U.S. President Donald Trump announced plans for new tariffs on steel and semiconductor imports, aiming to boost domestic manufacturing while offering initial exemptions for companies investing in the U.S.
From McDonald’s and Coca-Cola to Apple and Amazon, some of America’s biggest brands are facing boycott calls in India after Washington imposed steep 50% tariffs on Indian goods.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
India and Russia reaffirmed their strategic partnership just a day after the U.S. imposed steep tariffs on Indian goods over its continued oil trade with Moscow.
More tariffs, more tension — President Donald Trump has triggered a sweeping new round of import duties, hitting 69 countries and pressurising major economies. The move comes as he celebrated his excitement on Truth Social late Wednesday about the billions of dollars expected to flow into the U.S.
On Thursday, the U.S. President Trump raised tariffs on Canadian imports from 25% to 35%, citing drug smuggling concerns, a claim dismissed by Canadian Prime Minister Mark Carney, who vowed to protect jobs during rising trade tensions.
South Africa could lose around 100,000 jobs due to the 30% U.S. import tariff set to take effect on 1 August, according to he Governor of the South African Reserve Bank (SARB) Lesetja Kganyago. The agriculture and auto sectors face the hardest hit, especially citrus, grapes, and wine.
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