China said the two sides had “in-depth, candid and constructive” discussions and agreed to work on extending a pause in tariffs beyond an Aug. 12 deadline for a trade deal for another 90 days.
The pact removes a major risk for markets and the global economy, given the transatlantic partners did $2 trillion worth of cross-border commerce in 2024.
Top trade officials from China and the United States launched a new round of talks on Monday in a bid to ease tensions over tariffs between the world’s two biggest national economies.
President Trump and European Commission President Ursula von der Leyen sought to paint the accord as “the biggest deal ever made,” but it was unclear if they were on the same page about how steel and other critical products would be affected.
U.S. revenue from customs duties this fiscal year surpassed $100 billion for the first time, highlighting the higher tariffs Trump has levied in his bid to reshape global trade flows and bring more manufacturing to the U.S.
Lilly previously secured approval for Kisunla in the U.S., Japan and the U.K.
Indiana receives the largest amount of Japanese investment per capita among all U.S. states, according to the Indiana Economic Development Corp.
The automaker, which earlier this year laid off workers in Kokomo, anticipates an impact of about $351 million for net tariffs incurred, as well as planned production losses.
Proponents said the import tax announced Monday will help rebuild the shrinking U.S. tomato industry.
President Trump has long boasted of his friendly relationship with Russian President Vladimir Putin, but Russia’s relentless onslaught against civilian areas of Ukraine wore down Trump’s patience.
The value of EU-U.S. trade in goods and services amounted to $2 trillion in 2024. Europe’s biggest exports to the U.S. are pharmaceuticals, cars, aircraft, chemicals, medical instruments and wine and spirits.
While multiple countries have received tariff letters this week, Canada—the United States’ second largest trading partner after Mexico— has become something of a foil to President Trump.
Lawmakers called the program a threat to national security and a “nefarious mechanism” to steal technology for the Chinese government.
The tariff, effective Aug. 1, opens a new theater in Trump’s ongoing trade war, bringing into the fray Latin America’s largest economy, which had until now remained largely unscathed by the trade measures.
In a string of near-identical letters posted on Truth Social, his social media site, President Trump said the United States “has agreed to continue working with” each country despite large trade deficits.
President Trump provided notice of the tariffs to begin on Aug. 1 by posting letters on Truth Social that warned both countries to not retaliate by increasing their own import taxes.
The two sides continued to talk during the weekend in hopes of finalizing by Wednesday a patchwork deal that would pave the way for more comprehensive negotiations.
Vietnam is one of Indiana’s top 10 trade partners in terms of imports.
The digital services tax was set to go into effect Monday and was due to hit companies including Amazon, Google, Meta, Uber and Airbnb.
In all, production of more than 15 models of front load washers will shift to the company’s sprawling Louisville production complex—known as Appliance Park.
