Sunday, June 15

Tag: tariffs

13Mar By AdminsNo Comments

US official labels Australia a ‘dumper’ of aluminium as tariff fallout continues

US Commerce Secretary Howard Lutnick has labelled Australia as a "dumper" of under-priced aluminium as domestic politicians scramble to push for an exemption on steel and aluminium tariffs. "You've got dumpers in the rest of the world. Japan dumps steel, China dumps steel," he told Fox Business. "We're going to stop that nonsense and bring steel here. "We're not going to stand for China dumping, Japan dumping, Australia does a lot of aluminium at below cost." Trump refused to grant Australia an exemption. (Getty) Lutnick said Trump was "protecting America". Australia's steel and aluminium exports to the US amount to about 0.2 per cent of the national total export value. This morning, opposition leader Peter Dutton promised to "get a deal done" with U...
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13Mar By AdminsNo Comments

Steel and aluminum are central to American life. These are the industries and products that will be impacted by new tariffs

Steel and aluminum are ubiquitous in Americans' lives. A stainless steel refrigerator holds aluminum soda cans. A stainless steel drum tumbles inside an aluminum washing machine. They're the metals used in cars and airplanes, phones and frying pans, skyscrapers and zippers. That's why President Donald Trump's 25 per cent tariffs on all steel and aluminum imports, which went into effect yesterday, could have widespread impact on manufacturers and consumers. Here are some of the industries and products that rely on aluminum and steel: Construction The construction industry uses about one-third of all US steel shipments, more than any other industry, according to the Council on Foreign Relations. The industry depends on a global supply chain...
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8Mar By AdminsNo Comments

Donald Trump ‘strongly considering’ sanctions and tariffs on Russia until ceasefire with Ukraine is reached

US President Donald Trump says he is "strongly considering" sanctions and tariffs on Russia in hopes of forcing a settlement to the war in Ukraine. He said in a post on Truth Social on Thursday (early Friday AEDT) that they could remain in place until a ceasefire and "final settlement agreement on peace" were reached. The post came as Trump faced criticism for increasing pressure on Ukraine to reach a deal while downplaying or even denying Russia's responsibility for starting the war with its invasion three years ago. Trump said he is "strongly considering" sanctions and tariffs on Russia in hopes of forcing a settlement to the war in Ukraine. (60 Minutes) The post came as Trump faces criticism for increasing pressure on Ukraine to reach a deal while downplaying or ev...
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8Mar By AdminsNo Comments

Trump backflips on tariffs yet again, threatens immense new tax on Canadian dairy, lumber

A day after offering Canada a one-month reprieve on punishing, virtually across-the-board 25 per cent tariffs, President Donald Trump has threatened new tariffs as soon as Friday on Canadian lumber and dairy products. It's yet another twist in a serpentine trade policy that seems to shift on an hourly basis. "Canada has been ripping us off for years on lumber and on dairy products," Trump said in an Oval Office address, citing Canada's roughly 250 per cent tariff on US dairy exports to the country. Trump said America would match those tariffs dollar-for-dollar. "We may do it as early as today, or we'll wait until Monday or Tuesday," Trump said. "We're going to charge the same thing. It's not fair. It never has been fair, and they've treated our farmers badly." Donald T...
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3Feb By AdminsNo Comments

Trump’s tariffs are a $2.25 trillion gamble with the economy and prices

US President Donald Trump is on the verge of hitting America's three biggest trading partners with sweeping tariffs, a far more aggressive use of his favourite economic weapon than anything he did during his first term. The looming import taxes on Mexico, Canada and China will be a major test of Trump's unorthodox use of tariffs, which he's described as "the greatest thing ever invented". It's an enormous gamble, arguably a bigger one than any economic policy Trump enacted during his four-plus years in the White House. And this strategy has the potential to upend the thing many voters care about the most: the economy and the cost of living. President Donald Trump arrives at Palm Beach International Airport in West Palm Beach, Florida, on Friday. (AP Photo/Ben Curtis) ...
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28Nov By AdminsNo Comments

Is Trump right to point the finger at China over the fentanyl crisis?

Donald Trump has threatened to impose sweeping tariffs on China and other countries for failing to stem shipments of drugs to the US. This week, the US president-elect announced he would be slapping 25 per cent tariffs on imports from China, Mexico and Canada when he assumes power. But Trump went a step further with China, singling out the emerging superpower for its role in the US opioid crisis, which is killing thousands of Americans every year. Donald Trump led Republicans to a clean sweep of the House, Senate and the White House. (AP) In a post on his Truth Social site, he said he wants to impose an "an additional 10 per cent tariff" on imports from China until the flow of illicit drugs, particularly fentanyl, dries up. Trump said he has "had many tal...
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