President-elect Donald Trump announced plans Jan. 14 to establish an "External Revenue Service" that would collect monies from tariffs, duties and all revenue coming from foreign sources, in a Truth Social post.
American consumers should take President-elect Donald Trump seriously, but not literally, when it comes to his threats on tariff rates, said Jan Hatzius, chief economist at Goldman Sachs.
The incoming administration is thinking about applying tariffs on strategic goods from all countries, rather than a 10% or 20% global tariff, The Washington Post reported, citing three anonymous sources.
President-elect Donald Trump, in a social media posting Dec. 20, wrote: "I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!"
More than a dozen groups are asking President-elect Donald Trump to bolster intellectual property protections within the first 100 days of his presidency as part of a wider effort to combat counterfeit trade, they said in a Dec. 19 letter.
President Joe Biden called for the creation of a new task force to counter foreign economic coercion, which he said will help the U.S. better respond to coercive measures by “countries of concern,” including China.
Tariffs promised by President-elect Donald Trump would result in increased prices for U.S. consumers, experts warned in an analysis of current trade flows and tariff rates.
President-elect Donald Trump said the U.S. is "subsidizing Canada to the tune [of] over $100 billion a year. We’re subsidizing Mexico for almost $300 billion. We shouldn’t be -- why are we subsidizing these countries? If we’re going to subsidize them, let them become a state."
President-elect Donald Trump is most likely to announce 25% tariffs on Canadian and Mexican goods the day he takes office, "then immediately suspend them -- with a deadline -- to allow for a negotiation," Bill Reinsch, a think tank leader who often opines on trade, wrote this week.
Peter Navarro, a former academic economist who served in the first Trump administration (see 1911060059 and 2002030056), will return as a trade adviser in the second administration, President-elect Donald Trump announced Dec. 4.