close Video NAFTA negotiations likely to miss deadline There appears to be little progress in trade negotiations between the U.S., Canada and Mexico just three days ahead of a congressional deadline; Rich Edson reports. The North American Free Trade Agreement (NAFTA) has benefited American consumers, workers and businesses since 1994. But ignoring the agreement’s success, President Trump instead chooses to denounce NAFTA, often suggesting the U.S. could withdraw altogether. NAFTA has been a major source of economic growth in the United States, particularly for the automotive and agricultural sectors. Some 14 million U.S. jobs depend on the agreement with our nation’s two largest export markets, Canada and Mexico. Together, these countries spend nearly $500 billion purchasing U.S. exports annually. President Trump’s approach to NAFTA is just one part of a misguided protectionist agenda. Unless his administration makes major course corrections, our … [Read more...] about Trump should rethink his stance on NAFTA — It supports millions of US jobs, billions of dollars in exports
China national machinery import and export corporation
by Bloomberg News Washington’s action against Chinese imports Friday, and the response from Beijing, are hurting some U.S. industries more than others. Here’s a round-up of Bloomberg’s coverage of how the dispute is playing out in corporate America. Apparel The clothing and footwear industry was largely spared by Trump administration tariffs on Chinese goods, but a looming trade war could still do damage to an apparel sector that’s more global than ever. The actual shirts and shoes imported from China won’t get new tariffs, according to the full list of 1,102 product lines released Friday. Only some of the equipment used to make them, like textile rolling-machine parts and injection molders for shoes, were included in the final list. A host of other Chinese machinery used by American apparel companies that had been on a preliminary tariff list -- like textile printing equipment, sewing machines and looms -- made it through unscathed. Autos The U.S. … [Read more...] about Here’s how Trump’s China trade tariff is rippling through U.S.
White House advisers like National Economic Council Director Larry Kudlow have been telling Wall Street and Corporate America that despite President Donald Trump's tough talk this spring on trade and tariffs, the administration isn't pursuing a trade war with China or anyone else. "This is just a proposed idea," Kudlow told reporters in early April about potential tariffs on $50 billion worth of Chinese steel, heavy machinery and 1,300 other products. "Nothing's happened. Nothing's been executed." Yet early signs are emerging that tariffs and their countermeasures, proposed or imposed, already are hitting some U.S. industries, some in areas of the country that voted for Mr. Trump in the 2016 election. Consider: • Chinese importers cut pork orders starting in early April, according to a report in The Wall Street Journal citing U.S. Department of Agriculture data. After China imposed retaliatory tariffs on April 2, the USDA reported the biggest weekly drop in net … [Read more...] about Signs China tariffs are starting to hurt U.S. businesses, wallets
With Breanne Deppisch and Joanie Greve. THE BIG IDEA: Lordy, there may be reports. This week has brought several new clues that Bob Mueller views his charge as special counsel quite expansively. Carol D. Leonnig and Robert Costa scooped last night that Mueller informed Donald Trump’s attorneys in early March that he is continuing to investigate the president but does not consider him a criminal target at this point. (A “subject” can always become a “target” later on.) Here’s an especially interesting passage from their piece that may foreshadow how the next few months might play out: “The special counsel also told Trump’s lawyers that he is preparing a report about the president’s actions while in office and potential obstruction of justice … Mueller reiterated the need to interview Trump — both to understand whether he had any corrupt intent to thwart the Russia investigation and to complete this portion of … [Read more...] about The Daily 202: Mueller may release multiple reports on Trump, obstruction and Russian interference
National Business Sipa USA | TNS Workers at a micro motor factory in Huaibei, east China's Anhui Province, Dec. 8, 2017. Micro motor plays an important role in the manufacturing of mobile phones. David J. Lynch, The Washington Post • April 4, 2018 6:51 am WASHINGTON — The Trump administration Tuesday unveiled a list of about $50 billion in Chinese electronics, aerospace and machinery products it plans to hit with steep tariffs, the latest move in a deepening U.S.-China trade conflict. The new 25 percent import taxes are designed to penalize China for discriminatory policies that the United States says put its companies at a disadvantage in the Chinese market. President Donald Trump has complained that the Chinese government forces U.S. companies to surrender their proprietary technology in return for access to local customers and steals other trade secrets via cybertheft. Trump’s latest protectionist move threatens to upend global supply chains for … [Read more...] about Trump administration targets Chinese electronics, aerospace and machinery goods with $50 billion in tariffs