The freeze on President Donald Trump’s reciprocal tariffs ended on Friday, triggering new duties that Ford says have already cost it $2 billion and prompting warnings from global manufacturers and U.S. allies.
In a special Newshour segment, AnewZ's Guy Shone said the expiry of the tariff pause marked “the looming spectre of higher tariffs once again.” Correspondent Kate Fischer, reporting from Washington, said Ford’s estimate of a $2 billion hit from duties on steel and aluminium was “a very real price tag on what some are calling an economic gamble with global consequences.”
Ford said it had paid an additional $800 million in tariffs in the three months to June despite producing most of its cars in the United States. General Motors and Volkswagen have reported similar losses of about $1 billion and $1.5 billion, respectively.
At the same time, the White House hailed a new U.S.-EU trade agreement that reduces most European export tariffs to 15 %, down from a threatened 30 %. The deal commits the EU to $750 billion in U.S. energy purchases and $600 billion in investment by 2028. However, a 50 % tariff on imported steel and aluminium remains in place.
French Prime Minister Francois Bayrou called the accord “a dark day for the bloc,” while German Chancellor Friedrich Mertz said it risked “considerable damage” to European exporters.
AnewZ correspondent Oubai Shahbandar said the administration had made clear there would be no further extensions to the suspension. President Trump posted online that tariffs would “make America rich and great again,” despite calls from automakers for more time to adjust.
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Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
European nations are working with Ukraine on a new ceasefire proposal along current battle lines, aiming to keep the United States in a central role, four European diplomats told reporters on Tuesday.
The leaders of 19 European Union nations have called on the bloc to launch a renewed effort to “review, reduce and restrain” legislation in order to boost economic competitiveness, according to a letter seen by Reuters on Tuesday.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
President Donald Trump rejected a request from leading Democratic lawmakers to meet until the three-week-old U.S. government shutdown is brought to an end on Tuesday.
A Colombian court has overturned former President Álvaro Uribe’s convictions for fraud and bribery, halting a years-long legal saga that had made him the country’s first ex-leader to face criminal sentencing.
A Jan. 6 rioter who was pardoned by President Donald Trump has been charged with making terroristic threats after allegedly sending text messages that threatened to kill House Democratic Leader Hakeem Jeffries, according to a felony complaint filed in New York state court.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
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