MKC makes its knives in the U.S., but must rely on imported steel. Smith would prefer to buy American-made steel, but New York–based Crucible Industries — the country’s last major steelmaker — declared bankruptcy in December. It was later bought for $17.3 million by French company Erasteel. “Every other material we use is sourced in … Read More
This move now ensures that goods from all over the world are no longer able to enter the U.S. market duty-free and without inspection under the $800 threshold. Closing de minimis means that commercial shipments from overseas vendors must enter the United States through standard customs procedures, submit full import documentation, and pay applicable duties … Read More
Prices on a wide array of European consumer products are set to rise beginning Aug. 1, now that a EU-U.S. trade deal is in place, including a 15% tariff duty on EU exports to the United States. From food to fashion, watches to wine and autos to appliances, few product categories are spared. On the … Read More
An hour from Toronto, downtown Oshawa seems to exude the vibe of a pleasant small town. But signs of economic stress are multiplying in the place that once fashioned itself as Canada’s motor city. Lines form early outside the food bank on Simcoe Street where customers load strollers with pasta and bags of bread. Homeless … Read More
“In 2024, U.S. manufacturing reshoring and foreign direct investment (FDI) remained strong, driven by companies seeking to shorten supply chains, reduce exposure to geopolitical risks, and avoid costs associated with impending tariffs,” says the report. After peaking in 2022 with almost 350,000 announced new jobs from reshoring or FDI, the numbers have slipped to almost … Read More
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
