US President Donald Trump on Saturday imposed a 10% “global tariff” on all US trading partners, hours after a Supreme Court ruling that struck down the Trump administration’s reciprocal tariffs imposed in April. White House officials subsequently clarified that for countries like India that have signed trade agreements with the US, tariff levels will temporarily…
The delay is believed to be part of China’s response to Prime Minister Sanae Takaichi’s suggestion of a Japanese military response to any Beijing seizure of Taiwan. (JIJI PRESS/AFP pic) TOKYO: Japan said Friday that international trade should be “smooth” after media reports said China was delaying Japanese imports as well as rare-earth exports, as…
In some of the darkest days in the political relationship between Australia and China, trade became a tool to inflict pain. The early 2020s trade war saw China slap higher tariffs on Australian wine and barley, impose biosecurity measures against beef and timber, and ban lobsters and even some coal. It took four long years…
Calling the peak for anything is dangerous. So here goes: We’ve reached peak tariffs, as both an economic weapon and almost certainly as a political one. President Donald Trump signaled as much on Sunday when he turned to social media and declared people who oppose tariffs “are FOOLS!” He then offered everyone a tariff “dividend”…
When the US and China settled their earlier trade war in 2020, American soybean producers saw their exports surge to near record levels. This time around, any deal is likely to yield far smaller rewards. President Donald Trump and his counterpart Xi Jinping are expected to sign off on terms of a framework struck by…
President Donald Trump announced new tariffs on Canada on Saturday, but he said there is a good chance of a “comprehensive deal” to cool trade tensions with China. The split screen emerged this weekend as Trump kicked off his first trip to Asia this term, a three-country sprint expected to focus heavily on trade. Trump…
US sanctions on a key Chinese oil import terminal are redirecting crude flows and threatening run cuts at several state-owned refineries. Last week’s blacklisting of the Rizhao Shihua Crude Oil Terminal, which handles about 9% of China’s crude imports, could force run cuts of up to 250,000 barrels a day at a handful of refineries…
President Donald Trump moved to calm fears of an escalating trade war with Beijing on Sunday after he threatened to impose 100% tariffs on China’s imports in response to the nation’s export curbs on rare earth minerals. Trump’s new tariffs on China would amount to a big increase over the current average 55% levy. In a post…
China has announced it is monitoring Mexico’s ongoing antidumping probes into Chinese products and urged the country to uphold World Trade Organization (WTO) rules throughout the process, a spokesperson for China’s Ministry of Commerce said, who was not identified. “We have noted that Mexico’s Ministry of Economy, at the request of domestic companies, has recently…
When Trump visited Scotland in July, he said a reduction in his tariffs on U.K. steel and aluminum would come “pretty soon.” But five months after the May deal was signed, the U.K. is still lobbying U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to get the White House to put those quotas…