Despite growing concerns over fallout from the Trump administration’s trade barriers, Gap Inc. on Thursday joined other retailers in reporting profit growth for the most recent three-month earnings period. Revenue at the San Francisco-based apparel chain grew 7.5 percent to $4.09 billion for the quarter that ended on June 30. Net income rose 6.6 percent […]
NASDAQ Hits 8,000 for the First Time as NAFTA Deal Gets Closer…
Gap Joins U.S. Retail Rally as Quarterly Sales Top $4 Billion…
Turkey Is Getting Off the U.S. Reservation…
This year’s BRICS Summit was a big show. No question. The main event was provided by Turkish President cum Dictator Recep Tayyip Erdogan. Erdogan wants to a a “T” to the acronym, making them the BRICTS. Erdogan also made it very clear Turkey’s shift away from the West will proceed faster if the bullying and […]
EU Steels Itself with New Tariffs Aimed at Protected Domestic Industry…
The European Union has announced that it will impose tariffs on steel imports into the bloc as part of its response to the US imposition of tariffs on steel and aluminum products. The measures are not just retaliatory, but a way to help shield the EU’s market from a glut of steel heading to the […]
EU Threatens $300 Billion Retaliation If U.S. Moves Ahead With Auto Tariffs…
More than a week after President Trump threatened to slap a 20% tariff on auto imports from the European Union, Brussels has issued a written warning to the US Department of Commerce with a threat of its own: If the Trump administration moves ahead with the auto tariffs, the bureaucrats in Brussels won’t hesitate to […]
Canada Makes Retaliatory Tariffs Official: ‘We will not back down’…
Canada’s foreign minister announced Friday that Ottawa plans to impose about $12.6 billion worth of retaliatory tariffs on U.S. goods on July 1, joining other major U.S. allies striking back in the escalating trade dispute. The country is working closely with the European Union and Mexico, according to Foreign Minister Chrystia Freeland. “We will not […]
China Enters the Trade Trap…
Perhaps nobody know what President Trump will do next, including President Trump, but right now it looks like he has successfully maneuvered China into a trade trap. The goal is to slow China’s economy such that military modernization slows and its economy cannot catch up with the United States. Meanwhile, implementation of this strategy is […]
Trump’s “Trade War” Is Working: U.S. Trade Deficit Collapses…
One month after the biggest plunge in the US trade deficit since the financial crisis – good news for Trump who has engaged in “trade war” with the rest of the world to boost US trader and exports – the good news continued in April, when according to the Census Bureau, the US deficit shrank […]
President Trump and Commerce Secretary Wilbur Ross Lowered the Hammer on the Big Club…
Today is the day I’ve been waiting for. Today President Trump and Commerce Secretary Wilbur Ross lowered the hammer on the Big Club. China, the EU, Canada and Mexico have been exploiting weak U.S. trade policy for years. Through the effective utilization of targeted tariffs, with multiple opportunities -and warnings- to avoid the outcome, President […]
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