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.
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.
In a pair of executive orders, the president increased tariffs on merchandise from about 70 countries and raised the rate on products made in Canada, one of the United States’ largest trading partners, to a punitive percentage.
President Trump had threatened tariffs of 30% on goods from Mexico in a July letter, something that Mexico gets to stave off for the next three months.
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.
Indiana receives the largest amount of Japanese investment per capita among all U.S. states, according to the Indiana Economic Development Corp.
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.
