The European Commission on Tuesday announced plans to nearly halve the amount of duty-free steel imports, to 18.3 million tonnes per year, while sharply increasing levies on foreign steel falling outside of set quotas to 50%. The new regime, which is set to replace existing steel safeguards due to expire in June next year, would … Read More
U.S. imports of containerized goods in September fell 8.4% from the year earlier, including a 22.9% drop in goods from China, amid ongoing trade ructions from President Donald Trump’s tariff policies, data released on Thursday showed. U.S. seaports handled 2.31 million 20-foot equivalent units (TEUs) of container cargo last month, the third-highest September volume on … Read More
The US economy is withstanding the impact of record protectionism better than expected, the International Monetary Fund said as it prepares its latest assessment of President Trump’s tariffs. Kristalina Georgieva, managing director for the IMF, said on Wednesday that the world’s largest economy had “held up” despite fears that record levels of tariffs on goods … Read More
Some non-U.S. companies have said they are looking at expanding their presence or setting up shop in the United States to mitigate the impact of President Donald Trump’s tariffs on imported goods. Below are some of the plans flagged by those companies. The French industrial gases company flagged an up to $200 million investment in … Read More
Overall, these tariffs help stimulate the economy. If the foreign competition has more barriers of entry, it lends itself nicely to increase domestic manufacturing which in turn creates more jobs and reduces our trade deficit. New Balance, a company that prides itself on manufacturing in the U.S., completed a $65 million expansion to its Skowhegan … Read More
President Donald Trump on Tuesday announced an agreement with Pfizer to voluntarily sell its medications for less, as his administration pushes to link U.S. drug prices to cheaper ones abroad. Pfizer has agreed to take measures to reduce U.S. drug prices, including selling its existing drugs to Medicaid patients at the lowest price offered in … Read More
Japan’s export volume to the U.S. has fallen to the weakest level since 2021 while its overall exports remain above the 2024 average, Marcel Thieliant, head of Asia-Pacific at Capital Economics, said in a note on Thursday, citing recent data from the Bank of Japan. “What is becoming increasingly clear, though, is that firms are … Read More
The 100% tariff on branded pharmaceuticals that will go into effect on Oct. 1 sounds dramatic. Especially at a time when middle-class complaints about drug prices are a salient political issue and Trump is promising to bring them down. But the new tariff contains a big carveout for any firm with US manufacturing facilities and … Read More
The United States is widening the reach of its trade blacklist, making it harder for subsidiaries and affiliates of certain companies to access American products — a move set to hit Chinese businesses, among others. The Department of Commerce’s notice said the latest shift aims to “address diversion concerns,” such as the formation of new … Read More
Halloween is a month away, yet retailers have had their merchandise out since late August with the hopes that consumers buy early. The National Retail Federation (NRF) found 49% of consumers started their shopping earlier than normal. When all the receipts are tabulated, the trade group predicts consumers will spend $13.1 billion this year on … Read More
