U.S. tariffs

April 17, 2025 10:15 AM

World Bank’s Banga urges developing nations to lower tariffs, focus on regional trade

World Bank President Ajay Banga urged developing countries on Wednesday to liberalize trade, saying many maintained higher tariffs than advanced economies and lowering them could offset the risk of reciprocal import taxes. Banga told reporters that global uncertainty - triggered in recent months by U.S. tariffs and retaliatory measures announced by China and other countries - was contributing to a more cautious business and economic environment. He said the impact would vary country by country...

April 14, 2025 11:39 AM

China’s March exports jump in temporary boost as Trump 2.0 heaps pressure

China's exports rose sharply in March after factories rushed out shipments before the latest U.S. tariffs took effect, but an escalating Sino-U.S. trade war has darkened the outlook for factories and growth in the world's second-biggest economy. U.S. President Donald Trump has ratcheted up tariffs on Chinese goods to hefty levels that many economists say will profoundly impact global trade flows and business investment. Exports rose 12.4% year-on-year, a five-month high, handily beating the 4....

April 9, 2025 2:36 PM

EU countries set to approve first retaliation against U.S. tariffs

European Union countries are expected to approve on Wednesday the bloc's first countermeasures against U.S. President Donald Trump's tariffs, joining China and Canada in retaliating and escalating a conflict that could become a global trade war. The approval will come on the day that Trump's "reciprocal" tariffs on the EU and dozens of countries took effect, including massive 104% duties on China, extending his tariff onslaught and spurring more widespread selling across financial markets. The...

March 21, 2025 10:41 AM

Asian stocks slide as growth, tariff worries weigh

Asian stocks fell on Friday in a downbeat end to the week as deepening geopolitical worries and fears over U.S. tariffs and their impact on the global economy curbed investors appetite for risk, keeping safe-haven gold near record highs. Futures for the S&P 500 and Nasdaq were steady in Asian hours, while European futures pointed to a weak open. Policymakers across the globe struck a cautious note in a week filled with central bank meetings as uncertainty in global economics and politics g...

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...