• A simple chart from Econ 101 shows the basic problem with Trump's new tariffs

    5 monthes ago - By Business Insider

    President Donald Trump announced his intention to institute new tariffs on aluminum and steel, ostensibly to support US jobs.
    But basic economics tells us the most fundamental consequence of a tariff will be higher prices and lower consumption for those goods, as Bank of America Merrill Lynch illustrated in a note to clients.
    President Donald Trump announced new tariffs, or import taxes, on aluminum and steel Thursday. The taxes are likely to have negative economic consequences for other industries and consumers alike, and a simple chart from Econ 101 illustrates the basic problem.
    One of...
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  • The Trump Steel Tariffs Are Economically Small and Symbolically Huge

    The Trump Steel Tariffs Are Economically Small and Symbolically Huge

    5 monthes ago - By NY Times

    Markets like to look into the future, and with this latest trade policy, they don't like what they see.
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  • Commerce Secretary Wilbur Ross on potential price increases from Trump tariffs: 'No big deal'

    5 monthes ago - By CNBC

    The Commerce Department recommended imposing heavy tariffs or quotas on foreign producers of steel and aluminum last month.
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  • These Are the Industries That Will Be Most Impacted by Trump's Steel and Aluminum Tariffs

    5 monthes ago - By Fortune

    President Donald Trump announced a proposed 25% tariff on steel and a 10% tariff on aluminum at a meeting with industry leaders on Thursday.
    He tweeted about the “unfair and bad policy” on Thursday morning before the meeting.
    Our Steel and Aluminum industries have been decimated by decades of unfair trade and bad policy with countries from around the world. We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!
    - Donald J. Trump March 1, 2018
    Trump's decision to implement these taxes on imported steel and aluminum, which...
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  • One of Trump's top trade advisers held up a can of Campbell's Soup to argue Trump's massive tariffs are 'no big deal'

    One of Trump's top trade advisers held up a can of Campbell's Soup to argue Trump's massive tariffs are 'no big deal'

    5 monthes ago - By Business Insider

    Commerce Secretary Wilbur Ross dismissed concerns over President Donald Trump's new tariffs on steel and aluminum during an appearance on CNBC.
    Ross used cans of Budweiser, Campbell's Soup, and Coca Cola to illustrate his point.
    Ross argued that the price increases on consumer goods would be negligible.
    Commerce Secretary Wilbur Ross on Friday used a few props to dismiss concerns about President Donald Trump's new tariffs during an appearance on CNBC.
    During an interview, Ross said the additional import tax of 25% on steel and 10% on aluminum will be "no big deal" for consumers. Many...
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  • Goldman: 'Good chance' this leads to NAFTA withdrawal

    5 monthes ago - By CNBC

    Trump's decision to impose tariffs on steel and aluminum likely precedes an exit from NAFTA, according to Goldman Sachs.
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  • “Nostalgic for the days of Big Steel”: Stephen Colbert takes on Trump's tariffs

    5 monthes ago - By Fast Company

    There's a new tariff in town, and according to Stephen Colbert, it's a “clustermunch of biblical proportions.” On Thursday, President Trump announced that he plans to impose tariffs of 25% on imported steel and 10% on aluminum. The move already made the markets plunge, or as Colbert described it, “It sunk like an anchor made...
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  • Trump's steel tariff may not cause as much inflation as everyone thinks

    Trump's steel tariff may not cause as much inflation as everyone thinks

    5 monthes ago - By Business Insider

    President Donald Trump announced a steel tariff of 25% is coming next week.
    The tariff could mean big price increases for US steel companies.
    It also means higher costs for steel buyers.
    But Cowen and Company analyst Novid Rassouli says the tariffs shouldn't cause too much inflation.
    President Donald Trump's proposed tariffs probably won't cause as much inflation as everyone thinks, according to Cowen and Company analyst Novid Rassouli.
    Thursday, Trump announced he was getting ready to slap tariffs on imports of steel and aluminum .
    "We're going to build our steel industry back; we're...
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  • Trump's new tariffs could mean you'll pay more for a new car or truck

    Trump's new tariffs could mean you'll pay more for a new car or truck

    5 monthes ago - By Business Insider

    Trump's tariff's on steel and aluminum could raise the prices of vehicles that his voters like to buy.
    Ford pickups, which use a lot of aluminum in their construction, could cost more.
    However, the auto industry might take the tariffs in stride and eat the higher commodity costs.
    On Thursday, the Trump administration announced a tariff on imported steel and aluminum , signaling a willingness to start a trade war so that that the President could keep a campaign promise.
    The response from US steel- and aluminum makers was swift and positive, although it's worth noting that the aluminum...
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  • With Global Steel Tariffs On, What's Next For Mexico And NAFTA?

    5 monthes ago - By Forbes

    The Trump Administration is in tariff mode. How does NAFTA fair as it enters its sevent round of discussions this weekend?
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