I’d only seen a still pic a couple days ago.
The Tarriff Hype.
- Thread starter petros
- Start date
I’d only seen a still pic a couple days ago.
Chinese Mineral Grip Threatens US Defense Industry
[VIDEO]Thousands of weapon parts in U.S. weapons systems rely on minerals controlled by China. Could this put U.S. defense readiness at risk? We take a look at the key challenge facing the Pentagon and weapons makers. China is quietly fixing banned Nvidia AI chips—raising questions about whether U.S. export rules are actually working. We take a closer look at the situation. Washington is ramping up pressure on India to stop buying Russian oil. A top aide to President Donald Trump criticizes India's refusal to change course. More than 50 members of the Canadian Parliament are speaking out against Beijing's persecution of Falun Gong. Bomb threats are targeting Shen Yun performances across Canada.
President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.
The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.
Trump's moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president.
(As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi)
At a population exceeding 1.4 billion people, India is the world’s largest country and
In 2024, the U.S. ran a $45.8 billion trade deficit in goods with India, meaning it imported more than it exported, according to the U.S. Census Bureau.
Trump to put additional 25% import taxes on India, bringing combined tariffs to 50% — The Canadian Press
WASHINGTON (AP) — President Donald Trump signed an
India has no choice to but find another supply.View attachment 30379
President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.
The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.
Trump's moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president.
(As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi)
At a population exceeding 1.4 billion people, India is the world’s largest country andrepresentsrepresented a way for the U.S. to counter China's influence in Asia. But India has not supported the Ukraine-related sanctions by the U.S. and its allies on Moscow even as India's leaders have maintained that they want peace.
In 2024, the U.S. ran a $45.8 billion trade deficit in goods with India, meaning it imported more than it exported, according to the U.S. Census Bureau.
The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products.
Trump to put additional 25% import taxes on India, bringing combined tariffs to 50% — The Canadian Press
WASHINGTON (AP) — President Donald Trump signed anapple.news
NATO is setting a naval blockade in the Baltic to stop the shadow fleet. There was even mention of sea mines being deployed.
That’s a lot of mouths, & have gotten a discount since the parking kerfuffle in Ottawa, & it sounds like there’s going to be an over supply of crude (sudden decrease in refining capacity) from Russia, so maybe even some steeper discounts….?
Russia plans to increase exports from its western ports to nearly two million barrels per day in August, about 200,000 bpd more than a previous estimate, after two refineries cut runs following Ukrainian drone attacks, two industry sources said.
The extra oil has the potential to add to downward pressure to the global oil market as supplies are already set to be increased by an output hike agreed on Sunday by OPEC+, the Organization of the Petroleum Exporting Countries and allies, including Russia.
It coincides with pressure from Washington on India, the biggest buyer of Russian seaborne oil and its Urals grade, to curb purchases.
Indian state refiners have already cut Russian oil purchases and increased buying of alternative oil grades in recent weeks.
Russian oil exports will rise after drone strikes shut refineries, sources say — Reuters
Russia plans to increase exports from its western ports to nearly two million barrels per day in August, about 200,000 bpd more than a previous estimate, after two refineries cut runs following Ukrainian drone attacks, two industry sources said.
As I said, NATO is setting up a naval blockade. There won't be extra crude on the market.
48hrs out from Day X
As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday (same as India’s), Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with U.S. President Donald Trump that would likely be a "humiliation."
Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House.
"The day my intuition says Trump is ready to talk, I won't hesitate to call him," Lula said in an interview from his presidential residence in Brasilia. "But today my intuition says he doesn't want to talk. And I won't humiliate myself."
apple.news
Despite Brazil's exports facing one of the highest tariffs imposed by Trump, the new U.S. trade barriers look unlikely to derail Latin America's largest economy, giving Lula more room to stand his ground against Trump than most Western leaders.
Some countries have responded to Trump's trade war by seeking to deepen trade ties with other countries, rather than by putting up their own barriers.
The UK and India have signed a trade deal that they were negotiating for three years.
Norway, Iceland, Switzerland and Liechtenstein - who are in a grouping called the European Free Trade Association (EFTA) - have concluded a new trade deal with a number of Latin American countries in a grouping known as Mercosur.
The EU is pushing ahead with a new trade deal with Indonesia.
Canada is exploring a free trade agreement with ASEAN.
Some countries have also taken advantage of the fracturing of trade between the US and China.
China has traditionally been a significant global importer of soybeans from the US, which it uses as fodder for its 440 million pigs.
But in recent years Beijing has been increasingly shifting towards buying its soybeans from Brazil, rather than America, a trend analysts argue has accelerated as a result of Donald Trump's latest trade war and Beijing's new retaliatory tariffs on US agricultural imports.
apple.news
Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House.
"The day my intuition says Trump is ready to talk, I won't hesitate to call him," Lula said in an interview from his presidential residence in Brasilia. "But today my intuition says he doesn't want to talk. And I won't humiliate myself."
Exclusive: 'I won't humiliate myself': Brazil's president sees no point in tariff talks with Trump — Reuters
As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday, Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with U.S. President Donald Trump that would likely be a "humiliation."
Some countries have responded to Trump's trade war by seeking to deepen trade ties with other countries, rather than by putting up their own barriers.
The UK and India have signed a trade deal that they were negotiating for three years.
Norway, Iceland, Switzerland and Liechtenstein - who are in a grouping called the European Free Trade Association (EFTA) - have concluded a new trade deal with a number of Latin American countries in a grouping known as Mercosur.
The EU is pushing ahead with a new trade deal with Indonesia.
Canada is exploring a free trade agreement with ASEAN.
Some countries have also taken advantage of the fracturing of trade between the US and China.
China has traditionally been a significant global importer of soybeans from the US, which it uses as fodder for its 440 million pigs.
But in recent years Beijing has been increasingly shifting towards buying its soybeans from Brazil, rather than America, a trend analysts argue has accelerated as a result of Donald Trump's latest trade war and Beijing's new retaliatory tariffs on US agricultural imports.
How much cash is the US raising from tariffs? — BBC News
The US is seeing increased tariffs income, but there are signs of some countries diverting trade elsewhere.
How? Through increased surveillance of Russian and Chinese ships as they drag their anchors over under sea cables that they already know Russia & China are doing?
{They’re gonna watch Russia so hard it’ll just not increase its oil shipments by 200 million barrels in August on top of its 2 billion or whatever barrels it’s already shipping monthly with its shadow fleet ‘cuz Ukrainian drones took out/damaged a couple of Russian refineries?}
It is kind of funny. Like a demented tennis match….Maybe more like psychedelic ping-pong.
Have you bought coffee lately?As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday (same as India’s), Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with U.S. President Donald Trump that would likely be a "humiliation."
Brazil is not about to announce reciprocal tariffs, he said. Nor will his government give up on cabinet-level talks. But Lula himself is in no rush to ring the White House.
View attachment 30395
"The day my intuition says Trump is ready to talk, I won't hesitate to call him," Lula said in an interview from his presidential residence in Brasilia. "But today my intuition says he doesn't want to talk. And I won't humiliate myself."
Despite Brazil's exports facing one of the highest tariffs imposed by Trump, the new U.S. trade barriers look unlikely to derail Latin America's largest economy, giving Lula more room to stand his ground against Trump than most Western leaders.Exclusive: 'I won't humiliate myself': Brazil's president sees no point in tariff talks with Trump — Reuters
As U.S. tariffs on Brazilian goods jumped to 50% on Wednesday, Brazil's President Luiz Inacio Lula da Silva told Reuters in an interview that he saw no room for direct talks now with U.S. President Donald Trump that would likely be a "humiliation."
Some countries have responded to Trump's trade war by seeking to deepen trade ties with other countries, rather than by putting up their own barriers.
The UK and India have signed a trade deal that they were negotiating for three years.
Norway, Iceland, Switzerland and Liechtenstein - who are in a grouping called the European Free Trade Association (EFTA) - have concluded a new trade deal with a number of Latin American countries in a grouping known as Mercosur.
The EU is pushing ahead with a new trade deal with Indonesia.
Canada is exploring a free trade agreement with ASEAN.
Some countries have also taken advantage of the fracturing of trade between the US and China.
China has traditionally been a significant global importer of soybeans from the US, which it uses as fodder for its 440 million pigs.
But in recent years Beijing has been increasingly shifting towards buying its soybeans from Brazil, rather than America, a trend analysts argue has accelerated as a result of Donald Trump's latest trade war and Beijing's new retaliatory tariffs on US agricultural imports.
View attachment 30396
How much cash is the US raising from tariffs? — BBC News
The US is seeing increased tariffs income, but there are signs of some countries diverting trade elsewhere.
Only by the Can. Average is a bit under $20/can at this point that I’ve seen anyway, or at least that I’m willing to pay anyway.
Trump says he plans to put 100% tariff on computer chips, likely pushing up cost of electronics
Author of the article:Associated Press
Associated Press
Josh Boak
Published Aug 06, 2025 • 1 minute read
WASHINGTON — President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.
“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”
The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an overall uptick in inflation.
Demand for computer chips has been climbing worldwide, with sales increasing 19.6% in the year-ended in June, according to the World Semiconductor Trade Statistics organization.
Trump’s tariff threats mark a significant break from existing plans to revive computer chip production in the United States. He is choosing an approach that favors the proverbial stick over carrots in order to incentivize more production. Essentially, the president is betting that higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators.
By contrast, the bipartisan CHIPS and Science Act signed into law in 2022 by then-President Joe Biden provided more than $50 billion to support new computer chip plants, fund research and train workers for the industry. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed.
torontosun.com
Author of the article:Associated Press
Associated Press
Josh Boak
Published Aug 06, 2025 • 1 minute read
WASHINGTON — President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.
“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”
The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an overall uptick in inflation.
Demand for computer chips has been climbing worldwide, with sales increasing 19.6% in the year-ended in June, according to the World Semiconductor Trade Statistics organization.
Trump’s tariff threats mark a significant break from existing plans to revive computer chip production in the United States. He is choosing an approach that favors the proverbial stick over carrots in order to incentivize more production. Essentially, the president is betting that higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators.
By contrast, the bipartisan CHIPS and Science Act signed into law in 2022 by then-President Joe Biden provided more than $50 billion to support new computer chip plants, fund research and train workers for the industry. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed.
Trump says he plans to put 100% tariff on computer chips, likely pushing up cost of electronics
President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips.
this is extremely unfortunate since windows 10 is coming to an end.Trump says he plans to put 100% tariff on computer chips, likely pushing up cost of electronics
Author of the article:Associated Press
Associated Press
Josh Boak
Published Aug 06, 2025 • 1 minute read
WASHINGTON — President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.
“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”
The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an overall uptick in inflation.
Demand for computer chips has been climbing worldwide, with sales increasing 19.6% in the year-ended in June, according to the World Semiconductor Trade Statistics organization.
Trump’s tariff threats mark a significant break from existing plans to revive computer chip production in the United States. He is choosing an approach that favors the proverbial stick over carrots in order to incentivize more production. Essentially, the president is betting that higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators.
By contrast, the bipartisan CHIPS and Science Act signed into law in 2022 by then-President Joe Biden provided more than $50 billion to support new computer chip plants, fund research and train workers for the industry. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed.
Trump says he plans to put 100% tariff on computer chips, likely pushing up cost of electronics
President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips.
Windows is software.this is extremely unfortunate since windows 10 is coming to an end.
yes, but when windows 10 comes to an end, in order to keep the tower properly protected, you will need a recent processor.
"The U.S. tariff hike lacks logic," Dammu Ravi, secretary of economic relations in India's foreign ministry, told reporters.
"This is a temporary aberration, a temporary problem that the country will face, but in course of time, we are confident that the world will find solutions."
India is already signalling it may seek to rebalance its global partnerships. Modi is preparing for his first visit to China in over seven years, suggesting a potential diplomatic realignment amid growing tensions with Washington.
Brazilian President Luiz Inacio Lula da Silva said on Wednesday he would initiate a conversation among the BRICS group of developing nations about how to tackle Trump's tariffs.
He said he planned to call Modi and China's Xi Jinping. The BRICS group also includes Russia and South Africa.
(Is this where Canada being a 51st state fits in?)
apple.news
Trump has repeatedly offered to convert Canada from a sovereign nation to “the 51st state” during his second term as U.S. president. The move would enhance America’s access to critical minerals largely controlled by China, and pave the way for U.S. access to new ocean shipping lanes in Canada’s Arctic being created by melting sea ice.
apple.news
Ontario is at odds with Saskatchewan over Canada's response to the escalating trade war. Ford has called for immediate retaliation, while Saskatchewan Premier Scott Moe is urging Ottawa to dial down its retaliatory tariffs.
"Maybe it's time for Canada even to at least not add additional counter-tariffs in this space, but to even consider removing some of the counter-tariffs that are harmful to Canadian businesses and Saskatchewan businesses today," Moe said during a radio interview earlier Wednesday, adding the country is currently largely "protected" under the CUSMA trade pact…as long as Trump continues to respect that trade pact…Sector-specific tariffs, like the 50 per cent duty on steel, aluminum and copper, remain in place.
apple.news
Canada has breathing room because of the USMCA, and so does Mexico. It (Mexico, not Canada) got a 90-day extension on negotiations, with no new tariffs, on the same day as Canada was hit with the 35-per-cent levy.
The USMCA has allowed Ottawa to rag the puck, and to avoid caving in to Washington’s demands as quickly as other trading partners. Time may work in Canada’s favour. The 35-per-cent tariff, whose legal excuse is that Canada is flooding the U.S. with fentanyl, is likely to be struck down by the U.S. courts, though that won’t happen quickly. Negative economic news – a small helping of which arrived last week – could (?) lead the American public and business to push back more forcefully against Mr. Trump’s tariff plans, or not.
apple.news
The idea that Canada can win a dollar-for-dollar tariff war against a U.S. economy 10 times the size of ours is wishful thinking, which even the Carney Liberals, despite their “elbows up” election rhetoric, understand.
Only two countries hit by Trump’s tariffs have responded with counter-tariffs — Canada and China — because of the reality that they increase costs for their consumers.
While selective counter-tariffs can be useful, a dollar-for-dollar tariff war with the U.S. would harm Canada in a war we would inevitably lose.
apple.news
If you provoke Washington, tariffs — or their threat — will follow. Since Trump’s return, no countries have drawn more retaliatory attention than China (30%) and Canada (35%).
Trump portrays his tariffs as a tax on foreign countries. But they are actually paid by import companies in the U.S. who try to pass along the cost to their customers via higher prices. True, tariffs can hurt other countries by forcing their exporters to cut prices and sacrifice profits — or risk losing market share in the United States.
But economists at Goldman Sachs estimate that overseas exporters have absorbed just one-fifth of the rising costs from tariffs, while Americans and U.S. businesses have picked up the most of the tab.
Trump’s trade war has pushed the average U.S. tariff from 2.5% at the start of 2025 to 18.3% now, the highest since 1934, according to the Budget Lab at Yale University. And that will impose a $2,400 cost on the average household, the lab estimates.
torontosun.com
“The U.S. consumer’s a big loser,″ Wolff said.
"This is a temporary aberration, a temporary problem that the country will face, but in course of time, we are confident that the world will find solutions."
India is already signalling it may seek to rebalance its global partnerships. Modi is preparing for his first visit to China in over seven years, suggesting a potential diplomatic realignment amid growing tensions with Washington.
Brazilian President Luiz Inacio Lula da Silva said on Wednesday he would initiate a conversation among the BRICS group of developing nations about how to tackle Trump's tariffs.
He said he planned to call Modi and China's Xi Jinping. The BRICS group also includes Russia and South Africa.
(Is this where Canada being a 51st state fits in?)
India's Modi vows no compromise on farmers interests amid Trump's tariff salvo — Reuters
Indian Prime Minister Narendra Modi said on Thursday he will not compromise the interests of the country's farmers even if he has to pay a heavy price, in his first comments after U.S. President Donald Trump's salvo of a 50% tariff on Indian goods.
Trump's tariff war: Canada's sovereignty is the real issue, trade expert warns — Yahoo Finance Canada
Trump's now well-worn claim that Canada should become "the 51st state" is far more than negotiation table bluster, says Pricewaterhousecoopers.
"Maybe it's time for Canada even to at least not add additional counter-tariffs in this space, but to even consider removing some of the counter-tariffs that are harmful to Canadian businesses and Saskatchewan businesses today," Moe said during a radio interview earlier Wednesday, adding the country is currently largely "protected" under the CUSMA trade pact…as long as Trump continues to respect that trade pact…Sector-specific tariffs, like the 50 per cent duty on steel, aluminum and copper, remain in place.
Premier Ford warns Trump could reopen CUSMA trade pact in the fall — The Canadian Press
Ontario Premier Doug Ford is warning that U.S. President Donald Trump could c
The USMCA has allowed Ottawa to rag the puck, and to avoid caving in to Washington’s demands as quickly as other trading partners. Time may work in Canada’s favour. The 35-per-cent tariff, whose legal excuse is that Canada is flooding the U.S. with fentanyl, is likely to be struck down by the U.S. courts, though that won’t happen quickly. Negative economic news – a small helping of which arrived last week – could (?) lead the American public and business to push back more forcefully against Mr. Trump’s tariff plans, or not.
What does Donald Trump want from Canada? We are about to find out — The Globe and Mail
Canada has breathing room because of the United States-Mexico-Canada agreement, but it is up for renegotiation next year
Only two countries hit by Trump’s tariffs have responded with counter-tariffs — Canada and China — because of the reality that they increase costs for their consumers.
While selective counter-tariffs can be useful, a dollar-for-dollar tariff war with the U.S. would harm Canada in a war we would inevitably lose.
EDITORIAL: Common sense on counter-tariffs — Toronto Sun
There’s a welcome and growing realization in Canada that responding to U.S. President Donald Trump’s tariffs with dollar-for-dollar counter-tariffs is bad public policy. While anyone who said this at the outset of Trump’s tariff war against us in February was branded a traitor by our chattering...
Trump portrays his tariffs as a tax on foreign countries. But they are actually paid by import companies in the U.S. who try to pass along the cost to their customers via higher prices. True, tariffs can hurt other countries by forcing their exporters to cut prices and sacrifice profits — or risk losing market share in the United States.
But economists at Goldman Sachs estimate that overseas exporters have absorbed just one-fifth of the rising costs from tariffs, while Americans and U.S. businesses have picked up the most of the tab.
Trump’s trade war has pushed the average U.S. tariff from 2.5% at the start of 2025 to 18.3% now, the highest since 1934, according to the Budget Lab at Yale University. And that will impose a $2,400 cost on the average household, the lab estimates.
From Laos to Brazil, Trump’s tariffs leave a lot of losers. But even the winners will pay a price
President Donald Trump's tariff onslaught this week left a lot of losers.
The tariffs kicked in at midnight, after being delayed four times in four months — a chaotic period of big announcements and brash Truth Social posts as world leaders raced to Washington to try to stave off measures that could damage businesses in their countries and slow the global economy.
The new duties — spanning from 10 to 50 percent on nearly every country in the world — are intended to drive companies to step up their manufacturing in the U.S. while bringing in billions in tariff income to help pay down the national debt. The varying rates depend at least partly on how much their governments have drawn the president’s ire.
The move is the culmination of Trump's extraordinary efforts to disrupt the status quo on global commerce — an attempt to shift the free-trading U.S. economy toward a protectionist approach that charges countries for the "privilege" of selling to Americans.
Trump has complained for decades that the U.S. has been "ripped off" by its trading partners.
Trump is still negotiating with China, Mexico and other major countries. And he has pledged to levy tariffs on a variety of industries, including pharmaceuticals, semiconductors and lumber. At the same time, he has wielded tariffs as threats to bend countries to his will, including a 50 percent duty on Brazilian goods over its treatment of former President Jair Bolsonaro and a 50 percent duty on India for purchasing Russian oil, and 35% on Canada for Fentanyl/not being the 51st state?
The duties come as the U.S. economy is showing signs of strain from the existing 10 percent global tariffs, a 25 percent levy on automobiles and auto parts and a 50 percent tax on steel and aluminum imports. While the GDP grew 3 percent in the April-June quarter, the Bureau of Labor Statistics last Friday issued a weak jobs report for July, and inflation has ticked up as businesses have begun to pass the cost of tariffs onto consumers.
apple.news
Big American companies are also reporting growing tariff expenses.
The new duties — spanning from 10 to 50 percent on nearly every country in the world — are intended to drive companies to step up their manufacturing in the U.S. while bringing in billions in tariff income to help pay down the national debt. The varying rates depend at least partly on how much their governments have drawn the president’s ire.
The move is the culmination of Trump's extraordinary efforts to disrupt the status quo on global commerce — an attempt to shift the free-trading U.S. economy toward a protectionist approach that charges countries for the "privilege" of selling to Americans.
Trump has complained for decades that the U.S. has been "ripped off" by its trading partners.
Trump is still negotiating with China, Mexico and other major countries. And he has pledged to levy tariffs on a variety of industries, including pharmaceuticals, semiconductors and lumber. At the same time, he has wielded tariffs as threats to bend countries to his will, including a 50 percent duty on Brazilian goods over its treatment of former President Jair Bolsonaro and a 50 percent duty on India for purchasing Russian oil, and 35% on Canada for Fentanyl/not being the 51st state?
The duties come as the U.S. economy is showing signs of strain from the existing 10 percent global tariffs, a 25 percent levy on automobiles and auto parts and a 50 percent tax on steel and aluminum imports. While the GDP grew 3 percent in the April-June quarter, the Bureau of Labor Statistics last Friday issued a weak jobs report for July, and inflation has ticked up as businesses have begun to pass the cost of tariffs onto consumers.
Trump’s trade onslaught escalates as global tariffs kick in — POLITICO
“Tariffs are flowing into the USA at levels not thought even possible!” the president wrote in a post.