tariffs

European Commission presses U.S. to honor EU-U.S. trade deal after Trump lifts global tariffs to 15% The European Commission urged Washington to honor last year’s EU-U.S. trade deal after President Donald Trump temporarily raised the global duty on imports to 15%, a move announced a day after the Supreme Court curtailed much of his tariffs campaign. “A deal is a deal. As the United States’ largest trading partner, the EU expects the US to honour its commitments set out in the Joint Statement — just as the EU stands by its…

Democratic governors escalated demands for consumer refunds after the U.S. Supreme Court ruled 6-3 that former President Donald Trump exceeded his authority by invoking emergency powers to impose tariffs that reshaped global trade and drove up prices at home. Illinois Gov. JB Pritzker on Wednesday sent Trump an invoice seeking nearly $9 billion in tariff refunds for families in his state — roughly $1,700 per Illinois household, echoing a Yale University estimate of last year’s average U.S. household burden. In a letter…

Illinois’ Pritzker demands $9B in tariff refunds from Trump after Supreme Court ruling Illinois Gov. J.B. Pritzker on Wednesday sent President Donald Trump an invoice seeking nearly $9 billion in tariff refunds for Illinois families, hours after the U.S. Supreme Court ruled the administration exceeded its authority in using emergency powers to impose broad trade duties that lifted prices at home. “Cut the check,” Pritzker urged in a letter to the White House, accusing the tariff program of “wreaking havoc on farmers,”…

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…