Trade – Page 2 – World Top News Now

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...

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...

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. ...

7Apr

By AdminsNo Comments

ASX recovers but $100 billion still wiped out

The Australian Stock Exchange recovered slightly after a massive opening loss of $160 billion today, but has still lost $100 billion for the day as of about midday AEST. The ASX 200 fell 6.4 per cent to a 16-month low of 7177.3 after the exchange opened at 10am. At about noon, it was down 3.7 per cent at 7383.1, rebounding from that low. There are fears the ASX could face another wipeout today. (Getty) Mining companies and the big four banks were among the biggest drops, which came even after the ASX-200 opened at a 100-day low of 7453.90. Asian markets also plunged today, deepening a global stocks rout triggered by US President Donald Trump's trade war. Japan's benchmark Nikkei fell by more than eight per cent shortly after opening. The share average, ...

13Mar

By AdminsNo Comments

Canada and EU swiftly retaliate against Trump’s steel and aluminium tariffs

Major trade partners have swiftly hit back at US President Donald Trump's increased tariffs on aluminium and steel imports, imposing stiff new taxes on US goods including products from textiles and water heaters to beef and bourbon. Canada, the largest steel supplier to the US said on Wednesday (early Thursday AEDT) it would place 25 per cent reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products. Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and jeans Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and je...

3Feb

By AdminsNo Comments

Marco Rubio says Panama must reduce Chinese influence around the canal or face possible US action

US Secretary of State Marco Rubio told Panamanian President José Raúl Mulino on Sunday that the Central American ally must immediately reduce Chinese influence over the Panama Canal area or face potential retaliation from the Trump administration. Rubio, on his first foreign trip as America's top diplomat, held face-to-face talks with Mulino, who has resisted pressure from the new US government over Panama's management of a waterway that is vital to global trade. Mulino told reporters after the meeting that Rubio made "no real threat of retaking the canal or the use of force." Panama's President Jose Mulino, left, and US Secretary of State Marco Rubio. (AP) Speaking on behalf of President Donald Trump, who has demanded that the canal be returned to US control,...

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