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Donald Trump announces new 25% tariffs on cars from overseas

Thursday, 27 March 2025 00:24

25% tariff Donald Trump announced plans to impose sweeping 25% tariffs on cars from overseas on Wednesday, days before the US president is expected to announce wide-ranging levies on other goods from around the world.

“What we’re going to be doing is a 25% tariff for all cars that are not made in the United States,” Trump said in the Oval Office. “We start off with a 2.5% base, which is what we’re at, and go to 25%.”

The announcement drew swift condemnation from the European Union and from the Canadian prime minister, Mark Carney, who called it a “direct attack” on Canadian workers. “We will defend our workers, we will defend our companies, we will defend our country, and we will defend it together,” Carney said.

Fear and resignation after ‘world’s most powerful company’ pays Trump a $100 billion ‘protection fee’

Friday, 14 March 2025 23:21

Chip company pays protecction money to Trump

It was a surprise ceremony at the White House presided over by President Donald Trump to unveil a $100 billion investment from what he called the world’s most powerful company, Taiwan Semiconductor Manufacturing Company (TSMC).

But nearly 8,000 miles away, the mood was far from celebratory. Instead, the shock announcement last week has reignited fears in Taiwan about losing its crown jewel, its world-beating semiconductor industry, to the US due to political pressure.

S&P 500 falls more than 10% below recent high as markets rattled by Trump

Thursday, 13 March 2025 22:38

The S&P 500, a key US stock market index, closed in correction territory on Thursday as the volatility of Donald Trump’s trade wars rattled investors.

The index closed more than 10% down from its 19 February peak as Wall Street approaches the end of a second week of pressure.

The technology-focused Nasdaq Composite also closed in correction last Thursday, while the Dow is over 9% down from its peak in December.

Canada And The EU Swiftly Retaliate Against Trump's Steel And Aluminum Tariffs

Wednesday, 12 March 2025 23:29

steel and aluminum tariffs Major trade partners swiftly hit back at President Donald Trump’s increased tariffs on aluminum and steel imports, imposing stiff new taxes on U.S products from textiles and water heaters to beef and bourbon.

Canada, the largest supplier of steel and aluminum to the U.S., said Wednesday it will place 25% reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products.

‘Hit them where it hurts’: Americans boycott corporations to protest anti-DEI policies

Saturday, 01 March 2025 00:13

On Friday, Americans across the country are participating in an economic boycott for 24 hours.

Organized by the People’s Union USA, a nonpartisan, grassroots organization, the boycott quickly picked up steam across social media, with thousands of users sharing posts with related hashtags. Participants are asked not to spend any money, and if they need to, it is recommended that they shop at a local, small business and pay in cash.

“February 28 is a symbolic start to economic resistance, a day where we show corporations and politicians that we control the economy,” reads the organization’s website. “The date itself is not tied to any historical event, it is the beginning of something bigger.”

Spurred by anger about companies rolling back their diversity, equity and inclusion (DEI) efforts, in response to large-scale government cuts by Donald Trump and Elon Musk’s so-called “department of government efficiency” (Doge), some consumers are attempting to show their discontent with their wallets.

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Trump moves to slap tariffs on nearly every nation, boosting trade war

Thursday, 13 February 2025 18:02

Trump slaps tariffs on all countries President Donald Trump signed an memorandum on Thursday instructing his administration to pursue reciprocal tariffs against nations that put fees on U.S. exports, escalating a trade war that could lead to higher costs for Americans.

Trump did not immediately put tariffs in place. He directed trade officials to go country by country and put together a slate of tailored counter measures.

The tariffs are expected to be equivalent to the fees that individual countries put on products that are imported from the U.S., including tariffs and taxes, and take into account regulatory requirements and subsidies affecting U.S. businesses and consumers.

"Whatever they charge us, we're charging them," Trump said Thursday. "It's a beautiful simple system."

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Trump to announce 25% aluminum and steel tariffs in latest trade escalation

Sunday, 09 February 2025 23:02

new tariffs on steel and aluminum

Donald Trump has said he will announce new 25% tariffs on all steel and aluminum imports into the US on Monday that would affect “everybody’, including its largest trading partners Canada and Mexico, in another major escalation of his trade policy overhaul.

The US president, speaking to reporters on Air Force One on Sunday, also said he would announce reciprocal tariffs – raising US tariff rates to match those of trading partners – on Tuesday or Wednesday, which would take effect “almost immediately”. “And very simply, it’s, if they charge us, we charge them,” Trump said of the reciprocal tariff plan.