After about a week of conflicting signals, the new Trump administration announced that the long-threatened 25 percent tariffs on imports from Canada and Mexico would take effect on Saturday, the first salvo of what is expected to be a trade war between the allies. [Read: Trump Will Hit Mexico, Canada and China With Tariffs] When … Read more
When Dennis Nixon started working at a regional bank in Laredo, Texas, in 1975, there was just a trickle of trade across the border with Mexico. Now, nearly a billion dollars of commerce and more than 15,000 trucks roll over the line every day just a quarter mile from his office, binding the economies of … Read more
The Trump administration plans to move forward with imposing stiff tariffs on Mexico, Canada and China on Saturday, in an attempt to further pressure America’s largest trading partners to accept deportees and stop the flow of migrants and drugs into the country. In a press briefing Friday, White House press secretary Karoline Leavitt said the … Read more
Companies in the United States do not appear to be making a concerted effort to rush in shipments from Mexico and Canada ahead of the high tariffs that President Trump has threatened to impose on Saturday. Mr. Trump said after taking office that the United States would apply tariffs of 25 percent on imports from … Read more
Oil and gas companies in the United States are bracing for the possibility that President Trump will thrust their businesses into disarray and will drive up prices at the pump by imposing 25 percent tariffs on goods from Canada and Mexico. The United States is the world’s largest oil producer, but the country’s refineries are … Read more
Mexico’s pitch to companies considering the American market was simple. Worried about vulnerable supply chains? Need to reduce your reliance on China? Want an inexpensive spot close to the United States with favorable trade rules? Try Mexico. Thousands of companies, from family enterprises to powerhouse brands, in Asia, Europe and elsewhere have done just that … Read more
China is the world’s factory floor. From high-end digital devices to inexpensive tchotchkes, many of the products that are bought and sold in the United States are made in China. President Trump has announced plans to impose additional tariffs on Chinese-made goods imported to the United States. Trade tensions between the world’s two largest economies … Read more
Three military-ruled countries have officially withdrawn from the West African regional alliance known as ECOWAS, the bloc said on Wednesday, defying pressure from the group to return the countries to civilian democratic rule. The alliance, the Economic Community of West African States, offers its members visa-free travel, favorable trade tariffs and access to a $702 … Read more
General Motors executives are closely tracking President Trump’s plans to impose tariffs on imports from Canada and Mexico, but the company is not yet making any major changes to its strategy in North America in response to the threatened tariffs. The automaker has pulled together an “extensive playbook” of possible options but won’t put them … Read more
The Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new administration’s top economic official who will steer an agenda that is focused on tax cuts, tariffs and deregulation. Mr. Bessent, a billionaire hedge fund manager with deep experience in financial markets, is … Read more