All articles tagged with #trade deal
President Trump announced a tentative deal with Canada to pause roughly $20 billion in 50% tariffs on selected Canadian goods for three days while final terms are finalized, with hints the agreement could revive the Keystone XL pipeline and reduce Canadian auto tariffs; USTR Greer and Canadian officials signaled progress, though the deal remains subject to final documents.
President Trump delayed the 50% tariffs on Canadian imports for three days to give time for a final trade deal, saying a deal is close as negotiators press on with talks. Progress has been made but key issues remain, including concessions on autos, dairy, and provincial liquor sales. Trump also suggested the agreement could allow revival of the Keystone XL pipeline and emphasized protections for American workers and market access for U.S. goods.
The European Parliament approved legislation to implement the EU–US trade deal, finalizing tariff removals on most U.S. industrial goods and some European agricultural products after months of delay amid political pressure. The 440-151-50 vote allows the pact to move toward final approval by the Council (expected June 26) and publication in the Official Journal. The agreement includes safeguards: Parliament can suspend if Washington fails to lower steel and aluminum duties by end-2026, and EU tariff concessions expire at the end of 2029, after which the deal’s fate could hinge on political timelines around President Trump’s tenure.
Canadian Prime Minister Mark Carney urged redefining the Canada–US partnership as Donald Trump weighs renewing a bilateral trade agreement, delivering the call during a speech at the Economic Club of New York to foster closer economic coordination and growth.
Trump set a July 4 deadline for the EU to ratify the U.S.-EU trade deal, warning tariffs would rise sharply—potentially to 25% on autos—if Brussels misses the deadline, while von der Leyen says progress is being made toward tariff reductions; negotiators are due to meet again on May 10, as a separate U.S. court ruling found Trump’s 10% global tariffs unjustified.
Trump warned he would raise EU tariffs to much higher levels by July 4 unless the bloc drops its levies to zero, tying the move to the US–EU trade deal that envisions tariff reductions (and had previously floated threats up to 30% on some goods and a 15% tariff under the agreement). The deal still needs approval from EU lawmakers and all 27 member states. Separately, a US trade court ruled Trump’s 10% global tariffs were not justified under US trade law, though the ruling does not automatically block them; negotiations were ongoing with another round planned.
President Donald Trump told the European Union it must approve a trade pact by July 4, while hosting UFC fighters in the Oval Office, signaling a firm deadline in ongoing negotiations between the United States and the EU.
President Donald Trump gave the European Union a July 4 deadline to implement the Turnberry Accord trade deal, warning tariffs would rise to “much higher levels” if the agreement isn’t enacted; the deal would lower tariffs on U.S. goods in exchange for EU tariff concessions and energy investments, with EU officials saying progress is being made but non-tariff barriers have yet to be addressed.
President Donald Trump said he will raise tariffs on cars and trucks from the European Union to 25% next week, accusing the bloc of not complying with a 2025 trade deal. The move would invert the existing framework and comes amid a Supreme Court ruling that limited the president’s emergency-tariff authority, alongside broader geopolitical and domestic inflation pressures.
Trump announced he will raise tariffs on EU-made cars and trucks from 15% to 25% next week, exempting vehicles assembled in the US by EU companies and effectively scrapping part of the Turnberry deal. The move drew swift criticism from EU lawmakers and complicates a still-pending ratification process, as the EU vows to defend its interests and pursue diplomatic responses while broader US-EU tariff tensions continue in the backdrop (including steel tariffs and related policy signals).
The EU-Mercosur trade pact takes provisional effect on Friday, marking its first entry into force and raising hopes for increased trade and investment between Europe and South America, while also drawing concerns about environmental safeguards and impacts on domestic industries and livelihoods.
President Trump said he will raise tariffs on cars and trucks imported from the EU to 25% next week, up from 15%, accusing the bloc of not complying with a fully agreed trade deal. He urged European carmakers to shift production to U.S. plants to avoid tariffs and highlighted heavy investment in U.S. manufacturing, signaling a sharp escalation in US-EU trade tensions amid stalled talks on steel and aluminum. The car tariffs operate under a different legal process than the previously ruled Liberation Day tariffs by the Supreme Court.
Live updates say the Trump administration argues the Iran war has effectively ended due to the early-April ceasefire, allowing the White House to avoid formal congressional authorization under the War Powers law, while Iran still blocks Hormuz. The feed also notes a plan to impose a 25% tariff on EU autos next week for alleged noncompliance with a 2025 trade deal, along with coverage of other items like a Canada–US oil pipeline approval, diplomatic outreach, and immigration enforcement recalibration.
Canadian Prime Minister Mark Carney says the United States won’t dictate terms of a bilateral trade deal, signaling Canada will push its own terms in negotiations.
U.S. President Donald Trump warned he could change the bilateral trade deal with the U.K. in response to Britain’s opposition to military action against Iran, while Prime Minister Keir Starmer insisted he will not yield to pressure; the dispute highlights strains in the U.S.-U.K. relationship as tariffs and deal terms remain unsettled a year after the pact.