Trump said on Truth Social that the pharmaceutical tariffs would not apply to companies that are building manufacturing plants in the United States, which he defined as either “breaking ground” or being “under construction.”
The U.S. lowered tariffs on auto imports from the European Union to 15% retroactive to Aug. 1, cementing terms of the framework trade agreement the two sides struck almost two months ago.
FedEx is typically seen as a predictor of where the larger economy is headed because of its connections to businesses across the consumer and industrial sectors.
The call might offer clues about whether the two leaders could meet in person to hash out a final agreement to end their trade war and provide clarity on where relations between the world’s two superpowers may be headed.
The Supreme Court granted an unusually quick hearing on President Donald Trump’s sweeping tariffs on Tuesday, putting a policy at the center of his economic agenda squarely before the nation’s highest court.
The new rules place the burden of customs duty collection and remittance on transportation carriers or U.S. Customs and Border Protection-approved third parties, the Switzerland-based UPU said.
The ruling involves two sets of import taxes, both of which Trump justified by declaring a national emergency.
The threat comes as Trump also pressures drugmakers to lower prices of pharmaceuticals in the United States.
The national postal services of more than 30 countries have temporarily suspended sending some or most U.S.-bound packages.
With the announcement, Mexico joins several European and other countries, including Australia and Japan, in suspending the shipments to the U.S. amid confusion over new import duties.
The Indian government estimates the tariffs will impact $48.2 billion worth of exports.
U.S. production of crucial components in electric vehicles, smartphones and fighter jets is set to expand rapidly in the coming years, as the Trump administration intensifies efforts to build up the critical mineral industry in the United States.
Proponents of limiting the exemption argue that it has served as a way for China-founded retail platforms like Temu and Shein to flood the U.S. with low-priced goods.
The end of an exemption on tariff duties for low-value packages coming into the United States is causing multiple international postal services to pause shipping as they await more clarity on the rule.
Indianapolis-based Eli Lilly and Co. has operated in Ireland since the late 1970s and has more than 3,500 employees there.
As President Donald Trump talks about America becoming rich because of his import tax hikes, federal spending keeps outpacing the revenues collected by the government.
Americans are likely to absorb more trade-war costs in the coming months as Trump begins to finalize tariffs.
The previous deadline was set to expire at 12:01 a.m. Tuesday. Had that happened, the U.S. could have ratcheted up taxes on Chinese imports from an already high 30%.
Toyota’s production facility in Princeton, Indiana, is operated through its Toyota Motor Manufacturing Indiana subsidiary, which is the 15th-largest employer in the state.
Demand for computer chips has been climbing worldwide, with sales increasing 19.6% in the year-ended in June, according to the World Semiconductor Trade Statistics organization.
