tariffs | DD News

March 12, 2025 11:36 AM

EU to impose counter tariffs on over $28 billion of US goods

The European Union will impose counter tariffs on 26 billion euros ($28.33 billion) worth of U.S. goods from next month in response to U.S. tariffs on steel and aluminium, the European Commission said in a statement on Wednesday. The commission said it will end the current suspension of tariffs on U.S. products on April 1 and will also put forward a new package of countermeasures on U.S. goods by mid-April. "This matches the economic scope of the U.S. tariffs. Our countermeasures will be intro...

March 7, 2025 9:48 PM

Trump says he is considering putting banking sanctions, tariffs on Russia

U.S. President Donald Trump said on Friday that he is "strongly considering" imposing sanctions, including ones on banking, and tariffs on Russia until a ceasefire and peace agreement is reached with Ukraine.` Trump has also paused military aid and intelligence sharing to Ukraine to pressure Kyiv to accept a ceasefire deal after an explosive Oval Office meeting with Ukrainian President Volodymyr Zelenskiy a week ago. "Based on the fact that Russia is absolutely 'pounding' Ukraine on the battle...

March 7, 2025 9:02 AM

Trump delays tariffs for goods under Mexico, Canada trade deal

President Donald Trump suspended on Thursday the 25% tariffs he imposed this week on most goods from Canada and Mexico, the latest twist in a fluctuating trade policy that has whipsawed financial markets and fanned worries over inflation and a growth slowdown. The exemptions, covering the two largest U.S. trading partners, expire on April 2 when Trump has threatened to impose a global regime of reciprocal tariffs on all U.S. trading partners. Trump had imposed a 25% levy on imports from both ...

March 6, 2025 10:14 AM

Trump exempts some automakers from Canada, Mexico tariffs for one month

U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules, the White House said on Wednesday, a development that halted at least for now Wall Street's steepest skid in nearly three months. Trump is also open to hearing about other products that should be exempted from the tariffs, which took effect Tuesday, the White House said. But Trump made clear he was not calling off his tr...

March 5, 2025 12:30 PM

Trudeau dismisses ‘very dumb’ tariffs, says Trump wants to ruin Canadian economy

Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his tariffs on Canadian imports were "a very dumb thing to do" and said Ottawa was striking back immediately at its closest ally. Trudeau, who is stepping down at the end of the week, also accused Trump of wanting to ruin the Canadian economy. Speaking hours after Trump launched a trade war against Mexico and Canada, Trudeau announced immediate 25% tariffs on C$30 billion worth of U.S. imports. If need be, Canada wi...

March 4, 2025 11:52 AM

Trade wars erupt as Trump hits Canada, Mexico, China with steep tariffs

U.S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.S. trading partners. The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade went live at 12:01 a.m. EST (0501 GMT), hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid and its pr...

February 28, 2025 10:55 AM

Trump vows March 4 tariffs for Mexico, Canada, extra 10% for China over fentanyl

U.S. President Donald Trump on Thursday said his proposed 25% tariffs on Mexican and Canadian goods will take effect on March 4 along with an extra 10% duty on Chinese imports because deadly drugs are still pouring into the U.S. from those countries. Trump told reporters in the Oval Office that the fresh tariffs on Chinese imports would stack on top of the 10% tariff that he levied on Feb. 4 over the fentanyl opioid crisis, resulting in a cumulative 20% tariff. Trump first announced the new du...

February 27, 2025 9:18 AM

Trump to impose 25 percent tariffs on EU, claims bloc was ‘formed to screw US’

US President Donald Trump has said that his administration has made a decision to impose 25 per cent tariffs on products from the European Union (EU), including cars and claimed that the EU -- a 27-country bloc -- was "formed to screw the US". "We have made a decision. We'll be announcing it very soon, and it'll be 25 per cent generally speaking, and that'll be on cars and all other things," Trump told reporters on Wednesday at a White House Cabinet meeting. The EU is the US's third largest tr...

February 14, 2025 9:00 AM

We are being reciprocal with India, says Trump on tariffs

U.S. President Donald Trump reiterated his stance on tariff reciprocity during a joint press conference with Prime Minister Narendra Modi, emphasizing that the United States will match the tariffs imposed by other countries, including India, to ensure fair trade. "We are, right now, a reciprocal nation. If it's India or any other country with low tariffs, we are going to have the same. Whatever India charges, we will charge them. Whatever another country charges, we will charge them," Trump sta...

February 11, 2025 9:35 AM

Trump raises tariffs to 25% on aluminum and steel imports

President Donald Trump substantially raised tariffs on steel and aluminum imports on Monday to a flat 25% "without exceptions or exemptions" in a move to aid the struggling industries but which increases the risk of a multi-front trade war. Trump signed proclamations raising the U.S. tariff rate on aluminum to 25% from his previous 10% rate and eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals. A White House ...