trade war – Artifex.News https://artifex.news Stay Connected. Stay Informed. Wed, 12 Feb 2025 22:22:19 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png trade war – Artifex.News https://artifex.news 32 32 PM Modi Arrives In US, To Hold Bilateral Meeting With Donald Trump https://artifex.news/pm-modi-us-visit-live-prime-minister-narendra-modi-to-arrive-in-us-shortly-to-hold-bilateral-meeting-with-donald-trump-7697333/ Wed, 12 Feb 2025 22:22:19 +0000 https://artifex.news/pm-modi-us-visit-live-prime-minister-narendra-modi-to-arrive-in-us-shortly-to-hold-bilateral-meeting-with-donald-trump-7697333/ Read More “PM Modi Arrives In US, To Hold Bilateral Meeting With Donald Trump” »

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Prime Minister Narendra Modi has arrived in Washington DC Thursday (local time) for a bilateral meeting with President Donald Trump. PM Modi’s visit to the White House, scheduled for February 12-13, marks the fourth week of Trump’s second term in office.

The meeting between the two leaders comes amid heightened tensions surrounding Trump’s trade tariffs on several countries, his controversial Gaza peace plan, and his ongoing mass deportation of illegal immigrants. These issues are likely to feature prominently in their discussions as both leaders seek to strengthen bilateral ties.

PM Modi will be the fourth global leader to meet Trump at the White House since his inauguration on January 20.

The US president has already hosted Israel’s Prime Minister Benjamin Netanyahu, Japan’s Prime Minister Shigeru Ishiba, and Jordan’s King Abdullah during the early weeks of his second presidency.

During his visit, PM Modi is also expected to meet with Elon Musk in Washington. Reports indicate that the two leaders may discuss Starlink’s delayed plans to launch satellite broadband services in India.

Here are the Live Updates on PM Modi’s US visit:



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Canadian PM Trudeau’s Emotional Message To Americans After Trump Tariffs https://artifex.news/we-fought-died-with-you-canadian-pm-justin-trudeaus-emotional-message-to-americans-after-donald-trumps-tariffs-7615659/ Sun, 02 Feb 2025 07:30:08 +0000 https://artifex.news/we-fought-died-with-you-canadian-pm-justin-trudeaus-emotional-message-to-americans-after-donald-trumps-tariffs-7615659/ Read More “Canadian PM Trudeau’s Emotional Message To Americans After Trump Tariffs” »

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Ottawa:

After US President Donald Trump signed an executive order imposing 25 per cent tariffs on almost everything imported from Canada, outgoing Canadian Prime Minister Justin Trudeau offered a reminder to Americans that his country has been at their side in the “darkest hours” — be it Iran hostage crisis and war in Afghanistan, or deadly natural disasters such as Hurricane Katrina and the recent California wildfires. 

Addressing Americans directly from a press conference in Ottawa, Trudeau said he had no choice but to impose countermeasures.

“From the beaches of Normandy to the mountains of the Korean peninsula, from the fields of Flanders to the streets of Kandahar, we have fought and died alongside you during your darkest hours,” Trudeau said. “We’ve built the most successful economic, military and security partnership the world has ever seen…We’re always there, standing with you.”

Noting that the US and Canada have had differences in the past, Trudeau said that both countries always found a way to get past them. 

“As I’ve said before, if President Trump wants to usher in a new golden age for the United States, the better path is to partner with Canada, not to punish us,” he said.

“Unfortunately, the actions taken today by the White House split us apart instead of bringing us together,” Trudeau added.

Canada Hits Back

“Canada will be responding to the US trade action with 25 per cent tariffs against Can$155 billion ($106 billion) worth of American goods,” he said in a dramatic tone as he warned of a fracture in longstanding Canada-US ties.

The first round of tariffs would target Can$30 billion worth of US goods on Tuesday followed by further tariffs on Can$125 billion worth of products in three weeks.

“We’re certainly not looking to escalate. But we will stand up for Canada, for Canadians, for Canadian jobs,” Trudeau said.

He said the trade conflict will have “real consequences” for Canadians but also for Americans, who he said will suffer due to their President’s actions.

“Tariffs against Canada will put your jobs at risk, potentially shutting down American auto assembly plants and other manufacturing facilities,” the Canadian Prime Minister told US citizens. 

“They will raise costs for you, including food at the grocery store and gas at the pump,” he added.

The tariffs will apply to “everyday items” such as American beer, wine and bourbon as well as fruits, vegetables, consumer appliances, lumber and plastics, he added — “with much, much more.”

Trump’s Taxes

US President Donald Trump earlier announced broad tariffs on Canada, Mexico and China, citing a threat from illegal immigration and drugs.

Canadian exports to the United States will face a 25 per cent tariff starting Tuesday, although energy resources from Canada will have a lower 10 per cent levy.

The 9,000-km (5,600-mile) U.S.-Canada border handles over $2.5 billion in trade a day, especially in energy and manufacturing, according to Canadian government data from 2023.

In 2023, Canada exported close to C$550 billion worth of goods and services to the U.S., or more than three-fourths of its total exports. Energy accounted for 30 per cent and manufacturing contributed around 15 per cent to exports south of the border.

Exports to the US account for roughly 17.8 per cent of Canadian gross domestic product and more than 2.4 million jobs in Canada.
 





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Trade Wars, Culture Wars, And Anti-Immigration: Donald Trump’s Big Promises https://artifex.news/trade-wars-culture-wars-and-anti-immigration-donald-trumps-big-promises-7508170/ Sun, 19 Jan 2025 06:15:41 +0000 https://artifex.news/trade-wars-culture-wars-and-anti-immigration-donald-trumps-big-promises-7508170/ Read More “Trade Wars, Culture Wars, And Anti-Immigration: Donald Trump’s Big Promises” »

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A sweeping deportation program, ending “transgender lunacy,” “drill, baby, drill,” and peace for Ukraine: President-elect Donald Trump has vowed to move big and fast when he returns to the White House on Monday.

Here is a look at his sensational but frequently vague promises for a second term — much of them likely to be enacted through executive orders.

Immigration

Trump promises a hardline stance against an estimated 11 million undocumented migrants in the United States.

“When I am reelected, we will begin… the largest deportation operation in American history,” the Republican billionaire said on the campaign trail.

He also vowed to end birthright citizenship, calling it “ridiculous.”

To achieve those goals, Trump is weighing declaring a national emergency, which would allow him to unlock Pentagon resources.

Analysts also expect him to issue executive orders on other aspects of immigration policy, including possibly to terminate an app used by migrants hoping to petition for asylum.

However, birthright citizenship is guaranteed by the US Constitution, and any deportation program will face legal challenges as well as potential refusals by some countries to accept deportees.

Trade wars?

Trump has vowed to slap a 25 percent tariff on goods imported from Mexico and Canada — top US trading partners — as punishment for what he says is their failure to stem the flow of drugs and undocumented migrants into the United States.

But is Trump really ready to unleash a trade war with US neighbors, rupturing a North American free trade agreement? Some see this — and an even more provocative suggestion that Canada should be absorbed into the United States — as pre-negotiation bluster.

Beijing should also buckle up.

Trump has threatened to impose a 10 percent tariff on Chinese products, adding to existing tariffs that date back to his first term. Trump accuses China of allowing the chemical components used to make fentanyl.

January 6 pardons?

The president-elect has suggested he might pardon some or all of the people involved in the January 6, 2021 riot at the US Capitol, when his supporters tried to overthrow the 2020 election in which he lost to Democrat Joe Biden.

Trump has described them as “hostages” and “political prisoners” and said that he will be “making major pardons” in connection with the incident, but it remains unclear how he might differentiate cases involving violence against police officers.

More than 1,500 people have been charged with federal crimes in the deadly assault, and more than 1,100 of them have been sentenced.

Wars and diplomacy

Trump warned that “all hell will break out in the Middle East” if Hamas does not release Israeli hostages before his inauguration — and promptly took credit when a ceasefire and hostage release deal negotiated by the Biden Administration was announced Wednesday.

Trump also says he intends to quickly end Russia’s war against Ukraine, though it is unclear when or how he plans to do that.

After promising over the summer to end the nearly three-year conflict “in 24 hours,” Trump more recently suggested a timeline of several months.

Climate

Climate skeptic Trump has promised to “drill, baby, drill” for oil and gas.

He plans to repeal some of Biden’s key climate policies, such as tax credits for electric vehicles, which are meant to encourage a transition to a green economy.

Trump also wants to boost offshore drilling, though he might need to secure congressional support to do that. Biden has selected swaths of ocean as protected no-drill areas.

Transgender rights and race

“With the stroke of my pen on day one, we’re going to stop the transgender lunacy,” Trump said in December, vowing to “end child sexual mutilation, get transgender out of the military and out of our elementary schools and middle schools and high schools.”

He also said the US government would recognize only two genders, male and female.

Also among his plans is cutting federal funding to schools that have adopted “critical race theory,” an approach that looks at US history through the lens of racism.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)




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Donald Trump’s Tariff Talk Spurs Global Jitters, Countries May “Retaliate” https://artifex.news/donald-trumps-tariff-talk-spurs-global-jitters-countries-may-retaliate-7124419/ Thu, 28 Nov 2024 07:56:48 +0000 https://artifex.news/donald-trumps-tariff-talk-spurs-global-jitters-countries-may-retaliate-7124419/ Read More “Donald Trump’s Tariff Talk Spurs Global Jitters, Countries May “Retaliate”” »

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Donald Trump’s tariff threats have rattled foreign businesses and governments, with many fearing it could signal the opening salvo of an all-out trade war when he returns to the White House next year.

The president-elect on Monday placed both allies and rivals on notice, vowing to quickly slap an across-the-board tariff of 25 percent on Canada and Mexico, and add a 10 percent tariff on China.

Following through on that threat — or his campaign promise of a 10 percent levy on all US imports — will spark retaliation and have ripple effects across the global economy, analysts say.

“Our assumption is that all these other countries, all these other advanced economies, especially in Asia, they will retaliate in kind,” economist Bernard Yaros of Oxford Economics told AFP.

US tariffs and retaliation including from Europe and Asia would “depress growth” and trade flows, he said, estimating a cut to global growth of 0.1 to 0.9 percentage points in 2026.

Even before tariffs take effect, threats weigh on sentiment and could delay investments and hiring, ING economists Ruben Dewitte and Inga Fechner warned in a note.

Trump has long viewed tariffs as a negotiating tool — or an “all-purpose bludgeon” as a recent Wall Street Journal editorial put it.

On Monday, Trump said that the tariffs on Mexico and Canada would only be removed when illegal immigration and drug trafficking to the United States are stopped.

While seeking to build US leverage, he also risks longer term impacts, with some suggesting he would push countries toward China, Columbia Law School professor Petros Mavroidis said.

“What he definitely does is alienate all his allies,” he told AFP.

Erin Murphy, senior fellow at the Center for Strategic and International Studies, said in Trump’s threats “there is no differentiation” regarding countries’ economic development status or affinity with Washington.

Europe pushback

Europe could be particularly impacted, Dewitte and Fechner said, warning that “a looming new trade war could push the eurozone economy from sluggish growth into recession.”

EU tariffs on car imports were a particular target of Trump during his campaign.

But US reliance on the bloc for strategically important products, mainly in the chemical and pharmaceutical sectors, could give the EU some leverage in talks, ING said.

“European countries will be less likely to strike any kind of bargain with Trump than Canada or Mexico,” said Peterson Institute for International Economics nonresident senior fellow Gary Hufbauer.

He expects the EU could offer to reduce auto tariffs and buy more US agricultural products like soybeans, but it may not be enough for an administration seeking greater market access or rules exemptions.

Should the US impose tariffs, the EU will probably retaliate on iconic US goods like iPhones or whiskey, he said.

European countries could turn to the World Trade Organization (WTO), though even favorable rulings from the international body may not significantly change US practices.

EU chief Ursula von der Leyen has said she will work towards “constructive cooperation” with US authorities.

Jovita Neliupsiene, the EU ambassador to the United States, meanwhile said the bloc is ready to respond to new trade frictions.

Avoiding escalation

In Asia, economies like Japan and South Korea could be targeted over metals and auto exports, while Vietnam may also draw US scrutiny over solar panels, Yaros said.

The US trade deficit with Vietnam has widened in recent years on a surge in goods imports.

Yaros said that countries targeted by Trump’s tariffs, in seeking to avoid escalation, will “retaliate in a way that’s commensurate to the action done by the US, but no greater.”

China, based on precedent, might eschew equal retaliation for tools like export controls, he added.

Daniel Russel of the Asia Society Policy Institute said both Tokyo and Seoul are very focused on preparing for potential tariffs.

He expects partners like South Korea could seek exemptions from blanket US tariffs, for example, by citing its high-tech investments in America.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)




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Here’s What Gets More Expensive For American Consumers https://artifex.news/trump-tariffs-heres-what-gets-more-expensive-for-american-consumers-7118110/ Wed, 27 Nov 2024 11:28:25 +0000 https://artifex.news/trump-tariffs-heres-what-gets-more-expensive-for-american-consumers-7118110/ Read More “Here’s What Gets More Expensive For American Consumers” »

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Washington:

President-elect Donald Trump has vowed to slap a 25% tariff on all goods imported from America’s largest trading partners – Mexico and Canada, starting January 20, his first day in office.

But this tariff imposition is also set to have severe implications on his own countrymen, who may face higher prices on various goods.

His first term was marked by a significant trade war with China, aimed at boosting US manufacturing, securing national security interests, and addressing what Trump believed was an extremely imbalanced trade relationship.

President Joe Biden maintained most of these tariffs and even added new ones.

But the new tariffs come at a time when the US has grown increasingly reliant on imports from Mexico and Canada. Mexico has overtaken China as the top exporter of goods to the US, while Canada is a close third. This means that the new tariffs will be virtually inescapable for Americans, as businesses facing higher costs will likely pass them on to consumers.

This potential trade war could break banks. Here are a few items that could get more expensive if Trump decides to follow through with his tariff plan.

Gas

The US imports a significant amount of crude oil from Canada, which is refined to produce gasoline and heating oil. A 25% tariff could lead to an increase of 25-75 cents per gallon, impacting Americans in the Great Lakes, Midwest, and Rockies regions.

After Canada’ expansion of the Trans Mountain pipeline, the oil imports to the US had reached a whopping 4.3 million barrels per day.

“You can’t simply process different oil overnight. It would take investments/years. More US supply wouldn’t help,” Patrick De Haan, the head of petroleum analysis at GasBuddy said on X.

Produce

As a byproduct of climate change, the US has become less favourable for agriculture and relies heavily on Mexico. 

$44.1 billion worth of agricultural products were imported by the US from Mexico in 2022.

90% of avocados Americans also consumed in 2022 were imported. A 25% tariff could make guacamole and avocado toast more expensive.

Cars

Mexico is a major hub for car manufacturing, with many US carmakers relying on parts from Mexico to build their vehicles. A 25% tariff could disrupt this supply chain and lead to higher car prices.

Last year, $44.76 billion worth of vehicles were imported from Mexico to the US.

Alcohol

According to US Department of Agriculture data, 80% of beer imports come from Mexico. Moreover there is tequila that comes from Mexico and other liqueurs from Canada that drives import growth.

In 2023, $4.6 billion worth of tequila and $108 million worth of mezcal was imported by the US from Mexico, according to the Distilled Spirits Council.

The tariffs of spirits are bound to start a chain reaction leading to job losses in the hospitality industry as well, which are still on their way to recovery after the pandemic.

The tariffs on these imports are bound to hurt the consumers if businesses face higher costs. Trump’s tariff plan has already sparked concerns among businesses and economists, who warn that it could lead to higher prices, job losses, and a decline in economic growth.
 




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