Category Archives: Tariffs

Carney names broad team to advise on tense US-Canada trade talks

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Conservatives and former provincial premiers among those PM names to advisory committee on economic relations

Canada’s prime minister, Mark Carney, says his new advisory committee on economic relations with the United States will draw on the “best advice and the broadest perspectives” as the country braces for what many expect will be tense trade negotiations with its southern neighbour.

The 24-member advisory committee, announced on Tuesday, shows the prime minister’s eagerness to reach across the political spectrum to ensure Canada is “well positioned to advance its interests” at the looming trade talks.

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Mark Carney secures majority government in Canada after special election win

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Carney’s Liberals will now be able to pass legislation without the support of opposition parties – and govern until 2029

The Canadian prime minister, Mark Carney, has secured a parliamentary majority for his Liberal government, CBC News reported. The victory will help him push through a legislative agenda he says is needed for an increasingly divided geopolitical world.

Three special elections were held on Monday in Ontario and Quebec, with two in districts – known as ridings – that have long voted Liberal.

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‘If he’d stayed on the golf course, we’d be in a better place’: experts on Trump’s tariffs, one year on

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Last April, the president unleashed a tidal wave of tariffs on ‘liberation day’. Analysts say the policy has failed, even by the Trump administration’s own terms

Before Donald Trump declared “liberation day” on 2 April 2025 and shocked the world by raising import tariffs on nearly every country the US did business with, he had spent almost three months causing chaos in Washington.

The wholesale slashing of government jobs under Doge (the “department of government efficiency”) and the defunding of US aid agencies had shown White House watchers that the US president was in a hurry to upset institutions he considered profligate or useless.

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Trump claims he has ‘absolute right’ to impose new tariffs after supreme court blow

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US supreme court has ‘ransacked’ the country, president argues, in wake of its ruling against his trade agenda

Donald Trump has claimed he has “the absolute right” to impose new tariffs after the US supreme court ruled many of the import duties he imposed last year were illegal.

The president attacked the court in a late night broadside on Sunday, accusing it of having “unnecessarily RANSACKED” the US – and failing to show him sufficient loyalty.

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New York and other US states sue Trump over ‘illegal and reckless’ tariffs

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Lawsuit says president does not have authority to impose levies and demands refunds from federal government

A coalition of Democratic attorneys general and governors across 24 US states are suing Donald Trump to block his latest round of tariffs.

The White House is planning to enact a new 15% tariff on all imports after the supreme court declared Trump’s “liberation day” tariffs illegal. The tariffs have yet to go into effect, though the White House said the new rate would start this week.

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Trump administration warns tariff refund process ‘will take time’

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DoJ says it will not ask US supreme court to rehear tariffs case despite president’s complaint on Truth Social

The Trump administration said refunds of tariffs struck down by the US supreme court “will take time”, according to court documents filed by the Department of Justice.

Businesses including FedEx have lined up to demand reimbursement for US tariffs they have paid but that the court last week deemed were imposed illegally, prompting heavy criticism from Donald Trump.

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Australia will ‘examine all options’ to avoid new 15% tariffs announced by Donald Trump

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The trade minister, Don Farrell, says Australia has ‘consistently advocated’ against the ‘unjustified tariffs’, after the US president announced new levies

Australia will “examine all options” after the US president Donald Trump announced a temporary 15% tariff would apply to US imports from all countries.

The US president’s move came less than 24 hours after the US supreme court overturned his original 10% import tariff. Shortly after the ruling, Trump announced he was reinstating the 10% duties using a different law before raising it again to 15%.

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Trump raises tariffs to 15% on imports from all countries

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President announced increase from 10% using different authority from mechanism that supreme court struck down on Friday

Donald Trump announced on Saturday that he would raise a temporary tariff rate on US imports from all countries from 10% to 15%, less than 24 hours after the US supreme court ruled against the legality of his flagship trade policy.

Infuriated by the high court’s ruling on Friday that he had exceeded his authority and should have got congressional approval for the tariffs he introduced last year under the International Emergency Economic Powers Act (IEEPA), the US president railed against the justices who struck down his use of tariffs – calling them a “disgrace to the nation” – and ordered an immediate 10% tariff on all imports, in addition to any existing levies, under a separate law.

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Furious Trump signs global 10% duty after supreme court issues tariff blow

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President calls six justices a ‘disgrace to the nation’ while praising three justices who dissented

Donald Trump on Friday railed against the supreme court justices who blocked his use of tariffs, calling them a “disgrace to the nation”, and later signing documents imposing a 10% tariff on all countries.

Trump said he would immediately sign an order increasing tariffs globally by 10% under section 122 of the Trade Act of 1974 and will begin investigations of unfair trade practices allowing further tariffs. He asserted that he had the authority to impose additional tariffs under existing statutes without congressional approval.

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Trump accused of caving to big business after deal to cut Swiss tariffs to 15%

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Rolex denies ‘any negotiation’ with US although luxury watchmaker entertained Trump and gave him gold clock

Donald Trump agreed to cut US tariffs on Switzerland from 39% to 15% as part of a new trade pact, lowering duties that strained economic ties and hit Swiss exporters.

The two countries have signed a “non-binding memorandum of understanding”, the Swiss government announced, following bilateral talks in Washington and intense lobbying by Swiss firms.

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US supreme court hears oral arguments on legality of Trump imposing tariffs

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President’s tariffs are being scrutinized in crucial legal test of plan to impose duties on nearly every US trading partner

Donald Trump’s sweeping tariffs on the world are being scrutinized by the US supreme court today, a crucial legal test of the president’s controversial economic strategy – and his power.

Justices started to hear oral arguments this morning on the legality of using emergency powers to impose tariffs on almost every US trading partner.

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Canada budget adds tens of billions to deficit as Carney spends to dampen Trump tariffs effect

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Entitled ‘Canada Strong’ the 2025 budget envisions significant new defence spending, a reduction of the civil service and ‘generational investments’

A protracted trade war with the United States and a weakening domestic economy has forced Mark Carney to run a deficit tens of billions larger than initially forecast in his first-ever federal budget.

The spending plan, titled “Canada Strong” envisions significant new defence spending, a reduction of the country’s civil service and “generational investments” that would reshape the nature of the country’s economy.

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Malaysia defends Trump trade deal after critics warn it will compromise country’s sovereignty

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Former Malaysian prime minister Mahathir Mohamad said the deal amounted to ‘handing over’ the country’s independence

Malaysia’s government has been forced to defend its new trade deal with the US after opposition politicians, analysts and civil society groups warned that the deal was “one-sided” and could compromise the country’s sovereignty.

Investment, trade and industry minister Tengku Zafrul Aziz has called the trade deal “the best possible outcome for Malaysia.”

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Canada’s Liberal party says budget of ‘sacrifice’ needed to avoid recession

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Country set to unveil PM Mark Carney’s spending plan as it battles trade war with US and protracted cost of living crisis

Canada’s ruling Liberal party has said a budget of “sacrifice” is required to confront both a trade war with the US and a protracted cost of living crisis that threatens to push the country into a recession. But with opposition parties signalling they won’t support the fiscal plans of the prime minister, Mark Carney, a failed parliamentary vote on the budget could plunge the country into another federal election in the coming weeks.

The country’s finance minister, François-Philippe Champagne, will on Tuesday unveil a spending plan his government has signalled will include both steep deficits and spending cuts. Few details have leaked ahead of the announcement, which will mark the first substantive look at how Carney plans to avoid a recession while locked in a trade war with the US, Canada’s biggest economic partner.

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Xi-Trump meeting: America has discovered that bullies can be bullied back

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Outcome appears closer to truce than durable peace but outline of broader diplomatic relationship is visible

When Donald Trump launched his trade war against China in April, threatening tariffs as high as 145%, the Chinese government said it would never bow to blackmail and vowed to “fight to the end”.

The question now is whether the consensus reached between Trump and Xi Jinping in Busan, South Korea, on Thursday means that the fight really has come to an end, and if so on whose terms.

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Trump and Xi talks could end months of global economic chaos

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High on agenda for the leaders of the US and China will be rare earths and tariffs, with a chance of a relationship reset

Ahead of Thursday’s long-awaited first meeting between Donald Trump and Xi Jinping since the US president’s return to office, officials from both sides have been hammering out the contours of what a trade deal between Washington and Beijing might look like, an agreement that could bring an end to months of global economic chaos caused by the US-China trade war.

The two leaders have not met in person since 2019. Since then, the war in Ukraine and increasing concern in Washington about China’s technological advances, as well as longstanding issues about the imbalanced US-China trade relationship, have strained the bonds between the two superpowers.

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Trump raises tariffs on Canada by 10% in retaliation for anti-tariff TV ad

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Move is response to ad sponsored by Ontario that referenced Ronald Reagan’s support for free trade

Donald Trump announced on Saturday that he will raise US tariffs on Canada by 10% in retaliation for an anti-tariff advertisement sponsored by the Ontario government, which has further strained one of the world’s largest trade partnerships.

The statement, posted on Trump’s Truth Social account, came after several days of public disputes over the ad, which referenced Ronald Reagan’s support for free trade and provoked the US president’s anger.

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US prices rose at a 3% annual rate in September, slightly beating forecasts

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Increase was largely driven by a 4.1% increase in gasoline prices despite Trump’s campaign pledge to ‘end inflation’

Prices continued to rise in September, increasing at an annual rate of 3%, according to the latest government inflation report.

The September 2025 consumer price index (CPI) was published approximately two weeks later than usual due to the federal government shutdown, which halted all Bureau of Labor Statistics operations.

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Trump says all Canada trade talks ‘terminated’ over ad criticising tariffs

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US president accuses Canada of ‘egregious behaviour’ after release of ad featuring Ronald Reagan criticising tariffs

Donald Trump has announced an immediate end to “all trade negotiations” with Canada over a television advertisement opposing US tariffs that quoted the former US president Ronald Reagan.

The ad, which was paid for by the government of the Canadian province of Ontario, uses excerpts of a 1987 speech where Reagan says “trade barriers hurt every American worker”.

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China’s economic growth slows amid Trump tariff war and property woes

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GDP rises by 4.8% year on year between July and September, down from second-quarter growth rate of 5.2%

China’s economy grew at its slowest pace in a year in the latest quarter amid a trade war with the US and long-running woes in its property market.

Fragile domestic demand has left China’s economy heavily reliant on manufacturing and trade, at a time of mounting tensions with the Donald Trump administration.

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