BEIJING China urged the United States Monday to cancel unilateral tariffs announced by President Donald Trump after the U.S. Supreme Court struck down many of his measures. The court ruled six to three on Feb. 20 that Trump does not have the authority to impose tariffs under a 1977 law he has relied on to…
The European Union’s planned landmark trade deal with the United States is once again in jeopardy, as the fallout from a Supreme Court ruling against President Donald Trump’s sweeping tariffs continues to ripple across global trade negotiations. US President Donald Trump at an event at the White House. Rather than accept the ruling and go…
The new 10 per cent global tariffs imposed by the United States will only have a “limited impact” on Hong Kong, the city’s treasury chief has said, adding that the move highlights the city’s strength as a safe haven for capital amid geopolitical uncertainty. The remarks followed US President Donald Trump’s announcement on Friday to…
The Supreme Court of the United States has ruled 6-3 that the International Emergency Economic Powers Act (IEEPA) does not give the president the power to impose tariffs. The case focused on tariffs introduced under President Donald Trump, according to Reuters. What is IIEPA? Supreme Court limits Presidential power on tariffs (AP) What is IEEPA?…
The Trump administration is disputing a new paper from the New York Federal Reserve asserting that US consumers and businesses are bearing the bulk of the higher costs from tariffs imposed last year. “The paper is an embarrassment,” National Economic Council Director Kevin Hassett told CNBC on Wednesday. “I think it’s the worst paper I’ve…
Photo credit: breakbulk.news Chinese President Xi Jinping announced on Saturday, via state media, that Beijing will remove tariffs for all but one African country starting May 1. China already has a zero-tariff policy for imports from 33 African countries, but Beijing said last year it would extend the policy to all 53 of its diplomatic…
US President Donald Trump “genuinely” considers Prime Minister Narendra Modi a “great friend” – a remark by US ambassador Sergio Gor that now appears borne out by outcomes. The India-US trade deal announced by the Republican leader, which took nearly a year of hard bargaining and tested both New Delhi and Washington, has finally been…
The European Union and India announced a landmark Free Trade Agreement on Tuesday. The two economies, which together represent about a quarter of the world’s population, spent nearly two decades haggling over the terms of the deal. So what brought them together to finally ink what the EU has lauded as the “mother of all…
A Scottish MP has urged prime minister Sir Keir Starmer to protect and stress the importance of Scotch whisky in his negotiations with China this week. Jamie Stone has written a letter to Starmer following news that the visitor centre at Clynelish Distillery is to close Following last week’s announcement that Diageo is planning to…
The United States has clinched a sweeping agreement with Taiwan that would reduce tariffs on the “Silicon Island” in exchange for up to a quarter‑trillion dollars in investments, a move that carries significant security implications for Taipei amid mounting pressure from China. The deal follows similar arrangements Washington struck last year with Japan, European countries…