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Tag: trade
February 13, 2025
William Upton
Economy
World

BREAKING: President Trump Will Impose Reciprocal Tariffs on Countries Taxing U.S. Exports.

President Donald J. Trump is issuing an order to impose reciprocal tariffs on foreign nations that have already instituted their own tariffs on American exports. The proposed tariffs aim to end unfair trade practices that tilt international markets against American companies and products, an issue that President Trump has repeatedly emphasized for decades and argues has undermined both the national interest and the United States economy.

“On trade, I have decided for purposes of fairness that I will charge a reciprocal tariff—meaning whatever countries charge the United States of America, we will charge them. No more, no less,” Trump said during a Thursday press conference at the White House. He continued: “In other words, they charge us a tax or tariff and we charge them the exact same tax or tariff. In almost all cases, they’re charging us vastly more than we change them. But those days are over.”


Notably, Trump says he intends to impose tariffs on countries that have enacted a Value Added Tax (VAT). The European Union’s member states, which use a stringent VAT system, would be the most prominently impacted countries.

Once enacted, the tariffs will target a wide range of goods—though automobiles, manufacturing, and raw industrial materials are among the most prominent products targeted. Already, President Trump has instituted a new 10 percent tariff on goods from China and initiated—but paused—tariffs of 25 percent on goods imported from Mexico and Canada; the latter tariffs are intended to push Canada and Mexico to crack down on drug trafficking across their borders with the U.S.

Critics of President Trump’s tariff plans claim their imposition will increase prices for American consumers. However, The National Pulse has previously detailed that this claim is—for the most part—untrue. Tariffs are paid by the importing company on the cost of the product or good at the point of production. This means a 25 percent tariff—for instance—is on the price at the point of production and not on the sale price consumers see.

Additionally, reciprocal tariffs are intended to level the playing field in international trade by matching import taxes foreign nations have already imposed on U.S. exports.

Image by Gage Skidmore.

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President Donald J. Trump is issuing an order to impose reciprocal tariffs on foreign nations that have already instituted their own tariffs on American exports. The proposed tariffs aim to end unfair trade practices that tilt international markets against American companies and products, an issue that President Trump has repeatedly emphasized for decades and argues has undermined both the national interest and the United States economy. show more
February 11, 2025
William Upton
Economy
World

Trump Reinstates Steel and Aluminum Tariffs, Closing Loopholes that Benefited China.

Late Monday night, President Donald J. Trump announced he has reinstated 25 percent tariffs on steel and aluminum imported from a handful of countries previously exempt from the tariffs. According to the President, the move is necessary to close loopholes used by the People’s Republic of China to continue dumping their cheap steel on American markets.

“The countries of Argentina, Australia, Brazil, Canada, Japan, Mexico, South Korea, the European Union, Ukraine, and the United Kingdom had received exemptions, which prevented the tariffs from being effective,” the Trump White House explains, adding: “By granting exemptions to certain countries, the United States inadvertently created loopholes that were exploited by China and others with excess steel and aluminum capacity, undermining the purpose of these exemptions.”

According to President Trump, the 25 percent steel and aluminum tariffs are derived from his authority under Section 232 of the Trade Expansion Act of 1962, which allows the White House to unilaterally adjust certain tariff rates in the name of national security. This authority was used by Trump in 2018 to institute a 25 percent tariff on steel and a 10 percent tariff on aluminum. The White House has indicated that the tariffs will remain in place until America’s domestic steel and aluminum industries “achieve[e] sustainable capacity utilization of at least 80 [percent].”

During Trump’s first term in office, domestic capacity utilization for steel reached 81 percent but fell under the Biden government to just 75.3 percent in 2023. Meanwhile, aluminum jumped from 40 percent to 61 percent under Trump, again falling to 55 percent in 2023.

Image by Gage Skidmore.

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Late Monday night, President Donald J. Trump announced he has reinstated 25 percent tariffs on steel and aluminum imported from a handful of countries previously exempt from the tariffs. According to the President, the move is necessary to close loopholes used by the People's Republic of China to continue dumping their cheap steel on American markets. show more
February 5, 2025
William Upton
Economy
World

Trump’s Tariffs Aren’t Just About Leverage on Fentanyl and Immigration.

The federal government’s budget deficit isn’t the only fiscal crisis President Donald J. Trump has begun to aggressively tackle in his first few weeks in the White House. Trump is also taking initial steps to end the United States’s long-standing international trade imbalance—an economic problem at the very core of the America First agenda. The recent moves to impose tariffs on China—and potentially Canada and Mexico—are giving some insight into how Trump intends to solve the trade dilemma.

In 2024, under former President Joe Biden’s Democrat-controlled White House, the United States trade deficit surged to almost $1.2 trillion—the highest on record. The trade deficit is the gap between what the United States sells in the form of exports and buys in the form of imports. While global consumerism is a powerful tool for the U.S. federal government to wield, the continued widening gap between American exports and imports suggests significant economic vulnerabilities.

Throughout the 2024 campaign and in the initial days in power, Trump has begun to roll out an aggressive plan to end the trade deficit and imbalances through tariffs, tax incentives, and slashing regulation to drive the restoration of jobs—especially in the manufacturing sector. Trump correctly points to the trade deficit as being indicative of greater problems in the American economy, stemming from a lack of action against currency manipulators, the overregulation of American businesses, and outdated trade agreements.

China—along with several other Asian nations—and the European Union (EU) are some of the primary drivers of the American trade deficit. In the case of China, the country’s communist regime uses a variety of tools, including currency manipulation, wage suppression, and heavy state subsidies, to attract foreign manufacturing and other production. This strategy has catapulted China to the top of the world’s exporter list. Meanwhile, the Chinese Communist Party (CCP) has been careful to keep foreign imports low, tilting global trade markets heavily in their favor.

Meanwhile, the EU—which also holds the advantage in a trade imbalance with the United States—maintains its advantage through high tariffs on American goods like steel and automobiles. Within the EU, Germany is one of the biggest drivers of the trade imbalance and a beneficiary of an outdated agreement with the United States, made in the aftermath of World War II, which allows them to tariff our steel and auto exports.

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The federal government's budget deficit isn't the only fiscal crisis President Donald J. Trump has begun to aggressively tackle in his first few weeks in the White House. Trump is also taking initial steps to end the United States's long-standing international trade imbalance—an economic problem at the very core of the America First agenda. The recent moves to impose tariffs on China—and potentially Canada and Mexico—are giving some insight into how Trump intends to solve the trade dilemma. show more
February 4, 2025
Economy
World

China Announces Retaliatory Measures in Response to Trump’s Tariffs.

The People’s Republic of China is imposing retaliatory trade measures and restrictions after U.S. President Donald J. Trump imposed a new 10 percent tariff on goods imported from the communist country. Beijing announced on Tuesday that it has instituted tariffs on the importation of American coal, crude oil, farming equipment, trucks, and sedans. The Chinese tariff on coal is set at 15 percent, and the tariff on crude oil is 10 percent.

Initially, Canada and Mexico were also set to have tariffs imposed on their exports to the United States. However, both countries made eleventh-hour overtures to increase their cooperation with American border security and anti-drug trafficking efforts, leading President Trump to pause the imposition of tariffs on both.

While China’s autocratic President Xi Jinping and Trump were expected to discuss the tariffs and measures China needs to take to curb the export of fentanyl precursors to Mexican drug cartels on Tuesday, the call was abruptly canceled after the Asian nation announced its retaliatory response. Additionally, China is moving to initiate an antitrust investigation into the technology giant Google—a move considered part of the Chinese retaliation.

International trade experts note that the Chinese response was more measured than their actions when Trump imposed trade tariffs on the communist country during his first term. China’s newest move only impacts about $14 billion in American goods, far less than the Chinese goods affected by Trump’s tariffs.

During the prior trade fight, China moved to meet the U.S.-imposed tariffs point for point and suffered economic blowback.

The tariffs imposed by President Trump during his first term accelerated the American economy’s decoupling from its reliance on Chinese imports.

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The People's Republic of China is imposing retaliatory trade measures and restrictions after U.S. President Donald J. Trump imposed a new 10 percent tariff on goods imported from the communist country. Beijing announced on Tuesday that it has instituted tariffs on the importation of American coal, crude oil, farming equipment, trucks, and sedans. The Chinese tariff on coal is set at 15 percent, and the tariff on crude oil is 10 percent. show more
February 3, 2025
Economy
World

Trump Says He Will Impose Tariffs on the EU ‘Soon.’

President Donald J. Trump has signaled the possibility of imposing tariffs on European Union (EU) imports following similar actions against Canada and China. Tariffs on Mexico, originally part of the same executive order addressing Canada and China, were delayed by one month on Monday after Mexico’s President Claudia Sheinbaum announced she would send 10,000 Mexican National Guard to help secure and prevent the flow of fentanyl over the U.S. southern border.

Speaking with the press in Maryland as he returned to the White House from a brief trip to Florida, Trump said the imposition of tariffs on the EU could happen “pretty soon.” While the measures enacted against Canada—and potentially Mexico—are aimed at pushing the two countries neighboring America to crack down on the cross-border illicit drug trade and illegal immigration, tariffs against the EU would be more likely intended to end its trade imbalance with the U.S. in the automobile and agricultural sectors.

“They don’t take our cars, they don’t take our farm products, they take almost nothing and we take everything from them. Millions of cars, tremendous amounts of food and farm products,” President Trump said, clarifying that the United Kingdom would likely not face similar measures as the EU thanks to Brexit. While the President does contend that some British trade practices are “out of line,” he emphasized that a trade deal with Prime Minister Keir Starmer can be worked out.

EIGHTY YEARS OF UNFAIR TRADE. 

The EU has expressed strong opposition to Trump’s tariff strategies against Canada, Mexico, and China, promising a response if targeted. Notably, the United States has a significant trade deficit with the EU’s leading economy, Germany.

Since the end of World War II, the American government has allowed Germany to maintain high tariffs on U.S. automobiles and steel without retaliation. The policy—established under the Marshall Plan in 1948—was intended to rebuild the German economy and prevent it from falling under the influence of the Soviet Union.

Today, the German economy is the largest in Europe and the third-largest in the world, and the Soviet Union no longer exists.

Image by Burçak Pekin.

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President Donald J. Trump has signaled the possibility of imposing tariffs on European Union (EU) imports following similar actions against Canada and China. Tariffs on Mexico, originally part of the same executive order addressing Canada and China, were delayed by one month on Monday after Mexico's President Claudia Sheinbaum announced she would send 10,000 Mexican National Guard to help secure and prevent the flow of fentanyl over the U.S. southern border. show more
trump dollar cash money
February 3, 2025
William Upton
Economy

Will Trump’s Tariffs REALLY Increase Consumer Costs? The So-Called ‘Trade War’ Explained.

Mexico, Canada, and China were expected to announce retaliatory measures on Monday against the United States after President Donald J. Trump initiated broad-based tariffs on goods imported from the three countries. At midnight, an executive signed by Trump will take effect, imposing a 25 percent tariff on most goods imported into the country from Canada. The tariff on Mexico has been delayed for one month, according to an agreement announced by Trump and Mexican President Claudia Scheinbaum. In addition, a 10 percent tariff is being imposed on certain goods imported from China—this is on top of tariffs imposed on the Asian nation by Trump during his first term and largely left in place by former President Joe Biden.

Canada is expected to raise tariffs on American lumber, plastics, and other industrial products in response. Meanwhile, Mexico will likely target American agricultural products as well. China has also stated it will take retaliatory measures but has offered no further details.

INFLATION? UNLIKELY. 

While President Trump’s political opponents claim his imposition of tariffs—which the White House explains are to put pressure on Canada and Mexico to curb the flow of fentanyl into the U.S.—will cause a resurgence of inflation and price increases on everyday goods, this will not likely be the case.

Broadly speaking, tariffs are an excise tax on imports. Goods with an elastic supply—meaning they can be sourced domestically or from countries other than Canada, Mexico, or China—will mostly be unaffected as supply chains shift. Most agricultural goods are elastic, and consumers are unlikely to see any significant increase in grocery costs.

U.S. Treasury Secretary Scott Bessent has also disputed claims that tariffs are inflationary. The former macro fund manager and economist argues that tariffs—like other forms of taxation—decrease demand, which has a deflationary effect. Notably, the most infamous tariff in American history, the Smoot-Hawley tariff enacted in the early stages of the Great Depression, had a deflationary impact.

MINIMAL IMPACT ON CONSUMERS.

Despite the dubious claims made by Democrat lawmakers and their corporate media allies, the overall impact of the 25 percent tariffs on Mexico and Canada is likely to be minimal and short-lived. The tariff itself applies to the cost of the product at import, which is well below its retail value. This means that your Mexican avocado, which costs $2.00 at the grocery, will only increase by 25 percent of its import cost—usually pennies on the dollar—and not its retail value.

Lastly, the so-called “trade war” sparked by the Trump White House’s imposition of tariffs is unlikely to endure for an extended period. Canada’s and Mexico’s economies heavily rely on exporting goods to the United States. Additionally, both countries have economies far smaller than America’s—Canada’s GDP in 2023 was $2.14 trillion (USD), and Mexico’s was $1.789 trillion (USD), while the United States saw a total GDP of $27.36 trillion (USD).

Neither Canada nor Mexico—with economies roughly 10 percent the size of the American economy—can absorb the economic decline resulting from the lower number of exports.

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Mexico, Canada, and China were expected to announce retaliatory measures on Monday against the United States after President Donald J. Trump initiated broad-based tariffs on goods imported from the three countries. At midnight, an executive signed by Trump will take effect, imposing a 25 percent tariff on most goods imported into the country from Canada. The tariff on Mexico has been delayed for one month, according to an agreement announced by Trump and Mexican President Claudia Scheinbaum. In addition, a 10 percent tariff is being imposed on certain goods imported from China—this is on top of tariffs imposed on the Asian nation by Trump during his first term and largely left in place by former President Joe Biden. show more
January 22, 2025
William Upton
Economy
NatSec

JPMorgan Chief Jamie Dimon Tells Trump Tariff Critics to ‘Get Over It.’

JPMorgan Chase CEO Jamie Dimon is throwing his support behind President Donald J. Trump’s plan to enact aggressive tariffs on foreign trade. Speaking with the media on Wednesday at the World Economic Forum (WEF) in Davos, Switzerland, Dimon described Trump’s tariffs as a beneficial “economic weapon.”

“If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” Dimon said, adding: “National security trumps a little bit more inflation.”

However, President Trump’s tariffs may not even prove to be inflationary. The levies, by their nature, cause ‘demand destruction’ by suppressing the demand for foreign goods, which actually has a deflationary effect on prices. Some exporters may choose not to pass the costs of the tariffs on to consumers to avoid this.

Dimon, who heads the largest bank in the United States, emphasized that Trump’s tariff plan is aimed at protecting American economic and national security interests. Additionally, the JPMorgan Chase CEO argued the plan will bring foreign trade partners back to the negotiating table to address unfair imbalances.

HISTORY.

During Trump’s first term, Dimon had been vocal about the potential economic threats posed by tariffs. In multiple instances in 2018, he stated they “wouldn’t be a positive,” and in 2019, he continued to express concerns about their effects. However, early last year the banking titan appeared to warm to Trump, stating the America First leader “wasn’t wrong” about everything. Dimon specifically noted Trump’s push for NATO member countries to increase their defense budgets and the need to halt illegal immigration. In addition, he admitted Trump’s tariffs on China spurred a successful decoupling of the U.S. economy from America’s Asian adversary.

Trump, in his second term, has announced plans to introduce 25 percent tariffs on Canadian and Mexican products by next month, along with a 10 percent tariff on imports from China. In light of these plans, Dimon has reconsidered the utility of tariffs in international negotiations. He stated, “The question is how they get used… Can they be used to bring people to the table? Yes.”

Image by Stefen Chow/Fortune Global Forum.

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JPMorgan Chase CEO Jamie Dimon is throwing his support behind President Donald J. Trump's plan to enact aggressive tariffs on foreign trade. Speaking with the media on Wednesday at the World Economic Forum (WEF) in Davos, Switzerland, Dimon described Trump's tariffs as a beneficial "economic weapon." show more
peter navarro
December 4, 2024
William Upton
TRUMP TRANSITION 2024/5

Peter Navarro WILL Return to Trump White House as Senior Counselor.

Economist Peter Navarro will be returning to the White House, with President-elect Donald J. Trump announcing the tariff and trade guru will serve as his Senior Counselor for Trade and Manufacturing. After the Capitol riots on January 6, 2021, Navarro became a prime target of the lawfare campaign waged by Congressional Democrats and the Biden government—ultimately serving four months in federal prison for contempt of Congress.

During President Trump’s first term in office, Navarro—a Harvard Ph.D. economist—served as the White House’s Director of Trade and Manufacturing Policy and was one of the administration’s staunchest opponents of China. In addition, the University of California, Irvine professor emeritus is continuing to fight an appeal of his contempt of Congress conviction on constitutional grounds—with the case possibly heading to the U.S. Supreme Court.

The National Pulse reported in May that Trump said he absolutely would bring Navarro back to his second presidential administration.

“I am pleased to announce that Peter Navarro, a man who was treated horribly by the Deep State, or whatever else you would like to call it, will serve as my Senior Counselor for Trade and Manufacturing. During my First Term, few were more effective or tenacious than Peter in enforcing my two sacred rules, Buy American, Hire American. He helped me renegotiate unfair Trade Deals like NAFTA and the Korea-U.S. Free Trade Agreement (KORUS), and moved every one of my Tariff and Trade actions FAST,” President-elect Trump wrote on Truth Social.

Trump continued: “….The Senior Counselor position leverages Peter’s broad range of White House experience, while harnessing his extensive Policy analytic and Media skills. His mission will be to help successfully advance and communicate the Trump Manufacturing, Tariff, and Trade Agendas.”

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Economist Peter Navarro will be returning to the White House, with President-elect Donald J. Trump announcing the tariff and trade guru will serve as his Senior Counselor for Trade and Manufacturing. After the Capitol riots on January 6, 2021, Navarro became a prime target of the lawfare campaign waged by Congressional Democrats and the Biden government—ultimately serving four months in federal prison for contempt of Congress. show more
December 3, 2024
William Upton
Economy
Politics

President-Elect Trump Vows to Block Japanese Takeover of U.S. Steel.

President-elect Donald J. Trump says he will block the sale of U.S. Steel to Japan’s Nippon Steel, a move backed by both Republican and several Democratic Party lawmakers in Congress. Instead, Trump says he wants to impose tariffs to rebuild the United States’ domestic steel industry, making it more competitive in international markets. Vice President Kamala Harris had signaled more openness to allowing the foreign takeover of U.S. Steel should she have won the White House.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST!” President-elect Trump wrote in a post on Truth Social. He added: “As President, I will block this deal from happening. Buyer Beware!!!”


The sale of U.S. Steel to the Japanese-owned Nippon Steel is a critical issue for many Americans, especially those in the Rust Belt states of Pennsylvania and Ohio. During the 2024 presidential campaign, Trump, speaking with members of the Teamsters Union, promised he would “block it instantaneously.”

“We saved the steel industry. Now, U.S. Steel is being bought by Japan. So terrible,” he said.

On Capitol Hill, the opposition to the sale of U.S. Steel to Nippon Steel has become a bipartisan fight. Both of Pennsylvania’s Senators in the next Congress, John Fetterman (D-PA) and Dave McCormick (R-PA), have voiced their opposition to the takeover. Both will likely be key votes in backing Trump’s tariff and trade plans as well.

Image via Pexels.

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President-elect Donald J. Trump says he will block the sale of U.S. Steel to Japan's Nippon Steel, a move backed by both Republican and several Democratic Party lawmakers in Congress. Instead, Trump says he wants to impose tariffs to rebuild the United States' domestic steel industry, making it more competitive in international markets. Vice President Kamala Harris had signaled more openness to allowing the foreign takeover of U.S. Steel should she have won the White House. show more
November 25, 2024
William Upton
Economy

Trump’s First Term Tariffs Are Helping Decouple the U.S. from China.

The tariffs enacted during President-elect Donald J. Trump’s first term in office—and largely continued under Joe Biden—are already fueling the start of a decoupling between the United States and the People’s Republic of China. When Trump’s tariffs first took effect in 2018, China accounted for just over 21 percent of U.S. imports. However, by 2023, that number has plunged to just below 14 percent.

Meanwhile, Mexico and Canada have seen their share among U.S. imports grow—albeit modestly. Currently, Mexico accounts for just under 16 percent of U.S. imports, up from around 12 percent in 2014. Canada, which saw its share of imports collapse over the last decade, has slightly rebounded and accounts for just under 14 percent of U.S. imports—about on par with China.

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Even with the modest increase in Mexican imports to the U.S., the data suggests the American economy is increasingly becoming more self-sufficient and less reliant on cheap products produced by China. President-elect Trump has promised to enact a new round of tariffs against China as the latter has continued its aggressive currency manipulation.

China routinely deflates its currency to create trade imbalances and maintain a cheap manufacturing environment. This practice disadvantages domestic industry in the U.S. Additionally, the rivalry between the U.S. and China necessitates further decoupling—especially among critical technology sectors—to further American national security interests.

Screenshot

While Trump is pushing for new tariffs on a number of countries, those targeting China are far higher and more aggressive than those he intends to enact against countries in, for instance, the European Union. The latter is more an issue of trade leverage, with tariffs being a tool to push a ratcheting down of trade barriers.

Image by Gage Skidmore.

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The tariffs enacted during President-elect Donald J. Trump's first term in office—and largely continued under Joe Biden—are already fueling the start of a decoupling between the United States and the People's Republic of China. When Trump's tariffs first took effect in 2018, China accounted for just over 21 percent of U.S. imports. However, by 2023, that number has plunged to just below 14 percent. show more