US EditionTrump's global tariffs 'victory' may come at a high price
UNITED STATES, AUG 1 – Tariffs increased from 2% to 17% have boosted US government revenue by over $100 billion this year, while trade deals with multiple partners aim to reduce the trade deficit.
- On August 7, President Donald Trump will impose tariffs on over 60 countries, with Canada hit by a 35% tariff as of August 1.
- Last April, Trump announced his tariff regime on Liberation Day, promising new revenue and revived manufacturing under an 'America First' framework.
- Government figures confirm import duties have raised more than $100bn, about 5% of federal revenue, this year, with tariffs now ranging from 10% to 41%.
- US consumers face higher prices and reduced choice, Oxford Economics warns that tariffs may damage the global economy and squeeze household incomes.
- Experts say whether US tariffs will cause lasting damage remains very much in doubt, with questions answered over years, not months.
Insights by Ground AI
Does this summary seem wrong?
13 Articles
13 Articles
Donald Trump's customs duties: latest developments and final announcements.
·Montreal, Canada
Read Full Article
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says
The automaker that builds more cars in the US than any other company says it may actually be hurt more by President Donald Trump's tariffs than foreign manufacturers.Ford said it's at a disadvantage compared to companies based in the European Union, Japan, and South Korea, The Wall Street Journal reported. Trump has set the tariff rate for those nations at 15%, significantly lower than the broad 25% duty on autos and light trucks that began in t…
Coverage Details
Total News Sources13
Leaning Left3Leaning Right1Center1Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 20%
R 20%
Factuality
To view factuality data please Upgrade to Premium
