Customs (Tariff)

Subterms

    Latest story

    125 Shares66 Views

    US-Brazil Tariffs: What to Know About Trump’s History With Bolsonaro

    by

    The fight is rooted in years of political history between President Trump and the last two presidents of Brazil.The Western Hemisphere’s two largest nations appear headed for a full-blown trade war — with a twist.President Trump on Wednesday pledged to impose 50 percent tariffs on Brazilian imports. His rationale wasn’t entirely economic — the United States has a trade surplus with Brazil — but political. Mr. Trump said Brazil was carrying out a “witch hunt” against his political ally, former President Jair Bolsonaro, who is facing trial for attempting a coup.A few hours later, President Luiz Inácio Lula da Silva of Brazil said his government would respond with its own tariffs on U.S. imports. “Brazil is a sovereign nation with independent institutions and will not accept any form of tutelage,” he said in a statement.Brazil is weighing tariffs on specific American products or sectors, according to a senior Brazilian official who spoke on the condition of anonymity to discuss closed meetings. Seeking to minimize any jolt to Brazil’s economy, the government does not plan to apply broad-based tariffs on all American products, the official said.The feud is the latest in a long-running saga involving Mr. Trump, Mr. Bolsonaro and Mr. Lula, and it shows how Mr. Trump is using tariffs to settle scores against his political enemies.Here’s what you need to know:What did Trump threaten, and why?What products does Brazil export to the U.S.?What is Trump’s history with Bolsonaro and Lula?What is the case against Bolsonaro?What happens next?We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    More stories

    • 175 Shares97 Views

      in Elections

      Trump Treats Tariffs More as a Form of Power Than as a Trade Tool

      by

      Instead of viewing tariffs as part of a broader trade policy, President Trump sees them as a valuable weapon he can wield on the world stage.President Trump’s allies often describe him as a 40-year devotee of tariffs who, stymied by his first-term advisers, is finally able to put his long-held economic theory into practice.But while Mr. Trump spoke about tariffs off and on before becoming a presidential candidate, he usually described his broader grievance about trade in terms of other countries or companies “ripping off” the United States. It is since Mr. Trump became a candidate in 2015 that he has talked about tariffs in earnest, describing them as a tool that he could easily deploy to rebalance the country’s economic footing.“We are going to have 10 percent to 20 percent tariffs on foreign countries that have been ripping us off for years, we are going to charge them 10 percent to 20 percent to come in and take advantage of our country because that is what they have been doing,” Mr. Trump said in August 2024, one of many comments he made in that race emphasizing he would impose sweeping tariffs if he won, far beyond those in his first term.Mr. Trump’s latest retreat this week from his own self-imposed tariff deadlines underscores the challenge he has faced in treating tariffs as a quick-fix — a tool that he asserts will bring in lots of money for the country while swiftly resetting trade relationships.A review of Mr. Trump’s comments about tariffs over the decades shows he has often been fairly vague on the topic, and only more recently came to describe them as the centerpiece of his approach to trade.Far more frequent and durable has been Mr. Trump’s repeated refrain that other countries are turning the United States into “suckers.” His references to tariffs often came as part of his description of a feeling of national injury that became common as the country’s manufacturing base began eroding. That attentiveness to trade as an issue, even absent a cohesive policy plan, helped Mr. Trump win in 2016.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 125 Shares80 Views

      in Elections

      What Happened in Trade Talks Between Japan and the U.S.

      by

      Tokyo had expected smooth tariff negotiations but is experiencing whiplash, becoming a central target of President Trump’s trade frustrations.Earlier this year, Japan’s relationship with the United States seemed to be on solid footing.Prime Minister Shigeru Ishiba met with President Trump at the White House in February and pledged to significantly boost investment in the United States. The two leaders talked about their “unwavering commitment” to what some U.S. diplomats have called the most important bilateral relationship in the world, bar none.Those ties appeared to count for something when the Trump administration announced so-called reciprocal tariffs on dozens of trading partners on April 2. Sure, the 24 percent rate handed to Japan from the top buyer of its goods was a blow. But Japan was the first major trade partner invited to Washington to negotiate those tariffs away.Now, Japan is dealing with diplomatic whiplash.On Monday, Mr. Trump delayed until Aug. 1 tariffs that were supposed to take effect on Wednesday for dozens of countries. Japan was among a subset of countries, along with a neighbor, South Korea, that received letters directing them to change what the White House called unfair trade policies.The announcement that Japan would be targeted with a new 25 percent tariff came after a week in which Mr. Trump repeatedly lashed out at the country, an ally, for its unwillingness to buy American cars and rice. He characterized Japan as “spoiled” and indicated that a trade deal was unlikely.On Tuesday, Mr. Ishiba said Japanese government officials had engaged in “earnest and sincere discussions” with counterparts in the United States. He called the U.S. announcement “deeply regrettable.”The international cargo terminal at the port in Tokyo.Kazuhiro Nogi/Agence France-Presse — Getty ImagesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 113 Shares76 Views

      in Elections

      Von der Leyen Faces No-Confidence Vote in Far-Right Challenge

      by

      Ahead of the vote on Thursday, Ursula von der Leyen, president of the commission, appeared before the European Parliament to defend herself against complaints about transparency.Ursula von der Leyen, president of the European Commission, is expected to face a no-confidence vote in the European Parliament this week. While the measure is likely to fail, it will be a symbolic challenge to the European Union’s top official at a time of high tension.Ms. von der Leyen appeared before Parliament on Monday for a debate to address the complaints against her ahead of the vote, which is scheduled for Thursday.The challenge originated from Europe’s far right: Gheorghe Piperea, a parliamentary newcomer from Romania who belongs to a political group that is often critical of the European Union, accused Ms. von der Leyen’s commission, the E.U.’s executive arm, of “failures to ensure transparency.”The complaint referred to a lawsuit filed by The New York Times over the commission’s denial of a request for records of text messages between Ms. von der Leyen and Dr. Albert Bourla, Pfizer’s chief executive, when she was trying to procure coronavirus vaccines.The General Court in Luxembourg sided with The Times, ruling in May that Ms. von der Leyen’s commission did not provide enough of an explanation in refusing the request for her text messages with the Pfizer executive.Mr. Piperea’s complaint also referred to the commission’s push to ramp up joint defense procurement and to carry out digital laws. He asserted in a filing that the commission’s behavior had been repeatedly opaque and “undermines trust.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 125 Shares99 Views

      in Elections

      Fed’s Interest-Rate Approach Keeps It on Collision Course With Trump

      by

      The central bank signals little urgency to cut interest rates despite demands from President Trump for lower borrowing costs.Just hours before the Federal Reserve was set to announce its latest decision on interest rates on Wednesday, President Trump unleashed a barrage of attacks on its chair, Jerome H. Powell.“I call him every name in the book trying to get him to do something,” Mr. Trump said at an event at the White House, where he bashed Mr. Powell for not slashing interest rates.“I’m nasty, I’m nice — nothing works,” he lamented as he called Mr. Powell a series of names, including “stupid” and “Mr. Too Late.”The central bank’s resolve in the face of what has been an unrelenting pressure campaign from the president was on full display on Wednesday. Policymakers held interest rates steady for a fourth straight meeting, and nearly half of them signaled in new projections less scope to cut interest rates this year in anticipation of resurgent inflation. The Fed’s benchmark interest rate is currently in a range of 4.25 percent to 4.5 percent.Mr. Powell was also unwavering in his message that the Fed could afford to take its time on interest rate cuts and would stick to a “wait-and-see” approach until officials had more clarity about how Mr. Trump’s policies were affecting the economy.That could take months, keeping the White House and the Fed on a collision course that economists say stems directly from Mr. Trump’s policies, including his global trade war.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 113 Shares99 Views

      in Elections

      Flattery or Discipline? The Difficult Task of Managing Trump.

      by

      Canada’s prime minister Mark Carney deployed both methods on the first day of the Group of 7 summit in Alberta to keep Mr. Trump focused and avoid drama.Prime Minister Mark Carney of Canada began by wishing President Trump a happy birthday. He emphasized the importance of U.S. leadership in the Group of 7 alliance, which is meeting in Alberta, Canada.But after seven minutes of questioning by journalists during which Mr. Trump complained about Russia’s absence at the summit and attacked Democrats over immigration policies, the host of the summit had heard enough.He took a step forward and into the center of the frame and effectively stopped the questioning, preventing the American president from saying more.With war raging in the Middle East and U.S. tariffs hammering his own country’s economy as well as global trade, Mr. Carney was intent on limiting the chances of a Trump-related derailment of the gathering.“If you don’t mind, I’m going to exercise my role, if you will, as G7 chair, since we have a few more minutes with the president and his team and then we actually have to start the meeting to address some of these big issues,” Mr. Carney said. “So, merci beaucoup.”With that, the press was rapidly escorted out of the room.The brief moment at the start of the gathering provided a window into a daunting challenge for world leaders entering the summit: Just what is the best way to manage Mr. Trump on the global stage?We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 138 Shares139 Views

      in Elections

      Trump’s Trade and Tax Policies Start to Stall U.S. Battery Boom

      by

      Battery companies are slowing construction or reconsidering big investments in the United States because of tariffs on China and the proposed rollback of tax credits.Battery manufacturing began to take off in the United States in recent years after Congress and the Biden administration offered the industry generous incentives.But that boom now appears to be stalling as the Trump administration and Republican lawmakers try to restrict China’s access to the American market.From South Carolina to Washington State, companies are slowing construction or reconsidering big investments in factories for producing rechargeable batteries and the ingredients needed to make them.A big reason for that is higher trade barriers between the United States and China are fracturing relationships between suppliers and customers in the two countries. At the same time, Republicans are seeking to block battery makers with ties to China, as well as those that rely on any Chinese technology or materials, from taking advantage of federal tax credits. The industry is also dealing with a softening market for electric vehicles, which Republicans and Mr. Trump have targeted. The China-related restrictions — included in the version of Mr. Trump’s domestic policy bill passed by the House — would be very difficult for many companies to operate under. China is the world’s top battery manufacturer and makes nearly all of certain components.The Trump policy bill highlights a difficult dilemma. The United States wants to create a homegrown battery industry and greatly reduce its dependence on China — and many Republican lawmakers want to end it altogether. But China is already so dominant in this industry that it will be incredibly hard for the United States to become a meaningful player without working with Chinese companies.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 138 Shares109 Views

      in Elections

      As Trump Returns to G7, Rift With Allies Is Even Deeper

      by

      In 2018, the president called for the group to embrace Russia and stormed out of the summit. Now he is seeking to shrink America’s military role abroad and embarking on a more expansive trade war.When President Trump last attended a Group of 7 meeting in Canada, he was in many ways the odd man out.At that meeting, in 2018, Mr. Trump called for the alliance of Western countries to embrace Russia, antagonized allies and ultimately stormed out of the summit over a trade battle he began by imposing metals tariffs on Canada.As he returns on Sunday for the Group of 7 meeting in Alberta, those fissures have only deepened. Since retaking office, the president has sought to shrink America’s military role abroad and made threats to annex the summit’s host after embarking on a much more expansive trade war.Mr. Trump is now facing a self-imposed deadline of early July to reach trade deals. His trade adviser even promised in April that the tariffs would lead to “90 deals in 90 days.” Despite reaching framework agreements with Britain and China, the administration has shown scant progress on deals with other major trading partners.The future of the president’s favored negotiating tool is uncertain as a legal battle over his tariffs plays out in the courts. But a failure to reach accords could lead the Trump administration to once again ratchet up tariffs and send markets roiling.“I think we’ll have a few new trade deals,” Mr. Trump told reporters at the White House on Sunday as he left for the summit.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 138 Shares149 Views

      in Elections

      Trump is Pushing Allies Away and Closer Into Each Other’s Arms

      by

      Important U.S. allies are trying to bolster their ties as the Trump administration shifts priorities and reshapes the world order.New trade deals. Joint sanctions against Israel. Military agreements.America’s closest allies are increasingly turning to each other to advance their interests, deepening their ties as the Trump administration challenges them with tariffs and other measures that are upending trade, diplomacy and defense.Concerned by shifting U.S. priorities under President Trump, some of America’s traditional partners on the world stage have spent the turbulent months since Mr. Trump’s January inauguration focusing on building up their direct relationships, flexing diplomatic muscles and leaving the United States aside.This emerging dynamic involves countries such as Britain, France, Canada and Japan — often referred to by international relations experts as “middle powers” to distinguish them from superpowers like the United States and China.“These are industrialized democracies, allies of the United States, supporting multilateral rules and institutions,” said Roland Paris, a professor of international relations and the director of the Graduate School of Public and International Affairs at the University of Ottawa.“And as the international order has been disintegrating, and the United States has been indicating that it’s less willing to underwrite it, what we’ve seen is a shift in the role of middle powers,” he added.That role, Professor Paris said, is characterized by the pursuit of “opportunistic and self-interested initiatives that are still collaborative,” including a slew of smaller agreements over trade and defense involving European countries and Canada.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More