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.
The U.S. Commerce Department has expanded steel and aluminium tariffs on Tuesday, to include more than 400 products, aiming to protect domestic industries.
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.
Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
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