US Vice President J.D. Vance met Indian Prime Minister Narendra Modi in New Delhi on Monday to discuss progress on a bilateral trade deal between the two countries. The meeting comes during a 90-day pause on new US tariffs announced by President Donald Trump earlier this month. According to a …
Read More »Trump tariffs could force Britain’s last steel plant to close
The UK’s sole remaining producer of virgin steel has announced plans to close its last plant, citing “challenging market conditions,” including the imposition by US President Donald Trump of a 25% tariff on steel imports. Trump placed sweeping duties on key metals imports last month, with duties targeting all steel …
Read More »UK braces for new US tariffs – media
The UK is preparing for a new wave of US trade tariffs that could be imposed this week, several media outlets reported on Monday, citing Downing Street. Few details about the potential tariffs have been made public so far, but they could cut the size of the British economy by …
Read More »China retaliates against Trump tariffs
China has announced new tariffs and trade restrictions, following a similar move by the administration of US President Donald Trump, which views competition against China as a key foreign policy point. Last week, Trump ordered additional 10% tariffs on all goods from China, saying he is using his emergency authority …
Read More »US may roll back tariffs on some Chinese goods
US President Joe Biden has instructed his administration to look into lifting some tariffs on imports from China in an effort to curb record-breaking inflation, Commerce Secretary Gina Raimondo said on Sunday in an interview with CNN. “We are looking at it. In fact, the president has asked us on …
Read More »US, EU end Trump-era dispute over steel & aluminum tariffs – European Commission
“Pleased to announce that US President Joe Biden and I have reached an agreement to suspend tariffs on steel and aluminum and work together on a new global agreement on steel,” the official wrote on Twitter. According to US Commerce Secretary Gina Raimondo, the new agreement will allow “a limited …
Read More »China lodges complaint with WTO against Australia over trade tariffs
Ministry spokesman Gao Feng said that Beijing would now appeal against Australia’s duties on imports of railway wheels, wind towers and stainless-steel sinks. “(China) hopes that the Australian side will take concrete action to correct the wrong practices and avoid distortions to the trade of related products, so that trade …
Read More »Biden’s Commerce secretary says Trump tariffs ‘helped save American jobs’ & indicates she’ll keep them
“There is a place for tariffs” in Commerce’s policy toolkit, Raimondo told the White House press corps during a briefing on Wednesday, adding that “the 232 tariffs on steel and aluminum have in fact helped save American jobs in the steel and aluminum industries.” This was a reference to Section …
Read More »US suspends tariffs on French luxury goods over tax on Silicon Valley tech giants
The 25 percent levy, targeting French goods such as handbags, cosmetics, and soap, was set to become effective on Wednesday. However, the US Trade Representative’s office made a last-minute U-turn, announcing on Thursday the punitive measure wouldn’t be enforced. The top trade negotiator explained that the suspension comes “in the …
Read More »US raises tariffs on French and German wines & aircraft parts over ‘unfair’ Airbus subsidies
The increased tariff will apply to imported cognacs, brandies and “certain non-sparkling wines,” as well as “aircraft-related parts,” Reuters reported on Wednesday citing a statement from the Office of the US Trade Representative. The USTR did not specify the rate of the new tariff or when it would take effect, …
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