For years, countries like Vietnam, Cambodia and Thailand have worked to turn themselves into alternatives to China for factories making the bags, electronics, shoes and auto parts that eventually end up in the United States. That is now poised to change after President Trump on Wednesday aimed his most punishing tariffs at countries in Southeast … Read more
Here is how some of the United States’ key trading partners responded on Thursday to President Trump’s stiff new tariffs: China: The Commerce Ministry in Beijing vowed countermeasures against the sweeping new tariffs, which it described as “unilateral bullying.” The Trump administration hit Beijing with a new 34 percent duty that will be added to … Read more
How the tariffs are going down President Trump on Wednesday described his sweeping barrage of tariffs on about 60 countries, unveiled with great pomp in the Rose Garden, as “kind.” The global response to the reciprocal tariffs — including an additional 34 percent levy on goods from China and 20 percent on those from the … Read more
When President Trump unveiled major new tariffs on Wednesday, one big economy that he did not target was Russia. Treasury Secretary Scott Bessent told Fox News on Wednesday that Moscow was spared because sanctions imposed on the country after its full-scale invasion of Ukraine in 2022 mean that U.S.-Russian trade had effectively stopped. North Korea, … Read more
Germany had hoped that a new government would revive its stagnant economy, but President Trump’s sweeping new tariffs are stoking worries that Europe’s biggest economy will fall short of its 0.3 percent growth expectations this year. Jörg Kukies, Germany’s finance minister, met with the U.S. Treasury secretary, Scott Bessent, and U.S. trade representatives in Washington … Read more
Laptop computers from Taiwan, wine from Italy, frozen shrimp from India, Nike sneakers from Vietnam and Irish butter. These products are found in homes across the United States, a testament to America’s enduring role as a champion of free trade and its standing as the most lucrative market for goods from around the world. They … Read more
President Trump’s imposition of tariffs on a scale unseen in nearly a century is more than a shot across the bow at U.S. trading partners. If kept in place, the import taxes will also launch an economic project of defiant nostalgia: an attempt to reclaim America’s place as a dominant manufacturing power. In the postwar … Read more
Dear Tripped Up, Last Sept. 26, I booked a ski trip for my family at a Sheraton Vacation Club property in Steamboat Springs, Colo., for December — or so I thought. As soon as I saw the confirmation email, I realized I had actually booked a reservation for that very night, Sept. 26. I assume … Read more
After being smacked with double-digit percentage tariffs by a key ally, Japan finds itself with few retaliatory options. Since President Trump began threatening broad tariffs in January, Japan has pursued a conciliatory strategy, with Prime Minister Shigeru Ishiba pledging in February to boost U.S. investment to $1 trillion. Up until the day before Mr. Trump’s … Read more
Tariffs on imported vehicles took effect Wednesday, a policy that President Trump said would spur investments and jobs in the United States but that analysts say will raise new car prices by thousands of dollars. The 25 percent duty applies to all cars assembled outside the United States. Starting May 3, the tariff will also … Read more