President Donald Trump stepped back—slightly. On Tuesday, he signed a new order softening his auto tariffs just days before fresh 25% duties were set to hit imported car parts.
The move offers temporary relief. U.S. carmakers will be able to claim credits worth up to 15% of the value of vehicles assembled domestically, using them to offset import costs. It’s a narrow path to stability in an industry still caught in a whirlwind.
The White House framed it as a measure of support. “We didn’t want to penalise them,” Trump said before heading to Michigan, home of the U.S. auto legacy. But behind the words lies a deeper tension—between protectionist ambition and economic disruption.
Auto firms had been lobbying hard. The tariffs threatened a production model that spans borders—integrating U.S., Mexican, and Canadian supply chains. General Motors, facing the uncertainty head-on, withdrew its annual forecast and delayed its investor call.
Others followed. UPS announced 20,000 job cuts. Electrolux and Kraft Heinz warned that chaotic trade policies are making long-term planning almost impossible. In total, more than 40 companies have adjusted their earnings guidance in just two weeks.
Markets, for now, responded with optimism. A vague signal from Commerce Secretary Howard Lutnick—claiming a deal with a foreign partner, pending local approval—helped lift stocks. The S&P 500 closed higher for a sixth straight session.
But the fundamentals are softening. U.S. GDP is expected to have grown by just 0.3% in the first quarter, dragged down by import surges and consumer stockpiling. Trump’s 90-day pause on broader tariffs has done little to calm broader fears.
His administration hopes to finalise 90 trade deals in the same 90 days. But for most businesses, the clock is ticking louder than the promises.
“Every single prediction has been proved wrong,” said Electrolux CEO Yannick Fierling. At this point, markets aren’t asking for precision—they’re asking for clarity.
One person was killed and nearly a dozen hurt in a new attack Riyadh's international airport on Sunday, Saudi ...
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The explosion at King Khalid International Airport in Riyadh on Saturday afternoon killed at least 12 people and injured a further 309, according to Saudi Arabia’s Civil Aviation Authority. The airport remains closed until further notice.
One person was killed and nearly a dozen hurt in a new attack Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis that killed 13 people and wounded more than 300.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
Ukraine is ready to stop attacks on Russian oil refineries if Moscow also halts strikes on Ukrainian energy infrastructure, President Volodymyr Zelenskyy said on Sunday.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Here's your AnewZ Daily Brief for 12 October 2026 with the top five natural disasters happening around the world.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
Ukrainian President Volodymyr Zelenskyy said on Monday that Ukraine is ready to respect the energy ceasefire announced by U.S. President Donald Trump, but only if Russia does the same, saying Moscow has already violated the agreement.
China has announced sanctions against Belize’s foreign minister and Paraguay’s communications minister over their countries’ diplomatic ties with Taiwan. The move comes as Beijing continues to pressure the few remaining nations that maintain formal diplomatic relations with Taipei.
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