A new trade deal between the U.S. and Japan heads off what could have been 25% tariffs on all Japanese-made goods, including automobiles. But the agreement nonetheless raises tariffs from the previous 2.5% to 15% which could translate into substantial price hikes on scores of vehicles imported from that Asian automotive powerhouse. The settlement, described … Read More
President Donald Trump on Sunday announced a trade agreement with the European Union that would set tariffs at 15%, ending what had been months of uncertainty surrounding trade with the United States’ largest trade partner. Announcing the agreement, Trump said the E.U. will not impose a tariff on U.S. imports. He added this agreement was … Read More
Prime Minister Mark Carney said earlier this month that a future trade agreement with the United States could include quotas on softwood lumber, an area that has caused friction between the two countries for years before the latest trade war. The American department had issued a preliminary anti-dumping rate in March of 20.07 per cent, … Read More
U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans. As part of the deal, Japan will buy 100 Boeing planes and hike defense spending with U.S. … Read More
President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia. Both agreements call for 19% tariffs on goods the US imports from the two countries, paid by American businesses, while American goods shipped … Read More
The statement was issued following a media inquiry regarding Canada’s decision to tighten tariff rate quotas on steel imports starting 1st August. Under the new rules, Canada’s Department of Finance will impose surtaxes on imports exceeding the quota limit and introduce a 25 per cent surtax on steel imports from all countries, except the United … Read More
President and CEO Bill Oplinger, who was critical of tariffs early this year, said taking advantage of that scenario would require that the Trump administration’s measures endure, not go away. Making the call to restart fourth-line production would mean spending about $100 million on equipment and the like and take about a year, he said. … Read More
The chief executive of Volvo Cars has called on the European Union to reduce its 10% tariff on American-made cars, stating that European automakers don’t need protection from U.S. competitors. “If Europe is for free trade, we should be the ones showing the way and going down to very low tariffs first,” Hakan Samuelsson said … Read More
Trump advisers argue that only tariffs can effectively address trade deficits, which, they say, reflect a plethora of nontariff barriers such as regulations and taxes that suppress consumption and imports. Yet since the 1980s, Trump has advanced a simpler rationale: Others should pay for access to the U.S. market or the protection of the U.S. … Read More
President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were coming, while offering fresh details on planned duties on pharmaceuticals. Based on Trump tariff announcements through Sunday, Yale Budget Lab estimated the U.S. effective average … Read More
