U.S. Trade Deficit Plunges 24 Percent As Trump’s Tariffs Reshape Global Markets, Push Imports Down, And Raise Prices For American Consumers

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#USTradeDeficit #TrumpTariffs #GlobalMarkets #Inflation #ConsumerPrices #USCommerce #Imports #Exports #TradeWar #News #WorldNews #noticias

Port of New Orleans Expands Federal Trade Zone to St. Tammany Parish Excerpt: #PortNOLA gains #USCommerce approval to expand its #FederalTradeZone into #StTammanyParish, strengthening trade access, reducing import duties, and boosting regional competitiveness across #Louisiana’s growing logistics network........

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#PortNOLA gains #USCommerce approval to expand its #FederalTradeZone into #StTammanyParish, strengthening trade access, reducing import duties, and boosting regional competitiveness across #Louisiana’s growing logistics network........

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Trump eyes Aug 1 trade deals as EU, China talks continue, US Commerce chief says WASHINGTON (Reuters) -President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump’s self-imposed Aug. 1 deadline. U.S. and EU officials were still discussing steel and aluminum tariffs as well as digital services regulations following their framework announced on Sunday, Lutnick told CNBC in an interview, adding that talks with China were also "their own thing". "But for the rest of the world, we’re going to have things done by Friday," he said in the interview. Asked about remaining uncertainties surrounding the U.S.-EU agreement, Lutnick said Trump was working "to get things done now." He said pharmaceuticals were a key part of the EU deal so that medicines made in European countries—home to several major drugmakers—would see their products included in the 15% tariff. "It was important for them to have pharmaceuticals be part of the deal at 15% because President Trump is going to come out in the next two weeks with his pharmaceutical policy, and it is going to be higher," he said.

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Original post on beige.party

Consciously using the Fediverse for mental health today -- so pleez cut me some slack.
Or, you can just scroll on, if you prefer.
I AM going to name names.
My nearby local Rite Aid pharmacy sent me a letter 13 days after they closed to let me know they were transferring my prescriptions to a CVS […]

Secretary Raimondo outlines oversight measures for $50 billion CHIPS funding Raimondo details risk team and milestone-based funding to ensure compliance and prevent fraud

Secretary Raimondo unveils a robust strategy to safeguard $50 billion in taxpayer funds for the CHIPS Act, tackling fraud with unprecedented oversight measures.

Get the details!

#US #CitizenPortal #FundingTransparency #TaxpayerAccountability #FraudPrevention #USCommerce

Trump warns court ruling against tariffs could lead to ‘economic ruination’ of US
#TrumpTariffs #EconomicPolicy #USCommerce
www.youtube.com/watch?v=43ho...

Trump has deal to ease auto tariffs, U.S. Commerce Secretary says President Donald Trump has brokered a deal to soften auto tariffs ahead of the president's visit to Michigan on Tuesday, U.S. Commerce Secretary Howard Lutnick said Monday. “President Trump is building an important partnership with both the domestic automakers and our great American workers," Lutnick said in a statement sent by the White House. "This deal is a major victory for the president’s trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.” Details weren't disclosed, but the confirmation of a deal first reported by the Wall Street Journal comes ahead of a rally Tuesday in Macomb County set to mark Trump's first 100 days in office. That's just days before a 25% tariff on certain auto parts imported into the United States is set to take effect on Saturday, after the United States began collecting a 25% duty on imported vehicles in early April. Trump has insisted the tariffs would increase U.S. production, create well-paying manufacturing jobs and generate federal revenues to lower taxes and pay off national debt. But automakers, suppliers and analysts have warned full implementation of those import taxes would be costly, could disrupt supply chain and might increase prices for consumers. They've called for trade deals that offer certainty and stability for making future decisions. Two weeks ago, Trump said he was looking at "help" for the auto industry to give companies "a little bit of time" to move manufacturing to the United States from elsewhere. Ford Motor Co. CEO Jim Farley, in a statement late Monday, said the Dearborn automaker will continue to work with the administration to support the president's vision for a "healthy and growing auto industry in America." "Ford welcomes and appreciates these decisions by President Trump, which will help mitigate the impact of tariffs on automakers, suppliers and consumers," Farley said. "Ford sees policies that encourage exports and ensure affordable supply chains to promote more domestic growth as essential. As the right policies are put in place, it will be important for the major vehicle importers to match Ford’s commitment to building in America." Eighty percent of the vehicles Ford sells in the United States are assembled in the country, according to financial analytics firm S&P Global Inc., and it builds and exports more vehicles made in the United States than any other. "If every company that sells vehicles in the U.S. matched Ford’s American manufacturing ratio, 4 million more vehicles would be assembled in America each year," Farley added. "The U.S. would see a windfall of new assembly and supplier factories and hundreds of thousands of new jobs." General Motors Co. CEO Mary Barra said in a statement late Monday night that the Detroit automaker was "grateful to President Trump for his support of the U.S. automotive industry and the millions of Americans who depend on us." "We believe the president’s leadership is helping level the playing field for companies like GM and allowing us to invest even more in the U.S. economy," she said. "We appreciate the productive conversations with the president and his administration and look forward to continuing to work together."  Last week, industry trade groups representing automakers, dealers and suppliers sent a joint letter to top Trump administration officials urging relief from tariffs on auto parts set to take effect next month. Six of the auto industry's biggest lobbying groups signed onto the letter, presenting a rare unified front against 25% import taxes set for May 3 on more than 100 categories of auto parts ranging from engines to steering wheels to hinges and more. The organizations warned of supply chain failures and job losses that would trigger COVID-like disruptions to the U.S. auto industry and states like Michigan that rely on it as an economic driver. Trump has insisted that tariffs on imported vehicles and auto parts would coerce auto businesses to rebuild their U.S. manufacturing presence after decades of offshoring. He featured unionized auto workers at his April 2 "Liberation Day" unveiling of other global tariffs, telling the crowd that "foreign cheaters have ransacked our factories and foreign scavengers have torn apart our once beautiful American dream." The Center for Automotive Research in Ann Arbor has estimated a total of $107.9 billion in costs from tariffs for all U.S. automakers. It expects 6.8 million vehicles would be affected annually by the tariffs at General Motors, Ford and Chrysler parent Stellantis NV. Across the industry, that would increase to 17.7 million affected vehicles. In Michigan, the auto industry accounts for about 20% of economic activity, according to a MichAuto report. bnoble@detroitnews.com @BreanaCNoble Want to comment on this story? Become a subscriber today. Click here. This article originally appeared on The Detroit News: Trump has deal to ease auto tariffs, U.S. Commerce Secretary says

Trump has deal to ease auto tariffs, U.S. Commerce Secretary says #Trump #AutoTariffs #USCommerce

The U.S. Department of Commerce has confirmed major tariffs on solar panels imported from Southeast Asia, focusing on Cambodia, Malaysia, Thailand, and Vietnam.

#SolarEnergy #Tariffs #CleanEnergy #USCommerce #SoutheastAsia #SolarIndustry #GreenTech #TradeWar #ChinaTrade #RenewableEnergy

US defends tariffs on remote island of penguins and seals The US Commerce Secretary has defended the country’s decision to impose tariffs on a group of uninhabited islands, which are populated only by penguins and seals. The imposition of tariffs on the Heard and McDonald islands were meant to close “ridiculous loopholes” and would prevent other countries from shipping through the islands to reach the US, Howard Lutnick told the BBC’s US partner CBS. Authorities in Australia reacted with surprise last week when they found out about the tariffs on the island, which sits 4,000km (2,485 mi) from Australia. Its trade minister Don Farrell told news outlet ABC that the imposition of tariffs was “clearly a mistake” indicating a “rushed process”. But when asked about the inclusion of the Australian territory on Trump’s tariffs list, Lutnick said: “If you leave anything off the list, the countries that try to basically arbitrage America go through those countries to us.” “The President knows that, he’s tired of it, and he’s going to fix that.” Lutnick’s interview was one of several given by US government officials to defend the president’s new tariffs after all three major stock indexes in the US plunged more than 5% on Friday, in the worst week for the US stock market since 2020. Shipping products through one port to another in a process known as transshipment is common in global trade. But Pew Charitable Trusts, a public policy organisation, says this method can also “enable bad actors to obscure or manipulate data” around the shipping events. The NGO estimates that hundreds of millions of dollars of tuna and similar species are illegally moved via this method in the western and central Pacific each year. It’s difficult to get a clear picture on the imports from the Heard and McDonald islands to the US. According to export data from the World Bank, the islands have, over the past few years, usually exported a small amount of products to the US. But in 2022 the US imported US$1.4m (A$2.23m; £1.08m) ) from the territory, nearly all of it unnamed “machinery and electrical” products. Also included on Trump’s list was the British Indian Ocean territory, which is solely occupied by military personnel and requires a permit to visit. World Bank export data shows the territory exported US$414,350 to the US in 2022. – BBC The post US defends tariffs on remote island of penguins and seals appeared first on The Namibian.

#Tariffs #Economy #TradePolicy #USCommerce #Australia

Trump may implement copper tariffs within weeks Bloomberg reports that Trump may expedite the timeline for imposing tariffs on U.S. copper imports. Initially, the Commerce Department was granted 270 days from February 2025 to investigate and report on the potential tariffs. However, recent developments suggest that these tariffs could be implemented within weeks, significantly ahead of the original deadline. ​ This acceleration has led to a surge in U.S. copper imports, with estimates indicating an influx of approximately 500,000 tons—far exceeding the typical monthly average of 70,000 tons. Traders are rushing to import copper before the tariffs take effect, aiming to avoid the anticipated cost increases. ​ The potential tariffs are part of the administration's broader strategy to bolster domestic copper production, a metal deemed critical for various industries, including electric vehicles, military hardware, and consumer electronics. While the move aims to enhance national production capabilities, it has also introduced volatility in the copper market, with traders attempting to navigate the implications of the impending tariffs. ​ In response to these developments, U.S. companies are exploring alternative sources for copper, considering suppliers from countries like Chile and Peru to mitigate the impact of the tariffs. This shift underscores the broader ramifications of the administration's trade policies on global supply chains and market dynamics. --- More from Trump: * Not many exceptions to April 2 tariffs * All we are doing is reciprocal * I'll likely be more lenient than reciprocate Earlier: Copper futures extend to new all time highs on tariff fears This article was written by Eamonn Sheridan at www.forexlive.com.

| ctrendfx.com | bit.ly/CTrendFX1 #Trump #CopperTariffs #CopperImports #TradePolicy #USCommerce

Tourism in the USA will be down sharply for years to come. Likely losses of $1 Trillion USD annually. #florida #MGM #lasvegas #nyc #miami #snowbirds #travelbans #traveladvisories #travelusa #travel #orlando #losangeles #tourism #uscommerce #usgov #trump #musk

The Commerce Department finalizes key CHIPS Act investments, boosting 🇺🇸 semiconductor manufacturing for defense, space, and tech innovation 🚀🔬💻 #chipsact #semiconductors #manufacturing #innovation #defensetechnology #uscommerce

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