trade deficit

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Investopedia· 2025-08-05 20:00
President Donald Trump has said his tariffs were designed to close the gap between the amount of goods imported and exported. The U.S. trade deficit declined in June, but tariffs may have played an unexpected role. https://t.co/h7lKuw2B1O ...
‘No president’s ever read it this way’: Trump faces major legal challenge over tariff justification
MSNBC· 2025-08-03 16:34
Is Donald Trump's sweeping tariffs go into effect? We are waiting on a ruling from a federal appeals court that may answer a crucial question. Are the bulk of Trump's tariffs even legal? During a likely legal argument on Thursday, federal appeals courts judges seem skeptical that Trump had the power to bypass Congress and impose tariff rates around the world by using a 1977 emergency law. Joining us now is the lead lawyer who argued the tariffs case against Trump's executive order, former US acting solicito ...
Trump's tariffs go to court: 'They have yet to make a case for why this actually works'
MSNBC· 2025-07-31 21:45
Trade War & Tariffs - The Trump administration's tariff authority is facing legal challenges, with arguments presented before a federal appeals court questioning the necessity of congressional approval for imposing tariffs [1] - The lawsuit argues that tariffs imposed by President Trump represent the largest tax increase on Americans since 1993, costing the average American household $1,300 per year [1] - The administration defends the tariffs by citing the large trade deficit as an emergency, but the executive order mentions persistent trade deficits over the past 50 years, potentially undermining the emergency claim [1] - A lawyer argues that historically, no president has unilaterally imposed tariffs in the manner that President Trump has [3] - Congress has granted the president limited power to increase tariffs by 15% for 150 days in response to large trade deficits, but Trump bypassed this statute [4] Impact on Businesses - Small businesses are claiming that the tariffs are crippling them, with one company, Micro Kits, canceling orders and facing potential payroll issues [5] - Reshoring manufacturing to the US to avoid tariffs is projected to cost trillions of dollars and potentially take decades [7]
Former U.S. Trade Rep. Ron Kirk: President Trump's trade policy is more performative than strategic
CNBC Television· 2025-07-08 15:22
Trade Deficit and Tariff Impact - The trade deficit has widened, partly due to retaliatory measures from other countries in response to the US's more aggressive trade policies [3][4] - Blanket tariffs are not seen as effective in addressing trade imbalances, with little support outside the administration [18] - There's concern that tariffs are more performative than strategic, causing market downturns without achieving reshoring or manufacturing goals [5][6] US Economic Position and Trade Relations - The US is considered the most desirable economic market, but its reputation is being damaged by perceived bullying tactics and disregard for the rule of law [14][15] - Other trading partners are questioning whether they can rely on the US's word, potentially seeking alternatives [16] - The administration's approach is putting US businesses in a difficult situation [16] Tariff Revenue and Economic Impact - The administration is expected to collect $3.7 trillion in tariffs, potentially to offset tax cuts, but this cost will ultimately be borne by American businesses and consumers [11] - Tariffs are viewed as a tax on American businesses and consumers, despite being presented as a toll on access to the US market [10] - Companies dependent on foreign inputs may face layoffs or business closures due to tariffs [12] Alternative Trade Strategies - Sectoral targets, focusing on specific industries and egregious behavior, are considered a more effective and targeted approach than blanket tariffs [17][18]
‘Take Any Job You Can Get’: Danielle DiMartino Booth
CNBC· 2025-06-24 16:00
We've been speaking with top economists to better understand what this economic climate means for companies' bottom lines. Today, I'm speaking with CEO and Chief Strategist for QI Research Danielle DiMartino Booth. Hi, Danielle, thanks so much for taking the time to speak with me again this year.Thank you for having me. Great to be with you again. How can companies protect their bottom lines in this time of political and economic uncertainty.So, you know, the idea of battening down the hatches before the hu ...
Lutnick: Trump Needs to Approve Plan Between US, China to Ramp Down Trade Tensions (Reporter Q&A)
Bloomberg Television· 2025-06-11 13:45
It's been. President Trump's fundamental goal is to reduce the trade deficit and increase trade. So this was the first step that the framework by which we will then approach and discuss growing trade.But first, we had to get sort of the negativity out, and now we can go forward to try to do positive trade, growing trade and beneficial to both China and to the United States. From every time I think we met agreements before the 12th of August. Can you repeat it.Do you feel confident to make an agreement with ...