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Storm clouds gather over US economy as Trump kicks off trade war

Quotes

    • 88:88
      We're going to see a price level change upward,
      The Korea Times
      said Kleinhenz
    • 88:88
      Greg Daco
      The exceptionalism and resilience that we've been talking about for two years, I think is starting to show some cracks,
      The Korea Times
      Daco added
    • 88:88
      We've got now multiple trade wars on multiple fronts,
      The Korea Times
      Swonk said
    • 88:88
      The consumer will likely see price increases over the next couple of days,
      The Korea Times
      Cornell said, with food imported from Mexico now hit with a 25 percent levy
    • 88:88
      We estimate the tariffs could lead to a nearly $1,000 per household increase annually in the cost of goods,
      Aljazeera
      said Nationwide Mutual chief economist Kathy Bostjancic
    • 88:88
      Both supply and demand of imported iron ore in China are predicted to strengthen in March, usually a month when steel consumption in the country is robust,
      Reuters
      Chinese consultancy Mysteel said
    • 88:88
      Sentiment was also impacted by the prospect of further tariffs,
      Reuters
      ANZ analysts said
    • 88:88
      The impact on us, admittedly, is going to be greater than the impact on the United States, ... You add a 25% tariff on most of that … and it’s going to immediately have an impact in terms of reducing or eliminating gross, possibly sending the economy into a recession.”
      CNN
      Fagan told CNN, adding
    • 88:88
      If US consumers are not buying as much product produced in Mexico, then eventually, that could result in job losses for Mexico,
      CNN
      Marczak told CNN
    • 88:88
      Justin Trudeau
      This is going to be tough.”
      CNN
      Canadian Prime Minister Justin Trudeau acknowledged
    • 88:88
      If it’s a 25% tariff, that’s far bigger than profit. So, at a certain point, very quickly, unless you can pass those costs along to consumers, ultimately, it’s not profitable to continue to produce,
      CNN
      he said, warning that a pause in production
    • 88:88
      If this issue of tariffs is consolidated, an important evaluation of the geographic diversification of the Mexican economy must be made,
      CNN
      she said
    • 88:88
      Tariffs create ripple effects that move through complex supply chains in ways that aren't always obvious,
      CNBC
      Travis Tokar, professor of supply chain management at Texas Christian University, wrote in an e-mail
    • 88:88
      There's simply no simple replacement for the products shipped from Irving Oil's refinery. That's the primary supply point for multiple terminals in the area,
      Reuters
      TACenergy said in a market commentary published Tuesday morning
    • 88:88
      If you're filling up in the Northeast, you'll see price increases first and more significantly,
      Reuters
      GasBuddy analyst Patrick De Haan said in a blog post on Tuesday
    • 88:88
      Tariffs can play a role in gas prices, but so do other factors like the price of crude oil, which right now is on the lower side,
      Reuters
      she said
    • 88:88
      Justin Trudeau
      There is absolutely no justification or need whatsoever for these tariffs today,
      The Gazette
      Trudeau said,
    • 88:88
      We are talking to everyone on this to see how this can be resolved,
      Reuters
      he told reporters
    • 88:88
      We have been reserving warehousing capacity, looking to reserve space in ports to export the metals to Asia,
      Reuters
      Price said