Trump threatens Canada with 50% tariff on aircraft sold in US, expanding trade war
The threat is the latest salvo in President Trump’s trade war with America’s northern neighbor as his feud with Prime Minister Mark Carney expands.
The threat is the latest salvo in President Trump’s trade war with America’s northern neighbor as his feud with Prime Minister Mark Carney expands.
South Korean Industry Minister Kim Jung-Kwan, who is currently visiting Canada, will soon travel to the U.S. for talks with Secretary of Commerce Howard Lutnick.
Beijing paused any purchase of U.S. soybeans last summer during its trade war with Washington, D.C., but agreed to resume buying from American soybean farmers after President Trump and Chinese leader Xi Jinping met in South Korea and agreed to a truce.
The 191-nation International Monetary Fund said the world economy “continues to show notable resilience despite significant U.S.-led trade disruptions and heightened uncertainty.”
Some of Trump’s unrealized threats reflect a broader approach from a president with a track record of using sky-high levies to pressure other countries into new trade deals.
The United States-Mexico-Canada trade pact, or USMCA, is up for review in 2026. U.S. President Donald Trump negotiated the deal in his first term and included a clause to possibly renegotiate the deal in 2026.
President Trump has been under pressure to approve an aid package for farmers, who have struggled under sinking crop prices and increasing costs for equipment, fertilizer and other production expenses.
The aid comes amid rising frustration among farmers on the slow pace of Chinese purchases, which Beijing clamped down on earlier this year in retaliation for Trump’s escalating tariff barrage.
At issue in the pair of combined cases before the Supreme Court is whether the president exceeded his authority by relying on a 1977 law to impose the tariffs.
Costco joins dozens of other companies including motorcycle manufacturer Kawasaki and canned foods maker Bumble Bee that have filed suits seeking tariff refunds.
The Trump administration said that in return, U.K. drugs firms committed to invest more in the U.S. and create more jobs.
A drop in imports and the trade deficit is good for economic growth because foreign products are subtracted from the nation’s gross domestic product.
Progress in one dimension—whether in employment, nutrition or economic development—often creates new problems that we struggle to solve.
The ruling could be a make-or-break political moment for Trump’s presidency. He has made tariffs central to his tenure, wielding them as leverage not only in trade negotiations but in a wide range of disputes both large and small.
President Trump has called the case one of the most important in the country’s history and said a ruling against him would be “catastrophic” for the economy.
The Chinese promise to buy at least 25 million metric tons of soybeans annually for next three years will bring their purchases back in line with where they were before President Donald Trump launched his trade war with China in the spring.
President Donald Trump described his face-to-face meeting with Chinese leader Xi Jinping on Thursday as a roaring success.
China’s top trade negotiator told reporters the two sides had reached a “preliminary consensus,” while Trump’s treasury secretary said there was “a very successful framework.”
The pledge to slap additional fees on imports from Canada marks the latest escalation in trade tensions between the two countries.
The data for Friday’s report was gathered before Oct. 1, but price data for October isn’t being gathered due to the government shutdown, and the Trump administration suggested Friday that an inflation report won’t be released next month.