Tariffs

The European Commission has announced a new list of U.S. goods valued at €72 billion that may face EU tariffs if ongoing tariff negotiations with Washington do not yield results. At a recent meeting in Brussels, trade Commissioner Maros Šefčovič unveiled this proposal, highlighting that it encompasses "approximately 72 billion euros' worth of U.S. imports." This development follows U.S. President Donald Trump's threats to impose a 30% tariff on EU products if an agreement isn't reached by August 1. Despite the turbulent…

The European Commission is setting its sights on imposing tariffs on €72 billion worth of US goods, encompassing everything from Boeing aircraft and bourbon whiskey to automobiles. This move could come into play if trade talks with the US do not yield positive results. US President Donald Trump has threatened to impose a 30% tariff on imports from the EU starting August 1. European officials have expressed that such a level is "unacceptable" and would disrupt normal trade between two of the world’s largest economies. The…

US President Donald Trump has initiated a pivotal new chapter in the trade war he set in motion earlier this year. In a recent communication to various international partners—ranging from major suppliers like Japan and South Korea to smaller economies—he announced that they should prepare for significantly higher tariffs starting from August 1. The decision to impose a 25% levy on all goods from key allies Japan and South Korea sent ripples through Wall Street, though markets in Asia appeared to absorb the news more…

Understanding Trump's Tariff Decision on South Africa In a bold pivot, Washington has signaled a significant shift in its trade approach, raising critical questions about the long-standing economic ties between the United States and South Africa. This move, characterized by the imposition of a 30% tariff on South African imports, threatens to unravel decades of bilateral economic cooperation. How did we reach this tipping point, and what does it mean for both nations moving forward? Former President Trump justified his…

US President Donald Trump may consider extending the July deadline for higher tariffs on imports, according to recent statements from the White House. Originally set for July 9, this deadline marks when punitive tariffs on a range of EU goods are scheduled to be imposed, which has prompted the EU to promise approximately €95 billion in retaliatory measures. When asked about the possibility of extending the pause on tariffs, Press Secretary Karoline Leavitt commented, "Perhaps it could be extended, but that's a decision…

In a chilling warning, labor unions have revealed that up to 20,000 jobs in Lesotho hang in the balance, driven by the looming threat of a staggering 50 percent tariff hike from the United States. This situation brings to mind George Bernard Shaw’s words: “Progress is impossible without change.” Yet, for many in Lesotho, change feels more daunting than progressive. Until the Trump administration's controversial imposition of new tariffs, Lesotho enjoyed duty-free status under the African Growth and Opportunity Act—an…

Trade Talks and Tariffs: A Presidential Perspective In a vivid display of determination and optimism, President Trump recently addressed reporters at the iconic Kennedy Center in Washington, D.C. As tension loomed over international trade negotiations, he confidently asserted that extending deadlines for discussions with other nations wasn't necessary. According to him, he had already forged significant agreements with both China and the United Kingdom. "Now, at a certain point, we're just going to send letters out,"…

Tánaiste Simon Harris has formally requested that the EU's trade commissioner, Maroš Šefčovič, consider exempting crucial Irish sectors—including aviation, medical, agrifood, and the equine industry—from potential retaliatory tariffs on US products, should the ongoing trade negotiations falter. In a letter obtained by RTÉ News, Harris emphasized the need for careful deliberation, especially given the potential impact of such tariffs on Northern Ireland. As the former Brexit negotiator for the EU, Šefčovič is positioned to…

Canada's Prime Minister Responds to U.S. Tariff Increases In a significant escalation of trade tensions, Canadian Prime Minister Mark Carney has criticized U.S. President Donald Trump's decision to double tariffs on steel and aluminum to 50%. This move raises concerns not just for Canada, which is the largest foreign supplier of these metals to the U.S., but for American workers and industries as well. Addressing the media in Ottawa, Carney stated, "The latest tariffs on steel and aluminum are unjustified, they're…

The United States is set to double its tariffs on imported steel and aluminum, a decision announced by the White House and signed into effect by President Donald Trump. This latest development takes the levies on both metals from 25% to 50%, marking a significant escalation in the ongoing trade disputes. While tariffs on steel and aluminum from the UK will remain unchanged at 25%, both nations are in discussions to establish duties and quotas aligned with their existing trade agreement. The objective behind this move is to…