Category Archives: Trump tariffs

Starmer has avoided state-visit bear traps but has he changed any of Trump’s thinking?

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PM cannot afford for US president to walk away from Ukraine crisis and must persuade him to publicly support specific Gaza plans

With bear traps avoided and fireworks unlit, Keir Starmer will be delighted that his press conference with Donald Trump lent credence to his claim to be America’s first partner in defence, trade and now technology.

Trump, for his part, got the “great pictures” he wanted and was on his best low-wattage behaviour. He said he did not disagree with his host about much, save Starmer’s plan to recognise a Palestinian state. And he teetered on the edge of being diplomatic, at least until he advised Starmer to use the military to stop small boats crossing the Channel.

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Majority in EU’s biggest states believes bloc ‘sold out’ in US tariff deal, poll finds

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Average of 77% of respondents across five countries thought agreement would benefit US economy above all

A majority of people across the EU’s five biggest member states believe the European Commission sold citizens out when negotiating a “humiliating” tariff deal with Donald Trump that “benefits the US” far more than Europe, a survey has shown.

The poll, by Cluster17 for the European affairs debate platform Le Grand Continent, found 77% of respondents – ranging from 89% in France to 50% in Poland – thought the deal would benefit above all the US economy, with only 2% believing it would benefit Europe’s.

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US treasury secretary denies Trump tariffs are tax on Americans

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Billionaire Scott Bessent dismisses concerns about president’s levies and predicts ‘acceleration’ in US economy

US treasury secretary Scott Bessent has refused to acknowledge that the sweeping trade tariffs imposed by Donald Trump around the world are taxes on Americans.

In a new interview on Sunday with NBC host Kristen Welker, Bessent, a former billionaire hedge fund manager, dismissed concerns from major American companies including John Deere, Nike and Black and Decker who have all said that Trump’s tariffs policy will cost them billions of dollars annually.

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Postal traffic into US plunges by more than 80% after Trump ends exemption

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Dozens of operators have suspended service to the US until a solution is implemented on parcels worth $800 or less

Postal traffic into the United States plunged by more than 80% after the Trump administration ended a tariff exemption for low-cost imports, the United Nations postal agency said Saturday.

The Universal Postal Union says it has started rolling out new measures that can help postal operators around the world calculate and collect duties, or taxes, after the US eliminated the so-called “de minimis exemption” for lower-value parcels.

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Canada’s Mark Carney signals austerity measures as government shifts focus from Trump to economy

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Prime minister cautions Canadians as Ottawa moves to curb spending to balance near-record military expenditures

Mark Carney has told Canadians to prepare for austerity measures and his finance minister warned of “tough choices” in the coming months, as the government attempts to balance near-record defence spending, cuts to government programs and a trade war with the United States.

Carney, the former central banker and economist turned politician, has been meeting senior ministers before the fall budget, and hinted cuts were coming to the federal bureaucracy.

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Trump asks US supreme court to overturn trade tariffs ruling

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Move follows federal appeals court decision that sweeping ‘liberation day’ levies on imports had overstepped presidential powers

Donald Trump has asked the US supreme court to overturn a lower court decision that most of his sweeping trade tariffs were illegal.

The US president filed a petition late on Wednesday to ask for a review of last week’s federal appeals court ruling in Washington DC, which centred on his “liberation day” border taxes introduced on 2 April, which imposed levies of between 10% and 50% on most US imports, sending shock waves through global trade and markets.

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Modi’s warm meeting with Xi shows impact of Trump’s ‘tariff tantrum’

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China seizes on opportunity for geopolitical realignment after India was hit with one of US’s harshest trade penalties

They stood together like old friends, heads thrown back in jovial laughter, clutching one another’s hands affectionately. Except this was no ordinary gathering of three men, but a meeting of three of the most powerful non-western leaders: Vladimir Putin, Xi Jinping and Narendra Modi.

The overt displays of intimacy were widely regarded by observers as a telling message of defiance aimed at their western counterparts, in particular Donald Trump, who just a few days earlier had slapped India with 50% import tariffs, among the harshest of the US president’s trade penalties.

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Trump threatens tariffs on countries that ‘discriminate’ against US tech

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Levies and restrictions could hit UK’s digital services tax and EU states such as France, Italy and Spain

Donald Trump has threatened to impose tariffs and export restrictions on countries whose taxes, legislation and regulations target US big tech companies such as Google, Meta, Amazon and Apple.

In a post on his social media platform, Truth Social, the US president said: “Digital taxes, legislation, rules or regulations are all designed to harm, or discriminate against, American technology.”

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Canada to drop counter-tariffs on some US goods one day after call with Trump

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Mark Carney says change will go into effect on 1 September but tariffs on steel, aluminum and autos will remain

Canada will drop its counter-tariffs on some American goods in the coming days, Mark Carney has said, as the country’s prime minister looks to end a protracted trade war with longtime ally the United States.

From 1 September, the Canadian government will remove some levies on US goods that comply with the North American free-trade pact, a move meant to “match” how the White House treated Canadian goods. Levies on steel, aluminum and autos will remain in place.

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Trump’s tariffs replace diplomacy as other US tools of statecraft are discarded

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Measures meant to rebalance America’s economy are wielded instead against the likes of Canada, India and Brazil ‘to compel loyalty to the president’

On the campaign trail, Donald Trump pledged to use tariffs to revitalise American industry, bringing jobs home and helping to make America great again. But more than six months into his administration, experts say the president’s trade war is increasingly being wielded as a political cudgel, in lieu of more traditional forms of diplomacy.

The president’s current target, India, has been unable to reach a trade agreement, and Trump appears ready to follow through with his threat to impose a further 25% tariff on Delhi – bringing the total to 50% – the joint highest levy on any country, along with Brazil.

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Trump hiked tariffs on US imports. Now he’s looking at exports – sparking fears of ‘dangerous precedent’

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Experts warn of destabilized trading relations after White House strikes deal with Nvidia to take a 15% cut of certain AI chip sales to Chinese companies

Apple CEO Tim Cook visited the White House bearing an unusual gift. “This box was made in California,” Cook reassured his audience in the Oval Office this month, as he took off the lid.

Inside was a glass plaque, engraved for its recipient, and a slab for the plaque to sit on. “The base was made in Utah, and is 24-karat gold,” said Cook.

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Nvidia and AMD agree to pay 15% of China chip sale revenues to US

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Chipmakers agree to deal amid Trump trade war as condition for obtaining export licences for Chinese market

The chipmakers Nvidia and AMD have agreed to give the US government 15% of their revenue from advanced chips sold to China in return for export licences to the key market, in an unprecedented move amid Donald Trump’s trade war with China.

The move, an apparent reversal of US national security restrictions on the chip sales, signalled an easing in the US-China trade war.

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Farmers displaced by $1.5bn Trump golf course reportedly being offered rice and cash

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White House denies suggestions resort in Vietnam presents conflict of interest amid row over compensation rates

Villagers whose farms in Vietnam will be bulldozed to make way for a $1.5bn golf resort backed by the Trump family have reportedly been offered rice provisions and cash compensation of as little as $12 for a square metre of land by state authorities.

Thousands of villagers will be offered compensation based on land size and location, according to a report by Reuters. The agency spoke to elderly farmers who said they feared they would struggle to find a stable livelihood.

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Top US diplomat in Brazil summoned to foreign ministry over Bolsonaro trial comments

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US embassy accused supreme court judge of persecuting ex-president, currently on trial for alleged coup attempt

Brazil’s foreign ministry has summoned the US chargé d’affaires after the embassy posted comments about the trial of former president Jair Bolsonaro, as relations between the two countries continue to deteriorate.

On Thursday, the embassy published a social media post in Portuguese criticising the supreme court justice Alexandre de Moraes, who is overseeing the cases against Bolsonaro, who is on trial over an alleged coup attempt.

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Shares in European drug companies hit four-month low as Trump tariffs loom

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President repeats threat to bring in levies ‘within next week or so’ in attempt to get companies to move production to US

Shares in European pharmaceutical companies have sunk to a four-month low, after Donald Trump repeated his threats to introduce tariffs on drug imports “within the next week or so”.

Europe’s Stoxx Health Care index slid by 2.8% on Wednesday, falling to its lowest level since mid-April, shortly after the US president’s initial “liberation day” tariff announcements.

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US steps up efforts to help Bolsonaro avoid jail over alleged coup plot

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State department condemns judge’s decision to place former Brazil president under house arrest as trial proceeds

The US has intensified its campaign to help Jair Bolsonaro avoid punishment for allegedly masterminding a failed coup, with the state department denouncing the decision to place Brazil’s former president under house arrest.

“Let Bolsonaro speak!” the department’s bureau of western hemisphere affairs tweeted on Monday night after the far-right populist was confined to his mansion in the capital, Brasília, and police seized his mobile phone.

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Swiss president under fire after Trump call leads to US tariffs shock

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Karin Keller-Sutter accused of mishandling talks as shares dive after Switzerland hit with 39% tariff

The Swiss stock market has plunged, the cabinet has been holding emergency talks and President Karin Keller-Sutter has been accused of mishandling a vital phone call with the White House after Donald Trump hit the country with a shock 39% export tariff.

Switzerland, home to some of the world’s best-known luxury brands, was left stunned after the US president on Friday imposed one of the highest tariff rates in his global trade reset. Industry associations warned that tens of thousands of jobs were at risk.

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White House officials rush to defend Trump after shaky economic week

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US trade representative says ‘the president is the president’ after firing of labor statistics chief amid slow job growth

Donald Trump administration officials fanned out on Sunday’s US political shows to defend the president’s policies after a bruising week of poor economic, trade and employment numbers that culminated with the firing of labor statistics chief Erika McEntarfer.

The US trade representative, Jamieson Greer, said Trump had “real concerns” about the jobs numbers that extend beyond Friday’s report that showed the national economy added 73,000 jobs in July, far below expectations. Job growth numbers were revised down by 285,000 for the two previous months as well.

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India to still buy oil from Russia despite Trump threats, say officials

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No pause on Russian imports by Indian oil firms who base decisions on ‘price, grade of crude, logistics and economic factors’

Indian oil refineries will continue to buy oil from Russia, officials have said, before threatened US sanctions next week against Moscow’s trading partners over the war in Ukraine.

Media reports on Friday had suggested India, a big energy importer, would stop buying cheap Russian oil. Trump later told reporters that such a move would be “a good step” if true.

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India to still buy oil from Russia despite Trump threats, say officials

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No pause on Russian imports by Indian oil firms who base decisions on ‘price, grade of crude, logistics and economic factors’

Indian oil refineries will continue to buy oil from Russia, officials have said, before threatened US sanctions next week against Moscow’s trading partners over the war in Ukraine.

Media reports on Friday had suggested India, a big energy importer, would stop buying cheap Russian oil. Trump later told reporters that such a move would be “a good step” if true.

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