Tariffs
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President Donald Trump granted a 90-day extension to a shipping waiver that makes it easier to move oil, fuel and fertilizer around the United States, the White House said on Friday, the latest effort to curb rising energy costs linked to the war with Iran. The decision adds roughly three months to the existing waiver…
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Beijing on Friday (Apr 11) increased its tariffs on US imports to 125 per cent, hitting back against President Donald Trump’s decision to hike duties on Chinese goods to 145 per cent. The 125 per cent tariffs, up from 84 per cent, will apply from Saturday, further raising the stakes in a trade war that threatens to upend…
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Indonesia announced a spate of concessions for US imports on Tuesday (Apr 8), including reducing taxes on electronic goods and steel, ahead of trade negotiations with Washington over President Donald Trump’s sweeping tariffs. South East Asia’s biggest economy will send a high-level delegation to the United States next week seeking a deal to ease the impact…
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BEIJING: China on Friday (Apr 4) announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The commerce ministry said it would impose additional tariffs of 34 per cent on all US goods from Apr 10. Agriculture trade took another hit as Chinese…
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The European Union has announced retaliatory trade action with new duties on U.S. industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The world’s biggest trading bloc was expecting the U.S. tariffs and prepared in advance, but the measures still place great…
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Ontario Premier Doug Ford said on Tuesday that high Canadian tariffs on U.S. goods result from the United States-Mexico-Canada Agreement negotiated by President Donald Trump during his first administration. “It was President Trump’s deal. It was the greatest deal ever. And that’s fine. Now, it’s not the greatest deal. That’s fine, too. Let’s sit down and negotiate,” Ford told…
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China responded to new U.S. tariffs by announcing Tuesday it will impose additional tariffs of up to 15% on imports of key U.S. farm products, including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies. The tariffs announced by the Commerce Ministry will take effect from March 10, though…
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We brought you reports last night on Donald Trump’s decision to raise tariffs on aluminium and steel imports into the US. Here is what we know this morning… The US president substantially raised tariffs on steel and aluminium imports to a flat 25% “without exceptions or exemptions” in a move he hopes will aid the…
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The U.S. trade deficit widened sharply in December, as imports reached an all-time high amid looming tariff threats, according to data released on Wednesday. The Commerce Department’s U.S. Census Bureau and the Bureau of Economic Analysis (BEA) announced that the goods and services deficit was 98.4 billion U.S. dollars in December, up 19.5 billion dollars,…
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Away from the White House, members of Mexico’s National Guard are heading to the US border as part of a deal agreed between Claudia Sheinbaum and Donald Trump. Mexico’s president got Trump to pause the implementation of 25% tariffs on her country yesterday after agreements were reached on border security. Sheinbaum said she was sending…
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President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. Turkey, Azerbaijan, and Malaysia have…
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Key Takeaways Beer and liquor may be recession-proof, but they’re certainly not tariff-proof. If President-elect Donald Trump follows through with proposals to impose a 25% tariff on all items from Canada and Mexico, the result would be a stiff penalty on some of America’s favorite libations, not to mention the No. 1 beer brand in the nation:…
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Key Takeaways President-elect Donald Trump’s Treasury secretary pick, Scott Bessent, was expected by some to reignite the post-election rally that led to one of the best post-election equity rallies of all time. Bessent was the consensus pick on Wall Street, which perhaps contributed to why Elon Musk called him the “business-as-usual” candidate for the job. Stocks rose after the…
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Energy companies will automatically give a £150 discount on electricity bills to low-income customers in England, Wales and Scotland this winter. The cash is being distributed under the government’s Warm Home Discount scheme. In most cases, eligible customers will automatically receive the discount from their electricity supplier. The government has confirmed: “If you’re eligible, your…
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As Donald Trump campaigns for a second term in the White House, he’s made a series of promises about revitalizing the U.S. economy. His message centers on a radical shift in trade policy, plans to eliminate taxes on tips and Social Security benefits, and a proposal to significantly reduce the corporate tax rate. Trump asserts…
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China will impose the tariff rates it has pledged under a free trade agreement (FTA) signed with Serbia on certain imports from the country, the Customs Tariff Commission of the State Council announced Thursday. The adjustment will take effect on July 1, 2024, the same day the FTA comes into force. The implementation of the…
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