U.S. tariffs

February 3, 2025 6:27 PM

Europe braces for Trump trade tariffs, as levies on Canada, Mexico, China roil markets

European leaders were bracing for U.S. tariffs on Monday after President Donald Trump imposed sweeping levies on Mexico, Canada and China that will affect billions of dollars worth of trade, roiling global markets and currencies. Trump said the tariffs against the three largest U.S. trading partners, which take effect on Tuesday, might cause Americans some short-term pain, but "long term, the United States has been ripped off by virtually every country in the world". Global stock markets and c...

January 13, 2025 4:09 PM

India faces $14.6 billion tariff burden If US imposes 20% duty: BCG report

India's trade trajectory could face significant headwinds if the United States enforces a 20% across-the-board tariff on imports from the country, according to a report by Boston Consulting Group (BCG). Such a move would add an estimated $14.6 billion in additional duties, with sectors like biopharma and auto parts expected to bear the brunt. The report highlighted that US imports from India totaled $84 billion in 2023, with India currently benefiting from a low effective tariff rate of 3%. How...

December 17, 2024 12:08 PM

Canada finance minister quits after clash with Trudeau over Trump tariffs, spending

Canadian Finance Minister Chrystia Freeland quit on Monday after clashing with Prime Minister Justin Trudeau on issues including how to handle possible U.S. tariffs, dealing an unexpected blow to an already unpopular government. Freeland said she was quitting in the wake of a meeting last Friday with Trudeau, who asked her to take on a lesser post after the two had been arguing for weeks over spending. Public Safety Minister Dominic LeBlanc - a member of Trudeau's inner circle - was quickly na...