Tariffs News
The Daily Signal provides news and analysis of tariff disputes, trade wars, and their effect on industries and consumers.
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- Opinion
A Tariff Ceasefire in Time of War Would Help Everybody
TOWNHALL—Iran’s efforts to close the Strait of Hormuz have made gas prices rise to the point where they may threaten President Donald Trump’s affordability agenda. Whether the closure is short or long, consumers are feeling the pain, just as the latest economic figures show an economy that is sputtering and can use a boost. But…EJ Antoni -
- News
After Supreme Court Ruling, Tariff Refund Battle Just Beginning
The Trump administration will pay interest on refunds for global tariffs if ordered to do so, according to a court filing on Wednesday. U.S. officials have not committed to full refunds on the money collected from tariffs, as President Donald Trump has said he would find other laws to continue his tariffs. However, litigation and negotiations…Fred Lucas -
- News
US Tariff Lawsuits Returned to Trade Court to Determine Next Steps
REUTERS—A U.S. appeals court on Monday returned the lawsuits that led to most of President Donald Trump’s tariffs being struck down to the U.S. Court of International Trade, which could determine the process for refunding more than $130 billion to importers. The U.S. Court of Appeals for the Federal Circuit issued a one-page order granting the…Tom Hals -
- Analysis
A Legal Analysis of the Supreme Court’s Tariff Ruling
The Supreme Court has struck down President Donald Trump’s use of the International Emergency Economic Powers Act to impose tariffs by a vote of 6-3, with Chief Justice John Roberts writing for the majority. Notably, the majority opinion made clear: “We claim no special competence in matters of economics or foreign affairs. We claim only,…Stefan Padfield -
Tariffs Are Never a Good Idea. Those on Aluminum Are Especially Bad.
Aluminum prices are up 59% from a year ago, and America’s 10% tariffs on the metal are not relieving any headaches at beer and non-alcoholic beverage manufacturers. The tariffs were originally put in place in 2018, ostensibly to protect domestic aluminum producers. The theory was that China and other foreign producers were “dumping” aluminum into…Patrick Tyrrell -
Senate China Bill Cuts Tariffs, Increases Regulations
Earlier this month, the Senate approved the 2021 United States Innovation and Competition Act, which includes a significant trade amendment called the Trade Act of 2021. The amendment renews two tariff-cutting trade programs, the Generalized System of Preferences and the Miscellaneous Tariff Bill. While the renewal of these programs would represent a huge tax savings for…Maggie Kennon -
Steeper Tariff on Canadian Softwood Lumber Isn’t Solution
Despite lumber prices soaring to a record high of $1,670.50 per thousand board feet, and the housing market booming at a 17.2% price increase from April 2020, the U.S. Commerce Department, rather than helping, plans to impose further burdens on U.S. consumers through increased taxes on imported softwood lumber. On Friday, the Department of Commerce…Patrick Tyrrell -
Tariffs on Canadian Softwood Lumber Hitting US Homebuyers Hard
Lumber prices have gone through the roof over the past year—up 370%. The lumber needed to build a new home now costs nearly $36,000 more than just 12 months ago. The reasons include lower production levels at U.S. sawmills when the pandemic was raging, high demand for new homes as millennials enter the peak homebuying…Patrick Tyrrell -
We Shouldn’t Rinse and Repeat When It Comes to Costly Washing Machine Tariffs
Sunday was supposed to mark the end of a three-year rinse cycle for Americans, at least when it comes to higher prices for washing machines. But before leaving office, former President Donald Trump put washer tariffs on repeat for another two years. Americans have paid taxes of up to 50% on washers and their inputs…Rachael Wilfong -
Christmastime Is Not the Time to Hold Tariff-Cutting Program Hostage
After a year that was tough on businesses and consumers alike, the Christmas season could give a much-needed boost to the economy—as well as the morale of people across the country. But if a federal program that cuts tariffs is allowed to expire—thanks to political game-playing by liberals in the Senate—then the resulting spike in…Patrick Tyrrell -
Americans Do Not Need More Steel Tariffs
Commerce Secretary Wilbur Ross transmitted a report to President Donald Trump on Oct. 22 that examines the effect that imports of specialized electrical steel have had on U.S. national security. The report is the result of a request made in May by members of Congress and AK Steel, an American steelmaking company, to investigate whether…Tori K. Smith -
Congress Should Reauthorize Trade Programs That Cut Tariffs for Americans
The House of Representatives voted unanimously Sept. 22 to reauthorize the Caribbean Basin Trade Partnership Act. The act is a trade preference program that eliminates tariffs on organic chemicals and textiles, and was up for renewal by the end of September. Although reauthorization of the program is a step in the right direction, Congress missed…Rachael Wilfong -
Why Trump’s Washing Machine Tariffs Are Cronyism
President Donald Trump on Thursday visited a Whirlpool factory in Clyde, Ohio, to tout the benefits of his trade agenda for American manufacturers. Whirlpool claimed to have been injured by foreign competition in 2017 and got the administration to impose tariffs ranging from 20% to 50% on washing machines—and parts—imported by its competitors the following…Tori K. Smith -
Tariffs on Imported Oil Aren’t the Cure for the Industry’s Woes
Saudi Arabia and Russia are engaged in a price war—both increasing oil supplies at a time when world demand is precipitously dropping. To help U.S. producers, President Donald Trump has threatened to impose tariffs on imported crude oil in response. Talks between Russia and Saudi Arabia are now scheduled for Thursday, and reports indicate the…Nicolas Loris -
Why New Auto Tariffs Won’t Increase Research and Development
In just a few days, the Trump administration could impose new tariffs on automobile and auto parts imports. The administration has erroneously claimed that tariffs are a necessary national security measure, supposedly needed to safeguard the American automobile market from foreign competitors and to create space for U.S. companies to undertake additional research and development….Junsoo Kweon -
Delaying Tariffs Is Not the Answer to China’s Trade Practices
For the past two years, President Donald Trump has argued that China was paying the cost of the trade war. Following a delay in some of the tariffs from the latest round in the dispute with China, however, the president has acknowledged for the first time that tariffs have an impact on American families. “What…Yujin Kim -
Trump’s Latest Tariffs Are Putting the Economy on Edge
President Donald Trump announced last week he will add an additional 5% tariff on all Chinese products bought by Americans. This comes on top of an existing 25% tariff on $250 billion worth of products from China, and an additional tax on roughly $160 billion worth of goods is set to start Sept. 1. Given…Riley Walters -
The Proof Is In: Tariffs Are Hurting the US
The Congressional Budget Office released its updated budget outlook last week, and it confirmed what analysts have said about U.S. trade policy for the last two years: The Trump administration’s tariffs are hurting the U.S. economy. First, let’s review how these tariffs came about. In early 2018, President Donald Trump imposed tariffs on roughly $9…Tori K. Smith -
New Tariffs on China Will Translate to More Taxes on Americans
President Donald Trump last week announced he would place new tariffs—a 10% additional tax—on $300 billion worth of products Americans import from China. Starting Sept. 1, nearly every product from China will cost more because of those tariffs. Roughly 20% of U.S. imports come from China. The Trump administration started applying tariffs on imports from…Riley Walters -
Strong Jobs Numbers Won’t Last If Tariffs Continue
As the summer rolls on, the American economy is staying hot. That’s the main takeaway from the Bureau of Labor Statistics’ reports on Friday, which shows that the economy added 164,000 jobs in July. That lined up for the most part with expert predictions. The economy is showing signs of resiliency economy due to sound…Timothy Doescher