From Italy to Brazil, Trump’s new tariffs stir uncertainty
President Trump’s sweeping tariffs are spreading economic anxiety.
Tag: tariffs
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New tariffs snap into effect, raising import taxes to highest level since Great Depression
After months of delays and extensions, President Donald Trump’s comprehensive and sweeping tariffs slate took effect Thursday just after midnight ET, shifting his global trade reset into high gear. Most imports into the United States will now face a baseline 10% duty, with the overall average effective tariff rate rising to more than 17% —…
Trump’s new tariffs take effect in trade war escalation
US President Donald Trump’s sweeping new tariffs on countries around the world have come into effect in an escalation of his trade war. “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!,” Trump said on social media minutes before the midnight deadline in Washington, DC. Earlier, the president…
Honda Motor quarterly profit halves, missing estimates as U.S. auto tariffs bite
A sign marks the location of a Honda dealership in Libertyville, Illinois, on Dec. 18, 2024. Scott Olson | Getty Images Japanese auto giant Honda‘s first-quarter operating profits fell 50% year over year on Wednesday, missing estimates due to U.S. auto tariffs and a stronger yen. Here are Honda’s results compared with the mean estimates…
Trump threatens 50% tariffs on India for buying Russian oil
US President Donald Trump has issued an executive order hitting India with an additional 25% tariff over its purchases of Russian oil. That will raise the total tariff on Indian imports to the United States to 50% – among the highest rates imposed by the US. The new rate will come into effect in 21…
Canada’s U.S. trade minister says country is “obviously disappointed” by Trump tariffs
Canada’s U.S. trade minister Dominic LeBlanc told “Face the Nation with Margaret Brennan” that while the country was disappointed that President Trump has levied a 35% tariff, “We believe there is a great deal of common ground between the United States and Canada in terms of building two strong economies that work well together.” He…
Trump tariffs to slam South Africa
Trade minister Parks Tau South Africa faces a 30% tariff on its exports to the US starting next week, a move expected to cost tens of thousands of jobs after the country failed to secure a trade deal before a deadline set by US President Donald Trump. In an executive order on Thursday, Trump slapped…
Trump fires BLS head as tariffs cause stock market drop
Natalie Sherman Business reporter, in New York Watch: Trump defends firing of Bureau of Labor Statistics head over “wrong” numbers US President Donald Trump said he would fire the head of the agency charged with publishing some of America’s most closely watched economic data, after a weaker-than-expected jobs report stoked further alarm about his tariff…
Apple cites tariffs as major cost, posts strong revenue
During a recent earnings call, Apple CEO Tim Cook revealed that tariffs imposed by the Trump administration could add an estimated $1.1 billion to the company’s costs in the September quarter. This comes after Apple reported spending $800 million on tariffs in the June quarter, which was slightly less than the $900 million it had…
Africa: Trump Tariffs – D-Day for South Africa and Its Economic Relations With the US
With the 1 August deadline upon us and no trade agreement yet, experts agree that relations between South Africa and the US would need a reset and cool heads to negotiate. With hours to go before US President Donald Trump’s tariffs are expected to come into effect, South Africa announced “urgent interventions” to support exporters…