Tariffs

Trump tariffs live updates: Trump's massive 50% India tariffs kick in, EU looks to fulfill Trump demand

Yahoo Finance is chronicling the latest news and updates on Trump's tariffs.

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Even a 15% tariff rate for autos means new car prices could rise about 8.1%, or $4,300: Report

Consumers are going to be paying a lot more for new cars, even if the White House strikes tariff deals with the biggest exporters.

Trump makes good on threat to impose 50% tariffs on India imports

President Donald Trump made good on his threat to double tariffs on imports from India to 50%, a move that could endanger relations with one of America’s most important trading partners and send consumer prices higher.

Tariff jitters spark jump in USMCA claims on Mexico, Canada goods

More shippers are tapping United-States-Mexico-Canada Agreement exemptions to avoid higher duties. The post Tariff jitters spark jump in USMCA claims on Mexico, Canada goods appeared first on FreightWaves.

Japan’s Akazawa to Visit US, Push for Start of Lower Car Tariffs

Japan wants the US to cut its tariffs on cars and car parts to 15% and to end the stacking of previous duties on 15% universal tariffs. “The revision of reciprocal tariffs and the cut of auto tariffs are expected to take place simultaneously,” Akazawa said at a press conference in Tokyo on Wednesday evening. Akazawa plans to return to Japan on Saturday.

European Union mulls removing US tariffs this week, Bloomberg News reports

The European Union is aiming to expedite legislation to remove all tariffs on U.S. industrial goods by the end of the week, a demand made by President Donald Trump before the U.S. will lower its duties on the bloc's automobile exports, Bloomberg News reported on Wednesday. Reuters could not immediately confirm the report.

German firms want tough action from EU in U.S. tariff talks, DIHK says

The German Chambers of Industry and Commerce (DIHK) said on Wednesday that its poll of firms in August showed they want a clear strategy from the EU even if this could impact their own business. "The EU must clearly preserve its regulatory autonomy and economic sovereignty and must not jeopardise them for the sake of short-term trade deals," said Volker Treier, a foreign trade specialist at the DIHK. Washington and Brussels struck a framework trade deal at the end of July, setting a baseline tariff of 15% on EU goods imported by the U.S., followed by a more detailed joint statement last week.

EU to Propose Removing US Tariffs This Week to Meet Trump Demand

The European Commission, which handles trade matters for the EU, will also give preferential tariff rates on certain seafood and agricultural goods, according to people familiar with the matter. The EU has conceded that the trade arrangement struck with Trump favors the US but that the accord is necessary to give businesses stability and certainty.

Japan remains cautious on economic impact of tariffs in August report

TOKYO (Reuters) -The Japanese government reiterated concerns about the risks of U.S. trade policies to economic growth, prompting a downgrade of its view on corporate profits, in a monthly report released on Wednesday. While Japan's economy grew much faster than expected in the April-June quarter, analysts warn global economic uncertainties fuelled by U.S. tariffs could weigh on the world's fourth-largest economy in the coming months. In the Cabinet Office's monthly economic report for August, the government maintained an overall assessment that the economy is recovering "at a moderate pace," although the effects from U.S. tariffs are seen in some areas.

India’s Russian oil gains are set to get wiped out by Trump’s tariffs

NEW DELHI (Reuters) -India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight. Analysts estimate India has saved at least $17 billion by increasing oil imports from Russia since early 2022. U.S. President Donald Trump's decision to impose additional tariffs of up to 50% on Indian imports could slash exports by more than 40%, or nearly $37 billion, this April-March fiscal year alone, according to New Delhi think-tank Global Trade Research Initiative (GTRI).