tariffs | KERA News

tariffs

Calsidy Rose

The Trump administration on Tuesday announced up to $12 billion in emergency aid for farmers impacted by the president’s trade war — which came as welcome relief for Texas farmers who were afraid the tariffs would hurt their business. But some Texas lawmakers have criticized the move and called on the president to end the tariffs.

When it comes to tariffs, the Texas economy has a lot at stake.

“Texas clearly is the No. 1 exporting state in America, so we really have ostensibly the most to lose,” said Jeff Moseley, president and CEO of the Texas Association of Business.

Moseley said he's worried about the potential effects of tit-for-tat tariffs from China.

Updated at 8:15 a.m. ET

As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

Updated at 9:14 a.m. ET

Mexico is putting tariffs on imports of U.S. steel and farm products — including pork, cheese, apples and potatoes — as it hits back at the U.S. for the Trump administration's tariffs on steel and aluminum products from Mexico, Canada and the European Union.

Signed by Mexican President Enrique Peña Nieto, the decree also suspends the country's preferential tariff treatment of the U.S. It was published in Mexico's official gazette on Tuesday.

From Texas Standard:

We’ve been hearing the word tariffs an awful lot recently, But the conversation about whether and how much started back in March when President Donald Trump announced new duties on steel and aluminum imports – at that time he granted exemptions to some major trading partners, including Canada, Mexico and the European Union, or EU. But late this week, the Trump administration said those countries will face steel and aluminum tariffs of up to 25 percent, in order to protect American national security interests.

Updated at 8:18 p.m. ET

The Trump administration's latest move to impose tariffs on steel and aluminum imports from the U.S.'s biggest strategic and trade partners has touched off a barrage of criticism and retaliation.

The Trump administration has decided to hold off on imposing most of its tariffs on imported steel and aluminum until at least June 1.

Tariffs were scheduled to take effect at 12:01 a.m. Tuesday on imports from Canada, the largest U.S. supplier of steel and aluminum, as well as Mexico, Argentina, Australia, Brazil and the EU.

A source familiar with the decision says the administration has reached an agreement in principle with Australia, Argentina and Brazil, which may avoid the need for tariffs against those countries altogether.

From Texas Standard.

Facing potential new tariffs with China, some Texas agricultural producers say they’re concerned about extra taxes on the products they ship to China. But the state’s Agriculture Commissioner Sid Miller says most Texas producers won’t be affected.

From Texas Standard.

In the middle of all of the hype surrounding South By Southwest, the European ambassador to the U.S. has landed in the Texas capitol city.

Ambassador David O’ Sullivan is representing the EU at SXSW’s Cities Summit.

Updated at 11:15 a.m. ET

Newly enacted U.S. tariffs on aluminum and steel imports have sparked a sharp reaction from around the globe, with several nations warning of an all-out trade war.

President Trump on Thursday made good on a promise to impose a 25 percent tariff on imported steel and a 10 percent tariff on aluminum imports. The levies are to go into effect in 15 days.

Updated at 4:47 p.m. ET

President Trump ordered steep tariffs on imported steel and aluminum from every country except Canada and Mexico. It's the boldest move to date for the president who campaigned on a protectionist platform that is sharply at odds with Republicans' free trade orthodoxy.