S&P Global on Monday affirmed its “AA+” credit rating on the U.S., saying the revenue from President Donald Trump’s tariffs will offset the fiscal hit from his massive tax-cut and spending bill. “Amid the rise in effective tariff rates, we expect meaningful tariff revenue to generally offset weaker fiscal outcomes that might otherwise be associated … Read More
Bloomberg reports that sources familiar with the matter have confirmed that Cleveland-Cliffs, America’s biggest automotive steel supplier, has signed a 3-year, fixed-price contract with multiple U.S.-based automakers, including GM. This is an unusually long term for such a contract, which typically lasts one year. The 3-year contract represents a hedge for both the supplier and … Read More
The U.S. has expanded the list of goods subject to Section 232 tariffs on steel and aluminum imports, per Customs and Border Protection bulletins published Friday. In the bulletins, CBP provided lists of Harmonized Tariff Schedule codes for hundreds of products that will incur 50% tariffs upon entry into the U.S, effective Monday. The goods … Read More
Italy’s government is considering plans to curb Chinese investors’ holdings at key companies to avoid tensions with the US at a time when tariffs and a strong euro are challenging Italian exporters. Prime Minister Giorgia Meloni’s efforts would involve firms that are considered strategic, both privately held and state-controlled, Bloomberg News is reporting this week … Read More
The Port of Los Angeles, the busiest port in the US, reported the highest monthly container volume in its 117-year history for July as shippers front-load cargoes amid ongoing tariff uncertainty. Meanwhile, US and Japanese stock indexes hit all-time highs this week as the world adapts to President Trump’s trade policy. New data this week … Read More
Mexico has introduced minimum export prices for fresh tomatoes to protect domestic production and ensure internal supply, following the expiry of a bilateral agreement with the United States. The announcement was made in a joint statement by the economy and agriculture ministries. The measure comes after Washington withdrew in July from a 2019 deal regulating … Read More
A sweeping U.S. tariff policy effective August 7, 2025, targets over 90 nations with rates from 0% to 50%, aiming to push trading partners toward fairer terms. With India facing the steepest rate and the European Union under a tiered system, the move marks a significant protectionist turn, set to impact global supply chains, trade … Read More
Canada’s labour market suffered a setback in July, with the economy shedding 40,800 jobs and pushing the national employment rate down to 60.7%, its lowest level since November, Statistics Canada reported Friday. The decline erases much of June’s surprising gain of 83,000 jobs. Despite the job losses, the unemployment rate held steady at 6.9%, hovering … Read More
China’s steel exports climbed in July, continuing a record-breaking run despite growing trade barriers being thrown up by countries concerned about a flood of Chinese exports. Steel exports in July rose 1.7% from June to 9.84 million metric tons, taking total exports so far this year to 67.98 million tons, data from the General Administration … Read More
The United States began charging higher tariffs on goods from dozens of trading partners Thursday, in a major escalation of President Donald Trump’s drive to reshape global commerce in America’s favor. Shortly before the new levies kicked in, Washington separately announced it would double Indian tariffs to 50% and hit many semiconductor imports from around … Read More
