Latest news with #AnaSwanson
New York Times
2 days ago
- Business
- New York Times
Musk vs. Trump, and a Surge in Whooping Cough
Hosted by Tracy Mumford Produced by Will Jarvis and Ian Stewart Edited by Ian Stewart and Tracy Mumford Featuring Tyler Pager and Teddy Rosenbluth Trump and Musk's Unlikely Alliance Breaks Down in Rapid and Public Fashion, by Tyler Pager and Theodore Schleifer After Trump and Xi Speak, U.S. and China Agree to Revive Trade Talks, by Ana Swanson and David Pierson Israel Armed Palestinian Militia to Fight Hamas, Officials Say, by Aaron Boxerman and Patrick Kingsley Whooping Cough Is Surging. Do You Need Another Shot?, by Teddy Rosenbluth Land Snorkeling? Townsizing? A User's Guide to the Latest Travel Lingo., by Elaine Glusac Tune in, and tell us what you think at theheadlines@ For corrections, email nytnews@ For more audio journalism and storytelling, download the New York Times Audio app — available to Times news subscribers on iOS — and sign up for our weekly newsletter.
Miami Herald
4 days ago
- Business
- Miami Herald
Higher U.S. Tariffs on Steel and Aluminum Imports Take Effect
EDITORS NOTE: EDS: SUBS to expand and revise throughout; SUBS headline; ADDS Mega to contributor line; UPDATES list of related stories. NOTE: Story first moved today at 12:52 a.m. ET.); (ART ADV: With photo.); (With: U.S.-MANUFACTURING-OUTLOOK, TARIFFS-BRITAIN, CHINA-MINERALS-SMUGGLING); Ana Swanson reported from Washington, and Ian Austen from Ottawa, Ontario. Emiliano Rodríguez Mega contributed reporting. WASHINGTON -- U.S. tariffs on steel and aluminum imports doubled Wednesday, as President Donald Trump continued to ratchet up levies on foreign metals that he claims will help revitalize American steel mills and aluminum smelters. The White House called the increased tariffs, which rose to 50% from 25% just after midnight Eastern time, a matter of addressing "trade practices that undermine national security." They were announced during Trump's visit to a mill run by U.S. Steel last week, and appear to be aimed at currying favor with steelworkers and the steel industry, including those in swing states like Pennsylvania, where U.S. Steel is based. The higher levies have already rankled close allies that sell metal to the United States, including Canada, Mexico and Europe. They have also sent alarms to automakers, plane manufacturers, homebuilders, oil drillers and other companies that rely on buying metals. In an executive order, Trump said the higher tariffs would "more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminum in the United States market and thereby undercut the competitiveness of the United States steel and aluminum industries." Kevin Dempsey, the president of the American Iron and Steel Institute, an industry group, praised the move. He said China and other countries oversupplied the international market, making it harder for U.S. producers to compete. "Given these challenging international conditions that show no signs of improvement, this tariff action will help prevent new surges in imports that would injure American steel producers and their workers," Dempsey said. But companies that use steel and aluminum to make their products criticized the tariffs, saying they would add costs for American consumers. Robert Budway, the president of the Can Manufacturers Institute, said doubling the steel tariff would further increase the cost of canned goods at the grocery store. "This cost is levied upon millions of American families relying on canned foods picked and packed by U.S. farmers and can makers," he said. The increase Wednesday is the latest in a mounting array of import taxes Trump has announced since returning to the Oval Office in January, including the 25% tariff on steel and aluminum in March. Taken together, the president's trade tactics have increased concerns of a global downturn and heightened corporate America's worries about the cost of doing business. Economists have pointed out that tariffs on factory inputs such as metals risk slowing U.S. manufacturing, since they raise prices for factories. By adding to the cost of making cars, drilling for oil and building data centers, higher steel tariffs could slow other goals of the Trump administration. An economic analysis published by the U.S. International Trade Commission, an independent, bipartisan government agency, suggested that while the steel and aluminum tariffs levied in Trump's first term helped American steel and aluminum producers, they hurt the broader economy by raising prices for many other industries, including automaking. U.S. unions and major companies like Cleveland-Cliffs and U.S. Steel, which have significant lobbying networks, have argued that tariffs are necessary to keep them in business. After struggling financially for years, U.S. Steel agreed in late 2023 to be acquired by Nippon Steel of Japan, though Trump will make the final call on whether the merger can go through. Foreign governments have bristled at the idea that their steel exports are a national security threat to the United States, in part because American demand for the metals far exceeds the country's current ability to produce them. Canada is the largest foreign supplier of both steel and aluminum to the United States. Mexico, Brazil, South Korea and Germany are major suppliers of steel, while the United Arab Emirates, China and South Korea provide the United States with small amounts of aluminum. On Wednesday, President Claudia Sheinbaum of Mexico called the increased tariffs an unjust order with no legal basis. She also warned that her country could react next week with its own measures. "We disagree with it, we don't think it's fair or sustainable because it makes everything more expensive," she said, adding that Mexican officials are set to meet with their U.S. counterparts to negotiate a deal. "If this is not achieved, then we will also be announcing some measures that we must necessarily take to protect and strengthen jobs. It's not a matter of revenge or retaliation." Mexico's steel trade with the United States has historically shown a deficit, meaning Mexico imports more steel than it exports. On Tuesday, Marcelo Ebrard, Mexico's economy minister, said the country would demand to be spared from the latest tariffs. Britain was granted an exemption from the steel and aluminum levies as part of a preliminary deal struck with the U.S. last month, and it remains to be seen if other countries receive similar treatment as part of trade deals. Canada, which is both the largest exporter of steel to the United States and the largest importer of American steel, followed the initial 25% tariff from Trump with a retaliatory tariff. But to allow manufacturers to adjust and find new sources of supply, it suspended the tariffs' start until October. Some Canadian steel manufacturers have said they believe overseas producers are now selling steel once intended for the U.S. market in Canada at unfairly low prices. Prime Minister Mark Carney said Wednesday that Canada would not respond immediately to the escalation. "We are in intensive discussions right now with the Americans on the trading relationship," he said, adding: "Those discussions are progressing." Unifor, Canada's largest private sector union, was among the groups that called for immediate retaliation Wednesday. They were joined by Doug Ford, the premier of Ontario, the province with the three largest Canadian steelmakers. "We can't sit back and let President Trump steamroll us," Ford told reporters in Toronto. "Every single day that it goes by gives uncertainty through the sectors, it adds additional cost on the steel. So we need to react immediately." Catherine Cobden, the president of the Canadian Steel Producers Association, a trade group, said in a statement that doubling the tariff on imported steel "essentially closes the U.S. market to our domestic industry." The previous 25% tariff on steel already had an effect on Canada's producers. The steel association estimates that since the tariff took effect in March, steel shipments to the United States from Canada have fallen 30%. "Steel tariffs at this level will create mass disruption and negative consequences across our highly integrated steel supply chains and customers on both sides of the border," Cobden said. The Aluminium Association of Canada said in a statement Tuesday that the expanded tariff "makes Canadian exports to the U.S. economically unviable" and that "the industry may be forced to diversify trade toward the European Union." Electricity accounts for about 40% of the cost of smelting aluminum, and the trade group estimated that replacing Canadian aluminum with American production would require the expansion of U.S. power generation equivalent to four Hoover Dams. "The Canadian industry supports the U.S. goal of increasing domestic aluminum production capacity from 50% to 80%," the group said. "Punitive tariffs do not create the certainty needed for long-term, capital-intensive investments. Even with higher domestic output, the U.S. will continue to rely on substantial aluminum imports." Industry analysts have said the U.S. tariffs have not significantly curbed shipments from Canadian aluminum mills. The U.S. aluminum industry is too small to significantly replace imports from Canada without expansion and investment. Century Aluminum, a U.S. aluminum maker, said last year that it would build the first new aluminum smelter in the United States in half a century, doubling domestic production. But the United States would remain dependent on imports for most of its aluminum. This article originally appeared in The New York Times. Copyright 2025
New York Times
03-04-2025
- Business
- New York Times
The Trump Tariffs Poised to Remake Global Trade
In a history-making day of tariffs, President Trump imposed charges of at least 10 percent on nearly all of America's trading partners. Ana Swanson, who covers trade for The Times, discusses who will be affected most and looks at how the levies effectively ended one era of global trade and began a new one. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at or on Apple Podcasts and Spotify. Ana Swanson, who covers trade and international economics for The New York Times. Image President Trump signing tariff orders in the Rose Garden of the White House on Wednesday. Credit... Doug Mills/The New York Times The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez, Brendan Klinkenberg and Chris Haxel. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.
New York Times
02-04-2025
- Business
- New York Times
Thursday Briefing: Trump's Global Tariffs
Trump announced sweeping global tariffs President Trump unveiled yesterday his most expansive tariffs to date, hitting all of the U.S. trading partners except Canada and Mexico with a 10 percent tariffs. Europe and China will face much higher rates. At a ceremony at the White House, Trump called the announcement 'our declaration of economic independence.' He added, 'This is liberation day.' Trump said the U.S. would calculate a tariff rate for countries based on the levies they impose and 'other forms of cheating.' These tariff rates are quite high. China will face a staggering 34 percent tariff, while the E.U. will get 20 percent. Japan will be 24 percent and India 26 percent. Trump has argued that tariffs will rebalance a global economy after years of countries 'ripping off' the U.S. Governments across the world have been preparing to hit back, increasing the potential for a destabilizing trade war. We have live updates here. 'Many people had been expecting the president to announce high tariffs today, but the numbers that he just revealed are stunning,' said my colleague Ana Swanson, who covers international trade. The tariffs, she added, 'will likely force some manufacturing back into the United States, but also raise costs for American consumers and manufacturers and incite trade wars on many fronts.' Analysis: Trump's advisers disagree on the goal of the sweeping tariffs. Is it to raise revenue or lower trade barriers? Response: The Canadian and Chinese governments have already retaliated against Trump's previous tariffs with taxes of their own. E.U. officials are weighing potentially targeting American tech and financial giants, a response that some refer to as a 'bazooka.' Race to port: Companies rushed to import goods to the U.S. ahead of the tariffs. More on Trump Israel expanded its offensive in Gaza Prime Minister Benjamin Netanyahu said yesterday that Israel is seizing territory in the Gaza Strip hours after his government laid out plans to occupy large parts of the enclave. Holding territory, Netanyahu said, was meant to push Hamas to return at least 59 remaining hostages captured in the Oct. 7, 2023, attacks. 'The pressure will increase until they hand them over,' he said. The Israeli military appears to be planning to station forces in captured territory. The defense minister said newly captured areas would be 'added to the security zones' that the military currently maintains in Gaza. One family's story: Huda Abu Teir returned home to Gaza during the cease-fire last month, hoping to rebuild. She was killed along with eight others when Israel shattered the cease-fire and destroyed their home. Aid: The closure of 25 bakeries run by the U.N. across Gaza will deprive Palestinians of a source of reliable food. Anger at Elon Musk put Tesla in a slump Tesla said yesterday that its global sales in the first quarter of 2025 fell 13 percent from a year earlier. Even in Norway, where electric vehicles account for more than 90 percent of new car purchases, sales dropped sharply. The change partly reflects consumers' anger at Elon Musk for his right-wing politics and prominent role in the Trump administration. But there are other explanations, including that other E.V. makers are catching up to Tesla's technology and offering a wider range of vehicles. After a lifetime of loving Shanghai in spite of its pollution, noise and mess, one longtime visitor recently returned to find a changed city after the pandemic, with bluer skies and quieter, cleaner streets. But some changes, like the near-total transition to app-based life, for everything from payments to transportation, can make it tough for travelers. Here are some tips. Lives lived: Val Kilmer, a Hollywood film star who played Jim Morrison and Batman, died at 65. Here's seven of his best films. David Hockney is ready for the exhibition of his life When the Louis Vuitton Foundation in Paris asked David Hockney two years ago about staging a retrospective of his work, he assumed he wouldn't be around to see it. Now, at 87 and under constant medical care, the artist is determined to attend what will be his biggest show ever. 'David Hockney 25,' which opens April 9, features more than 400 works, including many early pictures that will be shown in the same space for the first time. Hockney, who has become one of the most recognizable artists of his time by playing by his own rules, said he wanted visitors to take away just one thing from the show: 'Joy, some real joy!' Read about it here. Cook: These skillet pork chops lean on sweet and spicy Yucatán flavors. Watch: 'Truelove' explores the bonds among aging friends who are determined not to let one another suffer. Read: In 'Flesh,' David Szalay offers unvarnished scenes from a lonely, rags-to-riches life. Listen: Ten writers and musicians share the Billie Holiday songs they love. Check In: How healthy is your social circle? Take this quiz and find out. Play: Spelling Bee, the Mini Crossword, Wordle and Sudoku. Find all our games here. That's it for today. See you tomorrow. — Emmett We welcome your feedback. Send us your suggestions at briefing@
New York Times
10-02-2025
- Business
- New York Times
Tuesday Briefing: Trump's New Tariff Fight
Trump's new tariffs would hit metals imports President Trump was poised to move forward with sweeping 25 percent tariffs on foreign steel and aluminum that are likely to rankle Canada and Mexico, which supply the bulk of U.S. metal imports. The two countries could also incite retaliation on U.S. exports. Trump said on Sunday that he would make a formal announcement about the tariffs on Monday. His decision took leaders in Canada and Mexico by surprise. A North American trade war had been averted at the last moment last month when deals were reached with Trump for a 30-day postponement of tariffs. My colleague Ana Swanson, who covers trade, said the new tariffs 'will probably spark new trade fights with American allies.' 'The interesting thing about steel and aluminum tariffs is they do really help domestic metal makers,' she said. 'But there's a big trade-off because they increase costs for other businesses that use steel and aluminum. And there a lot of those — makers of cars, machinery, planes and food packaging come to mind.' Context: Trump imposed a 25 percent tariff on metals in his first term. Studies showed that the move hurt the broader economy as prices went up for so many other industries. China: Trump's metal tariffs might primarily be aimed at allies of the U.S., but they're really intended to hit China, which dominates the global steel and aluminum industry. More on Trump Hamas won't free hostages 'until further notice' Hamas has indefinitely postponed the release of Israeli hostages who were set to be freed this weekend, a spokesman said yesterday. He accused Israel of several violations of the cease-fire agreement. The move threatens to derail a six-week truce and prospects for a lasting end to the war. The announcement from Hamas came after Fox News published a clip of an interview in which President Trump said Palestinians would not be allowed to return to Gaza under his plan to relocate the entire population. What's next: Prime Minister Benjamin Netanyahu of Israel planned to hold a meeting of his security cabinet after consulting with his top advisers. Mediators from Qatar and Egypt could work with Israeli and Hamas negotiators to find a resolution. Europe wants to be a top contender in the A.I. race Top tech executives, academic experts and government leaders gathered yesterday in Paris for a two-day A.I. summit. Europe wants to keep up with the U.S. and China in the A.I. race, but investors worry that the continent has too much red tape, and that its taxes are too high. It was a fear that President Emmanuel Macron of France seemed eager to push past. 'If we regulate before we innovate, we won't have any innovation of our own,' he said. China: Many people in the country see the success of the start-up DeepSeek as a victory for domestic education, proof that it equals or has surpassed that of the U.S. Many Lebanese citizens have emigrated during times of conflict or disaster. But after looking from afar at images of their homeland battered by war with Israel, some in this influential diaspora — estimated at nearly three times the size of the country's population of 5.7 million — have begun trickling back, hoping to offer support. The challenges are huge. Lives lived: Gyalo Thondup, the eldest brother of the Dalai Lama and a prominent figure in Tibet, died at 97. Settling a score at the Super Bowl halftime show Whether Kendrick Lamar would perform his Grammy-winning Drake diss 'Not Like Us' at the Super Bowl halftime show dominated conversations leading up to the event. The song has become Lamar's signature hit. During his feud with Drake, Lamar has appeared to take on the dismantling of his rival as necessary homework. But when he finally launched into 'Not Like Us' on Sunday, he did so with the grin of a man who was having the time of his life at the expense of an enemy. It was quite a spectacle — perhaps the peak of any rap battle ever, my colleague Jon Caramanica writes. Cook: Steady, gentle heat is the key to making these miso leeks with white beans. Watch: In 'Love Hurts,' Ke Huy Quan plays a cheery real estate agent trying hard to forget his past life as an assassin. Read: A new biography on the Bangles tells the story behind one of the defining bands of the 1980s. Listen: 'Face-Off,' a podcast about changes in U.S.-China relations, is back for a second season. Play: Spelling Bee, the Mini Crossword, Wordle and Sudoku. Find all our games here. That's it for today. See you tomorrow. — Emmett We welcome your feedback. Send us your suggestions at briefing@
