The U.S. Commerce Department has expanded steel and aluminium tariffs on Tuesday, to include more than 400 products, aiming to protect domestic industries.
The new tariffs target items such as wind turbines, mobile cranes, bulldozers, railcars, furniture, compressors, pumps, and imported automotive parts including exhaust system components and electrical steel for electric vehicles.
Some foreign automakers had opposed the inclusion of these automotive parts, citing insufficient domestic capacity to meet demand. The tariffs take effect immediately.
"Today’s action expands the reach of the steel and aluminium tariffs and shuts down avenues for circumvention – supporting the continued revitalisation of the American steel and aluminium industries," said Under Secretary of Commerce for Industry and Security Jeffrey Kessler.
Steelmakers, including Cleveland Cliffs, had petitioned the administration to extend the tariffs to additional auto parts.
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India’s foreign minister says trade talks with Washington are ongoing, but New Delhi must defend its key interests as U.S. tariffs loom.
The Congressional Budget Office (CBO) said Friday that continued global tariff hikes imposed by President Donald Trump could shrink the national deficit by $4 trillion over the next ten years.
Brazilian President Lula da Silva and French President Emmanuel Macron discussed U.S. tariffs and the Mercosur-EU trade deal in a phone call, aiming to finalise the long-awaited agreement by year-end.
Brazil’s President Luiz Inacio Lula da Silva announced on Tuesday a $5.55 billion credit plan to support exporters affected by recent U.S. tariff hikes, with additional backing through government purchases expected.
A majority of Russians expect the war in Ukraine to end in 2026, state pollster VTsIOM said on Wednesday, in a sign that the Kremlin could be testing public reaction to a possible peace settlement as diplomatic efforts to end the conflict intensify.
Thailand and Cambodia both reported fresh clashes on Wednesday, as the two sides prepared to hold military talks aimed at easing tensions along their shared border.
Military representatives from Cambodia and Thailand met in Chanthaburi province on Wednesday ahead of formal ceasefire talks at the 3rd special GBC meeting scheduled for 27th December.
Libya’s chief of staff, Mohammed Ali Ahmed Al-Haddad, has died in a plane crash shortly after departing Türkiye’s capital, Ankara, the prime minister of Libya’s UN-recognised government has said.
The White House has instructed U.S. military forces to concentrate largely on enforcing a “quarantine” on Venezuelan oil exports for at least the next two months, a U.S. official told Reuters, signalling that Washington is prioritising economic pressure over direct military action against Caracas.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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