Trump's Tariff Threat Sparks Debate on US Trade Policy

Politics News

Trump's Tariff Threat Sparks Debate on US Trade Policy
TARIFFSTRADE POLICYDONALD TRUMP
  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 28 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 50%

Former Trade Representative Katherine Tai weighs in on President-elect Trump's plan to impose tariffs, arguing that it would harm American businesses and lower-income workers. She contrasts Trump's approach with the Biden administration's focus on industrial policy and supply chain resilience.

As Trump threatens increased tariffs, economist Jim Standford argues this would negatively impact American businesses as much as it could hurt Canada's economy.President Joe Biden’s departing trade chief called President-elect Donald Trump ’s idea of using revenue from tariffs to replace income taxes “very, very dangerous,” saying it would hurt lower-earning workers.

Trump has cast his promise to impose sweeping tariffs partly as a way to bring in more revenue. On Tuesday he said he would create an “External Revenue Service” to collect them. The Biden administration kept in place most of the tariffs that Trump imposed during a trade war with Beijing in his first term and also increased duties on electric vehicles and semiconductors.

Tai said that the three of them share a recognition of distortions in global trade, and that she hopes the Trump administration will work with allies to address them.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BNNBloomberg /  🏆 83. in CA

TARIFFS TRADE POLICY DONALD TRUMP KATHERINE TAI US ECONOMY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Conservatives Push for Early Trade Hearings Amidst Trump Tariff ThreatConservatives Push for Early Trade Hearings Amidst Trump Tariff ThreatConservative Leader Pierre Poilievre calls for Parliament to hold hearings in January on Canada-U.S. trade, fearing the impact of President-elect Donald Trump's potential tariffs. The move comes after Chrystia Freeland's resignation as finance minister, who was key in negotiating trade deals with the U.S. and shaping Canada's response to Trump's threats.
Read more »

Conservatives Call for Trade Hearings Amid Trump Tariff ThreatConservatives Call for Trade Hearings Amid Trump Tariff ThreatThe Conservative Party of Canada is urging Parliament to hold hearings in January on Canada-U.S. trade before Donald Trump's inauguration as president. They aim to address potential tariffs and prepare for negotiations with the new administration. The call comes as businesses and experts seek a unified response to Trump's protectionist stance. The resignation of former Finance Minister Chrystia Freeland, who played a key role in negotiating the new North American free trade deal, adds another layer of complexity to the situation.
Read more »

Conservatives Demand Trade Hearings Amid Trump's Tariff ThreatConservatives Demand Trade Hearings Amid Trump's Tariff ThreatThe Conservative party is pressing for parliamentary hearings on Canada-U.S. trade in January, fearing President-elect Trump's potential tariffs. They cite Trump's history of protectionist policies and current threats against Canada.
Read more »

Conservative MPs Demand Probe into Canada-US Trade Deal Amidst Tariff ThreatConservative MPs Demand Probe into Canada-US Trade Deal Amidst Tariff ThreatConservative MPs are calling for a committee investigation into the Canadian government's handling of trade negotiations with the United States, particularly in light of a looming 25% tariff threat. The motion seeks to compel testimony from key ministers, officials, and the Canadian ambassador to the US, aiming to understand the government's strategy for averting the tariffs. Conservatives criticize the Liberal government's handling of the situation, citing the recent resignation of Chrystia Freeland and the potential economic fallout of the tariffs.
Read more »

Canada-U.S. Trade: Conservatives Push for Hearings Amid Tariff ThreatCanada-U.S. Trade: Conservatives Push for Hearings Amid Tariff ThreatConservative Party calls for parliamentary hearings on Canada-U.S. trade before Trump's inauguration, citing concerns over potential tariffs. Former finance minister Freeland's resignation adds to uncertainty.
Read more »

U.S. steel, plastics could be among Canada retaliatory tariff targetsU.S. steel, plastics could be among Canada retaliatory tariff targetsCanada likely to sell Trump’s tariff threat as a ‘tax on everyday Americans’
Read more »



Render Time: 2025-02-11 18:01:11