Tag: Tariffs
‘This is so hard’: The Chinese small businesses brought to a standstill by Trump’s tariffs
“Trump is a crazy man,” says Lionel Xu, who is surrounded by his company’s mosquito repellent kits – many were once best sellers in Walmart stores in the United States. Now those products are sitting in boxes in a warehouse in China and will remain there unless President Donald Trump lifts his 145% tariffs on…
Trump mulls semiconductor levies after lifting reciprocal tariffs on electronics
Luke Garrett The Trump administration is considering new semiconductor tariffs, after the White House exempted certain electronics from reciprocal tariffs. “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigation,” Trump posted on social media. Kevin Hassett, director of the National Economic Council, echoed Trump…
How Brexit, a Startling Act of Economic Self-Harm, Foreshadowed Trump’s Tariffs
Tariffs News analysis Britain’s decision to leave the European Union in 2016 was sold to voters as a magic bullet that would revitalize the country’s economy. Its impact is still reverberating. By Mark Landler Reporting from London Britain has watched President Trump’s tariffs with a mix of shock, fascination and queasy recognition. The country, after…
Trump exempts smartphones and computers from new tariffs
US President Donald Trump’s administration has exempted smartphones and computers from reciprocal tariffs, including the 125% levies imposed on Chinese imports. US Customs and Border Patrol published a notice late on Friday explaining the goods would be excluded from Trump’s 10% global tariff on most countries and the much larger Chinese import tax. The move…
For Taiwan’s Small Exporters, the Uncertainty’s as Bad as the Tariffs
Global Economy The island’s many small factories have thrived by being frugal — and flexible. But President Trump’s unpredictability is testing their limits. By Chris Buckley and Amy Chang Chien Photographs by Lam Yik Fei Chris Buckley and Amy Chang Chien spent two days interviewing export firms in Taichung, Taiwan. Since President Trump announced his…
Why Beijing is not backing down on tariffs
In response to why Beijing is not backing down to Donald Trump on tariffs, the answer is that it doesn’t have to. China’s leaders would say that they are not inclined to cave in to a bully – something its government has repeatedly labelled the Trump administration as – but it also has a capacity…
How Trump’s Auto Tariffs Are Landing in an English Car Making Town
Tariffs President Trump’s auto tariffs remain in place even after he paused many other levies. In Solihull, where Jaguar Land Rover employs 9,000 people and has suspended exports to the United States, residents are anxious. President Trump’s auto tariffs remain in place even after he paused many other levies. In Solihull, where Jaguar Land Rover…
After Trump’s Pause on Tariffs, EU Delays Retaliation to Allow Talks
Tariffs The bloc had voted to impose retaliatory measures just before President Trump made his last-minute U-turn. It has now announced a postponement. By Jeanna Smialek Reporting from Brussels E.U. officials announced on Thursday that they would delay their plans for retaliatory tariffs after President Trump’s abrupt decision to hit pause on some of the…
Asia markets soar, after President Trump pauses global tariffs
By Sherisse Pham HONG KONG – Asian markets soared on Thursday in line with Wall Street’s gains the day before, following President Trump’s announcement of a pause on his higher global tariffs. Hong Kong’s Hang Seng Index also gained 2%, while key indices in China also rose slightly. But investors are still looking to Beijing…
E.U. Officials Approve Retaliatory Tariffs Against the U.S.
Tariffs The tariffs were slated to take effect starting on April 15, and to hit back at President Trump’s steel and aluminum levies. By Jeanna Smialek Reporting from Brussels The European Union on Wednesday approved its first retaliation measures in response to President Trump’s tariffs, a plan that was thrown into uncertainty just hours later,…
US stocks make historic gains after Trump pauses some tariffs
US shares have rocketed after US President Donald Trump said he would suspend steep tariffs on goods from most countries, and instead impose a 10% import tax rate. The White House said it was backing off on higher levies for trade partners that had agreed to negotiate, although Trump said he would raise tariffs on…
Trump tariffs spark US government debt sell-off
Confidence in the US economy is plummeting as investors dumped government debt amid growing concerns over the impact of Donald Trump’s tariffs. Governments sell bonds – essentially an IOU – to raise money from financial markets for public spending and in return they pay interest. The US does not normally see high interest rates on…
As Trump hikes tariffs again, nervous businesses weigh what comes next
US President Donald Trump is ripping up the rulebook on trade that has been in place for more than 50 years. His latest round of sweeping tariffs, which came into force shortly after midnight on Wednesday, hits goods from some of America’s biggest trading partners including China and the European Union with dramatic hikes in…
Mixed messages on tariffs raises scrutiny on Trump aides
Franco Ordoñez President Trump is boasting about the wheeling and dealing he’s doing to cut deals on steep new tariffs that take effect on Wednesday. But for weeks, his own aides have insisted that tariffs were not a bargaining chip. Trump has said he wants to see manufacturing return to the United States — the…
Trump defends new tariffs. And, Supreme Court backs Trump in deportation case
By Brittney Melton here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. President Trump yesterday called for Americans to be “strong, courageous and patient” as his new, steep tariffs against countries around the world play out. Today, market shares in Europe…
Trump’s game of chicken over tariffs leaves world guessing
A day before Donald Trump’s “reciprocal” tariffs are scheduled to kick in, the US president appears locked in a high-stakes game of chicken, with the world’s economy hanging in the balance. Some nations labelled “worst offenders” are scrambling to make nice with the White House to end this game before it reaches a potentially devastating…
World markets regain some ground after Trump tariffs shock investors
By Willem Marx Shares in Europe and Asia rebounded slightly on Tuesday after several days of sustained sell-offs that saw equity markets crater since President Trump’s announcement of global trading tariffs. U.S. stock markets may now also be poised for a small jump at the start of the trading day, according to futures trading data…
Trump threatens new 50% tariffs on China
Donald Trump has threatened China with an additional tariff of 50% on goods imported into the US if it does not withdraw a countermeasure, as global markets tumbled for a third day. Speaking at the White House on Monday, the US president said that he was not considering a pause on new, wide-ranging tariffs to…
Europe Gears Up to Make Its First Countermove to Trump Tariffs
Tariffs European Union officials will vet and vote on a list of retaliatory tariffs this week, while contemplating what comes next. By Jeanna Smialek Reporting from Belgium European Union officials on Monday were set to circulate a list of products they plan to hit with retaliatory tariffs, a major step toward striking back at President…
UK to relax electric car rules as US tariffs hit
The government has announced a relaxation of electric vehicle (EV) sales targets to help the car industry in the face of trade tariffs from the US. A ban on producing new petrol and diesel cars will still come into effect in 2030, but manufacturers will now have more flexibility on annual targets and face lower…
How PM might tackle impact of Trump tariffs
Prime Minister Sir Keir Starmer said on Sunday he was prepared to use industrial policy to “shelter British business from the storm” expected from US President Donald Trump’s recent wave of tariffs. A 10% “baseline” tariff on all imports into the US and a 25% tariff on car imports have now come into effect. But…
Defiant Trump officials vow to stay course as countries scramble over tariffs
US President Donald Trump’s advisers have defended sweeping tariffs on imports and vowed to stay the course, despite market turmoil and calls to avoid a trade war. In a series of television interviews, Treasury Secretary Scott Bessent played down recent stock market falls and Howard Lutnick, the commerce secretary, insisted reciprocal tariffs would be implemented…
Trump’s Tariffs Will Wound Free Trade, but the Blow May Not Be Fatal
Tariffs Analysis Free trade has been so beneficial to so many countries that the world may find a way to live without its biggest player. By Mark Landler Reporting from London President Trump’s self-proclaimed “liberation day,” in which he announced across-the-board tariffs on the United States’ trading partners, carries an echo of another moment when…
How automakers are responding to the 25% car tariffs so far
Emma Bowman President Trump’s 25% tariffs on imported cars took effect on Thursday. The import tax has already triggered big moves by automakers, from layoffs to pauses in car shipments to delayed price hikes. As a result, industry analysts expect consumers to see higher car prices, and some buyers have been rushing to the dealerships…
Starmer’s response to Trump tariffs is both to slow down and go faster
Prime Minister Sir Keir Starmer watched in his flat. Chancellor Rachel Reeves saw it in her study. The Business Secretary Jonathan Reynolds, accompanied by staff and pizza, took in President Donald Trump’s big tariffs reveal on Wednesday from his office in Old Admiralty Arch, from where the British Navy was directed to protect and control…
Trump’s tariffs have shaken the markets – how worried should we be?
As stock markets continue to tumble after the US imposition of sweeping and swingeing tariffs, many are asking does this qualify as a stock market “crash” and what that could mean for them. The word crash has been used sparingly over the decades and is usually reserved for a fall of over 20% from a…
Worst week for US stocks since Covid crash as China hits back on tariffs
Stock market turmoil deepened on Friday, as China hit back at tariffs announced by Donald Trump, raising the likelihood of an extended trade war and damage to the global economy. All three major stock indexes in the US plunged more than 5%, with the S&P 500 dropping almost 6%, bringing to an end the worst…
What Will Trump’s Tariffs Do to EU-China Trade Relations?
Tariffs The European Union is deepening other trade partnerships as U.S. relations sour. But with China, the relationship could get closer — or more combative. By Jeanna Smialek Reporting from Brussels President Trump’s tariffs mean that companies across the European Union and around the world are at risk of losing access to the world’s largest…
Stocks sink in another brutal day, as Trump’s tariffs send global shockwaves
By Maria Aspan Wall Street is not Main Street — but this week, investors and consumers alike seem terrified of how President Trump’s tariffs could upend the global economy. The pain continued for U.S. stocks on Friday, a day after the stock market suffered its worst day in five years. Late on Friday morning, the…
‘Only job I know’: tiny Lesotho’s garment workers reel from Trump’s 50% tariffs
Impoverished African country is hit with highest tariff rate, overturning decades of global trade policy The day after Donald Trump announced sweeping global tariffs, Lesotho’s garment workers feared for their jobs. Last year, Lesotho sent about 20% of its $1.1bn (£845m) of exports to the US, most of it clothing under a continent-wide trade agreement…
Chris Mason: Tariffs are yet another example of colossal, upending change
A week ago, Westminster was digesting the chancellor’s Spring Statement and all the talk was of a tightrope walk and precarious public finances. Next, let’s go back nearly two decades to the financial crisis and the historically poor growth and negligible average earnings growth that has afflicted the UK ever since. And then recall the…
Canada to counter ‘unjustified’ US tariffs with 25% taxes on US cars, says Carney
Canadian prime minister says country will impose taxes on US vehicles not compliant with continental free trade deal Canada will retaliate against “unjustified, unwarranted” tariffs imposed by the United States with a 25% tax on US vehicles, says Mark Carney. On Wednesday, Donald Trump announced wide-ranging tariffs on dozens of countries, but did not add…
The Uninhabited Heard and McDonald Islands, Targeted by Tariffs, Are a Biological Wonderland
Trump’s tariffs put a spotlight on the uninhabited Heard and McDonald Islands, which comprise a remote volcanic refuge for penguins and seals and a UNESCO World Heritage site By Andrea Thompson edited by Dean Visser A handout photo taken on November 21, 2012 and released on October 8, 2024 by the Australian Antarctic Division shows…
Steepest drop for US stocks since 2020 as China and EU vow to hit back on Trump tariffs
Global stocks have sunk, a day after President Donald Trump announced sweeping new tariffs that are forecast to raise prices and weigh on growth in the US and abroad. The S&P 500, which tracks 500 of the biggest American firms, plunged 4.8% – its worst day since Covid crashed the economy in 2020. Nike, Apple…
How were Trump’s tariffs calculated?
US President Donald Trump has imposed a 10% tariff on goods from most countries being imported into the US, with even higher rates for what he calls the “worst offenders”. But how exactly were these tariffs – essentially taxes on imports – worked out? BBC Verify has been looking at the calculations behind the numbers.…
Markets in Asia and Europe fall following U.S. announcement of global tariffs
By The Associated Press BANGKOK — Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump ‘s announcement of big increases in tariffs on imports of goods from around the world. The double-digit tariff hikes sent shivers across world markets, as economists warned it raises the risk of recession.…
Asian countries riven by war and disaster face some of steepest Trump tariffs
Myanmar, Cambodia and Laos hit with rates over 40% as experts say the real target is China Developing nations in south-east Asia, including wartorn and earthquake-hit Myanmar, and several African nations are among the trading partners facing the highest tariffs set by Donald Trump. Upending decades of US trade policy and threatening to unleash a…
The countries hit hardest by new US tariffs – the plan at a glance
US President Donald Trump announced a sweeping new set of tariffs on Wednesday, arguing that they would allow the United States to economically flourish. These new import taxes, which Trump imposed via executive order, are expected to send economic shockwaves around the world. But the US president believes they are necessary to address trading imbalances…
With Trump’s Tariffs, the Chasm Between Allies and the U.S. Widens
Tariffs President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout. By Jeanna Smialek and Natalie Kitroeff Jeanna Smialek reported from Brussels and Natalie Kitroeff from Mexico City. President Trump’s announcement of sweeping tariffs on America’s trading partners has widened the rift between the United States and…
Trump set to announce new round of tariffs on his so-called ‘liberation day’
President’s plans have rattled global stock markets and triggered heated rows with US’s largest trading partners Donald Trump will announce his latest round of tariffs at the White House on Wednesday, threatening to unleash a global trade war on what he has dubbed “liberation day”. Trump has rattled global stock markets, alarmed corporate executives and…
Today is Trump’s ‘Liberation Day.’ What does that mean for tariffs?
Danielle Kurtzleben On Wednesday, President Trump is set to unveil what he has been calling “reciprocal tariffs” — taxes on imported goods from a broad range of countries aimed at penalizing them for their trade barriers. It’s a push he is branding as “Liberation Day,” promising it will bring in foreign tariff revenues to be…
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.