Category Archives: International trade

Trump temporarily spares carmakers from US tariffs on Canada and Mexico

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After a call with top executives at GM, Ford and Stellantis, president approves one-month exemption from tariffs

Donald Trump has temporarily spared carmakers from sweeping US tariffs on goods from Canada and Mexico, one day after an economic strike on the US’s two biggest trading partners sparked warnings of widespread price increases and disruption.

The US president extended his aggressive trade strategy at midnight on Tuesday by targeting the country’s two closest neighbors with duties of 25%.

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Hong Kong firm to sell stake in Panama ports amid Trump pressure

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Deal with US finance giant BlackRock, valued at almost $23bn, comes amid push to curb perceived China influence

CK Hutchison Holdings, the Hong Kong-based logistics giant, announced plans to sell a majority stake in a business that controls ports in Panama to investors including the US financial giant BlackRock in a deal worth almost $23bn.

The sale of a 90% interest in Panama Ports Company, which holds the contract to run the ports of Balboa and Cristóbal until 2047, is part of a wider deal for Hutchinson Port’s global business. The deal comes at a time Donald Trump has piled on pressure to end what he sees as China’s influence and control over the Panama canal.

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China likely to target US agriculture, state media reports, as Trump tariff deadline nears

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Global Times signals Beijing’s likely countermeasure after US president threatened a further 10% duty to come into force on Tuesday

China is preparing countermeasures against fresh US import tariffs that are set to take effect on Tuesday, China’s state-backed Global Times reported, with American agricultural exports likely to be targeted.

Donald Trump last week threatened China with an extra 10% duty, resulting in a cumulative 20% tariff, while accusing Beijing of not having done enough to halt the flow of fentanyl into America, something China said was tantamount to “blackmail”.

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Chinese manufacturing surges despite threat of higher Trump tariffs

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Fastest expansion in three months as Chinese factories return to growth as new orders rise

China’s manufacturing activity expanded at the fastest pace in three months in February, despite the looming threat that Donald Trump will impose tariffs this week.

Production at China’s factories returned to growth last month, an official survey showed, thanks to higher new orders and purchase volumes.

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Trump says Putin would keep his word on a Ukraine peace deal

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President claims presence of US workers in Ukraine would deter Russian aggression after talks with Keir Starmer

Donald Trump has insisted that Vladimir Putin would “keep his word” on a peace deal for Ukraine, arguing that US workers extracting critical minerals in the country would act as a security backstop to deter Russia from invading again.

During highly anticipated talks at the White House with the prime minister, Keir Starmer, the US president said that Putin could be trusted not to breach any agreement, which could aim to return as much of the land as possible to Ukraine that was seized by Russia during the brutal three-year conflict.

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Trump’s threatened 25% tariffs on EU imports could trigger ‘economic turmoil’

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US president’s plan could prove to be an economic shock to both blocs, German thinktank says

Donald Trump’s threatened 25% tariffs on EU imports could trigger “economic turmoil”, sharply push down growth and send inflation soaring, according to a German thinktank.

The Kiel Institute said the US president’s promise on Wednesday that he would impose the levies “very soon” was a profound moment in the postwar relationship between Washington and Brussels and could prove to be an economic shock to both parties.

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Ukraine’s economy could grow by 5% next year if hostilities end, EBRD says

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European reconstruction bank will help rebuild country if peace is agreed but a lasting end to conflict is needed

The war-torn Ukrainian economy could expand by 5% next year if a ceasefire is agreed, the European Bank for Reconstruction and Development (EBRD) has predicted – but prospects for reconstruction depend on a lasting peace.

The London-based lender has invested $6.2bn (£4.9bn) in projects in Ukraine over the course of the three-year conflict.

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Donald Trump orders new tariff investigation into US copper imports

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President opens new front in assault on global trade norms as advisers claim China moving to dominate copper market

Donald Trump on Tuesday opened yet another front in his assault on global trade norms, ordering a new investigation into possible tariffs on copper imports to rebuild US production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.

Trump, looking to thwart what his advisers see as a move by China to dominate the global copper market, signed an order directing commerce secretary Howard Lutnick to start a new national security investigation under Section 232 of the Trade Expansion Act of 1962, the same law that Trump used in his first term to impose 25% global tariffs on steel and aluminum.

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‘Trusted capital from your long-term ally’: Australian super’s US trip to bolster efforts to avoid Trump’s steel tariffs

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Super Members Council says summit may sway US president on tariffs on Australian industry after seeing scale of investment in US

Australia’s $2.8tn superannuation industry will bolster the Albanese government’s bid to secure an exemption from the Trump administration’s 25% tariffs on steel and aluminium imports this week.

A delegation of Australia’s largest funds will meet with US government officials from Monday, as part of a four-day summit designed to improve awareness of the industry’s long-term contributions to the US economy and its plans to more than double investment.

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Trump threatens 25% tariffs on foreign cars and semiconductor chips

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White House has raised threat of levies as a means to bolster US economy, ignoring warnings trade wars could derail it

Donald Trump stood firm against warnings that his threatened trade war risks derailing the US economy, claiming his administration could hit foreign cars with tariffs of around 25% within weeks.

Semiconductor chips and drugs are set to face higher duties, Trump told reporters at a news conference on Tuesday.

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Sadiq Khan says ‘Brexit was a mistake’ and closer EU ties could counter Trump tariffs

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London mayor to tell meeting that mobility scheme would benefit young people and economy

Sadiq Khan will tell EU diplomats “Brexit was a mistake” and renew his backing for a youth mobility scheme as he argues strengthened ties with the bloc would help offset Donald Trump’s threatened tariff regime.

At a meeting on Tuesday, the mayor of London will tell delegates that Britain’s withdrawal from the trading bloc “continues to have a negative impact”, and he will promise to make the case for “being bold” in efforts to seek closer alignment.

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UK marketplace sellers face ‘second Brexit’ hit from Trump’s US import rules

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End of ‘de minimis’ policy for Chinese goods also expected to hit bigger fashion retailers such as Asos and Boohoo

Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a second Brexit.

The new rules, which mean all parcels originating or made in China and being sold into the US must pay import duty – of as much as 15% on fashion items – and an additional 10% tariff, are also expected to impact bigger online clothing retailers such as Asos and Boohoo.

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Trump policies make US ‘scary place to invest’ and risk stagflation, says Stiglitz

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Uncertainty created by tariffs and contempt for rule of law will deter investment, says top economist

Donald Trump’s tariff threats have made the US “a scary place to invest” and may unleash stagflation, the Nobel prize-winning economist Joseph Stiglitz has said.

“It risks the worst of all possible worlds: a kind of stagflation,” Stiglitz said in an interview with the Guardian.

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Trump’s reciprocal tariff threat brings fears for Australian trade

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Economist argues GST is not protectionist and should not attract any new levy from the US but concern remains for steel industry

US president Donald Trump has threatened “reciprocal tariffs” on US trade partners in retaliation for some domestic taxes, such as value-added taxes, sparking concerns Australia could be targeted.

But economists have argued Australia’s value-added tax – the goods and services tax, which is applied to imported and domestically sourced goods and services identically – is not protectionist, and so could escape retaliation from the US.

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Caught in the middle: UK firms brace for fallout from Trump’s global trade war

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While UK may not be in direct line of fire, knock-on effects on global trade has British businesses worried

“We’re vulnerable at the moment,” says Fiona Conor, the managing director of Trust Electric Heating, a Leeds-based radiator manufacturer, who has been considering expanding into the US market.

After a predictably unpredictable start to Donald Trump’s second term as US president, Conor is worried her options could be limited, as businesses across the UK brace for a global trade war.

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Starmer ‘not telling truth’ over Gaza family asylum decision, claims Badenoch, after PMQs clash – as it happened

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Opposition leader says PM was wrong when he said that the decision was taken under the last government

After PMQs there will be an urgent question in the Commons, tabled by the Lib Dem MP Christine Jardine, on “the potential security implications of the involvement of Chinese companies including Mingyang in energy infrastructure projects”. After that Dan Jarvis, the security minister, will make a statement to mark the publication of the report into Prevent’s dealings with Ali Harbi Ali, the man who killed the Conservative MP David Amess.

Sir Mark Rowley, the Metropolitan police commissioner, has blamed Home Office foot-dragging for a failure to change the rules to allow forces to sack officers who fail vetting procedures, Matthew Weaver reports.

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Australia ‘killing’ US manufacturing with aluminium imports, Trump’s trade adviser says

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Peter Navarro’s comments to US media, which follow president’s 25% tariff announcement, were shared on an official Trump administration account on X

Donald Trump’s trade adviser claims Australia is “crushing” and “killing” America’s manufacturing sector with its imports of aluminium, as the Albanese government scrambles to try to secure exemptions to the president’s 25% tariffs on metal.

Anthony Albanese said he was still hopeful the local steel and aluminium industry could be spared from the tariff regime, even after escalating comments from the Trump administration criticising current trade arrangements with allies, including Australia.

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Assisted dying bill has lost Commons majority now high court signoff abandoned, says MP – UK politics live

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Danny Kruger says those who backed the bill did so under false premise after change to safeguards announced

There will be two urgent questions after 12.30pm: on the Clonoe inquest, which found that the SAS acted unlawfully when they killed four IRA terrorists in an ambush in 1992; and then another on the US steel tariffs.

A Northern Ireland Office minister will respond to the first, and a business minister will respond to the second.

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Canada, Mexico and EU criticise Trump’s metal tariffs amid fears of trade war

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Ursula von der Leyen says tariffs ‘will not go unanswered’ as Justin Trudeau says Canadians will ‘stand up if we need to’

Canada, Mexico and the EU have sharply criticised Donald Trump’s decision to impose 25% tariffs on all steel and aluminium imports to the US, amid mounting fears of a global trade war.

The president of the European Commission, Ursula von der Leyen, said on Tuesday she “deeply regretted” the US president’s move, announced late on Monday, adding: “Unjustified tariffs on the EU will not go unanswered.”

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Trump announces 25% tariffs on foreign steel and aluminum

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Modified US duties will be enforced ‘without exceptions’, said president, in controversial bid to boost economy

Donald Trump announced 25% tariffs on foreign steel and aluminum on Monday, ramping up his controversial bid to boost the US economy by hiking taxes on imports from overseas.

The modified US duties will be enforced “without exceptions or exemptions”, the president declared, dashing the hopes of countries that hoped to avoid them.

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