President Donald Trump elaborated on his tariff intentions with reporters in the White House, after posting online earlier in the day that 50% tariffs would begin on EU exports on June 1, and that he would be imposing a 25% tariff on imported iPhones.
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President Donald Trump reacted to a Walmart earnings call that warned prices will go up as a result of recent tariffs, saying on social media: "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!"
A Chinese company and three Chinese nationals were charged for their alleged roles in the illegal importation of "pill-making equipment," according to an indictment unsealed on May 12, DOJ announced. The company, CapsulCN International Co., and the individuals, Xiochuan "Ricky" Pan, Tingyan "Monica" Yang and Xi "Inna" Chen, were charged with smuggling and violating the Controlled Substances Act.
A U.S.-U.K. trade deal announced in the Oval Office leaves the average tariff on U.K. goods at 10%; however, aerospace engines and parts will enter duty-free.
President Donald Trump, in a social media post, complained that other countries are offering "all sorts of incentives to draw our filmmakers and studios away from the United States," and that Hollywood and other U.S. regions "are being devastated." He said this is national security threat. "It is, in addition to everything else, messaging and propaganda! Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands. WE WANT MOVIES MADE IN AMERICA, AGAIN!"
Senate Commerce Committee Chairman Ted Cruz told commerce deputy secretary nominee Paul Dabbar that, as "an experienced dealmaker," he hopes Dabbar will help to secure "freer and fairer trade with our allies, not across-the-board protectionism" -- and to also argue for that approach.
Treasury Secretary Scott Bessent said in a TV interview that "an agreement in principle" can be reached with 17 trading partners to prevent "the tariffs there from ratcheting back to the maximum level."
Amid swirling reports that China is considering exemptions from tariffs on some critical U.S. goods, an industry expert said that these moves should not be read as a broader shift in the trade war between the two countries.
Comments from President Donald Trump and from a private talk by Treasury Secretary Scott Bessent on April 22 gave importers hope that the triple-digit tariffs on Chinese imports will drop soon. But Bessent, speaking to Bloomberg after a speech on April 23 at the Institute of International Finance, said there is no plan for the U.S. to drop its tariffs unilaterally, and that there is no timeline for engagement with China.
President Donald Trump criticized business officials who have said his tariffs actions are damaging, bragged about countries and executives asking for breaks, and made a list of non-tariff cheating he wants countries to end, all on social media over the weekend.