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The potential impact of tariffs varies. The Tax Foundation estimated tariffs on Mexico, Canada, and China could collectively shrink US GDP by 0.4%. They would create a tax of more than $800 per US ...
The reaction of the financial markets to the Trump tariffs provides further proof, were it needed, of the depressing effects of the new US president’s trade policy.
Trump also plans a universal tariff of 10% or so on all imports, tariffs on products from the European Union, and product-specific tariffs targeting goods such as pharmaceuticals and computer chips.
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
Mercedes-Benz (MBGAF) is gearing up for the Trump trade war by battening down the hatches on costs and boosting EV and hybrid innovations after a challenging year. But its CEO, Ola Källenius, has ...
The tariffs have invited international criticism from leaders and citizens alike in Canada and Mexico. During his exchange with reporters on Sunday evening, Trump accused Canada of being "abusive ...
President Donald Trump said Friday that a first round of tariffs on Canada, Mexico, and China will begin on his self-imposed deadline Feb. 1 but that some duties on oil and gas may be limited.
Those tariffs did cause limited harm by raising costs to some US producers. But that came at a relatively benign time for the economy, when inflation was low and the massive COVID-era supply chain ...