President Trump has suggested that the expected new round of tariffs on April 2 will not be as severe as initially planned. He said, “I’ll probably be more lenient than reciprocal, because if I was reciprocal, that would be very tough for people.”
He has followed through with his 25% tariff on all imported vehicles, as well as issuing a new round of threats to the EU and Canada that if they plan “economic harm” he will raise the tariff rates in response.
Trump warns of greater EU, Canada tariffs if they plan “economic harm” against US– seekingalpha.com Source Link Excerpt:
U.S. President Donald Trump said on Truth Social on Thursday that his administration would impose greater tariffs on the EU and Canada if they collaborate to do “economic harm” to the country.
“If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump posted.
This marks the latest escalation of Trump’s tariff war with the world.
European Commission President Ursula von der Leyen responded to Trump’s statement, reiterating that “Tariffs are taxes – bad for businesses, worse for consumers equally in the U.S. and the EU.”
The European Union is targeting Google and Apple for Antitrust violations that could force one company, Apple, to alter its product significantly, and Google over 10% of its global revenue. The UK is following suit by threatening to prosecute U.S. social media companies that don’t comply with their soviet and Muslim-compliant brand of censorship.
The Trump administration had previously threatened countries with tariff retaliation that target American companies in the way the UK and the EU just did.
Social media platforms face fines and criminal prosecution in UK – Marketing Tech Source Link Excerpt:
The UK Online Safety Act officially came into force on Monday, March 17, 2025, granting Ofcom extensive new powers to hold social media platforms accountable for illegal content.
Under the landmark legislation, technology companies must take proactive measures to detect and remove harmful material or face penalties of up to £18 million or 10% of their global revenue, whichever is higher.
New enforcement powers target illegal content
Technology firms must do more to tackle illegal content on their platforms as Ofcom begins enforcing the Online Safety Act’s illegal content codes.
From Monday, the regulator has started requiring social media companies to find and remove content such as child sexual abuse material, terrorism-related content, hate crimes, content encouraging suicide, and fraud.
Technology secretary Peter Kyle described the changes as “a major step forward in creating a safer online world.” He added that “for too long”, child abuse material, terrorist content, and intimate image abuse have been “easy to find online.” Still, social media platforms now have a legal duty to prevent and remove such material.
“Platforms must now act quickly to comply with their legal duties, and our codes are designed to help them do that,” said Suzanne Cater, enforcement director at Ofcom. “But, make no mistake, any provider who fails to introduce the necessary protections can expect to face the full force of our enforcement action.”
Europe targets Apple and Google in antitrust crackdown, risking fresh Trump tariff clash – Fortune Source Link Excerpt:
In a move that risks enraging the Trump administration, the European Commission has announced major antitrust enforcement decisions against Google and Apple.
US says ready to confer with China, Canada on WTO disputes – MSN Source Link Excerpt:
The U.S. mission told China and Canada it was ready to confer with its officials in Geneva after those two countries filed trade disputes in response to new tariffs, World Trade Organization documents showed on Tuesday.
Canada requested consultations – the first step in a WTO trade dispute – earlier this month in response to “unjustified tariffs” imposed by U.S. President Donald Trump earlier this month.
Trump doubles down on tariffs as stocks sink: ‘not going to bend’– www.cnbc.com Source Link Excerpt:
President Donald Trump on Thursday doubled down on his escalating tariff plans, even as his economic agenda continued to rattle investors and contribute to a weekslong stock market sell-off.
“I’m not going to bend at all,” Trump said when asked about his tariff plans during an Oval Office meeting with NATO Secretary General Mark Rutte.
Trump specifically said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House has said those tariffs are set to take effect April 2.
Trump’s comments came as major stock indexes continued to tumble Thursday, with the S&P 500 falling 10% from its recent highs and entering correction territory.
Canada Launches WTO Complaint On US Steel, Aluminium Tariffs– www.ndtv.com Source Link Excerpt:
Canada launched a complaint with the World Trade Organization on Thursday over US President Donald Trump’s across-the-board imposition of 25-percent tariffs on steel and aluminium imports.
The steep levies, which came into force on Wednesday, contained no exemptions despite countries’ efforts to avert them.
“Canada has requested WTO dispute consultations with the United States regarding the imposition by the United States of import duties on certain steel and aluminium products from Canada,” the WTO said.
“Canada claims that the measures, which terminate Canada’s exemption from additional duties on certain steel and aluminium products and increase duties on aluminium articles, and which took effect on March 12, are inconsistent with US obligations,” the global trade body said.
‘Wave of nationalism’: Trump tariffs are good politics in Canada and Mexico – USA TODAY Source Link Excerpt:
Approval ratings for Canadian and Mexican leaders are skyrocketing amid popular outrage in those countries over President Donald Trump’s tariff threats − as his own approval ratings have slipped among Americans.
As Trump is poised to slap steep tariffs on America’s northern and southern neighbors − and has floated swallowing up Canada as the “51st state” − leaders in Mexico and Canada are defiant.
On Tuesday, Trump said he would double tariffs on Canadian steel and aluminum from 25% to 50% after Ontario announced a 25% surcharge on the Canadian province’s electricity exports to Michigan, Minnesota and New York. Ontario backed down.
Trump threatens to put 200% tariff on French Champagne and other EU spirits– www.cnbc.com Source Link Excerpt:
U.S. President Donald Trump said Thursday he plans to put a 200% tariff on alcohol from France and other European nations in the latest escalation of global trade tensions.
The U.S. tariff comes after the European Union moved to reinstate an import tax on American whiskey.
“The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S.,” Trump said on Truth Social.
India won’t budge on its current tariff levels after U.S. tariffs recently took effect. Canada has clawed back some its promised threats but continues to pursue the U.S. legally in world courts. One potential unexpected cost of the tariffs is the rise in patriotism in both Mexico and Canada, as well as a rise in support for the incumbent leaders in both nations as well.
Europe might yet face more tariffs, with Trump warning, “The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S.”
The economy is producing mixed signals, which include a down stock market, but an unexpected decrease in inflation. President Trump is doubling down, saying “I’m not backing down,” seeming to acknowledge things might get more difficult before they get better, but that, in the end, he said, “I hate to predict things like that. There is a period of transition because what we’re doing is very big, we’re bringing back wealth to America.” Read blurb report
Trump doubles down on tariffs as stocks sink: ‘not going to bend’– www.cnbc.com Source Link Excerpt:
President Donald Trump on Thursday doubled down on his escalating tariff plans, even as his economic agenda continued to rattle investors and contribute to a weekslong stock market sell-off.
“I’m not going to bend at all,” Trump said when asked about his tariff plans during an Oval Office meeting with NATO Secretary General Mark Rutte.
Trump specifically said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House has said those tariffs are set to take effect April 2.
Trump’s comments came as major stock indexes continued to tumble Thursday, with the S&P 500 falling 10% from its recent highs and entering correction territory.
India Says “No Commitments” To Tariff Cuts After Trump’s Tax Cut Claim– www.ndtv.com Source Link Excerpt:
India says it has not committed to slashing import duties on US products, days after President Donald Trump announced that New Delhi had agreed to “cut their tariffs way down”.
Only weeks into his second term, Trump has upended global trade, targeting friends and foes alike. He has also blamed all trading partners of “unfair” practices, and has announced reciprocal tariffs on many countries, including India, to begin from next month.
Trump once again railed at India’s “massive tariffs” last week.
“You can’t sell anything into India, it is almost restrictive,” Trump said.
“They have agreed, by the way, they want to cut their tariffs way down now because somebody is finally exposing them for what they have done,” he added.
But the Indian government told a parliamentary panel that “no commitments had been made to the US on the issue,” a report in The Times of India newspaper said Tuesday.
The government “has sought time until September to address the issue that is being repeatedly flagged by the American president,” it added.
Trump dodges recession talk as global markets plunge– www.dailykos.com Source Link Excerpt:
President Donald Trump has refused to rule out that his economic policies could trigger a recession and pushed for a “period of transition” that global markets have already responded to negatively.
In an interview that aired on Sunday, with Fox Business conspiracy theorist Maria Bartiromo, Trump was asked if he expected a recession.
“I hate to predict things like that. There is a period of transition because what we’re doing is very big, we’re bringing wealth back to America,” Trump said.
Trump’s statement is false. He has repeatedly throughout his political career predicted economic calamity, usually in the context of attacks against his Democratic rivals like former President Joe Biden and Sec. Hillary Clinton.
Donald Trump’s tariffs hurting US business, Republican lawmakers warn – US politics live | Donald Trump– www.theguardian.com Source Link Excerpt:
US president Donald Trump has not treated Greenlanders with respect since expressing his renewed interest in acquiring the vast, mineral-rich Arctic island, Greenland’s prime minister was quoted on Monday as saying.
Trump reiterated his interest in acquiring the island during his address to Congress last Tuesday, painting a picture of prosperity and safety for the “incredible people” of Greenland, an autonomous territory of the kingdom of Denmark, Reuters reported.
Trump reaffirmed that message in a Truth Social post early on Monday, writing: “We will continue to keep you safe, as we have since World War II. We are ready to invest billions of dollars to create new jobs and make you rich.”
Greenland’s prime minister Mute Egede told Danish public broadcaster DR in an interview aired on Monday: “We deserve to be treated with respect, and I don’t think the US president has done that recently since he took office.”
“I think that the recent things the American president has been doing means that people don’t want to get as close to (the US) as they might have wanted in the past,” he added.
“We need to draw a line in the sand and put more effort into (cultivating relations with) the countries that show us respect for the future we want to build,” said Egede, in comments aired a day before Greenland holds a general election.
Trump threatens to put 200% tariff on French Champagne and other EU spirits– www.cnbc.com Source Link Excerpt:
U.S. President Donald Trump said Thursday he plans to put a 200% tariff on alcohol from France and other European nations in the latest escalation of global trade tensions.
The U.S. tariff comes after the European Union moved to reinstate an import tax on American whiskey.
“The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the Wine and Champagne businesses in the U.S.,” Trump said on Truth Social.
‘Wave of nationalism’: Trump tariffs are good politics in Canada and Mexico – USA TODAY Source Link Excerpt:
Approval ratings for Canadian and Mexican leaders are skyrocketing amid popular outrage in those countries over President Donald Trump’s tariff threats − as his own approval ratings have slipped among Americans.
As Trump is poised to slap steep tariffs on America’s northern and southern neighbors − and has floated swallowing up Canada as the “51st state” − leaders in Mexico and Canada are defiant.
On Tuesday, Trump said he would double tariffs on Canadian steel and aluminum from 25% to 50% after Ontario announced a 25% surcharge on the Canadian province’s electricity exports to Michigan, Minnesota and New York. Ontario backed down.
Canada Launches WTO Complaint On US Steel, Aluminium Tariffs– www.ndtv.com Source Link Excerpt:
Canada launched a complaint with the World Trade Organization on Thursday over US President Donald Trump’s across-the-board imposition of 25-percent tariffs on steel and aluminium imports.
The steep levies, which came into force on Wednesday, contained no exemptions despite countries’ efforts to avert them.
“Canada has requested WTO dispute consultations with the United States regarding the imposition by the United States of import duties on certain steel and aluminium products from Canada,” the WTO said.
“Canada claims that the measures, which terminate Canada’s exemption from additional duties on certain steel and aluminium products and increase duties on aluminium articles, and which took effect on March 12, are inconsistent with US obligations,” the global trade body said.
Donald Trump’s tariffs hurting US business, Republican lawmakers warn – US politics live | Donald Trump– www.theguardian.com Source Link Excerpt:
US president Donald Trump has not treated Greenlanders with respect since expressing his renewed interest in acquiring the vast, mineral-rich Arctic island, Greenland’s prime minister was quoted on Monday as saying.
Trump reiterated his interest in acquiring the island during his address to Congress last Tuesday, painting a picture of prosperity and safety for the “incredible people” of Greenland, an autonomous territory of the kingdom of Denmark, Reuters reported.
Trump reaffirmed that message in a Truth Social post early on Monday, writing: “We will continue to keep you safe, as we have since World War II. We are ready to invest billions of dollars to create new jobs and make you rich.”
Greenland’s prime minister Mute Egede told Danish public broadcaster DR in an interview aired on Monday: “We deserve to be treated with respect, and I don’t think the US president has done that recently since he took office.”
“I think that the recent things the American president has been doing means that people don’t want to get as close to (the US) as they might have wanted in the past,” he added.
“We need to draw a line in the sand and put more effort into (cultivating relations with) the countries that show us respect for the future we want to build,” said Egede, in comments aired a day before Greenland holds a general election.
Trump dodges recession talk as global markets plunge– www.dailykos.com Source Link Excerpt:
President Donald Trump has refused to rule out that his economic policies could trigger a recession and pushed for a “period of transition” that global markets have already responded to negatively.
In an interview that aired on Sunday, with Fox Business conspiracy theorist Maria Bartiromo, Trump was asked if he expected a recession.
“I hate to predict things like that. There is a period of transition because what we’re doing is very big, we’re bringing wealth back to America,” Trump said.
Trump’s statement is false. He has repeatedly throughout his political career predicted economic calamity, usually in the context of attacks against his Democratic rivals like former President Joe Biden and Sec. Hillary Clinton.
Trump says he is suspending tariffs on many Mexican goods for one month – US politics live | Trump administration– www.theguardian.com Source Link Excerpt:
President Donald Trump has announced that after speaking with Mexican President Claudia Sheinbaum he has agreed that Mexico will not be required to pay tariffs on anything that falls under the US-Mexico-Canada-Agreement until 2 April.
His post reads:
After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd. I did this as an accommodation, and out of respect for, President Sheinbaum. Our relationship has been a very good one, and we are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl. Thank you to President Sheinbaum for your hard work and cooperation!
President Donald Trump announced a 30-day pause on newly enacted tariffs on Canada and Mexico but was met with mixed signals from Canada. On one hand, Canada appeared ready to move more aggressively on cutting down fentanyl traffic across the border, but on the other, Canada has not ended all its recently enacted tariffs, only the ones in response to Trump’s latest round of tariffs.
Ontario Premier Doug Ford offered the most bellicose response, announcing plans to increase their electricity fee by 25 percent for Americans in Minnesota, New York, and Michigan. Ford said of Trump’s announced tariff pause, “The only thing that’s certain today is more uncertainty. A pause on some tariffs means nothing. Until President Trump removes the threat of tariffs for good, we will be relentless.”
Trump agrees to pause tariffs on Canada and Mexico after they pledge to boost border enforcement – AP News Source Link Excerpt:
President Donald Trump on Monday agreed to a 30-day pause on his tariff threats against Mexico and Canada as America’s two largest trading partners took steps to appease his concerns about border security and drug trafficking.
The pauses provide a cool-down period after a tumultuous few days that put North America on the cusp of a trade war that risked crushing economic growth, causing prices to soar and ending two of the United States’ most critical partnerships.
“I am very pleased with this initial outcome, and the Tariffs announced on Saturday will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured,” Trump posted on social media. “FAIRNESS FOR ALL!”
Canadian Prime Minister Justin Trudeau posted Monday afternoon on X that the pause would occur “while we work together,” saying that his government would name a fentanyl czar, list Mexican cartels as terrorist groups and launch a “Canada-U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering.”
Canada’s tariffs to remain despite Trump postponing tariffs on many imports– abcnews.go.com Source Link Excerpt:
TORONTO — Canada’s initial retaliatory tariffs against the U.S. will remain in place despite President Donald Trump postponing 25% tariffs on many imports from Canada for a month, two senior Canadian government officials said.
Trump said Thursday that he has postponed 25% tariffs on many goods from Canada and Mexico for a month, amid widespread fears of a broader trade war.
Two senior Canadian governments official told the Associated Press that Canada’s first wave of response tariffs will remain. The officials spoke on condition of anonymity as they were not authorized to speak publicly about the matter.
Canada’s initial $30 billion Canadian (US$21 billion) worth of retaliatory tariffs have been applied on items like American orange juice, peanut butter, coffee, appliances, footwear, cosmetics, motorcycles and certain pulp and paper products.
Trump threatens further tariff hikes after Canada retaliates | Trade War News– www.aljazeera.com Source Link Excerpt:
US president posts warning on social media after Canada PM Trudeau slammed ‘dumb’ trade war.
US President Donald Trump has warned Canada that he will escalate his trade war after Prime Minister Justin Trudeau announced retaliatory tariffs on US goods.
Trump’s 25-percent tariffs on imports from Mexico and Canada took effect on Tuesday, prompting Trudeau to announce retaliatory tariffs on more than $100bn of American goods that will take effect over 21 days.
The US president responded on Truth Social, the social media platform he owns, saying: “Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the US, our Reciprocal Tariff will immediately increase by a like amount!”
President Donald Trump’s promised tariffs on Canada and Mexico have hit after the administration determines they did nothing of significance to ward off the tariffs. Canada has responded with its own 25% tariff, which has triggered another counter-tariff from Trump.
China has announced its own counter-tariffs, which includes 15% tariffs on U.S. farm products like chicken and pork. The CEO of Target is warning Americans the tariff escalation will cause prices to rise “within days.”
Trade wars intensify as US tariffs on Canada, Mexico and China take force– www.channelnewsasia.com Source Link Excerpt:
WASHINGTON: Mounting trade wars between the United States and its largest economic partners deepened on Tuesday (Mar 4) as US tariffs on Canada, Mexico and China kicked in, sparking swift retaliation from Beijing and Ottawa.
Stinging US tariffs on Canadian and Mexican goods came into effect as a deadline to avert President Donald Trump’s levies passed without the nations striking a deal – a move set to snarl supply chains.
Trade war fears sent markets falling in Asia and Europe on Tuesday in response to what analysts said were its steepest tariffs on imports since the 1940s.
Trump had announced – and then paused – the blanket 25 per cent tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking.
In pushing ahead with the duties, Trump cited a lack of progress in tackling the flow of drugs like fentanyl into the United States.
The duties stand to impact over US$918 billion worth of US imports from both countries.
Trump Tariffs Will Raise Prices ‘Within Days,’ Target CEO Says – MSN Source Link Excerpt:
President Donald Trump’s new tariffs went into effect on Tuesday, rattling businesses and consumers. Target CEO Brian Cornell said on Tuesday that shoppers will see higher prices on the shelves as soon as this week.
The Details: Cornell told CNBC in an interview that prices for fresh fruits and vegetables will rise, including avocados, strawberries and bananas imported from Mexico due to the 25% tariff now in place.
Canada’s Trudeau slaps 25% tariff on US imports, calls Trump’s trade war ‘very dumb’– timesofindia.indiatimes.com Source Link Excerpt:
Canadian Prime Minister Justin Trudeau
Canadian Prime Minister Justin Trudeau declared on Tuesday that Canada will not back down in its escalating trade war with the United States, calling US President Donald Trump’s tariffs a “very dumb thing to do.” In response, Trudeau announced 25% retaliatory tariffs on $30 billion worth of US imports.
“The United States launched a trade war against Canada… Canadians are reasonable. We are polite. We will not back down from a fight,” Trudeau said, emphasizing that while he considers Trump a “smart guy,” his trade policies are reckless. Trump’s endgame? Trudeau alleges annexation motive
China reveals its response to Trump’s surprise tariff: New taxes of up to 15% on U.S. chicken, cotton, pork, soybeans and other farm products– fortune.com Source Link Excerpt:
The tariffs announced by China’s Commerce Ministry are due to take effect from March 10. Read More
President Donald Trump has enacted reciprocal tariffs on all nations. He called it the “Fair and Reciprocal Plan” and claimed it “will seek to correct longstanding imbalances in international trade and ensure fairness across the board.”
President Donald J. Trump had previously implemented a 25% import tax, or tariff, on all steel and aluminum entering the United States. Trump said, “This is a big deal, the beginning of making America rich again. Our nation requires steel and aluminum to be made in America, not in foreign lands. Ultimately it will be cheaper. It’s time for our great industries to come back to America…this is the first of many.”
Fact Sheet: President Donald J. Trump Announces “Fair and Reciprocal Plan” on Trade – White House Press Release
THE “FAIR AND RECIPROCAL PLAN”: Today, President Donald J. Trump signed a Presidential Memorandum ordering the development of a comprehensive plan for restoring fairness in U.S. trade relationships and countering non-reciprocal trading arrangements.
The “Fair and Reciprocal Plan” will seek to correct longstanding imbalances in international trade and ensure fairness across the board.
Gone are the days of America being taken advantage of: this plan will put the American worker first, improve our competitiveness in every area of industry, reduce our trade deficit, and bolster our economic and national security.
AMERICA WILL NO LONGER TOLERATE UNFAIR TRADE PRACTICES: The United States is one of the most open economies in the world, yet our trading partners keep their markets closed to our exports. This lack of reciprocity is unfair and contributes to our large and persistent annual trade deficit.
There are endless examples where our trading partners do not give the United States reciprocal treatment.
The U.S. tariff on ethanol is a mere 2.5%. Yet Brazil charges the U.S. ethanol exports a tariff of 18%. As a result, in 2024, the U.S. imported over $200 million in ethanol from Brazil while the U.S. exported only $52 million in ethanol to Brazil.
The U.S. average applied Most Favored Nation (MFN) tariff on agricultural goods is 5%. But India’s average applied MFN tariff is 39%. India also charges a 100% tariff on U.S. motorcycles, while we only charge a 2.4% tariff on Indian motorcycles.
The European Union can export all the shellfish it wants to America. But the EU bans shellfish exports from 48 of our states, despite committing in 2020 to expedite approvals for shellfish exports. As a result, in 2023, the U.S. imported $274 million in shellfish from the EU but exported only $38 million.
The EU also imposes a 10% tariff on imported cars. Yet the U.S. only imposes a 2.5% tariff.
A 2019 report found that across 132 countries and more than 600,000 product lines, United States exporters face higher tariffs more than two-thirds of the time.
Trump announces 25% tariffs on all steel and aluminium imports– www.bbc.com Source Link Excerpt:
President Donald Trump has ordered a 25% import tax on all steel and aluminium entering the US in a major expansion of existing trade barriers.
The tariffs, which will increase the costs of importing the metals into the US, come despite warnings of retaliation from some politicalleaders in Canada – America’s biggest supplier of the metals – as well as other countries.
US businesses dependent on the imports have also raised concerns, but Trump has said his plans will boost domestic production.
He warned there would be no exceptions, saying he was “simplifying” the rules, which are set to come into effect on 4 March.
“This is a big deal, the beginning of making America rich again,” Trump said.
“Our nation requires steel and aluminium to be made in America, not in foreign lands,” he added.
China challenges Trump tariffs at World Trade Organization – Yahoo News UK Source Link Excerpt:
China filed a World Trade Organization complaint against U.S. President Donald Trump’s new 10% tariff on Chinese imports.
In the Wednesday filing, China argues that the tariff, as well as Trump’s cancellation of a duty-free exemption for low-value packages are “protectionist” and break WTO rules.
It says the duties are discriminatory, and quote “are imposed on the basis of unfounded and false allegations concerning China.”
Beijing’s complaint also comes after Trump’s move to shut a trade loophole that allowed small-value packages to be shipped duty-free.
The so-called “de minimis” provision, used widely by e-commerce giants like Shein and Temu, exempted packages with goods worth less than $800 from duties.
Prime Minister Trudeau will host a Canada-U.S. summit amid threat of Trump tariffs – Pique Newsmagazine Source Link Excerpt:
A Republican senator from Iowa is pleading for an exemption for potash if U.S. President Donald Trump triggers a trade war by imposing steep tariffs on Canadian imports.
Chuck Grassley’s agriculture state could be hammered if Trump ultimately moves forward on his plan to impose 25 per cent across-the-board tariffs on all Mexican and Canadian imports, with a lower 10 per cent tariff on Canadian energy.
The 91-year-old Republican blamed inflation under the Biden administration for a 20 per cent increase in farmers’ input costs. A steep levy on Canadian potash — a key component of fertilizer — could be devastating for those farm operations.
“Given these already-high input costs, President Trump should work to protect family farmers by ensuring Canadian potash and other fertilizer products aren’t subject to the threatened 25 (per cent) tariffs,” Grassley said in a statement emailed to The Canadian Press.
More than 80 per cent of the United States’ potash comes from Canada, said the American Farm Bureau Federation. The world’s next largest producers are Russia and Belarus.
President Donald J Trump’s use of tariffs has been justified by the 1977 International Emergency Economic Powers Act, a distinction that enables him to use tariffs at will for whatever he deems an “emergency,” with little chance a court would dare set a precedent of empowering the courts to define what emergencies are.
The fruit of that labor has yielded two quick victories, with both Canada and Mexico capitulating to President Donald Trump’s demands to do something to limit the flow of fentanyl coming from both countries into America. Each nation has pledged 10K troops to the task, and each nation is now renegotiating its deals with America as a new 30-day deadline looms.
How Trump’s Bold Use of Tariffs Made Mexico and Canada Cave– www.dailysignal.com Source Link Excerpt:
By using the threat of tariffs to pressure Canada and Mexico to pledge to stop the flow of fentanyl into the United States, President Donald Trump pursued a novel legal theory. He declared an emergency then used his emergency authority to threaten to impose tariffs to get our neighbors to comply with his border enforcement and economic policies.
Trump bypassed the typical avenues of tariff policy and instead used the 1977 International Emergency Economic Powers Act to declare the emergency and justify his tariff threats.
The act has been used by various presidents since the 1970s to respond to threats such as the Iran Hostage Crisis, the international drug trade, and the rise of Chinese-owned social media app TikTok.
But presidents have only used it to freeze transactions or seize properties—never to implement broad tariffs.
Trump threatened 25% tariffs on Canadian and Mexican goods if they did not address the importation of fentanyl into the United States. (GEOFF ROBINS/AFP via Getty Images)
Both Canada and Mexico faced a 25 percent tariff from the U.S. after President Trump ordered it into effect. Mexico announced a temporary deal delaying the tariffs by one month. China has so far appealed to the World Trade Organization (WTO). Trump has warned Americans that there might be a price to pay for the tariff wars, but, in the end, it will be worth it long-term for American prosperity. The EU came out against the tariffs, with concerns they might be next.
Mexico has vowed to send 10,000 national guard troops to the northern border in response to the tariff threat. Canada has vowed it will respond to the U.S. with in-kind tariffs.
Trade War Heats Up After Trump Orders Tariffs and Canada Retaliates– www.nytimes.com Source Link Excerpt:
The United States and its biggest trading partners were hurtling on Sunday into a new era of protectionism as Canada, Mexico and China said they would adopt countermeasures against new tariffs levied by President Trump.
From honey to tomatoes, and from clothes to toilet bowls, a wide range of American goods that cross the border into Canada, worth more than $100 billion, will soon be hit with a 25 percent tariff.
“We don’t want to be here,” Prime Minister Justin Trudeau said in a somber televised address from Ottawa on Saturday night in which he spoke of the deep bonds between the neighbors. “We didn’t ask for this.”
On Sunday, China said it would “take corresponding countermeasures to firmly safeguard its rights and interests.” It also said it would take legal action at the World Trade Organization.
And in a video released on Sunday, President Claudia Sheinbaum of Mexico said that she would unveil the first steps of her government’s so-called Plan B plan on Monday if an agreement with the United States could not be reached. Ms. Sheinbaum earlier warned of retaliatory “tariff and nontariff measures.”
Mexico, US reach deal that puts Trump tariffs on hold – USA Today
Mexico and the United States have reached a one-month agreement to stave off tariffs and a trade war, the threat of which sent global markets tumbling early Monday.
The tariffs on Mexico were set to go into effect Tuesday. By midday Monday, Trump’s 25% tariff on Canadian goods and a 10% tariff on Chinese goods still appeared on course to begin Tuesday.
Mexico President Claudia Sheinbaum Pardo said her country will send 10,000 National Guard troops to its northern border, while President Donald Trump agreed to work to slow the flow of American weapons south of the border.
Trump had promised 25% tariffs on all goods from Mexico before the two leaders worked out an agreement early Monday in a phone call.
Trade War Heats Up After Trump Orders Tariffs and Canada Retaliates– www.nytimes.com Source Link Excerpt:
The United States and its biggest trading partners were hurtling on Sunday into a new era of protectionism as Canada, Mexico and China said they would adopt countermeasures against new tariffs levied by President Trump.
From honey to tomatoes, and from clothes to toilet bowls, a wide range of American goods that cross the border into Canada, worth more than $100 billion, will soon be hit with a 25 percent tariff.
“We don’t want to be here,” Prime Minister Justin Trudeau said in a somber televised address from Ottawa on Saturday night in which he spoke of the deep bonds between the neighbors. “We didn’t ask for this.”
On Sunday, China said it would “take corresponding countermeasures to firmly safeguard its rights and interests.” It also said it would take legal action at the World Trade Organization.
And in a video released on Sunday, President Claudia Sheinbaum of Mexico said that she would unveil the first steps of her government’s so-called Plan B plan on Monday if an agreement with the United States could not be reached. Ms. Sheinbaum earlier warned of retaliatory “tariff and nontariff measures.”
Trump announces significant new tariffs on Mexico, Canada and China, sparking retaliatory actions – CNN– news.google.com Source Link Excerpt:
Trudeau Details Canada’s Retaliation Plans in Emotional Rebuke of Trump Tariffs – The New York Times– news.google.com Source Link Excerpt:
Prime Minister Justin Trudeau of Canada laid out more than $100 billion in retaliatory tariffs against the United States late Saturday, in a forceful response to President Trump’s decision to impose levies on a range of Canadian goods.
But he made clear that Canada was doing so reluctantly.
“We don’t want to be here,” Mr. Trudeau said in a somber televised address from Ottawa that evoked the deep bonds between the two neighbors and close trading partners. “We didn’t ask for this.”
Mr. Trudeau spoke hours after President Trump hit Canada and Mexico with tariffs of 25 percent on all goods, with a partial carve out for Canadian energy and oil exports. Mr. Trudeau said that Canada would swiftly impose its own “far-reaching” retaliatory tariffs of 25 percent on 155 billion Canadian dollars ($106 billion) worth of U.S. goods.
Canada on Sunday published a detailed list of all the U.S. goods imported into Canada that will be subjected to the tariff, including hundreds of products including honey, tomatoes, whiskey and peanut butter. Also on the list were garments, porcelain goods such as toilets and bath tubs, as well as refrigerators and dish washers.
How Trump’s tariffs might affect commodity and energy sectors– www.investing.com Source Link Excerpt:
U.S. President Donald Trump slapped Canada and Mexico with duties of 25% and China with a 10% levy on Saturday, calling the measures necessary to combat illegal immigration and the drug trade.
Canada and Mexico immediately vowed retaliatory measures, and China said it would challenge Trump’s levies at the World Trade Organization and take other countermeasures.
Trump’s move has sparked volatility in the commodities market. Here are some reactions to the news:
GOLDMAN SACHS
“We still expect Canadian oil producers to eventually bear most of the burden of the tariff with a $3 to $4 a barrel wider-than-normal discount on Canadian crude given limited alternative export markets, with U.S. consumers of refined products bearing the remaining $2 to $3 a barrel burden.
“We estimate Canadian natural gas exports to the U.S. might drop by a modest 0.16 billion cubic feet per day (bcfd) as a result of 10% import tariffs, with little if any impact on U.S. gas prices.”
China’s non-specific response to Trump tariffs stands in contrast to Canada’s retaliatory measures– www.cbc.ca Source Link Excerpt:
China’s government on Sunday denounced the Trump administration’s imposition of a long-threatened 10 per cent tariff on Chinese imports while leaving the door open for talks with the U.S. that could avoid a deepening conflict.
Beijing will challenge President Donald Trump’s tariff at the World Trade Organization — a symbolic gesture — and take unspecified “countermeasures” in response to the levy, which takes effect on Tuesday, China’s finance and commerce ministries said.
That response stopped short of the immediate escalation that had marked China’s trade showdown with Trump in his first term as president and repeated the more measured language Beijing has used in recent weeks.
U.S. tariff move sparks criticism, concern in Germany – Xinhua Source Link Excerpt:
U.S. President Donald Trump’s tariff move against Canada, Mexico and China has sparked criticism and concern in Germany.
On Saturday, Trump ordered to impose a 25-percent tariff on imports from Mexico and Canada, and a 10-percent tariff on Chinese goods. He also signaled that the European Union (EU) could be next, citing the bloc’s persistent trade surplus with the U.S.
While reaffirming Germany’s commitment to economic ties with the U.S., German Chancellor Olaf Scholz emphasized that the first priority should be “not to divide up the world with many tariff barriers.”
Donald: ‘Pain’ Caused By Tariffs ‘Worth The Price That Must Be Paid’– crooksandliars.com Source Link Excerpt:
A Wall Street Journal opinion piece titled, ‘The Dumbest Trade War in History’ really got under Donald’s thin-skin, so he took to Truth Social to rant against the paper while admitting that we may feel some pain from his trade war.
“The “Tariff Lobby,” headed by the Globalist, and always wrong, Wall Street Journal, is working hard to justify Countries like Canada, Mexico, China, and too many others to name, continue the decades long RIPOFF OF AMERICA, both with regard to TRADE, CRIME, AND POISONOUS DRUGS that are allowed to so freely flow into AMERICA,” he scribbled. “THOSE DAYS ARE OVER!”
“The USA has major deficits with Canada, Mexico, and China (and almost all countries!), owes 36 Trillion Dollars, and we’re not going to be the “Stupid Country” any longer,” It continued. “MAKE YOUR PRODUCT IN THE USA AND THERE ARE NO TARIFFS! Why should the United States lose TRILLIONS OF DOLLARS IN SUBSIDIZING OTHER COUNTRIES, and why should these other countries pay a small fraction of the cost of what USA citizens pay for Drugs and Pharmaceuticals, as an example?”
“THIS WILL BE THE GOLDEN AGE OF AMERICA!” he added. “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID. WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!”
EU slams Trump tariffs, says it will ‘respond firmly’ if targeted– www.channelnewsasia.com Source Link Excerpt:
BRUSSELS: The European Union on Sunday (Feb 2) blasted US President Donald Trump’s sweeping tariffs on Canada, Mexico and China, and said the 27-nation bloc would hit back “firmly” if targeted.
Brussels had until now indicated it hoped to avoid a trade conflict with Trump through negotiation.
But on Friday the US leader doubled down by saying he “absolutely” planned to target the EU in future, as he slapped levies on his north American neighbours and China.
EU slams Trump tariffs, says it will ‘respond firmly’ if targeted– www.channelnewsasia.com Source Link Excerpt:
BRUSSELS: The European Union on Sunday (Feb 2) blasted US President Donald Trump’s sweeping tariffs on Canada, Mexico and China, and said the 27-nation bloc would hit back “firmly” if targeted.
Brussels had until now indicated it hoped to avoid a trade conflict with Trump through negotiation.
But on Friday the US leader doubled down by saying he “absolutely” planned to target the EU in future, as he slapped levies on his north American neighbours and China.
Trudeau Details Canada’s Retaliation Plans in Emotional Rebuke of Trump Tariffs – The New York Times– news.google.com Source Link Excerpt:
Prime Minister Justin Trudeau of Canada laid out more than $100 billion in retaliatory tariffs against the United States late Saturday, in a forceful response to President Trump’s decision to impose levies on a range of Canadian goods.
But he made clear that Canada was doing so reluctantly.
“We don’t want to be here,” Mr. Trudeau said in a somber televised address from Ottawa that evoked the deep bonds between the two neighbors and close trading partners. “We didn’t ask for this.”
Mr. Trudeau spoke hours after President Trump hit Canada and Mexico with tariffs of 25 percent on all goods, with a partial carve out for Canadian energy and oil exports. Mr. Trudeau said that Canada would swiftly impose its own “far-reaching” retaliatory tariffs of 25 percent on 155 billion Canadian dollars ($106 billion) worth of U.S. goods.
Canada on Sunday published a detailed list of all the U.S. goods imported into Canada that will be subjected to the tariff, including hundreds of products including honey, tomatoes, whiskey and peanut butter. Also on the list were garments, porcelain goods such as toilets and bath tubs, as well as refrigerators and dish washers.
China’s non-specific response to Trump tariffs stands in contrast to Canada’s retaliatory measures– www.cbc.ca Source Link Excerpt:
China’s government on Sunday denounced the Trump administration’s imposition of a long-threatened 10 per cent tariff on Chinese imports while leaving the door open for talks with the U.S. that could avoid a deepening conflict.
Beijing will challenge President Donald Trump’s tariff at the World Trade Organization — a symbolic gesture — and take unspecified “countermeasures” in response to the levy, which takes effect on Tuesday, China’s finance and commerce ministries said.
That response stopped short of the immediate escalation that had marked China’s trade showdown with Trump in his first term as president and repeated the more measured language Beijing has used in recent weeks.
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India won’t budge on its current tariff levels after U.S. tariffs recently took effect. Canada has clawed back some its promised threats but continues to pursue the U.S. legally in world courts. One potential unexpected cost of the tariffs is the rise in patriotism in both Mexico and Canada, as well as a rise in support for the incumbent leaders in both nations as well.
President Donald J Trump’s use of tariffs has been justified by the 1977 International Emergency Economic Powers Act, a distinction that enables him to use tariffs at will for whatever he deems an “emergency,” with little chance a court would dare set a precedent of empowering the courts to define what emergencies are.
