Trump tariff live updates: American companies brace for fallout

Trump tariff live updates: Tariffs on goods imported from the US’s three largest trade partners could upend industries from autos to consumer goods to energy, reports Reuters.

Executives have been able to deflect questions about dealing with tariffs before Saturday’s announcement, and many wanted to avoid antagonizing Trump’s White House after he took office. That non-response may no longer be possible.

Trump tariff live updates: There will be a 25 per cent duty on all imports from Mexico and most goods from Canada (With a 10 per cent carve-out for energy items like crude oil) and a 10 per cent tariff on Chinese goods. Therefore, products such as fruits and vegetables, meat, gas, automobiles, electronics, toys, clothing, lumber, and beer and spirits will get more expensive, according to a CNN report. Know more.

Trump tariff live updates: Investors are bracing for a looming hit to U.S. corporate profits and pressure on inflation after President Donald Trump on Saturday signed an executive order imposing tariffs on its largest trading partners, according to Bloomberg.

“I do think the markets are going to react to this,” said Mark Malek, chief investment officer at Siebert Financial in New York. “Until now the market has really been on Trump’s side, but that could change and the market could challenge him for the first time.”

President Donald Trump slapped tariffs on US’ major trading partners – Canada (25%), Mexico (25%) and China (10%). He cited a “major threat” posed by illegal immigration and drug trafficking to make this decision and implement the tariffs.

But what are these tariffs? Collected by Customs and Border Protection agents in the United States, tariffs are originally charged as a percentage of the price a buyer pays a foreign seller. Tariffs are collected at 328 ports of entry across the US.

Explained here

Products like fruits and vegetables, meat, gas, automobiles, electronics. beer, and spirits will get more expensive after President Donald Trump’s decision to impose tariffs on China, Canada and Mexico.

Read full report here

As President Donald Trump imposed tariffs on Canada, Mexico and China, US businesses, from an ice cream parlous to a medical supply business to a T-shirt vendor, are all bracing to take a hit from the taxes imposed on America’s biggest trading partners.

The Budget Lab at Yale University estimates that Trump’s tariffs would cost the average American household $1,000 to $1,200 in annual purchasing power, an AP report said.

The White House has said that President Donald Trump was taking “bold action” to hold Mexico, Canada, and China accountable for their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country. Read more.

Trump tariff live updates: Canadian hockey fans made their feelings loud and clear as they booed the US national anthem at an Ottawa Senators game on Saturday.

The protest came just hours after former President Donald Trump’s latest tariffs on Canada took effect, igniting frustration among many north of the border.

Trump tariff live updates: US President Donald Trump’s tariffs on imports from Canada and Mexico threaten to disrupt North America’s tightly integrated oil market. The move could push up gas prices for American motorists.

“Canadian oil tariffs would risk unpopular, if temporary, gasoline price increases in the US Midwest,” Goldman Sachs Group Inc. analysts, including Samantha Dart and Daan Struyven, said, according to Bloomberg.

Trump tariff live updates: China says it will file a lawsuit at the World Trade Organization over the tariffs, arguing that the United States’ “unilateral imposition” “seriously violates WTO rules.”

Trump tariff live updates: China says it will take counteractive measures to safeguard its interests after the US announced a 10% tariff on imports from the country. The country’s foreign ministry adds that the trade wars have “no winners”.

Trump tariff live updates: Reacting to Donald Trump’s claim of manufacture and export fentanyl, China’s foreign ministry says that the opioid drug “America’s problem”.

Trump tariff live updates: Mexican President Claudia Sheinbaum has angrily rejected an accusation by US President Donald Trump’s administration that her government has an alliance with drug cartels.

“We categorically reject the slander made by the White House against the Mexican government about alliances with criminal organizations,” Sheinbaum wrote on social media platform X.

Trump tariff live updates: Reacting to Donald Trump’s decision to impose tariffs, the Canadian Chamber of Commerce says it is a “profoundly disturbing” decision and it will “drastically increase the cost of everything for everyone.”

Trump tariff live updates: China has vowed to implement ‘corresponding countermeasures’ after US President Donald Trump announced 10% tariffs on goods from China, reports AFP.

Tariff war live: China’s commerce ministry says that it firmly opposes Trump’s decision to impose 10% tariffs on goods from China. It urges the United States to engage in frank dialogue and strengthen cooperation.

Tariff war live: Canada PM Justin Trudeau says that the next few weeks will be difficult for Canadians and Americans. “We don’t want to be here, we didn’t ask for this,” he says. “But we will not back down in standing up for Canadians.”

Tariff war live: David Eby, the Premier of the Canadian province of British Columbia, has called on residents to stop buying liquor from US “red” states, according to AP.

He says his administration will remove American alcohol brands from government store shelves in response to the tariffs. “Effective today, I have directed BC liquor sales to immediately stop buying American liquor from red states,” he said. “Liquor store employees will be removing the most popular of these brands from government store shelves.”

Tariff war live: On a question about whether he has spoken with President Trump, Canada PM Trudeau says he has not.

Trudeau had met Trump at the latter’s Florida resort in December, when he had tried to avert the tariffs, according to the BBC.

Tariff war live: Canadian Prime Minister Justin Trudeau warns Americans that Trump’s announcement of 25% tariffs on most Canadian goods “will have real consequences” for them.

“As I have constantly said, tariffs against Canada will put your jobs at risk, potentially shutting down American auto assembly plants and other manufacturing facilities,” Trudeau tells Americans.

Tariff war live: In a press conference, Canadian PM Justin Trudeau says the response will be “far-reaching” and include items like American beer, wine, bourbon, fruits and fruit juices including orange juice, vegetables, perfumes, clothing and shoes.

Tariff war live: Hours after US President Donald Trump’s tariff against Canada kicked in, Ottawa has announced retaliatory tariffs on America.

Outgoing Canada PM Justin Trudeau announced that his country will impose 25% tariffs on C$155 billion ($106.5 billion) of US goods in response, according to Reuters.

Tariff war live: Mexico’s President Claudia Sheinbaum has announced that her country will retaliate against tariffs imposed by US President Donald Trump with tariffs and other measures of its own.

Sheinbaum said she had told her economy minister “to implement Plan B that we have been working on, according to AFP.

Tariff war live: The tariffs risk an economic standoff with America’s two largest trading partners Mexico and Canada, upending a decades-old trade relationship with the possibility of harsh reprisals by those two nations.

Tariff war live: The US President has imposed a 25% tariff on Canadian and Mexican imports and a 10% on goods from China.