Tariffs

US Aluminum Premium Climbs to Record Amid Trump’s Canada Tariffs

(Bloomberg) -- The regional premium for aluminum delivered to the US market stood at a record high as US President Donald Trump said he’ll impose a 50% tariff on Canadian shipments of the lightweight metal.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsWhere New York City's Zoning Reform Will Add HousingElectric Construction Equipment Promises a Quiet RevolutionInside the ‘Not Architecture’ of High Line Designer

Stock market today: Dow, S&P 500 lead losses as struggles continue amid Trump's latest tariff threats

Stock markets built on the latest steep losses driven by recession fears.

Tariffs Take The Bond Market For a Ride—What's Next?

The bond market is confused over what to make of President Donald Trump’s quickly shifting trade policies, but the next moves from the Federal Reserve and the stock market could inform what traders will do next.

Puma Cites Tariffs, Geopolitical Tensions in 2025 Forecast

(Bloomberg) -- Puma SE forecast another slow year of growth in 2025 due to global trade tariffs, currency volatility and geopolitical tensions.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsWhere New York City's Zoning Reform Will Add HousingElectric Construction Equipment Promises a Quiet RevolutionInside the ‘Not Architecture’ of High Line Designers Diller Scofidio + RenfroThe German sportswear brand expects c

Trump's tariffs on steel, aluminum to raise costs for US energy firms, experts say

The proposed U.S. tariffs on steel and aluminum imports are poised to escalate costs for U.S. oilfield services companies, which rely on these metals for their operations. Oilfield services firms such as ChampionX and Patterson-UTI are the backbone of the North American oil and gas industry, supplying essential equipment and services for drilling, production and maintenance. The lifeblood of this sector - drilling rigs, pipelines, refineries, compressors, storage tanks and offshore platforms - is steel.

House Republicans Block Potential Challenges to Trump Tariffs

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsWhere New York City's Zoning Reform Will Add HousingElectric Construction Equipment Promises a Quiet RevolutionInside the ‘Not Architecture’ of High Line Designers Diller Scofidio + RenfroHouse Republicans blocked Democrats from forcing a painful vote on Donald Trump’s tariffs a

Markets aren't happy, but US steel and aluminum makers don't totally hate Trump's new tariffs

Donald Trump's latest threat of 50% tariffs on Canadian steel and aluminum upended markets Tuesday, but his plan for duties there could be heartily welcomed by American manufacturers of those products.

Bank of Canada to Cut as Tariffs Strike Economy

(Bloomberg) -- The Bank of Canada is likely to cut interest rates for a seventh straight meeting on Wednesday as the country braces for a trade war that will plunge the economy into recession unless there’s a swift resolution.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsWhere New York City's Zoning Reform Will Add HousingElectric Construction Equipment Promises a Quiet RevolutionInside the ‘Not Architecture’ o

Tariff chaos could push Mexico into technical recession

Mexico's economy appears on track to contract in the first quarter, entering a technical recession, according to analysts, as U.S. President Donald Trump’s on-again, off-again tariffs wreak havoc on growth that was already weakening. “The damage is already done, maybe there's a slight recovery in the second quarter, but this quarter is lost,” said Marco Oviedo, senior strategist for Latin America at XP Investments. During the final months of 2024, Mexico had its first quarterly GDP slump since the pandemic.

California almond growers grapple with uncertainty as new tariffs could hit exports

California almond growers are used to dealing with swings in the weather and water supply. With more than three-quarters of California's almond crop headed for export, tariffs could impact where the nut is headed and send ripple effects throughout the state's economy, experts said. The state is the biggest producer of the world's almonds, accounting for about 80 percent of the global supply.

Trump's expanded metals tariffs to hit goods from horseshoes to bulldozer blades

WASHINGTON (Reuters) -U.S. President Donald Trump's bulked-up tariffs on steel and aluminum due to launch within hours will hit nearly $150 billion worth of derivative products made from the metals, ranging from nuts and bolts to bulldozer blades and threatening cost increases for industry and consumers alike. The metals tariffs were set for an effective increase to 25% as prior exemptions, exclusions and quotas expire at 12:01 a.m. EDT (0401 GMT) on Wednesday, with hundreds of downstream products subjected to the duties for the first time. Trump on Tuesday lashed out at Canada amid rising trade tensions with the U.S. ally, threatening 50% tariffs on Canadian steel and aluminum, but later backed off after Ontario Premier Doug Ford withdrew a 25% surcharge on the province's electricity exports to the U.S.

Gold Climbs as Investors Seek Safety Amid Tariff Flip-Flop

(Bloomberg) -- Gold climbed — regaining a small foothold above $2,900 an ounce — as traders sought safety in bullion, with President Donald Trump’s latest tariff announcement intensifying concern that a global trade war could risk tilting the US economy into a recession. Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsWhere New York City's Zoning Reform Will Add HousingElectric Construction Equipment Promises a Q

Lego CEO on Trump tariffs: We won't let it destroy our momentum

Lego CEO Niels B. Christiansen weighs in on the potential impact of Trump tariffs.

Carlyle’s Currie Says Tariffs to Add Security Premium for Metals

(Bloomberg) -- Carlyle Group Inc.’s Jeff Currie warned of a “security premium” that will be added to the cost of metals like copper as tariffs mean that countries will need to pay more to ensure domestic supplies.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a

UK will not respond to US steel tariffs, British official says

Britain will not impose retaliatory trade tariffs in response to U.S. duties on all steel and aluminium imports which are due to come into force on Wednesday, a British government official said on Tuesday. While the European Union plans to hit back against the 25% US tariffs on imports of the metals, the official - who asked not to be identified - said Britain would continue to engage with the U.S. in an attempt to secure an exemption. Prime Minister Keir Starmer's official spokesman said on Monday that the UK and the US had a strong economic relationship which was "based on fair and balanced, reciprocal trade."

Tariff Turmoil Leaves US Factories Paying More for Metal Than Overseas Rivals

(Bloomberg) -- American manufacturers are paying much higher prices for aluminum, steel and copper than rival plants overseas, in a trend that’s sapping business confidence and stoking worries about inflation even before tariffs on metals come into effect.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingTrump DEI Purge Hits Affordable Housing Groups

Aluminium premiums for US buyers hit record after Trump doubles tariffs

LONDON (Reuters) -Premiums for consumers buying aluminium on the physical market in the United States soared to record highs on Tuesday after President Donald Trump said he would double tariffs on Canadian metal to 50%. The doubling of levies, in response to the Canadian province of Ontario placing a 25% tariff on electricity coming into the U.S., take effect from Wednesday. Consumers buying aluminium on the physical market typically pay the London Metal Exchange (LME) benchmark aluminium price plus a premium that covers taxes, transport and handling costs.

Teradyne Stock Plunges as Firm Warns About Tariffs, Trade Restrictions

Shares of Teradyne slumped 17% to lead S&P 500 decliners Tuesday, as the maker of testing equipment for chips and electronics updated its guidance in response to the potential impact of Trump administration trade moves.

Canola Hits Three-Month Low on Trump Call for New Canada Tariffs

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingInside the ‘Not Architecture’ of High Line Designers Diller Scofidio + RenfroElectric Construction Equipment Promises a Quiet RevolutionCanola futures extended a drop to the lowest levels since December after Pres

The Job Market Got Better In January, Before Tariff Turmoil

Key measures of the job market's health improved in January, in a final snapshot taken before President Donald Trump's trade wars shook up the economy.

Businesses sound alarm as Trump tariff chaos hits the economy

With each day, evidence is mounting across the corporate world that the chaotic implementation of U.S. President Donald Trump's tariffs is translating into caution on Main Street. The uncertainty brought by Trump's threats of tariffs and his shape-shifting trade policies is starting to have a chilling effect across many industries, businesses warn, as consumers pull back on everything from basic goods to travel. The White House fired another salvo on Tuesday, when Trump said he would double the planned tariff on all steel and aluminium imports from Canada to 50%.

Few Consumers Are Buying American-Made Products. Will Tariffs Change That?

A new survey shows that while buying American is not a top priority for consumers now, that could change if tariffs drive up prices.

US-Canada trade war heats up as Trump doubles metals tariffs, then backs off

WASHINGTON/OTTAWA (Reuters) -President Donald Trump reversed course on Tuesday afternoon on a pledge to double tariffs on steel and aluminum from Canada to 50%, just hours after announcing the higher tariffs, in rapid-fire moves that scrambled financial markets. Trump's latest salvo, which whipsawed financial markets and rekindled fears of inflation, followed Ontario Premier Doug Ford's announcement that he would place a 25% surcharge on the electricity Canada's most populous province supplies to more than 1 million U.S. homes unless Trump dropped all of his tariff threats against Canada's exports into the U.S.

Trump says he will double planned tariffs on Canadian aluminum and steel, sticking with trade war despite market drop

Trump says he will double planned tariffs on Canadian aluminum and steel, sticking with trade war despite market drop.

Trump halts doubling of tariffs on Canadian metals, after Ontario suspends electricity price hikes

President Donald Trump 's threat on Tuesday to double his planned tariffs on steel and aluminum from 25% to 50% for Canada led the provincial government of Ontario to suspend its planned surcharges on electricity sold to the United States. As a result, the White House trade adviser Peter Navarro said the U.S. president pulled back on his doubling of steel and aluminum tariffs, even as the federal government still plans to place a 25% tariff on all steel and aluminum imports starting Wednesday. The drama on Tuesday delivered a win for Trump but also amplified concerns about tariffs that have roiled the stock market and stirred recession risks.

China tightens trade rules as Canadian tariffs spark price volatility

Zhengzhou Exchange on Tuesday raised the trading margin requirements for some rapeseed meal futures contracts to 9% from 7% after Beijing's 100% tariff on Canadian imports triggered a two-day rally that pushed prices to a five-month high. The most active rapeseed meal futures contract surged 7.23% to close at 2,684 yuan per metric ton, building on a 6% gain in the previous session, to its highest since September 2024. The new trading margin requirements will be effective from settlement on March 12.

US car buyers rush to dealer lots to avoid tariff-related price hikes

After Matthew Mitchell heard U.S. President Donald Trump was serious about implementing 25% tariffs on Mexico and Canada, he told his wife it was time to snatch up a car, and fast. Mitchell is part of a group of buyers who say they expedited their car shopping out of concern that Trump's tariff threats would result in showroom sticker shock. Many U.S. automakers have already gotten two reprieves on tariffs since Trump said they would take effect in early February.

Trump defends tariffs, meets corporate America as economic fears nip stocks

WASHINGTON (Reuters) -U.S. President Donald Trump defended his tariff policies on Tuesday as he met the CEOs of America's biggest companies, including many whose market value has dipped in recent days as recession and inflation fears soured consumer and investor sentiment. The Republican president spoke to about 100 CEOs at a regular meeting of the Business Roundtable in Washington, an influential group of CEOs leading major U.S. companies, which include Apple, JPMorgan Chase and Walmart. Trump said his increased tariffs on many imports, which have rattled global markets and prompted stock selloffs, will have a tremendously positive impact over time.

Trump's tariffs create the 'Wild West' on Wisconsin's factory floors

AriensCo - a manufacturer of bright orange snowblowers - has braced for the cold blast of tariffs since November. "I mean, he campaigned on tariffs," said Nicholas Ariens, president and chief operating officer of the family-owned manufacturer in Brillion, Wisconsin, referring to President Donald Trump's frequent vows to boost import taxes if elected, "so we've basically been preparing since the election." AriensCo makes most products in its U.S. plants with mostly U.S. materials, but could end up paying more for raw materials like steel and imported components, while its exports to places like Canada could get hit with counter tariffs.

What Trump actually wants from tariffs

President Donald Trump says he believes tariffs are a panacea: a catch-all economic tool that can restore America’s manufacturing prowess, bring foreign nations to heel on key disputes, restore the balance of trade and bring in gobs of money that can help pay off the US deficit and reduce Americans’ tax burdens.

US-China Tariff Talks Stuck at Lower Levels, Stoking Frustration

(Bloomberg) -- Talks between the US and China on trade and other issues are stuck at lower levels, people familiar with the matter said, with both sides talking past each other and failing to agree on the best way to proceed.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpWhere New York City's Zoning Reform Will Add HousingInsid

Spanish fashion retailer Mango adapting to US tariffs, CEO says

Spanish fashion retailer Mango is adapting to tariffs imposed by the Trump administration on imports from China and could rethink the types of products it sells in the U.S., which is its fifth-largest market, the company's chief executive said. Mango does not plan to raise prices to offset the impact of tariffs, even though that could dent its margins, CEO Toni Ruiz said late on Monday in a joint interview with Reuters and French newspaper Les Echos at Mango's headquarters outside Barcelona. U.S. President Donald Trump imposed fresh duties on Chinese goods last week after declaring China had failed to do enough to stem the flow of deadly fentanyl and its precursor chemicals into the United States.

Japan's trade minister fails to win US assurances on tariff exemptions

Japan’s trade minister said this week that he has failed to win assurances from U.S. officials that the key U.S. ally will be exempt from tariffs, some of which take effect on Wednesday. Yoji Muto was in Washington for last ditch negotiations over the tariffs on a range of Japanese exports including cars, steel and aluminum. Muto said Monday in Washington that Japan, which contributes to the U.S. economy by heavily investing and creating jobs in the United States, “should not be subject to” 25% tariffs on steel, aluminum and auto exports to America.

Tariffs topple stocks, no sign of 'Trump put'

U.S. stocks finally caught up overnight with what currency and bond markets have been saying for several weeks: A slowdown is coming. Tesla shares have halved since their post-election peaks and the dollar, which had been rising in anticipation of Donald Trump's policies, has now begun sliding as he slaps tariffs on his neighbours. Citi downgraded its U.S. asset allocation recommendation, cutting stocks to "neutral" from "overweight" after the market closed, saying that for the next few months at least it's not clear that the U.S. economy's outperformance can continue.

PHOTO COLLECTION: Tariffs Kentucky Bourbon

This is a photo collection curated by AP photo editors.

Euro rises with Ukraine optimism while stocks fall on tariff uncertainty

NEW YORK/LONDON (Reuters) -Ukraine's acceptance of a U.S. proposal for a ceasefire with Russia briefly pushed the euro to a five-month high while equities fell in Tuesday's choppy session as investors worried about a lack of clarity on tariffs. The euro added to earlier gains and European stock futures pared some losses after Ukraine agreed to an immediate 30-day ceasefire during talks with U.S. officials in Saudi Arabia. While the Ukraine news helped U.S. stock indexes end Tuesday well above their session lows, traders were having to make decisions amid dizzying changes on trade.

Euro jumps to five-month high on hopes for Ukraine ceasefire; Canadian dollar rebounds after Trump tariffs

NEW YORK (Reuters) -The euro hit a five-month high on Tuesday after Ukraine agreed to a 30-day ceasefire proposal, while the dollar rose to a one-week high before weakening against the Canadian dollar following U.S. President Donald Trump's additional tariffs on Canada. Trump doubled his planned tariff on all steel and aluminum imports from Canada to 50% after Ontario province imposed a 25% tariff on electricity sent to the U.S. Ukraine agreed to accept an immediate 30-day ceasefire in the conflict with Russia during talks with U.S. officials in Saudi Arabia.

Surge in Canadian Crude Signals Tariff Concern Is Waning

(Bloomberg) -- Concern about President Donald Trump’s threats to impose tariffs on US imports of Canadian oil is waning as the duties’ start date keeps getting pushed back, strengthening local crude prices.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpInside the ‘Not Architec

Peru Prepares US Delegation in Bid to Avert Copper Tariffs

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpInside the ‘Not Architecture’ of High Line Designers Diller Scofidio + RenfroWorld No. 3 copper supplier Peru will send a delegation to meet

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