Trump Tariff will Kill the Economy

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Tariffs are why we rebelled against the British

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Nike to increase prices on footwear, apparel amid tariffs, per CNBC.
Do you wear Nike?

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The worst impacts of President Donald Trump’s tariffs could hit just in time for back-to-school shopping. Read more here: https://www.wrbl.com/news/national/t...ok_WRBL_News_3

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What project Honda was about to implement?


Honda had put forward an all-encompassing plan in April 2024 which included building an EV supply chain in Ontario. This was set to include an EV battery plant, a vehicle assembly facility retrofitting, and two battery component manufacturing plants.

The collective initiatives were anticipated to yield up to 240,000 vehicles annually by 2028, and over 1,000 new jobs alongside retaining 4,200 jobs at Honda’s Alliston manufacturing plant.


All delayed because of Trump
Putting us behind China

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[SalesServiceGuy]

Federal trade court strikes down Trump’s reciprocal tariffs

• A federal trade court struck down President Donald Trump’s worldwide reciprocal tariffs and ordered the administration to stop collecting them.
• A three-judge panel on the Court of International Trade said Trump exceeded “any authority granted” by the International Emergency Economic Powers Act in imposing the import levies.
• In halting tariffs Trump ordered on Canada, Mexico and China to combat drug trafficking, the judges said they “fail because they do not deal with the threats set forth in those orders.”
• The government immediately appealed the ruling to the U.S. Court of Appeals for the Federal Circuit.

The U.S. Court of International Trade on Wednesday blocked steep reciprocal tariffs unilaterally imposed by President Donald Trump on scores of countries in April to correct what he said were persistent trade imbalances.

The ruling deals a potentially serious blow to the Republican president’s economic agenda and ongoing efforts to negotiate trade deals with various nations.

Dow futures jumped 500 points on news of the ruling, which the Trump administration immediately appealed to the U.S. Court of Appeals for the Federal Circuit.

The Supreme Court could end up having the last say in the case.

In its ruling, a three-judge panel on the Court of International Trade said that the International Emergency Economic Powers Act, which Trump invoked to impose the tariffs, does not authorize a president to levy universal duties on imports.

“The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the judges wrote.

And separate, specific tariffs on Canada, Mexico and China related to drug trafficking “fail because they do not deal with the threats set forth in those orders,” the panel wrote.

Implementing tariffs typically requires congressional approval.

But Trump chose to bypass Congress by declaring a national economic emergency under IEEPA, which became law in 1977, and then using the purported emergency as justification for cutting Congress out of the process.

The panel not only ordered a permanent halt to the tariffs at issue in the case, but it also barred any future modifications to them.

The Trump administration was given 10 days to make the necessary changes to carry out the judges’ orders.

Several existing tariffs on specific products like aluminum and steel are not impacted by Wednesday’s ruling, because the president did not invoke IEEPA powers to justify their necessity.

White House spokesperson Kush Desai, in a statement on the ruling, said, “Foreign countries’ nonreciprocal treatment of the United States has fueled America’s historic and persistent trade deficits.”

“These deficits have created a national emergency that has decimated American communities, left our workers behind, and weakened our defense industrial base – facts that the court did not dispute.”

“It is not for unelected judges to decide how to properly address a national emergency,” Desai added.

[SalesServiceGuy]

Hit by Trump trade wars, U.S. economy falls 0.2% in first quarter, an upgrade from initial estimate


The U.S. economy shrank at a 0.2 per cent annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate.

First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes.

The January-March drop in gross domestic product — the nation’s output of goods and services — reversed a 2.4 per cent gain in the fourth quarter of 2024. Imports grew at a 42.6 per cent pace, fastest since third-quarter 2020, and shaved more than 5 percentage points off GDP growth. Consumer spending also slowed sharply.

rade deficits reduce GDP. But that’s mainly a matter of mathematics. GDP is supposed to count only what’s produced domestically. So imports — which the government counts as consumer spending in the GDP report when you buy, say, Costa Rican coffee — have to be subtracted out to keep them from artificially inflating domestic production.

The first-quarter import surge likely won’t be repeated in the April-June quarter and therefore shouldn’t weigh on GDP.

Thursday’s report was the second of three Commerce Department estimates of first-quarter GDP. The final version comes out June 26.

[SalesServiceGuy]

Trump could ask Supreme Court to halt tariff block as soon as Friday

• The Trump administration said it may ask the U.S. Supreme Court as soon as Friday to immediately pause a ruling blocking many of President Donald Trump’s tariffs.
• Trump’s aides are lashing out at the federal trade-court judges who just struck down many of the president’s tariffs.
• The Trump administration asked the court to pause enforcement of their ruling while the case is on appeal.
• The order blocks tariffs that Trump invoked using the International Emergency Economic Powers Act.
• Even if the ruling stands, Trump may have other ways of imposing import taxes without approval from Congress.

The Trump administration said it may ask the U.S. Supreme Court as soon as Friday to immediately pause a federal court ruling blocking many of President Donald Trump’s tariffs.

The U.S. will seek the “emergency relief” from the nation’s highest court “to avoid the irreparable national-security and economic harms at stake,” it said in a filing in the U.S. Court of Appeals for the Federal Circuit on Thursday morning.

But the government said it will only take that step if the federal appeals court does not quickly issue at least a temporary pause of the tariff ruling.

The comment came as Trump’s top aides are lashing out at the three judges on the U.S. Court of International Trade who struck down his “reciprocal” tariffs on Wednesday night, dealing a major blow to his trade agenda.

At the same time — and as it seeks relief from the higher courts — the Trump administration is asking that the trade-court judges pause any enforcement of their ruling while the case is being appealed.

“We are living under a judicial tyranny,” White House deputy chief of staff Stephen Miller wrote on Thursday in response to the ruling, escalating his initial claim that “the judicial coup is out of control.”

Top trade advisor Peter Navarro accused the court of being “globalist” and “pro-importer” on Bloomberg TV Thursday, and claimed it was biased against the administration’s tariff policies.

“We have these unelected judges who are trying to force their own will when it comes to tax policy, trade policy and all matters of the economy,” Trump advisor Jason Miller said during a Fox Business interview Thursday morning.

Those three judges — Jane Restani, Timothy Reif and Gary Katzmann — were appointed to the federal bench by two Republicans, Presidents Ronald Reagan and Trump, and one Democrat, Barack Obama, respectively.

Their ruling Wednesday invalidated dozens of country-specific tariffs that Trump imposed earlier this year under the purported authority of the International Emergency Economic Powers Act.

The judges found that the law does not “confer such unbounded authority” to presidents.

The nationwide, permanent block they imposed covers all of the retaliatory tariffs that Trump issued in early April as part of his sweeping “liberation day” plan to reshape international trade with the rest of the world.

The ruling also bars the administration from making any future modifications to the tariffs in question. The court gave the administration 10 days to make the necessary changes to carry out the orders.

The Trump administration filed a notice of appeal shortly after the judgment came down.

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As the TACO trade goes viral, another is gaining traction: ‘Anywhere But The USA’

Congratulations on killing manufacturing in the USA

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William Hauk, a professor of economics at the University of South Carolina who studies international trade, told ABC News that the new tariff level could raise the price of a car by $2,000 to $4,000.

[BBM]

William Hauk, a professor of economics at the University of South Carolina who studies international trade, told ABC News that the new tariff level could raise the price of a car by $2,000 to $4,000.

The guy i buy sandwiches at the sub shop says maybe up to $10,000

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Bicycle shops already hit by steel and aluminum tariffs Some prices up 10-to-30% in recent days

[Mako]

Bicycle shops already hit by steel and aluminum tariffs Some prices up 10-to-30% in recent days

Buy American and avoid the tariffs.

https://thebestbikelock.com/bike-brands/bikes-made-in-usa/