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.
The value of EU-U.S. trade in goods and services amounted to $2 trillion in 2024. Europe’s biggest exports to the U.S. are pharmaceuticals, cars, aircraft, chemicals, medical instruments and wine and spirits.
While multiple countries have received tariff letters this week, Canada—the United States’ second largest trading partner after Mexico— has become something of a foil to President Trump.
The tariff, effective Aug. 1, opens a new theater in Trump’s ongoing trade war, bringing into the fray Latin America’s largest economy, which had until now remained largely unscathed by the trade measures.
In a string of near-identical letters posted on Truth Social, his social media site, President Trump said the United States “has agreed to continue working with” each country despite large trade deficits.
President Trump provided notice of the tariffs to begin on Aug. 1 by posting letters on Truth Social that warned both countries to not retaliate by increasing their own import taxes.
The two sides continued to talk during the weekend in hopes of finalizing by Wednesday a patchwork deal that would pave the way for more comprehensive negotiations.
Vietnam is one of Indiana’s top 10 trade partners in terms of imports.
President Trump’s shifting stances on trade and tariffs have upended the planning of many companies that provide parts and equipment to big automakers.
Canada is the largest foreign supplier of steel, aluminum and uranium to the United States and has 34 critical minerals and metals that the Pentagon is eager for.
The president said the U.S. will provide China “what was agreed to,” including allowing Chinese students to attend American colleges and universities.
The company will add production of the gas-powered Chevrolet Blazer and Chevrolet Equinox, which are made in Mexico, to two American plants starting in 2027.
The data showes that tariffs haven’t yet pushed overall prices higher, which suggests that many companies could be absorbing the cost of the higher duties, for now.
The announcement followed two days of talks in the British capital that ended late Tuesday.
A new analysis estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years in lost gross domestic product.
High-level delegations from the United States and China are meeting in London on Monday to try and shore up a fragile truce in a trade dispute that has roiled the global economy.
President Donald Trump said Thursday that his first call with Chinese leader Xi Jinping since returning to office was “very positive.”
Economists warn that the latest tariffs could significantly squeeze the wallets of both companies and shoppers alike.
President Trump hopes the increased levies will protect margins for domestic mills and spur investment in new production capacity.
A look around a supermarket makes it clear how many products could be impacted by new taxes on steel and aluminum, from beer and soda to dog food to can after can of beans, fruit, tomato paste and more.
