trade war

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China Hikes Tariffs on US Imports to 125%

Beijing says Trump's tariffs will 'become a joke in the history of the world economy'

(Newser) - China has once again responded to President Trump's tariffs with countermeasures, but it says this will be the last time. Beijing said Friday that it is raising tariffs on US imports from 84% to 125% starting Saturday, the AP reports. On Thursday, the White House confirmed that a 125%...

Trade War Could Already Be Affecting Christmas

Chinese producers of decorations say they're not getting the usual orders from US clients

(Newser) - April generally isn't peak season for Grinchy activity, but President Trump's tariffs may have already ruined Christmas for some Chinese exporters and their American customers. Producers of Christmas decorations in China say US buyers are normally finalizing their orders at this time of year, but with the trade...

Trump's Tariffs Prod Delta to Yank Its 2025 Guidance

The airline had originally expected best financial year ever

(Newser) - As trade tensions ripple through the economy, Delta Air Lines yanked its full-year guidance on Wednesday. CNBC sees it as a big "shift" for the country's most profitable airline, which had initially expected the "best financial year in our history." In March it trimmed its...

Trump's Advice to Americans on Tariffs: 'Be Cool'

Also, buy stocks and reshore your company

(Newser) - Consumer confidence is sinking , China and the EU have introduced retaliatory tariffs within the last few hours, and JPMorgan CEO Jamie Dimon says we're likely spiraling toward a recession . The president's response? "Be cool." President Trump took to Truth Social Wednesday morning to share the following:...

White House: 104% China Tariff Will Take Effect at Midnight

But Trump 'believes that Xi and China want to make a deal,' Leavitt says

(Newser) - Unless one side or the other blinks in the hours ahead, new American tariffs on imports from China will kick in at a minute past midnight. The White House confirmed Tuesday that tariffs of 104% will be imposed at 12:01am Wednesday, CNBC reports. Trump threatened to impose an extra...

China Announces Massive Tariffs on All US Imports

34% tariffs match Trump's new tariffs

(Newser) - China has fired back at President Trump's "reciprocal" tariffs with massive tariffs on imports from the US. The state-run Xinhua news agency said Friday that China will impose additional tariffs of 34% on all US imports—matching the new tariffs Trump announced Wednesday—starting Thursday. Stocks in Europe...

Trump on Call With Canada's Carney: 'Extremely Productive'

'We agree on many things,' US president said after call with new PM, amid tense tariff wars

(Newser) - US President Trump and Canadian Prime Minister Mark Carney hopped on the horn on Friday amid the two nations' escalating trade war, with the former calling the conversation "extremely productive," reports Bloomberg . "We agree on many things, and will be meeting immediately after Canada's upcoming Election...

Canada-US Flight Bookings Have 'Collapsed'

Analytics firms says booking are down around 70%

(Newser) - There might be a lot of empty seats on flights from Canada to the US this summer. Canadians have been canceling trips south of the border amid the trade war and President Trump's repeated remarks about making their country the 51st state, and flight bookings have "collapsed,"...

With Trump's Tariffs Now Live, Canada Hits Back

Its move follows a similar one from the EU

(Newser) - It's a double-whammy Wednesday on the retaliatory-tariffs front: Hours after the EU rolled out new duties on goods ranging from motorcycles to bourbon , Canada followed suit. The country said Wednesday that it plans to impose 25% reciprocal tariffs on roughly $21 billion of imports from the US. The move...

Ford Suspends Tariff After 'Olive Branch' From US

Ontario leader says he has been invited to Washington, DC for trade talks

(Newser) - Ontario Premier Doug Ford, saying "both parties are heated and the temperature needs to come down," has suspended the Canadian province's 25% surcharge on electricity exports to the US. Ford, who vowed to be "relentless" earlier Tuesday after President Trump said he would double US tariffs...

Canadian Province Slaps 25% Tariff on Power to US

'We will not back down,' says Ontario Premier Doug Ford

(Newser) - Ontario Premier Doug Ford slapped a 25% tariff on electricity exports to the US on Monday, estimating that it would add almost $70 US to the monthly bills of many homes and businesses in New York, Michigan, and Minnesota. Ford said the surcharge would bring in up to $400,000...

China Ready for 'Trade War, or Any Other Type of War'

'Bullying does not work on us,' foreign ministry spokesman says after Trump doubles tariffs

(Newser) - Some tough talk from China in response to President Trump's tariffs: "If war is what the US wants, be it a tariff war, a trade war, or any other type of war, we're ready to fight till the end," foreign ministry spokesman Lin Jian said Tuesday...

'We Want to Inflict as Much Pain as We Possibly Can'

Ontario Premier Doug Ford threatens to cut off electricity to the US in response to Trump tariffs

(Newser) - The leader of Canada's most populous province has vowed to "inflict as much pain as we possibly can" to retaliate against President Trump's tariffs . Ontario Premier Doug Ford said Tuesday that if the 25% tariffs on Canadian imports persist, he will slap a 25% surcharge on electricity...

Musk to US: You Owe Me Tariff Money, Plus Interest

Tesla, other major automakers suing the government over trade war with China

(Newser) - Elon Musk isn't just calling for the US to end new tariffs on Chinese products—he wants a refund for the money's he already paid, plus interest. Musk's car company, Tesla, filed a lawsuit against the US this week over the import tariffs, as did automakers Ford,...

US, China Near &#39;BIG DEAL&#39;
US, China Near 'BIG DEAL'
Dec 12, 2019 2:47 PM CST

US, China Near 'BIG DEAL'

President Trump needs to give final approval

(Newser) - The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war, the AP reports. "We're close to a deal,'' said Myron Brilliant, the US Chamber of Commerce's...

China, US Enter &#39;Tech Cold War&#39;
China Bans
Foreign
Computers
Dec 9, 2019 12:00 PM CST

China Bans Foreign Computers

By 2022, all foreign tech must be out of government offices and public institutions

(Newser) - Within three years, there won't be a Dell computer or Microsoft software to be found inside China's government offices. Beijing has ordered all foreign computer equipment and software be eliminated from government offices and public institutions by 2022, reports the Guardian , which notes the move will likely be...

Exxon Mobil Profit Falls 49%
Profits Plunge for Exxon Mobil
Nov 2, 2019 10:00 AM CDT

Profits Plunge for Exxon Mobil

But the Texas oil giant still reported over $3B in profits for the third quarter

(Newser) - Exxon Mobil's profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas, the AP reports. The Texas oil giant reported $3.17 billion in profits in the third quarter Friday, down 49% from the same time last year....

Chile Cancels Summit Where US, China Hoped to Sign Deal

White House says it wants to sign first phase of deal anyway

(Newser) - The White House says it wants to sign the first phase of a new China trade deal next month even though the summit where it was to have happened has been cancelled. President Trump was to travel to Santiago, Chile, in November to sign the preliminary agreement with China's...

China and Trump Exchange Goodwill Gestures on Tariffs

President postpones increase for two weeks

(Newser) - At China's request, President Trump said Wednesday that the increase in tariffs on $250 billion in Chinese exports will be moved from Oct. 1 to Oct. 15. Trump said the request was made "due to the fact that the People's Republic of China will be celebrating their...

Trump: China Called, and 'They Want to Make a Deal'

President praises 'very positive development' in trade war

(Newser) - President Trump is beginning the new week with positive words about China and leader Xi Jinping, after last week ended with acrimony and market tumult. Trump told reporters at the G-7 summit that Chinese officials called and "they want to make a deal," reports the Wall Street Journal ...

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