Boeing’s 787 Dreamliner jet is a multinational concoction, made of parts from around the globe. Wings from Japan. Doors from France. Portions of the fuselage are built in Italy before they are shipped to the United States to be assembled by workers in South Carolina. It’s an arrangement made possible by a nearly 50-year-old trade agreement that allowed Boeing and other players in the U.S. aerospace industry to sell airplanes and buy parts from anywhere in the world, duty-free. Now President Donald Trump’s global tariffs threaten to disrupt this interlocking supply chain. For the first time in nearly half a…
Author: Bob Mery
Even when India was staring down the barrel of a 27 percent tariff on most of its exports to the United States, business executives and government officials saw an upside. India’s biggest economic rival, China, and its smaller competitors like Vietnam were facing even worse. India has been pushing hard in recent years to become a manufacturing alternative to China, and it looked as if it had suddenly gained an advantage. Then India and its smaller rivals got 90-day reprieves, and President Trump doubled down on China, boosting its tariff to 145 percent. The sky-high tax on Chinese imports to…
President Trump’s rapidly escalating trade war with China has resulted in eye-watering tariffs on products exchanged between the countries and scrambled prospects for many global businesses that depend on the trade. And there is no end in sight. The Trump administration has been waiting for the Chinese leader, Xi Jinping, to call Mr. Trump personally, but Beijing appears wary of putting Mr. Xi in an unpredictable and potentially embarrassing situation with the U.S. president. With the two governments at an impasse, businesses that rely on sourcing products from China — varying from hardware stores to toymakers — have been thrown…
President Trump on Wednesday abruptly reversed course on steep global tariffs that have roiled markets, upset members of his own party and raised fears of a recession. Just hours after he put punishing levies into place on nearly 60 countries, the president said he would pause them for 90 days. But Mr. Trump did not extend that pause to China, opting instead to raise tariffs again on all Chinese imports, bringing those taxes to a whopping 125 percent. That decision came after Beijing raised its levies on American goods to 84 percent on Wednesday afternoon in an escalating tit-for-tat between…
Kari Lake, senior adviser to the parent agency of Voice of America, is set to be detailed to the State Department, a move that could thwart her ambition of transforming U.S.-backed news content worldwide, according to two people with knowledge of the move who spoke on the condition of anonymity because they were not authorized to share internal decisions. President Donald Trump tapped Lake to lead VOA, which delivers news to audiences around the world, after she had eagerly sought a position in the new administration. Lake, a one-time Republican candidate for Arizona governor and U.S. Senate, had told her associates that she wanted…
Michael Cohen once famously said he’d take a bullet for Donald Trump — even though his position as Trump’s personal lawyer hardly required that type of life-on-the-line loyalty. As things turned out, Cohen didn’t really mean it, but by then his life and livelihood had been torn apart because of his extreme fealty to Trump, which earned him tens of millions of dollars but then backfired in spectacular fashion. In stark contrast, a senior Secret Service agent whose job is literally to take a would-be assassin’s bullet for the president defiantly told colleagues and friends just a few weeks before…
Google Inc. is snapping up YouTube Inc. for $1.65 billion in a deal that catapults the Internet search leader to a starring role in the online video revolution. The all-stock deal announced Monday unites one of the Internet’s marquee companies with one of its rapidly rising stars. It came just hours after YouTube unveiled three agreements with media companies in an apparent bid to escape the threat of copyright-infringement lawsuits. The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history. Although some cynics have questioned YouTube’s staying power, Google is…
