tariffs

U.S. Supreme Court curbs Trump’s tariff powers, teeing up potential $175 billion in refunds The U.S. Supreme Court on Thursday ruled 6-3 that President Donald Trump exceeded his authority by imposing sweeping “reciprocal” tariffs under the International Emergency Economic Powers Act, a decision that curbs the White House’s latitude on trade and could trigger tens of billions of dollars in refunds to importers. Writing for the conservative-majority court, the justices concluded that IEEPA “does not authorize the president to…

Trump announces U.S.-India trade deal slashing tariffs to 18%, tied to cuts in Russian oil purchases President Donald Trump said he has agreed to a trade deal with India that will cut U.S. tariffs on Indian goods to 18% from 50%, in exchange for New Delhi lowering trade barriers, curbing purchases of Russian oil and increasing energy buys from the United States — and potentially Venezuela. In a social media post after a call with Indian Prime Minister Narendra Modi, Trump said the United States would reduce its “reciprocal”…

Trump threatens 100% tariff on Canada if Ottawa seals China trade deal, escalating feud with Prime Minister Mark Carney U.S. President Donald Trump warned he will impose a 100% tariff on all Canadian goods entering the United States if Canada signs a trade deal with China, an ultimatum that sharply raises the stakes in already fraying U.S.-Canada relations. “China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life,” Trump wrote on his Truth…

DAVOS, Switzerland — U.S. President Donald Trump on Wednesday backed away from threats to slap tariffs on European allies over Greenland, ruled out the use of force and said a framework was emerging for a long-term Arctic security and minerals deal that could defuse one of the sharpest transatlantic disputes in years. Trump said the United States and NATO partners had “formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” and, based on that understanding, he would not impose…

Trump retreats from Greenland seizure threat, touts open-ended Arctic security deal and lifts tariff warnings DAVOS, Switzerland — President Donald Trump backed down from threats to seize Greenland by force from U.S. ally Denmark, announcing a vague security arrangement he said delivers “everything we wanted” and lifting promised tariffs on European partners that opposed the move. Speaking at the World Economic Forum, Trump said the agreement was negotiated with NATO Secretary-General Mark Rutte and would last “forever,”…

Trump threatens 200% tariff on French wine to pressure Macron into joining ‘Board of Peace’ as Europe braces for wider rift U.S. President Donald Trump said he will impose a 200% tariff on French wines and champagne, a bid to pressure President Emmanuel Macron to join his proposed “Board of Peace,” as tensions with Europe deepened over the initiative and Trump’s renewed push to acquire Greenland. “Did he say that? Well, nobody wants him because he will be out of office very soon,” Trump said when told Macron would not…

EU ambassadors will convene an emergency meeting later today after U.S. President Donald Trump threatened escalating tariffs on key European allies unless the United States is allowed to buy Greenland, jolting transatlantic relations and trade. Cyprus, which holds the six-month rotating EU presidency, called the meeting for 5 p.m. in Brussels (4 p.m. in Dublin), according to EU diplomats. It was not immediately clear what authority Trump would invoke to impose tariffs of up to 25% on European goods. In a post on Truth…

European Union ambassadors will convene for an emergency meeting today after U.S. President Donald Trump threatened escalating tariffs on key European allies unless the United States is allowed to buy Greenland. Cyprus, which holds the EU’s rotating presidency, called the meeting for late afternoon. EU diplomats said it was set to start at 5 p.m. local time (4 p.m. Irish time). In a post on Truth Social, Trump said that starting Feb. 1, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland…

COPENHAGEN — President Donald Trump said he may impose trade tariffs on countries that do not support his push to acquire Greenland, escalating a dispute as a bipartisan U.S. congressional delegation arrived in Denmark to signal backing for Copenhagen and the island’s self-rule. “I may put a tariff on countries if they don’t go along with Greenland, because we need Greenland for national security,” Trump told reporters at the White House. The comments landed as senators and representatives from both parties began a two-day…

Trump threatens 25% tariff on countries trading with Iran as rights group reports 648 killed in protests U.S. President Donald Trump said he will impose a 25% tariff on “any country” that does business with Iran, escalating economic pressure on Tehran as an Iran-focused rights group reported at least 648 people killed in a sweeping crackdown on nationwide protests. “Effective immediately, any country doing business with the Islamic Republic of Iran will pay a tariff of 25% on any and all business being done with the United…