Trump’s Tariffs Are ‘Locked In’
Canada and Mexico's 25-percent levies are set for Tuesday, when China will get an additional 10-percent. Steel and aluminum arrive on the 12th. The E.U. tariffs will follow.
Good Morning!
Here are today’s highlights:
Today’s “economic blackout” isn’t aimed at small businesses, but it’s likely to hit them anyway.
Small retailers are increasing foot traffic by installing vending machines that sell art. No, really.
We may have reached the point where pretty much anyone can write code.
Is this the business model restaurants have been looking for?
INTERNATIONAL TRADE
Trump says his tariffs are set for Tuesday: “President Donald Trump said Thursday that tariffs on goods from Canada and Mexico will increase sharply on Tuesday and, in an unexpected move, also announced an additional 10 percent tax on Chinese goods that will take effect then. In a post on his social media site, Truth Social, the president said he was acting to confront a continuing influx of illicit drugs. ‘Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels. A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China,’ the president wrote. ‘We cannot allow this scourge to continue to harm the USA.’”
“In early February, Trump announced 25-percent levies on Canadian and Mexican merchandise and then delayed them by one month after discussions with the heads of those countries. The new 10-percent tax on Chinese goods that he declared Thursday is in addition to a 10-percent levy that took effect in early February. The latest action will bring the total import fee on some Chinese goods to 45 percent.”
“Along with the tariffs Trump confirmed Thursday, new import taxes on steel and aluminum are scheduled to take effect March 12. The president also has promised to impose new taxes on goods from the European Union and on automobiles, semiconductors, copper and pharmaceuticals. He has also called for a comprehensive overhaul of U.S. trade policy that will match the tariffs other countries apply to American goods, which could dramatically increase trade barriers.”
“In recent days, Trump has given conflicting signals about his plans, appearing to suggest as recently as Wednesday that the Canada and Mexico tariffs might be delayed again until early April. But while talks continue with Canadian and Mexican diplomats, a White House official reiterated that Trump is set on imposing the new import taxes. ‘This is locked in,’ said the official.” READ MORE
