A spokesman for SolarWorld, one of two manufacturers that requested protection from imports at the International Trade Commission, said that after the ITC decided in its favor in September, the company began to hire what will be 200 U.S.-based workers by the end of 2018. Weeks before the tariff was announced, an unidentified foreign company reportedly reached out to city officials in Jacksonville, Florida, with plans to build a solar-module assembly plant that would employ 800 to 1,000 workers. … [Read more...] about Trump says solar tariff will create ‘a lot of jobs.’ But it could wipe out many more.
Second, because the tariff-levying country is large, it drives down the export price of the good in question. So the pre-tariff price at which Ghana can export cocoa to the Netherlands declines, Ghanaian growers and producers make less money, and the country's economy is hurt. Economists call this a "terms of trade gain" for the country imposing the tariff. Such a tariff ensures that the price of cocoa in the Netherlands does not rise by the entire amount of the tariff. … [Read more...] about An economist explains what tariffs actually are, and how they affect domestic and global economies
— Tariffs menace manufacturing. NYT's Natalie Kitroeff and Ben Casselman: "The administration did not place tariffs on necessities like shoes and clothes, and mostly spared smartphones from the 25 percent levy on Chinese goods announced this week. But by shielding consumers, Mr. Trump has put American manufacturers — a group he has championed — in the cross hairs of a potential global trade war. If the measures stand, along with China’s retaliatory tariffs, they could snuff out a manufacturing recovery just beginning to gain steam. 'If you want to spare the consumer so you don’t get this massive backlash against your tariffs, then there goes manufacturing, because that’s what’s left,' said Monica de Bolle, an economist at the Peterson Institute for International Economics. 'The irony is, you cannot spare manufacturing from anything because manufacturing is globally integrated. The sector sources its parts and components from all over … [Read more...] about The Finance 202: Trump tariffs aren’t going to impede economic growth (yet)
If the EU is subject to tariffs on the 6.4 billion euros ($7.7 billion) of the metals it exports annually to the United States, it has said it will set its own duties on 2.8 billion euros of U.S. exports of products ranging from makeup to motorcycles. … [Read more...] about Trump Postpones Steel, Aluminum Tariffs Until June
Political strategist James Harris said "change takes time" and the president's saber rattling will worry people at first, but he thought candidates should tell voters to be patient "to see how the president can improve trade deals." The reality, he said, is that the U.S. is the world's largest economy and people want U.S.-manufactured goods. … [Read more...] about ‘In a trade war, everyone loses.’ What Trump’s tariffs mean for Missouri