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Trump Tariffs

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world1 day 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.

via Politico|
#automotive-industry#canada#steel-tariffs
world7 days ago

Trump weighs tariff reprieve for Canada as talks edge toward interim deal

A potential deal to avert 50% tariffs on certain Canadian goods sits on President Trump’s desk as the U.S. and Canada press toward a broader USMCA framework, with concessions on auto tariffs and dairy under discussion and Canada seeking relief from dairy protections and liquor bans; the agreement could unlock wider talks before the Aug. 19 deadline and help cushion swing-state economies ahead of the midterm elections.

via Politico|
#auto-tariffs#dairy-quota#trump-tariffs
US Targets Chinese Drone Tech with Heavy Tariffs and Onshoring Push
world11 days ago

US Targets Chinese Drone Tech with Heavy Tariffs and Onshoring Push

President Trump imposes sweeping tariffs on Chinese drones and components—up to 100% for sensitive systems and 25% on drones up to 25kg—while creating an onshoring program; drones from US allies face lower duties (15% generally, 10% for the UK). The move aims to reduce reliance on Chinese drone technology and reshape supply chains amid ongoing US-China tensions.

via Financial Times|
#drones#note-keep-to-five-tags#supply-chains
Court Upholds Trump’s Closure of the De Minimis Tax-Free Gap
business12 days ago

Court Upholds Trump’s Closure of the De Minimis Tax-Free Gap

A federal trade court upheld President Trump's elimination of the de minimis exemption, which allowed low-value goods to enter the U.S. duty-free. The court ruled that the IEEPA authorizes scrapping the exemption and that the action does not involve the purse or legislate, distinguishing it from other challenged measures. The decision could raise import tax revenue and affect shoppers who relied on the loophole, with Trump calling it a big win.

via CNBC|
#business#court-of-international-trade#de-minimis
Trump Revives Hoover-Era Tariff Tactic, Sparking Debate on 1930s Policy
economy1 month ago

Trump Revives Hoover-Era Tariff Tactic, Sparking Debate on 1930s Policy

Trump has revived a rarely used provision—Section 338 of the 1930 Smoot-Hawley Tariff Act—to justify new tariffs on Canadian imports, a move historians and economists say echoes the protectionist era that helped trigger the Great Depression. The White House insists the action is narrow and targeted, not a repeat of Hoover's broad tariffs, but legal experts are divided and warn the measure could face challenges; if courts validate Section 338, the administration could apply tariffs to additional countries.

via Axios|
#economy#hoover#section-338
Trump threatens fresh EU tariffs amid Brussels tech-fines row
us-politics-and-policy1 month ago

Trump threatens fresh EU tariffs amid Brussels tech-fines row

President Trump announced on Truth Social that the US will launch a new tariff probe into the European Union in retaliation for fines on U.S. tech firms, a move that could sharpen transatlantic tensions after Brussels fined Google €890 million and had previously penalised Apple, Meta and Amazon under digital-regulation rules.

via Financial Times|
#big-tech#digital-services-tax#technology-regulation
Tariffs Push Ontario and Quebec to Sell Off Unsold U.S. Liquor
world1 month ago

Tariffs Push Ontario and Quebec to Sell Off Unsold U.S. Liquor

Ontario and Québec together hold about CAD 96 million in unsold U.S. liquor due to a 2025 alcohol import ban. Trump’s 50% tariffs could spur a diplomatic move: resume retail sales of that stock while keeping the ban on new imports, potentially raising roughly CAD 163 million for Ontario and CAD 33 million for Québec and reducing storage costs. It would signal goodwill in Canada–U.S. trade talks and pressure U.S. producers, though prices for U.S. consumers would rise and the plan could face legal challenges.

via The Conversation|
#alcohol-ban#canada-us-trade#ontario
Trump reins in new tariffs push after court blocks emergency levies
us-politics-and-policy2 months ago

Trump reins in new tariffs push after court blocks emergency levies

Trump’s aides are re-launching a broad tariff drive using older laws after the Supreme Court blocked emergency levies, proposing 25% duties on Brazil, a Vietnam probe, and 10–12.5% duties on more than 60 countries over forced-labor rules, plus investigations into industrial overcapacity and subsidies and a China policy board inviting input. The plan aims for durability under Section 122/301 rules, with a late‑July deadline to keep Levies in place, though it faces potential legal challenges; some relief is offered by cutting farm‑equipment tariffs to 15% from 25% as inflation and midterm politics loom.

via Financial Times|
#global-trade#trade-disputes#trump-tariffs
Court rules Trump’s 10% global tariffs illegal in key setback for trade policy
business3 months ago

Court rules Trump’s 10% global tariffs illegal in key setback for trade policy

A US Court of International Trade ruled that Donald Trump’s 10% global tariffs imposed under Section 122 of the Trade Act of 1974 were unauthorized by law, applying only to the two companies in the case and not suspended broadly. The decision adds to legal headwinds against his trade agenda and hinges on whether balance-of-payments deficits are the same as a trade deficit. The White House did not comment, while ongoing Section 301 investigations could lead to new duties, with the baseline tariff set to expire in late July.

via Financial Times|
#balance-of-payments-deficits#business#court-of-international-trade
politics3 months ago

Court finds Trump's replacement tariffs unlawful, grants narrow relief

A divided U.S. Court of International Trade ruled that Trump’s 10% replacement tariffs, imposed under Section 122 of the Trade Act of 1974, are unlawful; the injunction covers only Washington state and two companies (Burlap & Barrel and Basic Fun!), leaving nationwide collection in place for now and likely prompting an appeal as the administration continues to pursue tariffs under other authorities.

via Politico|
#burlap-and-barrel#court-of-international-trade#politics
Trump presses 25% tariff on EU cars unless US production rises
world3 months ago

Trump presses 25% tariff on EU cars unless US production rises

President Donald Trump said he will impose a 25% tariff on EU cars and trucks entering the United States next week unless European manufacturers move production to U.S. plants; shipments manufactured in the United States would face no tariff. The move upends last year's trade deal reducing tariffs on many EU imports and heightens transatlantic tensions, drawing warnings from EU officials and automakers about potential damage to the European auto industry.

via Financial Times|
#automobiles#global-trade#trade-disputes
politics5 months ago

Tariffs Backfire on Farmers as GOP Faces Rural Warning Signs

Trump’s tariff strategy aims to boost farm exports and justify $12B in direct aid, but Purdue data show farmer sentiment deteriorating (lowest since 2024), 44% say operations are worse off, and 15,000 fewer farms in 2025 with a 46% jump in bankruptcies, pressuring rural Republicans to push more aid, market access, and a new farm policy ahead of the 2026 midterms. Democrats say farmers are hurting, while many trade deals remain unfinished, limiting relief despite the administration’s claims.

via Politico|
#agriculture-economy#farmers#midterms
States sue to block Trump’s new tariffs after Supreme Court ruling
politics5 months ago

States sue to block Trump’s new tariffs after Supreme Court ruling

New York AG Letitia James and 23 other state attorneys general filed a lawsuit in the Court of International Trade to block President Trump’s latest global tariffs under Section 122 of the Trade Act of 1974 and seek refunds, arguing the tariffs violate the Constitution and require consistent application, a challenge that follows the Supreme Court’s ruling striking down the prior IEEPA-based tariffs and amid White House defenses of the policy.

via CNBC|
#international-emergency-economic-powers-act#letitia-james#politics