Donald Trump ran for office on his record as a businessman, but his escalating trade war illustrates how far outside the mainstream his economic beliefs lie. To the president, the existence of a trade deficit means other countries are “stealing” from the U.S. Few economists would agree, and they warn that the tariffs he’s imposing […]
tariffs
Posted inNation / World, sj-web
U.S. tariffs take effect; China announces retaliation
BEIJING (AP) — The United States and China hiked tariffs Friday on billions of dollars of each other’s goods, launching what Beijing called the “biggest trade war in economic history” in a spiraling dispute over technology. The Trump administration is confronting Beijing over development tactics it says include stealing or pressuring foreign companies to hand […]
advertisement
Posted inBusiness, Maine
Maine Harley owners aren’t fazed by Trump’s threats
Dan Liberty of Windham is like many other Harley-Davidson owners in Maine and beyond: fiercely loyal to the iconic American brand. He is not, however, among the customers who President Trump says are “very angry” about the company’s decision last week to move some of its motorcycle production overseas in response to the escalating trade […]
Posted inMaine, sj-web
China’s threatened tariff on U.S. lobster has Maine’s industry on edge
The Maine lobster industry is reeling at the prospect of losing its biggest overseas market. Industry leaders warn that a proposed 25 percent Chinese tariff on U.S. lobster exports will drive U.S. lobster prices down, causing untold harm to an industry that was counting on China to offset market losses in Europe caused by a […]
Posted inMaine, sj-web
Poliquin joins the effort to block tariffs on Canadian newsprint
Shortly before Election Day 2016, a private equity firm in New York City announced it had acquired, for an undisclosed price, “a leading manufacturer of newsprint and various publication paper products,” based in Longview, Washington. The purchase of North Pacific Paper Co. did not set off alarms. Hardly anyone noticed. But the fallout from One […]
Posted inNation / World, sj-web
Trump takes more swipes at Canada after arrival in Singapore
WASHINGTON (AP) — President Donald Trump took more swipes at Canada and its prime minister over trade issues as he settled in for a summit with North Korea in Singapore, contending that “Fair Trade is now to be called Fool Trade if it is not Reciprocal.” Trump roiled the weekend Group of Seven meeting of […]
Posted inNation / World, sj-web
Trump imposes steel and aluminum tariffs on the European Union, Canada and Mexico
WASHINGTON – The Trump administration said Thursday that it is imposing tariffs on imported steel and aluminum from the European Union, Canada and Mexico. The move is certain to trigger retaliation by the E.U. against American products including Kentucky bourbon and Harley-Davidson motorcycles. President Donald Trump had announced the tariffs in March, but gave several […]
Posted inNation / World, sj-web
China vows to fight U.S. 'at any cost' as trade spat worsens
WASHINGTON (AP) — China’s government vowed Friday to “counterattack with great strength” if President Donald Trump goes ahead with plans to raise U.S. tariffs on an additional $100 billion worth of Chinese goods and said negotiations were impossible under current conditions. Trump’s surprise move Thursday to instruct the U.S. trade representative to consider additional tariffs […]
Posted inBusiness, Maine, sj-web
Maine escapes first wave of Chinese tariffs
Maine’s biggest exports, including lobster, wood pulp and airplane parts, are not targeted by the first round of Chinese tariffs in the brewing trade war with America. China released its list of 128 U.S. products targeted for tax hikes in retaliation for President Trump’s trade sanctions on Chinese aluminum and steel on Monday, the day […]
Posted inNation / World, sj-web
China targets $3 billion of U.S. goods in tariff spat
BEIJING (AP) — China announced a $3 billion list of U.S. goods for possible retaliation in a tariff dispute with President Donald Trump and girded Friday for a bigger battle over technology policy as financial markets sank on fears of global disruption. The Commerce Ministry said higher duties on pork, apples, steel pipe and other […]