President Donald Trump’s global trade war and federal spending cuts — as well as his threat of cutting funds to Maine — have state officials preparing for slowing economic growth and rising unemployment.
tariffs
Posted inBusiness, Maine, News
Maine energy prices, already costly, expected to rise as Trump tariffs take effect
The impact on heating oil and gasoline is expected to be felt as soon as this week, though how electricity imported from Canada will be affected is less clear.
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Posted inBusiness
China challenges EV tariffs imposed by Europe, files complaint
The EU last month imposed provisional tariffs on some car imports from China that would raise rates to as high as 48% after a months-long probe into Chinese state aid to EV makers.
Posted inBusiness, Nation / World, News
Trump says administration will ‘certainly think about’ tariffs on autos imported from Europe
The Commerce Department has been investigating whether imported vehicles and parts pose a threat to national security.
Posted inBusiness
Tax system reforms rattle China’s super-rich
The changes mean more government revenue will come from the wealthy as the masses pay lower levies in 2019.
Posted inBusiness
U.S. silent as China tries to ease trade tensions in advance of new talks
Beijing’s pledges to open up its economy fall well short of Trump’s demands on alleged forced transfers of technology and theft of intellectual property, analysts say.
Posted inBusiness, sj-web
Tariffs continue to hobble lobster industry
American lobster exports to China continue to plummet as the industry struggles with stiff trade barriers enacted in July on its second-largest export market. About 85 percent of the lobster exported from the U.S. originates from Maine waters, but some is shipped from other states and not reflected in Maine’s total exports. Still, Maine and […]
Posted inBusiness, Maine, sj-web
Lobster industry brainstorms market strategies
ROCKLAND — With overseas markets shaky at best, the leaders of Maine’s $1.4 billion lobster industry came together Wednesday to talk about how to drive up demand and get top dollar in the one market they can count on — the United States. This is a conversation that began long before China slapped a 25 […]
Posted inBusiness
Five ways the tariffs on $200 billion in China goods could be felt
BALTIMORE (AP) — By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world’s two largest economies — and the outcome is far from certain. No one knows how long the tariffs announced Monday might last. No one knows if a politically divided […]
Posted inMaine, sj-web
Dealers say China inflating lobster prices
SUGGESTED PULLQUOTE: “The tariff is bad enough, but to use the hard-shell price on a firm-shell order to drive it up higher, that’s salt on the wound.” — Stephanie Nadeau, The Lobster Co., Arundel Maine lobster dealers say China is improperly inflating the market price of lobster to increase its punitive tariffs on U.S. live […]