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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The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney held talks to improve bilateral ties, pledging renewed dialogue and cooperation. Despite recent tensions, both leaders expressed interest in pragmatic engagement and resolving key issues through open communication.
42 thousands of secondary school students sat for state exams in rebel-held eastern Congo this week, a complicated logistical feat requiring rare cooperation between the government and M23 rebels.
Ahead of the IAEA meeting in Vienna, Iran’s foreign minister reaffirmed the country’s refusal to halt uranium enrichment and warned Europe against seeking renewed UN sanctions, calling such efforts a “major strategic mistake.”
The European Union and Ukraine are negotiating a new agreement on agricultural import quotas, aiming to find a balance between pre-war trade limits and the temporary exemptions granted after 2022.
Eid al-Adha, known as the "Festival of Sacrifice," stands as one of Islam's most significant celebrations, commemorating Prophet Ibrahim's willingness to sacrifice his son in obedience to Allah's command.
A U.S. federal judge has temporarily blocked President Donald Trump’s attempt to bar foreign students from attending Harvard University, following a legal challenge filed by the institution.
Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney held talks to improve bilateral ties, pledging renewed dialogue and cooperation. Despite recent tensions, both leaders expressed interest in pragmatic engagement and resolving key issues through open communication.
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