Inglewood, California — One family’s legacy, an Italian restaurant called Sunday Gravy that’s been operating for decades, is now “barely breaking even,” owner Sol Bashirian says, as tariffs and inflation are eating into its profits. “It’s just the reality of where the food industry is at,” Bashirian told CBS News, noting he’s spending thousands of…
The newest American tiff over tariffs with China — rare earth minerals being the spanner in the wheel — could speed up the movement towards a US-India trade deal, a prominent trade-policy think tank in New Delhi has said. US President Donald Trump has been keeping a “great friend” tone towards PM Modi while his…
Iowa soybean farmer says “export to China just isn’t there” – CBS News Watch CBS News American farmers are facing financial strain as China halts purchases of U.S. soybeans. Iowa soybean farmer April Hemmes joins CBS News to discuss. Source link
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer warned on Wednesday that China’s new trade rules are part of an apparent effort to control the world’s supply chains. CBS News MoneyWatch correspondent Kelly O’Grady has more details. Source link
Gov. Tim Walz will join farmers Wednesday in southern Minnesota to highlight the local impacts of tariffs. Minnesota’s top agricultural export is soybeans, but President Trump’s recent tariffs on China are causing purchases to plummet. For soybean farmers in the U.S., China is a top export market. Last year, the country purchased over $12 billion worth…
China said that its position on trade wars remains consistent and clear—that they have no winners and are in no one’s interests—as it responded to U.S. President Donald Trump’s latest threat over soybean purchases and cooking oil. Lin Jian, spokesperson for the Chinese foreign ministry, gave Beijing’s response at a regular press briefing on Wednesday….
WASHINGTON (TNND) — Amid escalating tensions over trade disputes, Treasury Secretary Scott Bessent shared that President Donald Trump will still be meeting with Chinese President Xi Jinping before the end of month. Last Thursday, China announced greater restrictions on the export of its rare earth materials, leading Trump to announce he intended to slap a…
New tariffs on imported wood and certain wood products took effect on Tuesday. Softwood timber and lumber are now subject to 10% tariffs under a proclamation signed by President Donald Trump last month. Trump also imposed 25% import taxes on upholstered furniture, kitchen cabinets, and bathroom vanities. Those rates are slated to increase again on…
The Trump administration’s new tariffs on imported furniture, kitchen cabinets and other housewares, along with lumber, took effect Tuesday, added costs that economists say could push up prices for consumers. Mr. Trump announced the trade measures on Sept. 29, saying the levies are intended to prevent such products manufactured abroad from “flooding” the U.S. “It…
How the U.S.-China trade war could impact the cost of living for Americans – CBS News Watch CBS News As trade tensions between the U.S. and China escalate, CBS News MoneyWatch correspondent Kelly O’Grady breaks down how it could impact the cost of living for Americans. Source link