US cuts tariffs on EU-made cars to 15%, cementing trade terms
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.
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FedEx reinstates profit forecast, but expects $1B hit as tariffs upend parcel business
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.
Trump, Xi set to discuss TikTok deal and future of US-China relations
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.
Supreme Court to quickly consider if Trump has power to impose sweeping tariffs
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.
Postal traffic to US plunged as tariffs hit cheap goods, U.N. agency says
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.
Trump asks Supreme Court to quickly take up tariffs case, reverse ruling finding them illegal
The ruling involves two sets of import taxes, both of which Trump justified by declaring a national emergency.
Trump plans hefty tax on imported drugs, risking higher prices, shortages
The threat comes as Trump also pressures drugmakers to lower prices of pharmaceuticals in the United States.
Duty-free no more: Parcels worth less than $800 no longer qualify for tariff exemption
The national postal services of more than 30 countries have temporarily suspended sending some or most U.S.-bound packages.
Mexico suspending postal shipments to United States over latest tariff confusion
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.
Trump’s 50% tariffs on India over Russian oil purchases take effect
The Indian government estimates the tariffs will impact $48.2 billion worth of exports.
Trump administration investing in US rare earths in push to break China’s grip
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.
Tariff exemption for small orders set to end in big deal for some shoppers, businesses
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.
European postal services suspend shipment of packages to US over tariffs
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.
Ireland’s exports to US plunge after tariff-induced surge, likely related to pharma stockpiling
Indianapolis-based Eli Lilly and Co. has operated in Ireland since the late 1970s and has more than 3,500 employees there.
US July budget deficit up 20% year-over-year despite record Trump tariff income
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.
US inflation held steady as mild tariff hit offset by cheaper gas, food
Americans are likely to absorb more trade-war costs in the coming months as Trump begins to finalize tariffs.
US, China extend trade truce, easing tension between world’s largest economies
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 reports 37% drop in profit, cuts forecast due to Trump’s tariffs
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.
Trump plans 100% tariff on computer chips, unless companies build in United States
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.
Crucial exemption allows most Canadian, Mexican goods to be shipped to US without tariffs
The vast majority of goods exported to the United States by Canada and Mexico are shielded from tariffs under the 2020 United States-Mexico-Canada Agreement that President Trump negotiated during his first term.