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.
"I'll be setting tariffs next week and the week after on steel and on, I would say, chips," Trump told reporters aboard Air Force One as he headed to a meeting with Russian President Vladimir Putin in Alaska.
Trump explained that the new tariffs would start at a lower rate to give companies time to expand U.S. manufacturing, before increasing sharply later, following a similar approach he has used for pharmaceutical tariffs.
Trump’s trade policies have already disrupted global commerce, with steep tariffs on many countries’ exports and specific sectors like automotive.
Earlier this year, he raised steel and aluminum tariffs to 25% in February, then signaled a possible rise to 50% in May to support U.S. manufacturers.
While it’s unclear if further increases on metals are planned, Trump recently announced a 100% tariff on semiconductor imports, with exemptions for companies committing to U.S. production.
His announcement coincided with Apple revealing an additional $100 billion investment in its U.S. operations.
A 46-year-old Italian tourist has died after a major fire tore through a beachfront hotel in the Dominican Republic, forcing the evacuation of nearly ...
The wife of Spain’s Prime Minister Pedro Sanchez must stand trial on corruption charges and has been banned from leaving the country, a judge has ru...
Iran's top joint military command, Khatam al-Anbiya Central Headquarters, has said that the Strait of Hormuz is closed to ships again, citing a...
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of Engl...
One person has died after two freight trains collided on a bridge in Munich in the early hours of Saturday, causing two carriages to derail and crash ...
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.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
Morocco captain and PSG defender Achraf Hakimi will face trial in France after an appeals court ruled there was enough evidence for the case to proceed.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
U.S. President Donald Trump sought a deal with Iran "out of deperation," Iranian Supreme Leader Mojtaba Khamenei has said, in a statement on social media. Khamenei added that he himself "held a different view," to Trump, but allowed the agreement after receiving assurances from Iran's President.
A 46-year-old Italian tourist has died after a major fire tore through a beachfront hotel in the Dominican Republic, forcing the evacuation of nearly 1,700 guests and staff.
The wife of Spain’s Prime Minister Pedro Sanchez must stand trial on corruption charges and has been banned from leaving the country, a judge has ruled.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
One person has died after two freight trains collided on a bridge in Munich in the early hours of Saturday, causing two carriages to derail and crash onto the street below, German police said.
A magnitude 5.8 earthquake struck southwest of Greece’s island of Crete on Saturday, with no immediate reports of damage.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment