U.S. President Donald Trump on Tuesday doubled down on his global tariff campaign, warning China, the pharmaceutical industry, and foreign manufacturers of steep levies unless they strike new trade deals with the United States.
Speaking at a Republican fundraiser in Washington, Trump accused China of manipulating its currency to soften the blow of the 104% tariffs his administration has imposed on Chinese imports. He called the move "a trick in the book" and said it would backfire as China remains energy-dependent. "They have to buy oil. We don’t,” Trump said. “That’s where it hurts them.”
The president also signalled new tariffs are coming for another major sector: pharmaceuticals.
“We’re going to tariff our pharmaceuticals,” Trump declared. “Once we do that, they’ll come rushing back. We are the big market.”
He highlighted Taiwan Semiconductor Manufacturing Company (TSMC) as an example of economic leverage, claiming the firm agreed to invest $200 billion in Arizona without receiving U.S. subsidies. “All I said was, if you don’t build here, you’ll pay up to 100% tax,” Trump said. “No handouts.”
The remarks also included political overtones. Trump claimed all 50 U.S. states have shifted Republican and predicted a strong showing in the 2026 midterms. “They’re terrified our strategy will succeed,” he said, framing opposition to his policies as “treason.”
The comments come amid worsening market jitters over Trump’s sweeping tariffs, which have impacted global trade and driven Wall Street losses. Despite the backlash, the president maintains his stance: “We’re making $2 billion a day. They used to call that peanuts. Not anymore.”
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Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
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The U.S. will retain control of oil and ships seized off Venezuela’s coast, President Donald Trump announced on Monday.
Israeli Prime Minister Benjamin Netanyahu is set to meet President Donald Trump on 29 December in Florida, where he is expected to present a package of military options regarding Iran, Israel’s public broadcaster KAN reported on Saturday.
The United States has proposed a potential new format for peace talks between Ukraine and Russia, which could include American and European representatives, Ukrainian President Volodymyr Zelenskyy said on Saturday, December 20.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
U.S. President Donald Trump has approved plans to construct a new class of battleships, which he described as larger, faster and significantly more powerful than any previous U.S. warship. His administration has referred to these ships as “Trump-class.”
The U.S. will retain control of oil and ships seized off Venezuela’s coast, President Donald Trump announced on Monday.
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