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.
President Donald Trump said the U.S. was considering "winding down" its military operation against Iran, as Iran and Israel traded attacks on Saturday (21 March) and Iranian media said the nuclear enrichment facility in Natanz had been attacked.
U.S. President Donald Trump warned that American forces could target Iranian power plants if the strategic Strait of Hormuz remains closed, and Iran, in return, warned that any attack on its energy infrastructure would trigger strikes on regional facilities.
Slovenia heads to the polls on Sunday (22 March) in a closely contested race between incumbent Prime Minister Robert Golob and right-wing former Prime Minister Janez Janša.
Italy is voting on 22 and 23 March in a judicial reform referendum that could reshape the justice system and test Prime Minister Giorgia Meloni’s political strength ahead of the 2027 general election.
Iceland could reopen talks on joining the European Union after a 13-year pause, as shifting security concerns and renewed economic debate bring EU membership back to the centre of national politics.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
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