european union, deal and 15 tariff
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The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.
But for many foreign companies, the slide in the US dollar has incentivized them to raise their invoice prices to compensate, according to Wells Fargo. And Deutsche Bank’s Saravelos said the pressure on US firms so far to bear tariff costs is another headwind for the greenback, which is already on its worst start to a year since the 1970s.
Trump said many companies would be investing in semiconductor manufacturing in the US, including some from Taiwan and other places, to avoid getting hit by new tariffs.
Automakers might increase prices moving forward, according to a report from the intelligence firm AlixPartners.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
Wall Street is coming off a winning week fueled by strong earnings and recent deals between the U.S. and its trading partners.
Companies are rerouting supply chains, sharing costs with suppliers, and, yes, raising their prices.
Brazil is scrambling to avert punishing 50% U.S. tariffs in a week's time, but high level talks are stalled and U.S. companies are reluctant to confront U.S. President Donald Trump over the issue, officials and industry leaders say.
Many U.S. companies, including GM, Walmart, and Home Depot, are currently absorbing tariff costs, sacrificing profits to shield consumers from price hikes.