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All posts tagged "Tariff"

Historian breathes sigh of relief over Trump's crippling blow: 'James Madison is smiling'

Historian breathes sigh of relief over Trump's crippling blow: 'James Madison is smiling'

A historian Friday described the historic impact of the Supreme Court's decision in its ruling against President Donald Trump's tariffs — something the nation's founders would have appreciated.

Tim Naftali, CNN's presidential historian and former head of the Nixon Presidential Library, explained why the high court's ruling was an active practice of what the Constitution was intended to do.

"Well, wherever he is, James Madison is smiling today. Tariffs are a tax. The founders decided that taxes should be the responsibility of the Article One branch, which is Congress," Naftali said. ...

'Trump became enraged' and used expletives after news of Supreme Court smackdown: report

'Trump became enraged' and used expletives after news of Supreme Court smackdown: report

President Donald Trump was reportedly infuriated Friday after the Supreme Court ruled that his tariffs were illegal.

Trump was hosting the National Governor's Association breakfast with a room full of the nation's governors at the White House when he found out about the high court's decision to strike down Trump's tariffs in a 6-3 vote.

"Apparently the gov breakfast had been going well, they were working together, and then President Trump became enraged. He started ranting about the decision, not only calling it a disgrace, but started attacking the courts at one point saying, these 'f------ courts,'" said CNN senior White House correspondent Kristen Holmes. ...

What will be the repercussions of Biden's new China tariffs?

What will be the repercussions of Biden's new China tariffs?

Washington (AFP) - US President Joe Biden unveiled steep tariff hikes on Chinese green tech this week, hitting imports like electric vehicles, chips and solar cells -- and adding stress to US-China ties. But despite targeting $18 billion in imports across new and already targeted sectors, analysts do not expect a major economic impact, assuming Beijing does not retaliate significantly. So what will be the repercussions of his moves? Will this hit the US economy?Biden's EV, semiconductor and battery tariffs "will not have a noticeable impact on US inflation or GDP," said economist Ryan Sweet at......
Biden or Trump, hawkish economic approach on China to intensify

Biden or Trump, hawkish economic approach on China to intensify

Washington (AFP) - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards China has become more targeted under President Joe Biden -- though still hardline. Despite differences between Democrats and Republicans, analysts expect Washington's approach to Beijing will only become tougher, whether Biden or former president Donald Trump wins another White House term. "I think the direction of pressure in Washington is absolutely in one direction, which is more hawkishness," said Joshua Meltzer, senior fellow at Brookings Institution. ......