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Steel Tariffs

All articles tagged with #steel tariffs

world4 days ago

Trump Hikes Canadian Tariffs to 50% as Talks Break Down

The United States will impose a 50% tariff on Canadian cars, trucks, automotive parts, steel and related goods starting January 1, 2027 after trade talks collapsed. A four‑month grace period is meant to spark renewed negotiations, but both sides have dug in, with Canada vowing retaliation and leaders across Canada criticizing the move. Some U.S. Republicans also cautioned against the policy, highlighting the potential economic costs on border industries.

UK-US Trade Deal Launches with Tariff Cuts for Autos and Aerospace
business1 year ago

UK-US Trade Deal Launches with Tariff Cuts for Autos and Aerospace

The UK and US have signed a deal reducing tariffs on UK car and aerospace exports, but steel and aluminium tariffs remain unresolved, creating uncertainty for UK manufacturers. The agreement also involves the UK removing tariffs on US beef and ethanol, raising concerns among UK farmers and industry, while the steel tariff issue could escalate if not resolved by July 9.

Trump and Xi Prepare for Key Call Amid Trade Tensions
world1 year ago

Trump and Xi Prepare for Key Call Amid Trade Tensions

President Trump and Chinese leader Xi Jinping are expected to have a call soon, while Trump plans to sign an executive order to double steel and aluminum tariffs from 25% to 50%, amid ongoing trade tensions and disputes over compliance with trade agreements. The OECD has forecasted a slowdown in global growth due to tariffs, but the White House remains optimistic about negotiations, including upcoming trade offers from other countries.

US Stocks Drop Amid Rising Global Trade Tensions and Tariff Threats
business1 year ago

US Stocks Drop Amid Rising Global Trade Tensions and Tariff Threats

The stock market declined amid US-China trade tensions and new steel tariffs, with the Dow dropping nearly 200 points. Steel stocks surged after Trump's tariff announcement, while sectors like energy and gold mining outperformed. Treasury Secretary Bessent reassured investors about US debt, and China criticized the US trade deal, escalating tensions. Overall, market sentiment was cautious with mixed sector performances.