Liquor lobbyists gathered in a ritzy private club on a recent rainy evening in Brussels to swill cocktails with names like “Toasts Not Tariffs” and fret over the potential disaster confronting their industry. Again. Seven years ago, the spirits industry found itself a casualty in a worldwide trade war as President Trump unleashed tariffs on…
Rows of white concrete buildings near the Pearl River in southern China house one of the world’s fastest-growing industries: Gritty workshops are churning out inexpensive clothing that is exported straight to homes and small businesses around the world. No tariffs are paid, and no customs inspections are conducted. The laborers who make these goods earn…
President Trump on Thursday set in motion a plan for new tariffs on other countries globally, an ambitious move that could shatter the rules of global trading and is likely to set off furious negotiations. The president directed his advisers to come up with new tariff levels that take into account a range of trade…
President Trump promised voters that, if elected, he would enact policies that would bring prices down on “Day 1” in office. But three weeks into his term, Mr. Trump and White House officials have become more measured in how they discuss their efforts to tame inflation. They have begun downplaying the likelihood that consumer costs…
Ford Motor could be forced to lay off employees if the Trump administration ends subsidies and other financial support for electric vehicle manufacturing, the company’s chief executive said on Tuesday. Ford has invested heavily in factories to produce batteries and electric vehicles in Ohio, Michigan, Kentucky and Tennessee, Jim Farley, the Ford chief executive, said…
The largest refinery in the Midwest will have an unpalatable choice if President Trump imposes tariffs on Canadian oil: Pay more for the crude that it transforms into gasoline and diesel, or slash production. Both options threaten to increase prices at the pump, albeit modestly if Mr. Trump sticks with the 10 percent rate he…
America has seen this movie before: President Trump, who imposed stiff tariffs on Monday on imported steel and aluminum, did so once before, in 2018. So domestic industries have a pretty good idea of how the story ends. Manufacturers of trucks, appliances and construction equipment scramble to find U.S. sources of metal inputs, keeping steel…
President Trump is poised to move forward with sweeping tariffs on foreign steel and aluminum on Monday, re-upping a policy from his first term that pleased domestic metal makers, but hurt other American industries and ignited trade wars with allies on multiple fronts. The 25 percent tariffs that the president said he would impose on…
When I returned to Windsor, Ontario, the day before President Trump was set to impose potentially devastating tariffs on exports from Canada, fear was the city’s prevailing mood. A week later, following Mr. Trump’s suspension of a 25 percent tariff on most exports and 10 percent on oil, the mood has shifted more toward anger…
To President Trump, one economic number represents everything that is wrong with the global economy: America’s trade deficit. That deficit is the total value of what the United States imports from other nations, minus its exports to other countries. The fact that America runs a trade deficit reflects how the nation’s appetite for foreign goods…
