Your Thanksgiving turkey could be more expensive this year. Tariffs are a big culprit
An average 15-pound turkey could cost around $30 this Thanksgiving, according to an analysis from Purdue University.
Tag: tariffs
Farmers caught in Trump’s trade war wait for bailout. But many call it a temporary fix
The Trump administration is promising billions in a bailout for farmers. This harvest season the trade war with China has added to the farm economy’s woes, as producers deal with lower crop prices and high costs.
Trump signs order imposing new tariffs on a number of trading partners that go into effect in 7 days
Trump imposed the Friday deadline after his previous “Liberation Day” tariffs in April resulted in a stock market panic. His unusually high tariff rates, unveiled in April, led to recession fears — prompting Trump to impose a 90-day negotiating period. When he was unable to create enough trade deals with other countries, he extended the timeline and sent out letters to world leaders that simply listed rates, prompting a slew of hasty deals.
During B-N stop, Rep. LaHood defends higher tariffs and new landscape of trade agreements
U.S. Rep. Darin LaHood is hailing this week’s announcement of a trade agreement with the European Union and recent ones with Vietnam, the United Kingdom, Indonesia, and Japan as the Trump administration continues to reshape the global economy.
Pritzker signs executive order responding to impact of tariffs on Illinois
The order requires seven state agencies to “consider the specific impacts that the U.S. tariffs have had on Illinois and provide draft recommendations of measures to mitigate the impact of these tariffs” within the next 100 days,
U.S. ginseng growers and animal breeders rely on exports to China. Now they wait on a trade deal
Specialty producers exporting to China have been hit just as hard as soybeans and beef. But they often have fewer alternative markets for their crops, worsening the impact of retaliatory tariffs.
Trump marks his first 100 days in office with a rally in Michigan, a state rocked by his tariffs
President Trump told Time Magazine of his first 100 days, “I think that what I’m doing is exactly what I’ve campaigned on.”
Tariffs impact what crops some U.S. farmers are choosing to plant this year
Farmers are planning on putting fewer acres of soybeans in the ground this spring amid retaliatory tariffs from China and higher production costs.
U.S. farmers were already struggling to turn a profit. Trump’s trade war will make that harder
Recently implemented tariffs are likely to push crop prices further down, while increasing the costs for fertilizer and farm equipment.
How Trump’s tariffs could threaten construction and housing affordability in Champaign-Urbana
The Trump administration has rolled out tariffs that affect a wide variety of goods and industries — including home construction. The situation is rapidly evolving, and some worry all the uncertainty and supply chain disruptions could drive up housing prices.
China retaliates with new 84% tariffs as global markets fall
“The US’s practice of escalating tariffs on China is a mistake on top of a mistake,” the ministry said in a statement announcing the fresh round of levies.
Tariffs are fueling fears of a recession. What does it take to actually declare one?
Since President Trump announced the sweeping baseline and “reciprocal” tariffs, Google searches for the term “recession” have surged and economists at prominent investment banks have pointed to increased odds of a recession occurring.
Higher prices are likely for these 10 grocery items when tariffs hit
A trip to the grocery or liquor store is about to become even more expensive, economists say, following the latest round of import tariffs announced by President Trump on Wednesday.
Tariffs threaten to upend markets American farmers depend on
U.S. row crop farmers produce enormous quantities of food, and they depend on selling lots of it overseas. They thrive under free trade policies.
Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars
President Donald Trump declared on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States.