President Donald Trump’s threatened 5% tariff on all Mexican imports could hit American farmers especially hard if Mexico
retaliates with punitive duties on U.S. agricultural products. Farmers
are already reeling from Trump’s drawn out trade war with China and fear
further losses could be in their futures.
Archives
Jobs Report Is Weak, With Gain of 75,000; Unemployment Rate Still 3.6%
The latest report was a disappointing
showing that will stoke fears the economy is softening as the Trump
administration’s trade war with China and potentially Mexico escalates. The
Federal Reserve has signaled that it would consider a rate cut in the
event of economic weakness, and May’s data is likely to be an important
factor in their decisions.
Trump's Mexico tariffs: Republican lawmakers alarmed as president issues 5 percent levy on Mexican imports
President Trump forged ahead Friday with plans to impose import
penalties on Mexico, one of the United States’ largest trading partners,
brushing aside apoplectic lawmakers, business groups and investors who
feared the White House was expanding trade wars without any plan for
eventual escape.
President Donald Trump Imposes 30% Tariffs on Solar Panels
In the biggest blow he’s dealt to the renewable energy industry yet,
President Donald Trump decided on Monday to slap tariffs on imported
solar panels.
The U.S. will impose duties of as much as 30 percent
on solar equipment made abroad, a move that threatens to handicap a $28
billion industry that relies on parts made abroad for 80 percent of its
supply.
Fed Cuts Interest Rates for First Time Since 2008 Crisis
The Federal Reserve cut interest rates
for the first time in more than a decade on Wednesday as it attempted to
guard the record-long economic expansion against mounting global risks. The
widely expected quarter-point move, the Fed’s first since it cut rates
to near zero in 2008, is meant to protect the economy against the
potentially harmful effects of a growth slowdown in China and Europe and
uncertainty from President Trump’s trade war.
Trump under pressure to address ethanol and trade pain in Iowa and other farm states
The trade war has cost farmers potential Chinese orders for the
corn-based fuel as well as for a byproduct that is used as animal feed.
Now, the refinery exemptions are compounding the financial pain — and
threatening political consequences for the president, who won this state
and its six electoral votes in 2016.