffs

[phkrause]

Strollers and other baby products will get more expensive – and harder to find – with tariffs

Sam Rutledge and his wife have a baby due in mid-July, so they thought they had a few more months to research and buy the gear they’ll need.

https://apnews.com/article/baby-products-tariffs-strollers-car-seats-96496556c8913f521021d0c165eca977?

[phkrause]

Microsoft raises Xbox prices due to tariffs

Microsoft raised the recommended retail prices of its Xbox video game consoles and some controllers globally, the company announced on Thursday.

https://www.axios.com/2025/05/01/xbox-price-increase-trump-tariffs-microsoft?

[phkrause]

Microsoft hikes Xbox prices worldwide as gaming industry faces tariff uncertainty

Amid a backdrop of ongoing tariff uncertainty, more and more gamers are facing price hikes. Beyond the U.S., Microsoft also laid out Xbox price adjustments for Europe, the U.K. and Australia. Read More.