BALTIMORE (AP) — By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world’s two largest economies — and the outcome is far from certain. No one knows how long the tariffs announced Monday might last. No one knows if a politically divided […]
tariffs
Posted inMaine, sj-web
Dealers say China inflating lobster prices
SUGGESTED PULLQUOTE: “The tariff is bad enough, but to use the hard-shell price on a firm-shell order to drive it up higher, that’s salt on the wound.” — Stephanie Nadeau, The Lobster Co., Arundel Maine lobster dealers say China is improperly inflating the market price of lobster to increase its punitive tariffs on U.S. live […]
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Posted inMaine, sj-web
Baby lobsters going deep for cold water
The discovery of baby lobsters in the deep waters off eastern Maine could be good news for the future of the U.S.’s most valuable fishery. Since 1989, scientists led by University of Maine professor Richard Wahle have looked for baby lobsters at 100 shallow-water test sites from Rhode Island to New Brunswick to monitor the […]
Posted inMaine, sj-web
Lobster exports to China tank in first month of tariffs
Richie Thurston sorts lobsters while processing orders for local restaurants at The Lobster Co. in Arundel on July 27. Last summer, The Lobster Co. was exporting $100,000 of lobsters a day to China, but with new tariffs placed on U.S. lobster imports to China, owner Stephanie Nadeau said exports to that country have completely dried […]
Posted inBusiness, sj-web
Trade panel nullifies newsprint tariffs
WASHINGTON — The U.S. International Trade Commission on Wednesday nullified tariffs put into place for imported newsprint by finding that American producers weren’t harmed by imports from Canadian paper mills. The ruling is a victory for the U.S newspaper industry, which complained that the rising cost of newsprint, typically their second-biggest expense, made it harder […]
Posted inBusiness
Tariffs will make fixing your car more expensive
Hopkins Manufacturing may shift its China supplier network to factories in Taiwan. Multi Parts has stopped hiring new employees. AutoZone and O’Reilly Automotive plan to raise prices. Businesses in the replacement auto-parts industry — from component makers to local mechanic shops — are scrambling to cope with President Donald Trump’s tariffs on imported Chinese materials […]
Posted inNation / World, sj-web
Backing off auto tariffs, U.S. and EU agree to more talks
WASHINGTON (AP) — President Donald Trump and European leaders pulled back from the brink of a trade war over autos Wednesday and agreed to open talks to tear down trade barriers between the United States and the European Union. But while politicians and businesses welcomed the deal Thursday, the agreement was vague, the negotiations are […]
Posted inNation / World, sj-web
Donald Trump accuses China of using 'vicious' trade tactics
WASHINGTON (AP) — President Donald Trump on Wednesday accused China of “vicious” tactics on trade as he prepared for tough negotiations with European leaders in an escalating trade battle among world powers. Trump tweeted that China was specifically targeting U.S. farmers with retaliatory tariffs because “they know I love & respect” them. His defense came […]
Posted inPerspective, sj-web
Trumponomics: Trade war spotlights president's unorthodox stance
Donald Trump ran for office on his record as a businessman, but his escalating trade war illustrates how far outside the mainstream his economic beliefs lie. To the president, the existence of a trade deficit means other countries are “stealing” from the U.S. Few economists would agree, and they warn that the tariffs he’s imposing […]
Posted inNation / World, sj-web
U.S. tariffs take effect; China announces retaliation
BEIJING (AP) — The United States and China hiked tariffs Friday on billions of dollars of each other’s goods, launching what Beijing called the “biggest trade war in economic history” in a spiraling dispute over technology. The Trump administration is confronting Beijing over development tactics it says include stealing or pressuring foreign companies to hand […]