US president says EU 'not complying' with current trade deal; launches latest tariffs amid global economic uncertainty.
US President Donald Trump said on Friday that he would increase the tariffs charged on cars and trucks from the European Union next week to 25 per cent, a move that could jolt the world economy at a fragile moment. Trump said in the post that the EU “is not complying with our fully agreed to Trade Deal”, though he did not flesh out his objections in the post. Trump and European Commission President Ursula von der Leyen had agreed to the trade deal last July. It set a 15 per cent tariff on most...
US President Donald Trump said on Thursday that he was removing certain tariffs on Scotch whisky after this week’s White House visit by the UK’s King Charles and Queen Camilla. “The King and Queen got me to do something that nobody else was able to do, without hardly even asking!” Trump posted on social media. Trump said people had wanted this change, especially with regard to the wooden barrels in which the spirits of Scotch and bourbon can be aged. His post left it unclear if the tariffs were...
US President Trump meets with oil firms over ways to minimise impact on fuel supplies amid US blockade of Iranian ports.
Over 70 Democrats on Tuesday urged US President Donald Trump to keep Chinese carmakers out of America, warning of “irreversible” consequences, just weeks ahead of his high-stakes trip to Beijing to meet with China’s President Xi Jinping. “We must not cede the American auto industry to a strategic competitor intent on global dominance,” a letter, signed by 73 House Democrats led by US Representative Debbie Dingell, said. “The consequences for American workers, our supply chains, our national...
Two enormous sandlike dunes at an old chemical processing plant in South Africa are at the centre of an exploratory US-backed project to extract highly sought-after rare earth elements from industrial mining waste. The Phalaborwa Rare Earths Project has US support through a US$50 million equity investment by the government’s International Development Finance Corporation and is part of accelerated US efforts to reduce its reliance on China for the minerals crucial for making electronic devices,...
In a defiant display of “America first” brinkmanship, Washington’s top trade negotiator on Thursday sought additional funding to support US President Donald Trump’s new trade wars, insisting the administration will not be held hostage by Beijing’s retaliatory tactics ahead of a high-stakes leaders’ summit next month. With Trump set to meet Chinese leader Xi Jinping on May 14-15, US Trade Representative Jamieson Greer used the agency’s budget hearing to draw a hard line: the US is doubling down...
The US president says he gave the UK a "better" deal than he had to in an interview on Wednesday.
Japan’s effort to shield itself from President Donald Trump’s tariffs is facing a new backlash, with environmental groups warning that US projects tied to Tokyo’s investment pledge could generate greenhouse gases equal to around 20 per cent of Japan’s annual emissions. The Japanese government agreed to invest 5.7 trillion yen (US$35.6 billion) in the three projects as part of the first round of spending on US infrastructure in return for Trump’s tariffs being suspended. In total, the bilateral...
Shipping costs have increased by more than 10 percent in the past month due to the US-Israel war on Iran.
US President Donald Trump’s tariffs returned to court on Friday, as a three-judge Court of International Trade panel in New York sharply questioned both sides while weighing the legality of a new set of tariffs he imposed in February, shortly after a Supreme Court ruling declared most of his sweeping levies unlawful. While the judges offered few clues on how they might rule on the Section 122 tariffs, the court has previously rejected business challenges seeking to invalidate Section 301 tariffs...
The case is to overturn the temporary tariffs that Trump imposed after the Supreme Court struck down his earlier ones.