tariffs

A machine produces semiconductors on the production line of a semiconductor manufacturing enterprise in Binzhou, China, on January 20, 2025. Photo by Costfoto/NurPhoto via Getty Images/Files

April 15, 2025 11:57 AM

US steps up probes into pharmaceutical, chip imports, setting stage for tariffs

The Trump administration is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed. The filings announce 21-day public comment periods and mark President Donald Trump's latest use of Section 232 of the Trade Expansion Act of 1962 as justification for so-called sectoral tariffs...

April 11, 2025 9:54 AM

Global stocks, dollar sink, bonds pummelled again as trade war roils markets

Global stocks slumped and the dollar sank further on Friday, while a manic bond selloff took hold in a brutal end to the week of tit-for-tat worldwide tariffs that have fed fears of a deep recession and shaken investor confidence in U.S. assets. The anxiety has sparked a rush into safe havens, sending the Swiss franc soaring to a decade high against the dollar, and gold to a new peak after a brief but massive relief rally following U.S. President Donald Trump's move to temporarily lower tariffs...

April 8, 2025 9:13 AM

China criticises Trump tariff ‘blackmail’ as market turmoil settles

China said it would not bow to "blackmail" from the United States as a global trade war touched off by U.S. President Donald Trump's sweeping tariffs showed little sign of abating on Tuesday even as battered stock markets steadied. The rebuke came after Trump said he would impose an additional 50% duty on U.S. imports from the world's No.2 economy on Wednesday in response to Beijing's decision to match the 34% 'reciprocal' duties Trump initially unveiled last week. "The U.S. side's threat to e...

April 7, 2025 3:23 PM

They’re Dying to Make a Deal: Trump Stands Firm on ‘Reciprocal Tariffs’

As global stock markets plunged on Monday, US President Donald Trump defended his controversial tariff policies, dismissing concerns over their economic impact. He said that world leaders are "dying to make a deal" to negotiate the reciprocal tariffs. With Asian markets opening to significant losses and US futures signaling further declines, Trump sought to downplay fears, suggesting that the market pain caused by his tariffs was a necessary "medicine" to fix longstanding trade imbalances. On ...

April 7, 2025 9:27 AM

Asian stocks dive as tariff tensions rise

Major stock indexes plunged in Asia on Monday as White House officials showed no sign of backing away from their sweeping tariff plans, and investors wagered the mounting risk of recession could see U.S. interest rates cut as early as May. Futures markets moved swiftly to price in almost five quarter-point cuts in U.S. rates this year, pulling Treasury yields down sharply and hampering the dollar. The carnage came as President Donald Trump told reporters that investors would have to take their...

April 3, 2025 9:29 AM

Global stocks slump as US tariffs hit tech hardest

Stocks dived and investors scrambled to the safety of bonds, gold and the yen on Thursday as U.S. President Donald Trump unveiled a bigger-than-expected wall of tariffs around the world's largest economy, upending trade and supply chains. The high-flying tech sector was pummelled as manufacturing hubs in China and Taiwan faced new tariffs above 30%, bringing the total new levy to an eye-watering 54% on imports from China. "The U.S. effective tariff rate on all imports look to be the highest le...

April 3, 2025 9:00 AM

Trump’s sweeping import tariffs amp up global trade war

President Donald Trump's decision to slap a 10% tariff on most goods imported to the United States, as well as higher duties on dozens of countries from rivals to allies, has intensified a global trade war that threatens to stoke inflation and stall growth. The sweeping duties announced against the serene backdrop of the White House Rose Garden on Wednesday immediately unleashed turbulence across world markets and drew condemnation from other leaders now faced with the end of decades of tra...

April 2, 2025 9:10 AM

White House says Trump will go ahead with tariffs as nervous world awaits trade war

The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers that have businesses, consumers and investors fretting about an intensifying global trade war. Trump has for weeks trumpeted April 2 as a "Liberation Day" that will see dramatic new duties that could upend the global trade system, with a White House Rose Garden announcement scheduled for 4 p.m. Eastern Time (2000 GMT)....

April 1, 2025 9:01 AM

Global stocks stabilise, gold hits record as Trump prepares to unveil reciprocal tariffs

Asian equities rose on Tuesday following Wall Street's overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of U.S. President Donald Trump's reciprocal tariffs. The Japanese yen strengthened as traditional haven assets drew demand. Meanwhile, the risk-sensitive Australian dollar was under pressure after a soft reading of local retail sales, ahead of a Reserve Bank of Australia policy decision later in the day. Regional stocks found some respite o...

March 27, 2025 9:59 AM

Trump announces 25% tariffs on imported cars

U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production. "What we're going to be doing is a 25% tariff for all cars that are not made in the United States," Trump said at an event in the Oval Office. Trump, who sees tariffs as a tool to raise revenue to offset his p...