GET THE APP
Monday, June 30, 2025

Tag: trade
April 3, 2025
Economy
World

Rand Paul and Mitch McConnell Join Democrats to Legislate Against Trump’s Tariffs.

PULSE POINTS:

❓What Happened: The Senate approved a resolution to oppose President Donald J. Trump’s tariffs on Canadian imports, with the legislation aimed at repealing the emergency declaration permitting these trade levies.

👥 Who’s Involved: Senators Rand Paul (R-KY), Mitch McConnell (R-KY), Susan Collins (R-ME), and Lisa Murkowski (R-AK) joined with Senate Democrats to support the resolution, which is sponsored by Senator Tim Kaine (D-VA).

📍 Where & When: The Senate passed the measure on Wednesday following President Trump’s “Liberation Day” event at the White House Rose Garden, where he announced that substantial import duties would be imposed on foreign nations with high tariffs on U.S. exports.

💬 Key Quote: Senator Rand Paul stated, “Taxation without representation is tyranny,” characterizing tariffs as a form of taxation and arguing the Constitution forbids one person from enacting taxes.

⚠️ Impact: The resolution likely won’t advance in the GOP-controlled House.

IN FULL:

In a Senate session on Wednesday, a resolution challenging President Donald J. Trump’s tariffs on imports from Canada was advanced to the House of Representatives, with Senators approving the bill in a 51-48 vote. Introduced by Hillary Clinton’s former running mate, Senator Tim Kaine, the measure seeks to revoke the emergency declaration that sanctioned these tariffs by citing the influx of fentanyl across the border. This vote saw four Republican defections, with Sens. Rand Paul, Mitch McConnell, Susan Collins, and Lisa Murkowski joining the Democrat minority to pass the measure.

The resolution’s passage is arguably a symbolic win for Senate Democrats who have worked to derail President Trump’s America First trade agenda. However, while Democrats in the Senate were able to peel off just enough Republican votes to pass the anti-tariff resolution, it is unlikely to advance in the House, where Republican leaders will likely move to kill it before it can move to the floor for a vote.

“[W]e are here before the Senate because one person in our country wishes to raise taxes,” Sen. Paul argued in support of the Democratic resolution on the Senate floor late last night. “Well, this is contrary to everything our country was founded upon. One person is not allowed to raise taxes. The Constitution forbids it.”

“This is a tax, plain and simple,” he reiterated, adding: “Taxation without representation is tyranny.”

While tariffs can technically be categorized as a form of taxation, the import duties are not borne by American consumers for the most part. Instead, foreign companies impacted by tariffs will often absorb a significant portion of the import duty to preserve their market position—essentially opting to take a short-term revenue loss to ensure they maintain their consumer base for the long term.

It is also highly questionable to suggest that there is a lack of “representation” when an elected President with a mandate from the American people raises tariffs.

The Senate’s passage of the anti-tariff resolution came just hours after President Trump announced a 10 percent blanket tariff on all foreign imports and imposed additional, more targeted trade levies on a number of countries that have high tariffs on U.S. goods.

show less

PULSE POINTS:

show more
April 2, 2025
William Upton
Breaking
Economy

BREAKING: Trump Announces ‘Liberation Day’ Tariffs on Foreign Goods.

President Donald J. Trump has announced a series of new tariff rates at his administration’s “Liberation Day” event at the White House Rose Garden, including the imposition of a 10 percent across-the-board tariff on all foreign imports. In addition to the 10 percent blanket tariff, Trump is set to impose a series of targeted trade levies on imports from 60 nations—with the tariff rate often being set at half that which the targeted country places on American exports as an act of generosity.

“My fellow Americans, this is Liberation Day. April 2nd, 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to Make America Wealthy Again,” Trump said. “For decades, our country has been looted, pillaged, raped, and plundered by nations near and far, both friend and foe alike. American steelworkers, autoworkers, farmers, and skilled craftsmen—we have a lot of them here today—they really suffered gravely; they watched in anguish as foreign leaders have stolen our jobs; foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream.”

The America First leader went on to note: “We’re also standing up for our great farmers and ranchers who are brutalized by nations all over the world. Canada imposes a 250-300 percent tariff on many of our dairy products.”

Among the countries and regions facing additional tariffs above the 10 percent blanket rate are China, Vietnam, Taiwan, Japan, India, the European Union, South Africa, and South Korea. Notably, Chinese imports will be hit with a tariff rate of 34 percent and Indian goods will be tariffed at 26 percent.

Notably, Brexit has spared the United Kingdom, which faces only the base rate of 10 percent, from the 20 percent tariff imposed on the European Union.

Jack Montgomery contributed to this report.

show less
President Donald J. Trump has announced a series of new tariff rates at his administration's "Liberation Day" event at the White House Rose Garden, including the imposition of a 10 percent across-the-board tariff on all foreign imports. In addition to the 10 percent blanket tariff, Trump is set to impose a series of targeted trade levies on imports from 60 nations—with the tariff rate often being set at half that which the targeted country places on American exports as an act of generosity. show more
April 2, 2025
Economy

Tariffs Boosted Economy in Trump’s First Term.

PULSE POINTS:

❓What Happened: President Donald J. Trump has announced new tariffs aimed at promoting fair trade and supporting American workers and businesses. Research shows tariffs boosted the economy in his first term.

👥 Who’s Involved: President Donald Trump, U.S. International Trade Commission, Economic Policy Institute, U.S. steel producers, American consumers.

📍 Where & When: United States, pledge made on the 2024 campaign trail and following President Trump’s inauguration.

💬 Key Quote: “Following implementation of Sec. 232 measures in 2018—and prior to the global downturn in 2020—U.S. steel output, employment, capital investment, and financial performance all improved,” the Economic Policy Institute reports.

⚠️ Impact: The tariffs resulted in reduced imports, increased domestic production, job creation, and investments in new or upgraded steel facilities.

IN FULL:

For the first time in several decades, the U.S. is poised to redefine its trade dynamics as President Donald J. Trump introduces tariffs aimed at equalizing trade conditions for American industries and American workers. This strategic move, reminiscent of actions taken during his first administration, aims to bolster economic growth.

Research conducted on the impact of tariffs from President Trump’s first term suggests that these measures fortified the U.S. economy. A 2024 study highlighted that tariffs resulted in significant reshoring in sectors such as manufacturing and steelmaking, while a 2023 U.S. International Trade Commission report revealed that tariffs curtailed imports from China and promoted local production.

The report indicated minor downstream price effects, aligning with findings by the Economic Policy Institute, which emphasized that the tariffs did not exacerbate inflation and had a negligible impact on prices overall.

“Following implementation of Sec. 232 measures in 2018—and prior to the global downturn in 2020—U.S. steel output, employment, capital investment, and financial performance all improved,” the Economic Policy Institute stated. This period saw U.S. steel producers commit over $15.7 billion to new or upgraded facilities, generating approximately 3,200 jobs.

A further analysis conducted by the Atlantic Council points to a potential increase in domestic product purchases prompted by tariffs. The Treasury Secretary under the Biden regime, Janet Yellen, supported this stance, stating that consumer prices would not significantly rise as a result of tariffs.

A separate 2024 economic analysis projected that a global 10 percent tariff could stimulate $728 billion in economic growth, create 2.8 million jobs, and lift real household incomes by 5.7 percent.

During President Trump’s first term, tariffs bolstered the iron ore industry in Minnesota, supported thousands of new jobs, led to investments exceeding $10 billion, and decreased steel and aluminum imports by nearly one-third from 2016 to 2020.

show less

PULSE POINTS:

show more
March 27, 2025
Politics

Canada’s New PM Declares Era of Close US Ties ‘Over.’

IN BRIEF:

❓What Happened: Prime Minister Mark Carney declared that Canada and the United States’ era of extensive economic, security, and military ties has ended.

👥 Who’s Involved: Canadian Prime Minister Mark Carney and U.S. President Donald Trump.

📍 Where & When: Ottawa, Thursday.

💬 Key Quote: Carney stated, “The old relationship we had with the United States based on deepening integration of our economies and tight security and military cooperation is over.”

⚠️ Impact: The announcement comes following Trump’s decision to impose significant tariffs on autos, affecting trade dynamics and prompting diplomatic communications between Canada and the United States.

IN FULL:

Canadian Prime Minister Mark Carney announced Thursday that the longstanding era of close economic, security, and military ties between Canada and the United States has effectively ended. This statement followed U.S. President Donald J. Trump‘s recent introduction of substantial tariffs on imported automobiles, a move likely to impact the trading relationship between the two nations.

Carney, speaking in the capital, made clear that the historically tight relationship characterized by intertwined economic policies and cooperative security measures is no longer in place. He noted, “The old relationship we had with the United States based on deepening integration of our economies and tight security and military cooperation is over.” This admission marks a pivot in diplomatic relations that have traditionally been considered robust and stable.

The Canadian leader mentioned that a call is expected between Ottawa and the White House following a recent outreach from U.S. officials. Carney anticipates this discussion with President Trump will occur within the next few days, amid rising trade tensions stemming from the newly imposed tariffs. These tariffs have not only economic implications but also symbolize a shift in how international relationships are navigated under current U.S. policy frameworks.

The automotive tariffs, announced by Trump, signal increasing protectionist measures by the U.S., which affects Canada significantly due to its deep integration in the North American auto industry. However, U.S. autoworkers, including the powerful United Auto Workers labor union have praised Trump’s tariff plans.


Carney did not specify what future actions Canada would contemplate in response to these developments, but his comments suggest Canada is preparing to adapt to a new phase in U.S.-Canada relations. Earlier this month, Canadian provincial leader Doug Ford dropped a plan to increase the cost of electricity exported to the U.S. after President Trump threatened to further increase tariff rates on Canadian steel and aluminum.

show less

IN BRIEF:

show more
March 20, 2025
Economy
World

Europe Postpones Tariffs on U.S. Whiskey and Other Goods, Fearing Trade War With Trump.

The European Union (EU) says it will now delay implementing tariffs against the United States, originally planned to begin at the end of March, until mid-April. While European officials claim the delay is to give more time to refine the list of U.S. products subject to the tariffs, it is widely seen as allowing more time for negotiations with U.S. President Donald J. Trump‘s White House.

Olof Gill, a spokesman for the European Commission, confirmed the delay on Thursday. “This provides additional time for discussions with the U.S. administration,” he stated.

The National Pulse previously reported that the EU announced tariffs targeting U.S. goods such as bourbon, jeans, and motorcycles—appearing designed to harm globally popular American brands—in response to Trump’s global tariffs on steel and aluminum. Following the announcement, President Trump responded, stating the U.S. would consider a 200 percent tariff on certain EU products like French wine.

Trump’s threat to impose crippling tariffs on wine and other alcohol products has caused several European national leaders to push against the EU’s retaliatory trade measures. Notably, Italy’s Prime Minister Giorgia Meloni cautioned against entering a “vicious circle” of trade measures. Meanwhile, France’s Prime Minister François Bayrou warned that Europe risks targeting inappropriate sectors.

EU Trade Commissioner Maros Sefcovic acknowledged on Thursday that negotiations will likely remain stalled until April 2, when President Trump’s wider reciprocal tariff policy takes effect. The admission suggests that the EU’s delay is less about refining the list of American goods to be tariffed and more with internal pressure from European leaders who fear the repercussions a trade war with the United States would have on their national economies.

show less
The European Union (EU) says it will now delay implementing tariffs against the United States, originally planned to begin at the end of March, until mid-April. While European officials claim the delay is to give more time to refine the list of U.S. products subject to the tariffs, it is widely seen as allowing more time for negotiations with U.S. President Donald J. Trump's White House. show more
March 13, 2025
Economy

Trump Halted Producer Inflation and Reduced Core Prices Drop in First Month.

Trade tariffs imposed by President Donald J. Trump have not caused a rise in inflation, despite claims in the corporate media that foreign import levies would drive up production costs for American manufacturers and prices for consumers. In February, the core producer price index (PPI) for final demand in the U.S. decreased by 0.1 percent, signaling a decline in prices for goods and services, excluding food and energy.

The broader PPI remained unchanged during the same period, showing no inflation overall for the month. Economists had predicted a 0.3 percent increase in the broad PPI and a 0.5 percent rise in core prices. However, these projections were not met, with the data indicating price stability and a reduction in core prices instead.

Notably, the PPI measures prices that U.S. businesses receive for goods, services, and construction, although it excludes export prices and sales taxes. It offers a different perspective from the consumer price index (CPI), which reflects prices paid by U.S. consumers and includes sales taxes but excludes those paid by businesses and government entities. February’s CPI and core consumer prices both increased by 0.2 percent—showing minimal change in inflation.

While the PPI and core PPI remain up 3.2 and 3.4 percent, respectively, from a year ago—signaling that inflationary pressures continue to linger—this is mostly attributable to a lag effect from the high rate of inflation experienced under former President Joe Biden.

Additionally, goods prices rose by only 0.3 percent in February compared to January’s higher rate, while services prices fell by 0.2 percent.

Image by Gage Skidmore.

show less
Trade tariffs imposed by President Donald J. Trump have not caused a rise in inflation, despite claims in the corporate media that foreign import levies would drive up production costs for American manufacturers and prices for consumers. In February, the core producer price index (PPI) for final demand in the U.S. decreased by 0.1 percent, signaling a decline in prices for goods and services, excluding food and energy. show more
March 4, 2025
Christopher Tomlinson
Economy
World

Canadian PM Claims Trump Is ‘Appeasing’ Putin, Says U.S. President Being ‘Dumb.’

Canada’s woke prime minister and sometime blackface enthusiast Justin Trudeau has accused President Donald J. Trump of being “dumb” by enforcing tariffs and allegedly “appeasing” Russian President Vladimir Putin. Trudeau announced that Canada would retaliate to the 25 percent tariffs on Canadian goods with its own 25 percent tariffs on $30 billion worth of American products. After 21 days, the tariffs will be expanded to cover another $125 billion worth of goods.

“The United States launched a trade war against Canada, their closest partner, and ally, the closest friend,” Trudeau said at a press conference. “At the same time, they’re talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense,” he whined.

President Trump enacted the tariffs against both Canada and Mexico for a variety of reasons, including the trafficking of illegal migrants and the deadly drug fentanyl across both borders into the United States.

The America First leader has been consistent on his desire to end the war between Russia and Ukraine, attempting to work with Ukrianian President Volodymyr Zelensky on a rare earth minerasl deal to give the U.S. an ongoing stake in Ukraine’s security. The Trump administration has also been in negotiations with Russia to end the conflict.

Trudeau announced his resignation earlier this year, and will likely remain in office for only a matter of weeks. In the U.S., he is best known for his crackdown on the Freedom Convoy protests during the COVID-19 pandemic, in which he used war-time emergency powers against peaceful protestors.

Following the Canadian leader’s outburst, President Trump warned “Governor” Trudeau that more tariffs could be incoming.

WATCH:

show less
Canada's woke prime minister and sometime blackface enthusiast Justin Trudeau has accused President Donald J. Trump of being "dumb" by enforcing tariffs and allegedly "appeasing" Russian President Vladimir Putin. Trudeau announced that Canada would retaliate to the 25 percent tariffs on Canadian goods with its own 25 percent tariffs on $30 billion worth of American products. After 21 days, the tariffs will be expanded to cover another $125 billion worth of goods. show more
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.

show less
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.

show less
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.

show less
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