Tariffs News

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…

While tariffs are forcing American families to pay 12% more for their washing machines, 12 members of Congress from Ohio—from both sides of the political aisle—are urging President Donald Trump to maintain tariffs on washers. These tariffs, which range from 20% to 50%, were imposed back in January 2018 after an investigation that determined the…

The long U.S.-China trade war is about to hit another mile marker. New tariffs, announced in May on $200 billion worth of imports from China, and $60 billion worth of exports to China, go into effect June 1. Tariffs are a tax on American consumers and businesses, and the administration has already begun a process…

Last July, the U.S. Department of Agriculture announced that it was going to provide $12 billion in aid to help farmers with the “trade damage” from numerous trade disputes. That was supposed to be a one-time relief package, but there was little reason at that time to think it would stop with the $12 billion….

It’s crunch time in U.S.-China negotiations, and President Donald Trump may have just thrown negotiators under the bus. Over the weekend, Trump tweeted that perhaps trade talks with China aren’t going as well as we’ve been led to believe. This prompted domestic and international markets to respond with pessimism. For almost a year now, tariffs…

Each year, the Council of Economic Advisers releases the “Economic Report of the President,” which assesses the state of the U.S. economy and the impact of the current administration’s policies. The 2019 report was published this week, and it contains valuable information on the economic effects of the Trump administration’s approach to trade. According to…

Last year, the Trump administration implemented a three-year tariff rate quota on residential washing machines and parts. The tariffs were implemented because the government determined that washer imports were injuring Whirlpool Corp., the petitioning company and primary domestic manufacturer. The U.S. International Trade Commission recently initiated an investigation to monitor the impact of the tariffs….

“Reciprocal trade policy” sounds good in theory, but the proposed Reciprocal Trade Act sounds less like the golden rule—“Do unto others as you would have them do unto you” (Matt. 7:12)—than the ancient Code of Hammurabi: “An eye for an eye, a tooth for a tooth.” The U.S. Reciprocal Trade Act would cause unnecessary, self-inflicted…

In recent days, reports have surfaced highlighting the potential long-term impacts of tariffs imposed by the Trump administration over the last year. Economic growth could drag and close to a million jobs hang in the balance if the trade disputes, particularly with China, persist. The Congressional Budget Office, in its annual budget and economic outlook,…

“Buy American” is a popular slogan with a lot of appeal for the American public. Its focus on U.S.-made goods seems to emphasize our country’s jobs and economic stability. But “Buy American” policies may not always make America’s economy great again, as they have the ability to thwart the dynamic gains from international trade—a key…

A recent report may shed some light on the next round of the U.S.-China trade war. According to Bloomberg, President Donald Trump will place new taxes on $257 billion of imports from China if he doesn’t walk away satisfied from his meeting with Chinese President Xi Jinping at the end of November. However, that contradicts…

Pennsylvania-based American Keg, the only U.S. company that makes beer kegs, has been sobered by the results of President Donald Trump’s recent tariffs on imported steel. CEO Paul Czachor, who came to Washington earlier this year to seek tariffs on Chinese keg makers, says on his company website that the steel on which his company…

American newspapers, their workers, and readers dodged a protectionist bullet last week when the U.S. International Trade Commission unanimously blocked the Trump administration from imposing tariffs on Canadian newsprint. The Commerce Department had proposed the tariffs in the belief that Canadian paper producers were dumping product in the U.S. at unfair prices. It came to…

It’s not rocket science: Economists understand that tariffs harm both the exporting country and the importing country. Retaliatory tariffs do the same thing. Yet too many foreign policymakers, after rightly warning of the harmful economic consequences of new U.S. tariffs on steel and aluminum, imposed retaliatory tariffs of their own. That’s bad—but much worse would…

The Trump administration is planning to spend as much as $12 billion in aid to help farmers hurt by the administration’s tariffs. By acknowledging the need for aid to farmers, the Trump administration is admitting that its tariff strategy is hurting Americans. There are multiple reasons why providing aid to farmers to offset the effects…

Article I of the Constitution states that Congress has the power “to regulate Commerce with foreign Nations,” but for decades members of this body have irresponsibly shirked that authority. That may be changing now. On Wednesday, 88 Senators expressed their support for the vital role of Congress in determining trade policy following months of new…