Global trade tensions took center stage at the Seoul Mobility Show as automakers confronted the impact of new U.S. tariffs, raising concerns over rising costs, shifting strategies, and the future of international automotive trade.
The global fashion industry was left in shock on Wednesday after U.S. President Donald Trump announced a sweeping set of tariffs, the highest and most comprehensive in nearly a century.
The United States is relapsing into an old identity. In 2025, President Donald Trump revived the strategy that once defined the American economy — tariffs. For more than a century, from 1789 to 1913, tariffs powered U.S. government revenues and protected domestic industry.
Wall Street’s major indexes tumbled sharply after U.S. President Donald Trump’s sweeping tariffs on key trade partners triggered fears of a trade war and global recession. Investors reacted with panic, sending markets into a steep decline.
German Economy Minister Robert Habeck has strongly condemned the newly announced US tariffs, warning that they could trigger an economic downturn, lead to a global recession, and disrupt international trade.
Within hours of Trump’s “Liberation Day” speech, a chorus of global voices began responding — some cautiously, others furiously. While the U.S. president promised to rebalance what he called “decades of economic exploitation,” world capitals began drawing their own red lines.
Standing in the White House Rose Garden, President Donald Trump declared what he called “Liberation Day”, announcing a raft of tariffs on U.S. trading partners — the most expansive use of trade powers in modern American history.
U.S. President Donald Trump has imposed new tariffs on UK and EU imports, warning foreign “cheaters” as he promises to restore American jobs and economic dominance.
The European Union is prepared to retaliate against U.S. tariffs but prefers a negotiated resolution, European Commission President Ursula von der Leyen said. She warned that U.S. tariffs would fuel inflation and harm jobs while urging the EU to remove internal trade barriers.
China has urged the EU to join forces in resisting U.S. protectionism and safeguarding global trade, as Vice Premier He Lifeng met EU trade chief Maros Sefcovic in Beijing. While both sides seek stronger ties, the EU stresses the need to rebalance trade relations amid ongoing market access concerns.
U.S. President Donald Trump has announced a 25% tariff on imported cars, aiming to revive U.S. auto manufacturing and add jobs, despite uncertainty over its cross-border impact.
The U.S. auto industry is preparing for the impact of new trade policies, including 25 percent tariffs, set to take effect in April after a 30-day delay.
The White House has affirmed that U.S. President Donald Trump still intends to implement new reciprocal tariff rates on April 2, despite earlier remarks from Treasury Secretary Scott Bessent hinting at a possible delay.
Chinese state media warned on Tuesday that the United States could suffer significant economic harm as other countries retaliate against its tariffs with “high tariffs” on American goods.
Canada has initiated a formal dispute complaint against the United States at the World Trade Organization (WTO) over its imposition of import duties on certain steel and aluminium products from Canada.
The European Commission’s plan to impose additional duties on up to 26 billion euros ($28 billion) of U.S. imports could significantly disrupt Europe’s livestock sector, which heavily relies on imported grains for animal feed, according to industry association FEFAC.
The Bank of Canada trimmed its key policy rate by 25 basis points on Wednesday, lowering it to 2.75%, as concerns mount over inflationary pressures and weaker economic growth driven by renewed trade uncertainties and tariff threats.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
Mexico’s economy appears on track to contract in the first quarter, potentially plunging the country into a technical recession, as U.S. President Donald Trump’s fluctuating tariff policies disrupt growth that was already showing signs of weakness.
U.S. President Donald Trump reversed course on Tuesday, scaling back a planned 50% tariff on Canadian steel and aluminum just hours after announcing the sharp hike, following a retaliatory electricity surcharge threat from Ontario.
Concern over impending 25% tariffs on vehicles imported from Mexico and Canada has spurred U.S. car buyers to expedite their purchases, with many racing to dealer lots to lock in current prices before any increases take effect.
Ontario Premier Doug Ford has once again promised to cancel the province’s $100 million contract with Elon Musk’s Starlink, citing the recent imposition of U.S. tariffs on Canadian goods as the primary driver behind the decision.
Beijing advises the U.S. to engage with China before imposing new tariffs related to the fentanyl issue.
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
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