Wall Street Journal (June 4)
Despite the “unanimous concern and disappointment” expressed in a statement by G7 members Canada, France, Germany, Italy, Japan and the UK, ”the Trump administration showed no sign of backing down from restrictive tariffs” or provided any indication “that the administration was wary of inching closer to a trade war.”
Tags: Canada, Concern, Disappointment, France, G7, Germany, Italy, Japan, Tariffs, Trade war, Trump, UK, Unanimous
Washington Examiner (June 1)
“With President Trump’s incredibly foolhardy decision Thursday to impose tariffs on steel and aluminum from Canada, Mexico, and the European Union, the probability grows of an economic crash this fall.”
The Guardian (April 5)
“The tit-for-tat exchange of tariffs between the United States and China gives the impression the world’s two biggest economies are headed down the road towards a trade war, which would have hugely damaging economic consequences. But this could be averted if they continue quiet backroom discussions to open up their markets, particularly China’s.”
Tags: Avert, China, Damaging, Discussions, Economic consequences, it-for-tat, Markets, Tariffs, Trade war, U.S.
Newsweek (March 12)
By playing “his America First card,” President Trump thinks he’s getting ahead, particularly in the Rust Belt. He believes adopting tariffs will help fulfill “his promise to America’s industrial heartland to bring back jobs in its traditional industries. The problem is that those in the industrial heartland don’t seem to think it’s the right thing to do.” In fact, many “who work in manufacturing, remain convinced that tariffs will increase costs and lead to job losses. Far from saving the industrial sector, they say, Trump is showing economic illiteracy that will only add to the cost of significant consumer goods.”
Tags: America first, Consumer goods, Costs, Economic illiteracy, Heartland, Jobs, Manufacturing, Rust Belt, Tariffs, Trump
Wall Street Journal (March 1)
“Donald Trump made the biggest policy blunder of his Presidency Thursday by announcing that next week he’ll impose tariffs of 25% on imported steel and 10% on aluminum. This tax increase will punish American workers, invite retaliation that will harm U.S. exports, divide his political coalition at home, anger allies abroad, and undermine his tax and regulatory reforms. The Dow Jones Industrial Average fell 1.7% on the news, as investors absorbed the self-inflicted folly.”
WARC (March 3)
“US brands face a mixed reaction in China, as consumers react to the presidency of Donald Trump and his threat to impose tariffs on imports from that country.” Following his first month in office, “41.2% of Chinese consumers had a more negative view of the US.” while just “8.1% viewed the US more positively.” It remains to be seen whether American brands will face the intensely negative blowback that caused Japanese auto sales to contract by more than a third following the negative press surrounding a 2012 territorial dispute with Japan.
Tags: Auto sales, Blowback, Brands, China, Consumers, Imports, Japan, Tariffs, Territorial dispute, Threat, Trump, U.S.
The Economist (October 22)
“Twentieth-century trade deals slashed tariffs. Newer ones between rich countries, such as CETA, focus on cutting other barriers to trade.” It took seven years to hammer out the Comprehensive Economic and Trade Agreement (CETA), a trade deal that would eliminate duplicative safety checks, as well as about 99% of customs duties between the Canada and the EU. But gaining final approval of any trade deal is increasingly difficult. Last week, the regional parliament of Wallonia blocked the deal, which was estimated to “make Europe €5.8 billion a year richer.”
Tags: Barriers, Canada, CETA, Customs, Duplicative, Duties, Europe, Parliament, Safety checks, Tariffs, Trade deals, Wallonia
New York Times (January 10, 2014)
“For decades, Japan has defended its 778 percent tariffs on rice with a kind of religious zeal.” That may be coming to an end. With talks approaching over the Trans-Pacific Partnership, “urban Japanese — and even some farmers — are questioning exactly what those tariffs protect.”
