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.
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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.
Trump announces sharper tariffs to take effect in a week, including 35% for Canada
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.
Trump announces 90-day negotiating period with Mexico as 25% tariff rates stay in place
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.
United States, China agree to work on extending the tariff pause deadline
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.
European Union defends US trade deal in face of mounting business criticism
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.
US-China tariff talks might provide clues on possible Trump-Xi meeting
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.
Trump, European Union reach preliminary trade deal with 15% tariffs
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.
Trump floats giving Americans rebate checks from tariff revenue
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.
Trump announces trade deal with Japan that lowers threatened tariff to 15%
Indiana receives the largest amount of Japanese investment per capita among all U.S. states, according to the Indiana Economic Development Corp.
United States imposes 17% duty on Mexican tomatoes
Proponents said the import tax announced Monday will help rebuild the shrinking U.S. tomato industry.