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Showing posts with the label Inflation

US Cutting Tariffs On 200+ Items

  An executive order signed by President Trump on Friday, November 14, has the US cutting Tariffs on 200+ Items. More specifically, the levies that Trump placed on over 200 classifications and eleven categories of agricultural products are now exempt. Some of these food products include beef, coffee, avocados, cashew nuts, tomatoes, and more.  On April 5, 2025, Trump began enforcing a 10% baseline tax on all imports into the US.  He imposed them under the IEEPA (International Emergency Economic Powers Act (IEEPA) declaring it a national emergency. The recent order will remove specific agricultural goods from the reciprocal tariffs. This article explains the purpose of the exemption and what it will mean for international shipping. Why is the US Exempting Tariffs On Agricultural Products? President Trump’s main reason for the tariff rollback is the administration’s progress on numerous trade deals. Since imposing tariffs, the US has reached “framework” deals with agricultu...

Trump Imposing Furniture Tariffs

  An investigation by the Trump administration could soon result in Trump imposing furniture tariffs. On August 22, the president announced a “major” tariff investigation on furniture entering the US. The potential rate has not been determined yet, and the examination will happen over the next 50 days.  With Trump recently enforcing country-specific tariffs , it is unclear if he will apply the furniture tax on top of them. A white house official also announced it will happen under the Section 232 national security code. Recently, Trump expanded the scope of the Section 232 levy to include steel and aluminum imports. Given the amount of furniture countries import into the US, the tariffs could majorly impact international shipping. Why Is Trump Imposing Furniture Tariffs? Trump is pushing furniture tariffs for various reasons in his “America First” agenda. A primary goal is to encourage domestic manufacturing by raising import costs. This could stimulate the economy by creating...

Trump Announced New Tariffs

  On Monday, July 7, President Trump announced new tariffs for imports into the US after signing an executive order. In identical letters sent to various countries, Trump revealed that reciprocal tariffs would have varying amounts from the original numbers.  The executive order will also extend the 90-day extension deadline from July 9 to August 1 . Some countries, like Japan and Malaysia, will see an increase in rates from 24% to 25%. Other countries will see a decrease, like Laos, from 48% to 40%, and others, like Thailand, will remain the same. This article will explain the goal behind the tariff changes and what it could mean for US imports. Why Trump Announced New Tariffs For Imports President Trump’s goal in extending the tariff deadline is to give trading partners time to negotiate deals. The new rates are to maintain negotiating leverage by pressuring importing countries to finalize talks. Multiple reasons have been given for issuing the reciprocal tariffs, including a...