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.
In a retaliatory move against new U.S. tariffs, China’s Commerce Ministry announced Tuesday that it will impose additional tariffs of up to 15% on key U.S. agricultural products, while also expanding controls on business activities with major U.S. companies.
In response to the 25% tariffs recently imposed by the United States, President Claudia Sheinbaum announced Tuesday that Mexico will implement its own retaliatory tariffs on U.S. goods.
Shares in European carmakers and automotive suppliers fell sharply on Tuesday after the U.S. implemented a 25% tariff on imports from Mexico, a key production hub for the automotive sector supplying the American market.
U.S. Commerce Secretary Howard Lutnick announced on Sunday that tariffs on imports from Mexico and Canada are scheduled to go into effect on Tuesday. However, he indicated that the final tariff rates, which could reach a planned 25%, will be set by President Donald Trump and his team.
U.S. Commerce Secretary Howard Lutnick announced on Sunday that tariffs on imports from Canada and Mexico will go into effect on Tuesday, though the exact rates remain uncertain.
Canada, Mexico and the European Union are pushing back against the U.S. decision to increase tariffs on goods. With the March 4 deadline approaching, concerns over supply chain disruptions, rising consumer prices, and a potential global trade war are escalating.
China has called on the United States to cease its investigation into potential new tariffs on copper imports, warning that any imposition of tariffs could provoke retaliatory measures.
U.S. President Donald Trump said on Wednesday that his administration is preparing to impose a 25% tariff on imports from the European Union, a move aimed at addressing longstanding trade disparities.
President Donald Trump held his first cabinet meeting at the White House, turning the event into a question-and-answer session that stretched for over an hour.
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