Tag: Tariffs
UK expects to be hit by Trump tariffs, No 10 says
The UK is expecting to be hit by new US tariffs on Wednesday, with Downing Street indicating a deal to exempt British goods will not be reached in time. US President Donald Trump has said new 25% tariffs – or import taxes – on cars and car parts will come into effect on 2 April.…
‘It’s going to get worse’: American car buyers brace for sweeping auto tariffs
For two years, Jeannie Dillard has saved what she can on her fixed income to replace the vehicle that was stolen from her home and found totalled a few miles away. She looked around a used car dealership in Virginia on Thursday, peering at sticker prices with a newfound worry: blanket tariffs on foreign cars…
End of an era for Canada-US ties, says Carney, as allies worldwide decry Trump’s car tariffs
Canadian PM says Donald Trump has permanently altered relations, as countries around the globe insist import taxes are harmful to all, including Washington Canada’s prime minister has said the era of deep ties with the US “is over”, as governments from Tokyo to Berlin to Paris sharply criticised Donald Trump’s sweeping tariffs on car imports,…
Rattled by Trump, America’s Allies Shift to Defense Mode on Tariffs
Tariffs News Analysis The new auto tariffs are straining relations with U.S. allies and deepening doubts about America’s reliability as a partner. By Damien Cave and Steven Erlanger Damien Cave often covers global affairs. He is based in Vietnam. Steven Erlanger has been covering European diplomacy and trade for decades, and is based in Berlin.…
Donald Trump announces new 25% tariffs on cars from overseas
Canada’s prime minister, Mark Carney, describes the levies as a ‘direct attack’ and vows to defend Canadian workers and companies Donald Trump announced plans to impose sweeping 25% tariffs on cars from overseas on Wednesday, days before the US president is expected to announce wide-ranging levies on other goods from around the world. “What we’re…
Trump announces 25% tariffs on car imports to US
US President Donald Trump has announced new import taxes of 25% on cars and car parts coming into the US in a move that threatens to widen the global trade war. Trump said the latest tariffs would come into effect on 2 April, with charges on businesses importing vehicles starting the next day. Charges on…
India is hoping its manufacturing industry will profit from Trump’s tariffs on China
Diaa Hadid Here in the southern state of Tamil Nadu, many seek work at one company: FoxConn, which manufactures iPhones for Apple. Women make up some 70% of the Sriperumbudur plant’s workforce. Twenty-one-year-old Keerthana, who only has one name, was sleepily waiting for a bus to the FoxConn dormitory housing women employees. She’d arrived in…
How Tariffs Work—And What Economic Studies Show about Their Real Impact
The Science behind Tariffs and How They Work President Donald Trump is threatening steep tariffs on virtually all imports. Here’s what that means and what economics research suggests would be the impact By Meghan Bartels edited by Jeanna Bryner Container port, Shenzhen, China. Confusion over tariffs has largely shaped the first months of President Donald…
‘Trump tariffs are reshaping our politics’: Canadians on their election
Voters reflect on their priorities and mood shifts in their communities before a crucial contest When the Canadian prime minister, Justin Trudeau, resigned in early January, after months of pressure to quit, the approval ratings of the progressive firebrand had dropped from their peak of 65% in September 2016 to 22%. At the end of…
Trump Tariffs Leave No Country Room for Exemptions, U.S. Tells Canada
Tariffs In talks aimed at finding common ground on tariffs, Canadian officials were told April 2 will be a crucial day in setting the Trump tariff doctrine, and any relief could come later. By Matina Stevis-Gridneff Reporting from Charlevoix, Quebec Top U.S. representatives told a Canadian delegation on Thursday that there was no way Canada,…
Europe Retaliates Against Trump’s Tariffs as Trade Fight Widens
Tariffs The European Union responded to American steel and aluminum tariffs with its own tariffs on boats and bourbon — and pledges of more to come. By Jeanna Smialek Reporting from Brussels European Union leaders have been clear that they want to negotiate with the United States on trade to avoid a full-blown conflict. But…
From Mexico cartel safe house to US streets: BBC tracks deadly fentanyl targeted by Trump tariffs
The fentanyl dealer from Los Angeles stands to the side watching carefully as a Mexican drugs cartel operative prepares his latest shipment. The synthetic opioid drug is wrapped in foil, sealed in plastic, then dropped with an oily splash into the petrol tank of the trafficker’s nondescript car. Jay, not his real name, had crossed…
Canada announces retaliatory tariffs on nearly $30bn worth of US imports
Canadian government says it will follow ‘dollar-by-dollar’ approach and institute 25% tariffs on US imports Canada announced retaliatory tariffs on nearly $30bn worth of American imports after US tariffs on steel and aluminum imports went into effect on Wednesday. The Canadian government said it will be following a “dollar-by-dollar” approach and institute 25% tariffs on…
Trump raises Canadian steel and aluminum tariffs to 50% as trade war escalates
President cites Ontario’s recent imposition of 25% surcharge on electricity exports to US as reason for doubling duties Donald Trump has announced he is doubling tariffs on Canadian steel and aluminum from 25% to 50% as a retaliation for the province of Ontario’s imposition of a 25% surcharge on electricity exports to several US states,…
Trump announces double tariffs on Canadian steel and aluminum
Danielle Kurtzleben The day before steel and aluminum tariffs are set to go into effect, President Trump announced he would specifically set tariffs on Canadian steel and aluminum at double the rate of the rest of the world. “I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all…
Trump expands exemptions from Canada and Mexico tariffs
US President Donald Trump has signed orders significantly expanding the goods exempted from his new tariffs on Canada and Mexico. It is the second time in two days that Trump has rolled back his taxes on imports from America’s two biggest trade partners, measures that have raised uncertainty for businesses and worried financial markets. On…
As U.S. Tariffs Become Reality, Canadians Prepare for Economic Pain
Tariffs An expert in the automotive industry says factories may shut down in days as costs skyrocket and President Trump disrupts decades of economic integration with steep tariffs. By Ian Austen and Vjosa Isai Ian Austen reported from Windsor, Ontario, and Vjosa Isai reported from Toronto The trucks that carry about $300 million worth of…
Trump could water down tariffs on Canada and Mexico
President could strike deal to provide ‘relief’, US commerce secretary says, amid warnings of price increases for US consumers Donald Trump is weighing plans to water down sweeping US tariffs on goods from Canada and Mexico, according to a senior official, one day after an economic strike on the US’s two biggest trading partners sparked…
US consumers warned to brace for higher prices due to Trump’s tariffs
Retailers predict prices ‘highly likely’ to rise almost immediately after 25% duty came into effect on exports from Mexico Americans have been warned to brace for higher prices within days after Donald Trump pulled the trigger on Monday and imposed US tariffs on goods from Canada and Mexico, and hiked tariffs on China. Global stock…
Canada, China say fentanyl crisis is only a “pretext” for Trump’s new tariffs
Brian Mann Officials in Canada and China are blasting the Trump administration for using illegal street fentanyl as justification for new trade tariffs that go into effect today. In a statement, Canadian Prime Minister Justin Trudeau called Trump’s criticism “unjustified,” noting that fentanyl seizures at the U.S. northern border have dropped to “near-zero.” “While less…
Markets sink as Trump confirms tariffs on Canada, Mexico and China
President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal. US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.…
How Trump’s Canada Tariffs Could Impact Both the U.S. and Canada
Tariffs President Trump’s plan to apply 25 percent tariffs on Canadian exports is set to start on Tuesday. They would deal a brutal blow to Canada’s economy. By Ian Austen Reporting from Ottawa It is not an exit anyone would have expected. Justin Trudeau will end his final days as Canada’s prime minister with the…
UK-US trade deal could mean tariffs ‘not necessary’, says Trump
A trade deal between the US and UK could happen “very quickly”, President Donald Trump said at a joint press conference with Sir Keir Starmer. Speaking during the prime minister’s visit to the White House, Trump envisaged “a real trade deal” which could see the UK avoid the kind of tariffs the president has been…
Canada and Mexico tariffs risk inflating US housing crisis, Trump is warned
Exclusive: Dozens of congressional Democrats urge president to reconsider threatened import duties on US’s two largest trading partners Pressing ahead with steep tariffs on Canada and Mexico risks exacerbating the US housing crisis and threatening the broader economy, dozens of congressional Democrats have warned Donald Trump. The US president, after threatening to hit imports from…
Vance to attend international AI and security summits as Ukraine war and tariffs loom
By Willem Marx U.S. Vice President JD Vance has arrived in France as part of a European trip that will focus the new Trump administration’s attention on the regulation of artificial intelligence and the war in Ukraine, as Vance plans meetings with world leaders ranging from French President Emmanuel Macron to Indian Prime Minister Narendra…
Trump says he will announce raft of new trade tariffs
President Donald Trump has said he will announce a 25% import tax on all steel and aluminium entering the US, a move that will have the biggest impact in Canada. Trump also said that there would be an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US,…
Why Trump blinked before imposing his ‘beautiful’ tariffs on Canada and Mexico
Trump has teased two of the US’s biggest trading partners with levies but has moved the goalpost at least three times in two weeks Donald Trump was in his element in the Oval Office this week. Surrounded by cameras, flanked by billionaire allies and confronted by a barrage of questions about whether he was really…
Trump Tariffs’ Potential Clean Energy Effects Explained
Trump Tariffs Spark Fears of Clean Energy Supply Chain Chaos President Trump’s new tariffs on Canada, Mexico and China could hit the electric vehicle, solar, battery and wind industries particularly hard By Benjamin Storrow & E&E News The president’s new tariffs on Canada, Mexico and China could hit the solar, battery, wind and electric vehicle…
Trump agrees to pause tariffs on Canada and Mexico but not on China
President Donald Trump has agreed to hold off imposing 25% tariffs on Canada and Mexico for 30 days, pulling the North American neighbours back from the brink of a potentially damaging trade war. After last-minute calls with Trump, Canadian Prime Minister Justin Trudeau agreed to reinforce his country’s border with the US to clamp down…
How could Trump’s tariffs affect the UK?
Donald Trump has been unclear about whether he will impose tariffs on the UK but economists warn there are still ways Britain could be negatively affected by the president’s wider trade policies even if it avoids being hit directly. The impact could be felt through slower growth in some of the UK’s important trading partners.…
Six things that could get more expensive for Americans under Trump tariffs
US President Donald Trump has sparked a trade war by declaring he will impose tariffs on imports from his country’s neighbours Canada and Mexico. Canada has said it will retaliate in kind. Mexico also pledged to hit back, although US tariffs on that country have now been paused for a month. The three countries have…
Across Border From Detroit, Bafflement and Anger Over U.S. Tariffs
Global Economy Global Economy Global Economy Windsor, the heart of Canada’s auto industry, had been on the upswing. Now people feel betrayed by a neighbor, fearing that factories will close. A glimpse of Detroit on Friday, across the river from Windsor, Ontario. By Ian Austen Photographs by Ian Willms Reporting from Windsor, Ontario Not long…
Toronto Raptors fans boo US national anthem after Donald Trump tariffs
Fans at a Toronto Raptors game on Sunday continued an emerging trend of booing the American national anthem at sporting events in Canada. Fans of the NBA’s lone Canadian franchise booed the US anthem before the Raptors’ game against the Los Angeles Clippers at the Scotiabank Arena in downtown Toronto. Similar reactions broke out on…
Trump says EU tariffs will ‘definitely happen’ as Mexico, Canada and China retaliate
Trump takes softer line on UK, saying ‘I think that one can be worked out’, while Mexico and Canada vow levies and to strengthen ties with each other Donald Trump has threatened to widen the scope of his trade tariffs, repeating his warning that the European Union – and potentially the UK – will face…
Trump used fentanyl to justify tariffs, but the crisis was already easing
Brian Mann President Trump says illegal street fentanyl is one of the main justifications for sweeping trade tariffs he plans to impose against Canada, China and Mexico on Tuesday. A statement issued by the White House describes the synthetic opioid as fueling a “national emergency” that warranted tough action. Experts say the reality is far…
Canadian fans boo US anthem as tariffs spur ‘buy local’ pledge
A few hours after President Donald Trump announced that he would impose steep tariffs on Canada, hockey fans in the capital Ottawa booed the Star-Spangled Banner during a National Hockey League game against a visiting US team. On Sunday, during a National Basketball Association game between the Toronto Raptors and the Los Angeles Clippers, it…
Wall Street Journal editorial calls Trump tariffs ‘dumbest trade war in history’
Some US business leaders have reacted neutrally, while JP Morgan CEO says tariff threats can be used effectively US business leaders are offering a mixed reaction to steep trade tariffs that Donald Trump’s administration has imposed on Canada, Mexico and China, as the editorial board of the Wall Street Journal called it “the dumbest trade…
What are tariffs, who pays them, and could they hurt US consumers?
Donald Trump has imposed new tariffs on goods entering the US from Canada, Mexico and China. The US president signed an executive order putting a 25% tariff – or tax on imports – on all goods coming from Canada and Mexico, to get both countries to crack down on illegal immigration and drug trafficking. Goods…
How world responds to Trump’s tariffs is what matters next
It was not a bluff, the tariffs are here – and this is just the opening salvo from the Oval Office. The world trading system has not been here before. A slide towards a wider trade conflict is very much on the cards, as President Trump prepares similar tariffs firstly against Europe, and then at…
Trump imposes tariffs but Canada and Mexico hit back
US President Donald Trump has announced sweeping new tariffs on all goods imported from America’s three largest trading partners, China, Mexico and Canada. Trump said the US would impose tariffs beginning on Tuesday of 25% on Canada and Mexico, and 10% on China. Canadian energy faces a lower 10% tariff. He had threatened to impose…
Canada will bring ‘forceful but reasonable’ retaliation to Trump tariffs, Trudeau says
White House has claimed goods shipped from Canada and Mexico to the US would face a 25% levy starting Saturday Justin Trudeau says Canada will bring a “forceful but reasonable” retaliation to any tariffs imposed by the US as his country braces for the economic fallout of a trade war. “I won’t sugarcoat it –…
Trump to impose tariffs on imports from Canada, Mexico and China
US neighbors hit with 25% tariff and China with 10% as Trudeau pledges ‘forceful but reasonable’ response Donald Trump has vowed to impose sweeping tariffs on Canada, Mexico and China starting this weekend, potentially setting the stage for a damaging trade war between the US and three of its biggest trading partners. Trump also threatened…
Biggest US trading allies brace for a ‘game of chicken’ with Trump’s tariffs
Canada and Mexico draw plans to mitigate effect of duties Trump has threatened, possibly sparking a trade war America’s biggest trading partners are bracing for Donald Trump to impose sweeping tariffs on their exports after the US president repeated his threat to hit Canada and Mexico with new duties. Officials in Ottawa and Mexico City…
Trump Hits Colombia With Tariffs in Feud Over Military Deportation Flights
Trump Administration Gustavo Petro said the United States should not treat Colombian migrants as criminals and that he had already turned away U.S. military flights carrying deportees. By Genevieve GlatskySimon Romero and Annie Correal Genevieve Glatsky reported from Bogotá, Colombia, and Simon Romero and Annie Correal from Mexico City. Colombia refused to accept U.S. military…
How Trump’s Tariffs Could Affect the U.S., Canada and Mexico
Trump Administration Trump Administration Trump Administration While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners. By Matina Stevis-GridneffAna Swanson and Simon Romero Matina Stevis-Gridneff reported from Toronto, Ana Swanson from Washington and Simon Romero from Mexico City. Decades of trade integration…
How Mexico Is Preparing for Tariffs Negotiations With Trump
President Claudia Sheinbaum is detaining more migrants, seizing more fentanyl and positioning her country as a key ally against China. But the U.S. stance has shifted, too. By Simon Romero Reporting from Mexico City For the second time in less than decade, Mexico is preparing to negotiate with President-elect Donald J. Trump, who is threatening…
Ontario leader warns of ‘pain’ for US if Trump moves forward with tariffs on Canada
Premier of most populous province says rhetoric clouds trade relationship worth hundreds of billions of dollars The United States will “feel pain” if Donald Trump doesn’t back down from his threat to impose steep tariffs on its northern neighbour, the leader of Canada’s most populous province has warned. After a tumultuous week that left Canadian…
Trump considers declaring national economic emergency to impose tariffs
Move would allow president-elect to implement broad tariffs after threatening Panama, Greenland and Canada Donald Trump is mulling over the idea to declare a national economic emergency to impose widespread tariffs, CNN reports, as the president-elect escalates threats to seize the Panama Canal, acquire Greenland and force Canada into becoming a US state. The emergency…
Trump threatens ‘very high’ tariffs on Denmark over Greenland
US President-elect Donald Trump has threatened “very high” tariffs on Denmark if it resists his effort to take control of Greenland, an autonomous Danish territory. Asked during a news conference Tuesday if he would rule out using military or economic force in order to take control of the strategically-important island, he said: “No, I can’t…
China’s yuan hits 16-month low amid fears over Trump tariffs
CSI 300 blue-chip stock index also trades weakly, hitting its lowest point since September China’s currency hit a 16-month low on Monday, despite efforts by the central bank and stock exchanges to soothe investor worries about impending US tariffs under a Donald Trump presidency. The tightly controlled yuan reached 7.3301 per US dollar, its weakest…
Canadian Ministers Meet Trump Aides at Mar-a-Lago to Discuss Border, and Tariffs
Trump Transition President-elect Donald J. Trump has threatened to impose tariffs on Canadian exports unless the country stops the flow of migrants and fentanyl to the U.S. By Ian Austen and Lisa Friedman Ian Austen reported from Ottawa, and Lisa Friedman from West Palm Beach, Fla. Two top Canadian ministers met on Friday with members…
International News Highlights
Israel and Lebanon are reportedly close to reaching a ceasefire agreement, according to international sources. U.S. President Joe Biden and French President Emmanuel Macron are expected to announce the agreement within the next 36 hours. The Israeli government will vote on the truce this Tuesday.