President Donald Trump’s global trade war and federal spending cuts — as well as his threat of cutting funds to Maine — have state officials preparing for slowing economic growth and rising unemployment.
tariffs
Posted inBusiness, Local & State, News
Maine energy prices, already costly, expected to rise as Trump tariffs take effect
The impact on heating oil and gasoline is expected to be felt as soon as this week, though how electricity imported from Canada will be affected is less clear.
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Posted inBusiness
China challenges EV tariffs imposed by Europe, files complaint
The EU last month imposed provisional tariffs on some car imports from China that would raise rates to as high as 48% after a months-long probe into Chinese state aid to EV makers.
Posted inBusiness, Nation & World, News
Trump says administration will ‘certainly think about’ tariffs on autos imported from Europe
The Commerce Department has been investigating whether imported vehicles and parts pose a threat to national security.
Posted inBusiness, Nation & World
Trade war’s wounded: Companies improvise to bandage financial impact
Tariffs are adding costs, causing hardships and raising uncertainty for many U.S. businesses.
Posted inBusiness, Nation & World, News
Progress unclear after 3 days of U.S.-China trade talks conclude
But the negotiations take an optimistic tone after talks on the tariffs dispute were extended a day.
Posted inBusiness
Tax system reforms rattle China’s super-rich
The changes mean more government revenue will come from the wealthy as the masses pay lower levies in 2019.
Posted inBusiness, Nation & World
U.S. silent as China tries to ease trade tensions in advance of new talks
Beijing’s pledges to open up its economy fall well short of Trump’s demands on alleged forced transfers of technology and theft of intellectual property, analysts say.
Posted inBusiness, Nation & World, News, Politics
Chinese tech executive’s arrest sends stocks tumbling; Federal Reserve reports lift them back up
The Wall Street Journal reported Thursday that the Fed may break from its current approach of steady rate hikes.
Posted inBusiness, Nation & World
Trump hints he might decide to impose tariffs on car imports
He says that would give U.S. automakers more business and GM would not have to close plants.