Source: U.S. International Trade Commission Note: Boxes sized by value of exports to the United States. Only the 20 largest exporters to the U.S. are shown. The New York Times For now, most world leaders are trying to bargain their way out of the sweeping new American tariffs. Just two of the 20 largest exporters…
President Trump on Monday issued a new ultimatum to China: Rescind its retaliatory tariffs, or face a 104 percent tax on its exports to the United States starting later this week. The president’s threat risked another major escalation in what has already become a costly and damaging global trade war, one that has roiled financial…
U.S. oil prices fell sharply, briefly dipping below $60 a barrel on Sunday — their lowest level in almost four years — as the economic fallout from President Trump’s latest round of tariffs reverberated around the world. Crude oil now costs around 15 percent less than it did last Wednesday, just before Mr. Trump revealed…
President Trump’s announcement last week that he will impose a 20 percent tariff on goods coming from the European Union sent shock waves across the 27-nation bloc, the latest move in an unfolding trade war that is tearing the close partners apart. This week, Europe will push ahead with its first countermaneuver — one of…
China’s leaders have sent a clear message about the effects of the Trump administration’s sweeping tariffs: Things will be painful, but it is nothing that the country cannot handle. A commentary on Sunday in the Communist Party mouthpiece, the People’s Daily, said Beijing had prepared for a trade war with the United States and that…
Financial markets were hit by another wave of selling on Sunday evening, with investors and economists grappling with rising odds of a severe economic downturn caused by President Trump’s significant new tariffs on imports. Futures on the S&P 500, which allow investors to bet on the index before the official start of trading on Monday,…
President Trump’s top aides raced to defend his expansive global tariffs on Sunday, downplaying the prospect that his new taxes on imports could cause a significant spike in prices or tip the U.S. economy into a painful recession. As Mr. Trump departed Mar-a-Lago for another day of golfing at his club in Jupiter, Fla., his…
There was little rest on Wall Street this weekend. There was plenty of anger, anxiety, frustration, and fear. Anger at President Trump for a brash and chaotic rollout of tariffs that erased trillions of dollars in value from the stock market in two days. Anxiety about the state of the private equity industry and other…
Though Canada’s election began in earnest only late last month, public opinion polls have captured a gripping political narrative that has been unfolding since the start of the year. Between President Trump’s trade war, his threats of annexation and the resignation of Canada’s last prime minister, a lot happened in the run-up to this race…
President Trump’s self-proclaimed “liberation day,” in which he announced across-the-board tariffs on the United States’ trading partners, carries an echo of another moment when an advanced Western economy threw up walls around itself. Like Brexit, Britain’s fateful vote nearly nine years ago to leave the European Union, Mr. Trump’s tariffs struck a hammer blow at…