Articles Tagged: Tariffs

The Republican-controlled Senate has approved a budget framework that includes multitrillion-dollar tax breaks and spending cuts. Passage of the plan paves the way for Republicans in coming months to push a tax cut bill through both chambers of Congress.

Republican leaders in the Iowa House and Senate said they are carefully monitoring the impact of sweeping tariffs on U.S. imports announced this week by President Donald Trump as they draft the state's budget.

Hours after global stock markets tumbled, Sens. Chuck Grassley (R-Iowa) and Maria Cantwell (D-Washington) introduced a bill Thursday requiring Congress to approve any tariffs within 60 days of their proposal by the president.

Iowans raised concerns over record-high egg prices, sweeping reciprocal tariffs on U.S. imports and cuts to the Social Security Administration during a telephone town hall Wednesday evening hosted by Iowa Republican U.S. Rep. Ashley Hinson.

Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.

President Donald Trump, during a ceremony Wednesday, held up a chart while speaking, showing the United States would charge a 34 percent tax on imports from China, a 20 percent tax on imports from the European Union, 25 percent on South Korea, 24 percent on Japan and 32 percent on Taiwan.

In her first visit to Iowa, U.S. Department of Agriculture Secretary Brooke Rollins on Monday said the administration may provide emergency aid to farmers — as it did during Trump’s first term — to offset losses from retaliatory tariffs on agriculture exports imposed by America’s trading partners.

Ingredients like oats imported from Canada are crucial in Cedar Rapids cereal manufacturing industry. Tariffs would put cereal manufacturing jobs at risk while raising prices for consumers, the Mayor says.