Page 10 - Us Tariff

Mexico, EU revamp trade deal before Trump takes office with tariff threats

Mexico and the European Union on Friday announced a revamped trade agreement that they said would substantially increase trade and investment, days before the inauguration of US President-elect Donald Trump, who has threatened to slap sweeping tariffs on Mexico and other trading partners. The new Global Trade Agreement between Mexico and the 27-nation bloc would reduce Mexican tariffs of agri-food imports from Europe, remove a number of barriers that would allow European companies to more easily invest in Mexico and boost Mexican exports of raw materials like fluorspar (used in electronics) as well as antimony, copper, zinc and lead. The updated deal, which first entered into force 25 years ago, also seeks to facilitate strategic cooperation on key geopolitical issues, the European Union said in a statement. We have entered a new era in our strategic partnership with Mexico today. Our upgraded agreement shows the EU and Mexico united for freer trade and an open global economy," said

Plan for Mexico truck factory ongoing despite US tariff threat: Volvo CEO

The maker of Volvo and Mack semi-trucks has targeted growth in North America, which accounts for about 30 per cent of company revenue

Shooting itself in the foot - again: This trade barrier hurts India more

The real problem with India's trade policy lies in a seemingly innocent administrative procedure that doesn't sound half as dangerous as tariffs

India doing sector-wise analysis amid Trump tariff threat: Report

Government ministries and departments are examining different scenarios after US President-elect Donald Trump's open threat to impose reciprocal tariffs on Indian goods

India charges lot of tariff: Trump as he threatens to impose reciprocal tax

US President-elect Donald Trump has reiterated his intention to impose reciprocal tariffs in retaliation for the high tariff imposed by New Delhi on import of certain American products. Reciprocal. If they tax us, we tax them the same amount. They tax us. We tax them. And they tax us. Almost in all cases, they're taxing us, and we haven't been taxing them, Trump told reporters on Monday. He made the remarks while responding to a question on a potential trade agreement with China. Trump said India and Brazil were among countries that impose high tariffs on certain US products. The word reciprocal is important because if somebody charges us India, we don't have to talk about our own if India charges us 100 per cent, do we charge them nothing for the same? You know, they send in a bicycle and we send them a bicycle. They charge us 100 and 200. India charges a lot. Brazil charges a lot. If they want to charge us, that's fine, but we're going to charge them the same thing, Trump said a

The man who will shape 2025: Trump's tariffs and trade mirror US majority

In the realm of geopolitics, the world awaits Mr Trump's moves in respect of two hot spots, West Asia and Ukraine

Japan looks forward to talks with Trump that include cutting auto tariffs

US was Japan's biggest export destination in 2023 with cars and auto parts making up a third of shipments, according to Japan's Finance Ministry

California governor promotes trade with Mexico after Trump's tariff threats

Governor Newsom and California Attorney General Rob Bonta have emerged as prominent Democratic opponents of Trump's agenda, pledging to defend the state's liberal policies

Any US tariffs on Brics nations could impact semiconductor supply: Malaysia

Trade minister Tengku Zafrul Aziz said Malaysia was closely monitoring developments after US President-elect Donald Trump said Brics members would face 100 per cent tariffs

Trudeau told Trump US would also suffer if tariffs imposed: Canada's min

Prime Minister Justin Trudeau told Donald Trump that Americans would also suffer if the president-elect follows through on a plan to impose sweeping tariffs on Canadian products, a Canadian minister who attended their recent dinner said Monday. Trump threatened to impose tariffs on products from Canada and Mexico if they don't stop what he called the flow of drugs and migrants across their borders with the United States. He said on social media last week that he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders. Canadian Public Safety Minister Dominic LeBlanc, whose responsibilities include border security, attended a dinner with Trump and Trudeau at Trump's Mar-a-Lago club on Friday. Trudeau requested the meeting in a bid to avoid the tariffs by convincing Trump that the northern border is nothing like the U.S. southern border with Mexico. "The prime minister of course spoke about the importance of protecting the .

New measures imminent after Trudeau-Trump meeting: Canada's border minister

LeBlanc was one of a handful of Canadian officials who attended the dinner with Trump and Trudeau, where the two leaders discussed a wide range of issues

Canada's Trudeau returns home after meeting Trump without tariff assurances

Canadian Prime Minister Justin Trudeau returned home Saturday after his meeting with Donald Trump without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks "productive" but signalled no retreat from a pledge that Canada says unfairly lumps it in with Mexico over the flow of drugs and migrants into the United States. After the leaders' hastily arranged dinner Friday night at Trump's Mar-a-Lago club in Florida, Trudeau spoke of "an excellent conversation." Trump said in a Truth Social post later Saturday that they discussed "many important topics that will require both Countries to work together to address." For issues in need of such cooperation, Trump cited fentanyl and the "Drug Crisis that has decimated so many lives as a result of Illegal Immigration," fair trade deals "that do not jeopardize American Workers" and the US trade deficit with its ally to the north. Trump asserted tha

Trump threatens 100% tariff on Brics nations if they act to weaken dollar

President-elect Donald Trump on Saturday threatened 100 per cent tariffs against a bloc of nine nations if they act to undermine the US dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the US dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America's dominance of the global financial system. The dollar represents roughly 58 per cent of the world's foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar's dominance is threatened, however, with BRICS' growing share of GDP and the alliance's

Mexican President Sheinbaum confident of averting tariff war with US

Mexican President Claudia Sheinbaum said Thursday she is confident that a tariff war with the United States can be averted. But her statement the day after she held a phone call with US President-elect Donald Trump did not make clear who had offered what. There will be no potential tariff war, Sheinbaum said flatly when asked about the issue at her daily morning news briefing. On Wednesday, Trump wrote that Sheinbaum had agreed to stop unauthorised migration across the border into the United States. She wrote on her social media accounts the same day that migrants and caravans are taken care of before they reach the border. But whether that constituted a promise, a pledge or a simple statement of reality remains unclear. In recent years, migrants who have been unable to obtain permission to cross Mexico have joined together in caravans to walk or hitchhike north toward the US border, seeking safety in numbers. In fact, apart from the first caravans in 2018 and 2019 which were .

Nissan Oct production down globally except Mexico amid Trump tariff threat

Nissan's worldwide output for October decreased 6 per cent from the same month a year earlier to 290,848 vehicles

China urges US to 'immediately' lift all tariffs on Chinese-made goods

US is expected to make its final determination in the coming days after delaying a decision twice

Indian steel mills fear surge in Chinese imports after US imposes tariffs

India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries, said Alok Sahay, secretary general at ISA

China to take 'resolute measures' in response to US tariff hikes on imports

US President Joe Biden has directed his Trade Representative to increase tariffs on USD 18 billion of imports from China

China protests against new US tariffs, promises to protect its interests

China's Commerce Ministry also said that the move is against US President Joe Biden's earlier stand of not seeking to 'contain' or 'decouple' with Beijing

US makers of masks, gloves get lifeline from tariffs on Chinese products

Biden's tariffs could boost demand by helping level a price differential with cheap imports from China, and could foster investments