Monday, October 26

Tag: Trade War

24Oct By AdminsNo Comments

White House lifts tariffs on some Canadian goods as midterm elections loom

Getty Images Canada and the US are currently locked in a tit-for-tat trade war The Trump administration is lifting some of its 50% tariffs on Canadian goods two weeks before the midterm elections, after a Republican candidate in a key Senate race said she had lobbied for the change. Starting on 30 October, tariffs will be eased on products including "plywood sheets, some paper products, certain machinery and refrigeration equipment," the White House said on Friday. Republican Senator Susan Collins, who is in a tight race to keep her seat in Maine, first announced the exemptions, saying they would help her state's agriculture industry. The US imposed a 50% levy on $20bn (£15bn) of Canadian goods after trade talks between the two countries col...
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28Jul By AdminsNo Comments

Australia faces nervous wait as Trump’s tariff deadline looms

Australia is no closer to learning whether it will be hit by a higher tariff by the United States, despite President Donald Trump saying he'll be handing down fresh duties later this week. The so-called "reciprocal" tariffs were paused for 90 days, and the White House has recently announced deals with a slew of partners, including the UK, China, Vietnam, Indonesia, the Philippines, Japan and, as of this morning, the European Union. However, an Australian deal is yet to be announced ahead of the pause expiring on Friday. Donald Trump's tariffs have caused uncertainty in financial markets. (Getty) Australia is currently subject to a baseline 10 per cent tariff, but what that figure will be as of Friday is unclear. Trump said last week he would be sending out lett...
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11Jul By AdminsNo Comments

Trump promised 200 deals by now. He’s got three, and one more is getting very close

At the conclusion of his first 100 days in office in late April, US President Donald Trump made a stunning statement about his progress on tariff negotiations: He had completed trade deals with 200 countries. More than two months later, Trump has announced just three of those agreements – with China, the United Kingdom and Vietnam. So what happened? President Donald Trump speaks to members of the press during a Cabinet Meeting at the White House on July 8. (Andrew Harnik/Getty Images via CNN Newsource) Wednesday marked the day that Trump had set three months ago as a deadline for all countries to reach a deal or face higher "reciprocal" tariffs. Trump has since publicly acknowledged that pausing those "Liberation Day" tariffs until July 9 left insufficient time...
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11Jul By AdminsNo Comments

Trump threatens 35 per cent tariffs on Canada, Australia’s could double

US President Donald Trump has threatened a 35 per cent tariff on goods imported from Canada, a dramatic escalation in an on-again, off-again trade war with America's northern neighbour and one of its most important trading partners. "Starting August 1, 2025, we will charge Canada a Tariff of 35 per cent on Canadian products sent into the United States, separate from all Sectoral Tariffs," Trump wrote in a letter posted to social media. NBC News also reported Thursday that Trump told Meet the Press moderator Kristen Welker that the remaining US trading partners that have not yet received trade letters or reached framework agreements will be charged a blanket tariff rate. President Donald Trump has pledged a 35 per cent tariff on Canadian imports to the US. (AP) The let...
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10May By AdminsNo Comments

As US and China begin trade talks in Geneva, Trump’s tariff hammer looks less mighty than he hoped

The way US President Donald Trump sees it, beating China in a trade war should be easy. After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore, they have more to lose. Inflict enough pain – like the combined 145 per cent taxes he slapped on Chinese imports last month – and they'll beg for mercy. Trump's treasury secretary, Scott Bessent has confidently compared Beijing to a card player stuck with a losing hand. "They're playing with a pair of twos,'' he said. US President Donald Trump speaks at an event for Military Mothers, Thursday, May 8, 2025, in the East Room of the White House in Washington (AP Photo/Jacquelyn Martin) Somebody forgot to tell China. So far, the Chinese have refused to fold un...
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7Apr By AdminsNo Comments

Tariffs will make sneakers, jeans and almost everything Americans wear cost more, trade groups warn

Sending children back to school in new sneakers, jeans and T-shirts is likely to cost US families significantly more this fall if the bespoke tariffs President Donald Trump put on leading exporters take effect as planned, American industry groups warn. About 97 per cent of the clothes and shoes purchased in the US are imported, predominantly from Asia, the American Apparel & Footwear Association said, citing its most recent data. Walmart, Gap Inc., Lululemon and Nike are a few of the companies that have a majority of their clothing made in Asian countries. A worker sews a garment at Pro Sports factory in Nam Dinh province, Vietnam (AP) Those same garment-making hubs took a big hit under the president's plan to punish individual countries for trade imbalances. ...
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