U.S. President Donald Trump has indicated that he is prepared to take a more flexible stance on new tariffs for automobiles and other goods than initially expected.
Previously, the president had announced plans to impose duties on various products, including cars, steel, aluminum, and pharmaceuticals.
"We will announce our decision on cars very soon. Steps have already been taken regarding steel and aluminum. As for pharmaceuticals, we will make an announcement in the near future because we need them. We no longer manufacture pharmaceuticals in our country," Trump stated.
The president also mentioned that some countries might be exempt from these tariffs, though he did not provide specific details. This statement sparked optimism among investors, leading to a rise in U.S. stock markets.
Nevertheless, White House officials emphasized that Trump remains committed to his trade policy and the imposition of strong reciprocal tariffs. According to the administration, these measures will both increase government revenue and create new jobs.
Hyundai to Begin Production in the U.S.
Trump also announced that South Korean automaker Hyundai will invest $21 billion in the U.S. The company plans to start manufacturing cars and steel domestically. According to the president, this investment will allow Hyundai to avoid tariffs:
"If you manufacture your products in America, no tariffs apply," Trump noted.
New Trade Sanctions Against Venezuela
The U.S. president has taken another aggressive step in trade policy, unveiling a new tariff strategy targeting Venezuela. Under the new policy, any country purchasing oil or gas from Venezuela will face a 25% tariff on exports to the U.S.
Trump also criticized the Venezuelan government, alleging that the country has sent "tens of thousands of violent individuals" to the U.S.
In response, Venezuelan authorities condemned the move, calling it "a new act of aggression." Following Trump's announcement, oil prices surged, with U.S. benchmark WTI crude rising by approximately 1% during Monday’s trading session.
Trump’s latest trade policies remain in the spotlight for businesses and investors. In the coming weeks, all eyes will be on how the tariff strategy evolves.
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European nations are reportedly collaborating with Ukraine on a 12-point plan aimed at ending Russia’s conflict along the existing front lines, according to Bloomberg News on Tuesday.
Syrian civil defence teams have discovered a new mass grave east of Douma, near the capital Damascus, recovering the remains of 20 people — most of them women and children.
China’s imports of Russian crude oil increased in September, highlighting Beijing’s continued energy cooperation with Moscow despite persistent pressure from the United States to desist.
Tehran and Baku have pledged to increase cooperation between the two countries across all fields, after an all-important meeting on Monday in Iran's capital city.
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.
European nations are reportedly collaborating with Ukraine on a 12-point plan aimed at ending Russia’s conflict along the existing front lines, according to Bloomberg News on Tuesday.
Syrian civil defence teams have discovered a new mass grave east of Douma, near the capital Damascus, recovering the remains of 20 people — most of them women and children.
China’s imports of Russian crude oil increased in September, highlighting Beijing’s continued energy cooperation with Moscow despite persistent pressure from the United States to desist.
Several countries and international organisations have welcomed the ceasefire agreement between Afghanistan and Pakistan, describing it as a vital step towards easing tensions and fostering regional stability.
U.S. Vice President JD Vance was holding talks in Israel on Tuesday as Washington tries to stabilise the first, shaky, phase of the Gaza ceasefire and push Israel and Hamas towards the harder concessions asked of each side in coming talks.
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