Global backlash grows to Trump’s tariff threats – CBS News Watch CBS News President Trump on Thursday threatened to impose a 35% tariff on Canadian goods beginning Aug. 1. Mr. Trump’s latest salvo came after he also threatened tariffs on a number of other countries earlier in the week, including Japan and South Korea. Kelly…
The United States should not use tariffs to bully other countries, China said on Friday, as U.S. Secretary of State Marco Rubio played down the possibility that tariffs could enable China to forge closer ties with angry U.S. allies. Rubio, in Malaysia for a Southeast Asian regional meeting, said he had positive talks with his…
By Lisa Baertlein LOS ANGELES (Reuters) -U.S. seaport operators are asking for extra time to implement pending tariffs on towering ship-to-shore cranes as they expect President Donald Trump’s administration to follow through on a promise to essentially ban that vital cargo-handling equipment. The United States Trade Representative (USTR) earlier this year proposed tariffs of up…
The Shanghai Composite index was barely changed, holding at 3,510.18. (Reuters pic) HONG KONG: China stocks gave up most of their gains and closed flat today, weighed down by a drop in bank shares, while Hong Kong shares held on to gains after a Goldman upgrade. At market close, the Shanghai Composite index was barely…
President Donald Trump reignited America’s on-again, off-again trade war with Canada on Thursday in a catty letter to Prime Minister Mark Carney. Trump threatened to impose a 35 percent tariff on Canadian goods beginning Aug. 1 unless Canada decides to build or manufacture its products in the U.S. The letter to Carney was part of…
L.A. port head says lower cargo volume could impact holiday season – CBS News Watch CBS News President Trump is escalating his global trade war, threatening new tariffs on several countries starting Aug. 1, unless deals are struck. With back-to-school and holiday shopping nearing, the move could hit store shelves hard. Jo Ling Kent reports….
U.S. textile company CEO says tariffs are “wreaking havoc” as it cuts jobs – CBS News Watch CBS News A recent report found U.S. manufacturers are still seeing a decline in orders from customers amid uncertainty over shifting tariffs. Skyler Henry spoke to a U.S. textile company CEO about what he’s up against. Be the…
President Trump on Thursday threatened to impose 35% tariffs on goods from Canada starting next month, hiking import duties on one of the U.S.’s largest trading partners. The president announced the 35% tax in a letter to Canadian Prime Minister Mark Carney posted to Truth Social, citing Canada’s alleged “failure to stop the drugs from…
Atlanta, Georgia — Pillows filled and sealed for a good night’s sleep at the Atlanta warehouse of home bedding company Standard Fiber are one of many things giving its CEO, Chad Altbaier, nightmares. “Planning is practically impossible,” Altbaier told CBS News. “Probably the most challenging time of my career.” Nevada-based Standard Fiber is the middleman…
Economist Justin Wolfers believes markets may be underestimating President Donald Trump‘s “passion for tariffs” in assuming that he will renege on his latest trade threats. Speaking to CNN on Wednesday, Wolfers, a professor of economics and public policy at the University of Michigan, said: “People have convinced themselves that Trump is going to chicken out…