Tariffs

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…

US President Donald Trump recently announced plans to elevate tariffs on imported steel and aluminium from 25% to a staggering 50%. This move is poised to exert additional pressure on global steel manufacturers and intensify the ongoing trade conflict. "We are implementing a 25% increase in tariffs," Trump declared at a rally in Pennsylvania, emphasizing the decision's significance for American steelworkers. "This will further secure the steel industry in the United States," he noted. In the vicinity of Pittsburgh, where…

The Future of the American Steel Industry: A Closer Look at Recent Changes in Tariff Policy “We are going to be imposing a 25% increase,” former President Donald Trump declared during a spirited rally at a U.S. Steel plant near Pittsburgh. His words hung in the air like a declaration of war against foreign competition. “We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States.…

Analyzing the Recent Developments in US Tariff Policy The Court of Appeals for the Federal Circuit recently made headlines by temporarily reinstating former President Donald Trump’s tariffs, a decision that has significant implications for both national security and international trade relations. Just a day prior, a trade court had delivered a ruling stating that these tariffs exceeded the authority granted to the President. This sudden change raises questions about the intricacies of law and trade, and what it means for…

In recent years, there's been a flurry of notable commitments from major companies about revitalizing manufacturing within the United States. For instance, Nvidia has announced ambitious plans to establish a supercomputer plant on American soil, while Apple aims to inject $500 billion into domestic investment. However, a recent report from Wells Fargo economists suggests that the road to bringing back offshored manufacturing jobs will not be a walk in the park. The analysts at Wells Fargo noted, "An aim of…