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.
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overn...
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the st...
Ukrainian President Volodymyr Zelenskyy's aircraft was nearly struck by a drone while departing Moldova on ...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
Indonesia has reopened Jakarta's main airport and four others after volcanic ash from Mount Anak Krakatau forced widespread flight cancellations, though fresh eruptions have kept authorities on alert.
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the strikes a response to a U.S. attack on five Iranian tankers.
Ukrainian President Volodymyr Zelenskyy's aircraft was nearly struck by a drone while departing Moldova on its way to Norway, according to Norwegian Prime Minister Jonas Gahr Støre.
The United Nations has called for an immediate ceasefire in Sudan, warning that escalating drone warfare and attacks on civilian infrastructure are deepening the country's already devastating humanitarian crisis.
Climate leaders in Baku are calling for a shift from climate commitments to concrete action as day three of Baku Climate Action Week focuses on implementation, cooperation and measurable results.
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