Tag: Trump tariffs

4 charts showing why putting tariffs on your friends is a bad idea

The following article by William Hauk, Associate Professor of Economics, University of South Carolina, was posted on the Conversation website June 6, 2018:

Europeans, Canadians and Mexicans buy more American goods and services than anyone else in the world. So why would the Trump administration be willing to start a trade war with the United States’ most important trading partners – as well as some of its oldest allies?

The current dispute started back in March, when the White House proposed tariffs on all imports of steel and aluminum on national security grounds. That led to threats of retaliation. The administration granted temporary exemptions to several key allies, including Canada, Mexico and the European Union. As of May 31, they’ve all expired, and the U.S. government decided not to renew them. Continue reading “4 charts showing why putting tariffs on your friends is a bad idea”

GOP Reaction to Trump Tariffs is Fast, Furious and Negative

The following article by Joe Williams and Niels Lesniewski was posted on the Roll Call website March 1, 2018:

Republicans fret about retaliatory action, effect on agricultural trade

Sen. Orrin G. Hatch, R-Utah, among the president’s strongest allies in the Senate, warned that imposing tariffs was akin to a tax hike. Credit: Bill Clark/CQ Roll Call file photo

Senate Republicans are calling for changes to the seldom-employed section of U.S. trade law that the Trump administration used to unilaterally impose steep new tariffs on steel and aluminum imports.

The conversations are in the preliminary stages, but build upon discussions GOP members have had for weeks regarding concerns over the White House’s trade policy.

President Donald Trump on Thursday announced that next week his administration would impose a new 10 percent tariff on aluminum imports and 25 percent tariff on steel imports. The move was met with a swift rebuke from congressional Republicans. Continue reading “GOP Reaction to Trump Tariffs is Fast, Furious and Negative”

GOP lawmakers condemn Trump’s tariff decision

The following article by Erica Werner, Heather Long and David J. Lynch was posted on the Washington Post website January 24, 2018:

President Trump imposed tariffs on imported residential washing machines and solar powered products on Jan. 23. (The Washington Post)

Prominent Republicans warned President Trump on Wednesday against taking further trade actions that could harm American workers, even as top administration officials meeting in Davos, Switzerland, rose to the defense of the president’s “America First” rhetoric on the eve of his arrival.

The blowback came as Trump moved this week to impose tariffs on imported solar panels and washing machines, incurring fierce criticism in the United States, where experts said such a move would cost jobs, and abroad, where at least one major maker of washing machines notified U.S. retailers that it would raise prices. Continue reading “GOP lawmakers condemn Trump’s tariff decision”