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

“Tariffs only affect imported products so we’ve moved into products that are solely made in the USA and aligned ourselves with some vendors that have some very good pricing,” he said. The company had been sourcing raw steel through a Texas supplier that relied partly on materials from Mexico and Canada. Bertrand said they changed … Read More

The duty came into force after the US withdrew from a long-standing agreement with its southern neighbour, arguing that the deal “had failed to protect US tomato growers from unfairly priced Mexican imports”. US Secretary of Commerce Howard Lutnick said that “for far too long our farmers have been crushed by unfair trade practices that … Read More

Since Mr. Trump came into office in January, the average effective U.S. tariff rate has soared to 16.6 percent from 2.5 percent, according to tracking by the Budget Lab at Yale University, a nonpartisan research center. That’s a dramatic increase compared with the president’s first term, when it rose to 2.5 percent from 1.5 percent, … Read More