“President Donald Trump announced Wednesday that he will impose a baseline 10 percent tariff on imports from all countries in the coming days, with a higher tariff on dozens of other countries the United States believes have the most unfair trade relationships with the U.S.”
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“The tariffs that Trump detailed Wednesday mark the most significant U.S. protectionist trade action since the 1930s, when Congress imposed tariffs on more than 20,000 goods and dug the U.S. economy deeper into the Great Depression.”
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“The new duties include a 34 percent tariff on China, 26 percent on India, 25 percent on South Korea, 24 percent on Japan and 20 percent on the 27-nation European Union, whose largest members are Germany and France.
The administration also slapped a 46 percent tariff on Vietnam and a 49 percent tariff on Cambodia — a blow to China, which has shipped goods through those and other countries to effectively skirt previous rounds of U.S. tariffs imposed over the past seven years.
That comes on top of a second executive order Trump signed Wednesday eliminating the “de minimis loophole” for small-dollar packages worth under $800 from China and Taiwan, starting on May 2. The loophole has been used by Chinese companies like SHEIN and Temu to deliver billions in goods to the U.S.”
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“economists warn that the tariffs are almost certain to drive up prices for everyday goods imported from abroad — from fruits, vegetables and other food products to clothing, toys, cell phones, laptops, sporting equipment and countless other consumer products. The tariffs also will hit machinery and other manufactured goods, along with the raw materials and parts used to make things like cars and build houses in the United States.”
“Prime Minister Mark Carney said Canada will impose “carefully calibrated and targeted counter tariffs” on the United States in response to President Donald Trump’s “Liberation Day” tariffs.
Carney said Canada will counter with 25 percent tariffs on all vehicles imported from the United States that are not compliant with the United States-Mexico-Canada Agreement and on the non-Canadian content of USMCA-compliant vehicles from the United States.
But Carney said that unlike Trump’s tariffs, Canada’s countermeasures will not affect auto parts “because we know the benefits of our integrated production system.” All other previously announced Canadian countermeasures to Trump’s previous threats will remain, Carney said.
Carney said Trump’s global reciprocal tariffs have ended 80 years of American global economic leadership that started after World War II.”
“President Donald Trump’s sweeping tariff regime will completely transform America’s economic relationship with the rest of the world, all in the name of revitalizing domestic manufacturing.
And yet, many businesses won’t be rushing to shift their supply chains to U.S. shores.
For all the detail in Trump’s Wednesday announcement, his endgame is still shrouded in confusion. That’s lethal for long-term investment, making confident planning all but impossible.”
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“I’ve asked multiple corporate executives in recent weeks whether companies are likely to start investing in manufacturing in the United States in response to Trump’s policies, and the message has basically been: That’s an unanswerable question right now. Because making those decisions requires understanding the relative costs of doing it versus not doing it, and Trump is far too unpredictable to allow for that kind of calculation.”
“On March 15, the Trump administration loaded more than 200 men onto three planes bound for El Salvador, where they were to be locked in its notorious CECOT prison. A video of the men being marched, head-down, into police vehicles and into the facility ricocheted around the world, a symbol of the United States’ position on immigrants it accuses of having gang ties.
But not seen by the camera were eight women who were also on the planes but never got off. Shortly after they landed, according to court filings, El Salvador apparently refused to take them. So they were shipped back, to be locked up again on American soil.
Now, for the first time, two of those women are speaking out in an interview with NBC News, describing the chaos they say they witnessed during the Trump administration’s deportation efforts and how, they allege, Immigration and Customs Enforcement officials deceived them about where they were being taken.
“We were lied to,” said one of the women, Heymar Padilla Moyetones, 24. “They told us we were going to Venezuela, and it turns out that, no. When we arrived at our destination, that’s when they told us we were in El Salvador.”
Trump administration officials have said all of the people it has sent to El Salvador were Venezuelans who were carefully vetted and had clear ties to Tren de Aragua, a gang from Venezuela that the administration has designated a terrorist organization.
But the vetting process apparently did not include determining whether El Salvador would accept female detainees.
Moyetones said ICE officials kept her on the aircraft. “They didn’t let us leave. They told us that we were going back, that we were coming back here,” she said.”
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““I came with a lot of dreams,” Moyetones said. Since she was a child, she said, the United States had been the country where she wanted “to make a life.” She ultimately came about a year ago, with her son, then an infant, to give him a better future.
“We thought that perhaps the treatment from people in this country would be different toward us,” she said, but after what happened with the flights, she is sad and disappointed with the United States and just wants to be deported back to her home country, Venezuela. But her son, now 2 years old, is in the care of a relative, and she does not know whether they will be reunited. “I am very afraid, because I have always been with my son,” she said. “I have always looked after my son, but I don’t know. I wouldn’t know what to tell you.””
“Although the United States has the power to seriously disrupt economic life in other countries, the book argues, the consequences don’t always serve American interests. Sanctions hurt the prosperity and political standing of Iran’s pro-American middle class the most. They also make the government more paranoid and remove important incentives to play nice. Everyone seems worse off.
The U.S. has tried to wash its hands of the policy’s consequences for ordinary Iranians, blaming their poverty on domestic “corruption and economic mismanagement” rather than on sanctions. But the data are clear. The Iranian economy was booming from 1988, the end of the country’s war with Iraq, to 2011, the beginning of former President Barack Obama’s intensified sanctions campaign.
Obama’s innovation was secondary sanctions. As the flow of direct American-Iranian trade shrunk, the U.S. Treasury’s Office of Foreign Assets Control punished companies in other countries that dealt with Iran. The Iranian economy became more or less radioactive, as any bank in the world that handled Iranian money and any shipping company that handled Iranian oil risked the wrath of the U.S. government.
Then Obama made a deal, lifting the sanctions in 2015 in exchange for restrictions on Iran’s nuclear program. Trade resumed and foreign investment flowed back in—until Trump reimposed sanctions in 2018. (Despite Trump’s claims to the contrary, former President Joe Biden continued to enforce the same sanctions.) Iran has since come closer to building a nuclear bomb, and it has had more confrontations with the U.S. military.”
“U.S. manufacturing output, even adjusted for inflation, is near all-time highs. While about 5 percent below its December 2007 peak, it’s up 177 percent compared with 1975, the year America last ran an annual trade surplus. Industrial production—manufacturing, mining, and utilities combined—is higher than ever. That’s hardly a collapse.
A principal source of confusion is the difference between jobs and output. Yes, the number of workers in manufacturing has declined dramatically—from around 19 million in 1980 to about 13 million today. But that didn’t happen because America stopped making things. It happened because we got incredibly good at making things.
Productivity in manufacturing has surged thanks to automation, technology, and global supply chains. Just as we now produce more food than ever with just over 1 percent of Americans working in agriculture (down from around 75 percent in 1800), we produce more manufactured goods with far fewer workers. That’s not economic decline; it’s progress.
Also fueling the perception of decline are regional factors. Shuttered factories in Detroit or Youngstown, Ohio, bring concentrated pain and struggle for affected workers. No one denies this. But manufacturing didn’t disappear; it relocated and upgraded.”