All posts tagged: tariffs

China to slap retaliatory tariffs on some Canadian products

China to slap retaliatory tariffs on some Canadian products

Published by Sam

Containers at the Port of Vancouver in Vancouver, British Columbia, Canada, Feb. 28, 2025. Ethan Cairns/Bloomberg via Getty Images China on Saturday announced retaliatory tariffs on some Canadian agricultural goods, hitting back after Ottawa slapped import duties on Chinese-made electric vehicles and steel and aluminum products. Beijing said a 100% tariff would be imposed on Canadian rapeseed oil, oil cakes and peas, while a 25% levy would be placed on aquatic products and pork originating in Canada. The tariffs are scheduled to come into force from March 20, according to a statement from China’s Customs Tariff Commission of the State Council. The measures come amid a brewing global trade war, following several tariff announcements by the U.S., China, Canada and Mexico in recent months. Canada imposed 100% import tariffs on Chinese-made EVs from Oct. 1 last year, following in the footsteps of the U.S. and the European Union over concerns related to unfair competition. Ottawa also applied a 25% tariff on imports of steel and aluminum products from China, which came into effect from Oct. …

Trump Still Considering Tariffs on Taiwanese Chips, Despite 0 Billion TSMC Deal

Trump Still Considering Tariffs on Taiwanese Chips, Despite $100 Billion TSMC Deal

Published by skeptic

Second, tariffs can only make foreign companies start producing chips in the US if it becomes cheaper than doing it somewhere else. But higher American labor costs and the country’s lack of a sophisticated semiconductor supply chain means moving manufacturing there will take years, if not decades, and there’s little guarantee that such US outposts will be profitable. Faced with US tariffs, it could make more sense for Taiwanese companies like TSMC to simply move production to a third country instead to avoid paying them. But the Trump administration could choose to expand the tariffs to all countries, effectively making production in the US the only viable alternative. It could alternatively apply the tariffs to any end products that contain Taiwanese chips. The latter idea would constitute a significant disruption to the semiconductor industry. A single smartphone can have dozens of chips inside responsible for a range of different functions; a car can potentially have thousands. Figuring out which of them have components from Taiwan, how much those components should be taxed, and how difficult …

South Korea requests exclusion from US plan to increase tariffs

South Korea requests exclusion from US plan to increase tariffs

Published by Sam

SEOUL, SOUTH KOREA —  South Korean officials have asked the Trump administration to exclude their country from U.S. plans to impose aggressive tariffs on trade partners, emphasizing that Seoul is already applying low duties on American products under the free trade agreement between the two nations. South Korea’s government on Friday said Deputy Trade Minister Park Jong-won made the request while traveling to Washington this week for meetings with unspecified officials from the White House, the Department of Commerce and the Office of the U.S. Trade Representative. The South Korean Trade Ministry didn’t say what Park heard from the Americans. Park cited how South Korean companies were contributing to the U.S. economy through large-scale business investments and noted that the country was already imposing low duties on free trade partners such as the United States. He called for South Korea to be excluded from U.S. plans to establish reciprocal tariffs with trade partners and raise duties for imported steel and aluminum, the ministry said. South Korea’s top economic think tank this month slashed its growth …

Why customising your clothes is the ultimate rebellion against Trump’s tariffs

Why customising your clothes is the ultimate rebellion against Trump’s tariffs

Published by skeptic

While fashion and Trump may seem like unlikely counterparts, his policies have a direct impact on the industry’s future. Last week, CNBC reported that: “Trump has said he would impose a 10 per cent or 20 per cent tariff on all imports across the board.” For goods manufactured in China, tariffs could skyrocket to an astonishing 60 per cent or even 100 per cent.  Although the entire supply chain will feel the impact, fashion brands that rely on imports, particularly apparel, will bear the brunt of these financial shifts. This poses a major concern for the industry, as nearly 98 per cent of clothing is produced beyond US borders. Even garments labelled ‘Made in the USA’ often have ties to international supply chains, with fabrics and components sourced largely from Asia. The result? A potentially seismic shift in the way fashion operates on a global scale. © Getty ImagesTrump’s tariffs are set to impact the fashion industry There are two things that can happen here. Either brands increase the cost of their clothing or cut …

Trump to announce 25% steel and aluminum tariffs in latest trade escalation

Trump to announce 25% steel and aluminum tariffs in latest trade escalation

Published by Sam

Canadian, Mexican and Chinese flags. Nurphoto | Nurphoto | Getty Images U.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul. Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday. He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries and matching the tariff rates levied by each country. “And very simply, it’s, if they charge us, we charge them,” Trump said of the reciprocal tariff plan. The largest sources of U.S. steel imports are Canada, Brazil and Mexico, followed by South Korea and Vietnam, according to government and American Iron and Steel Institute data. By a large margin, hydropower-rich Canada is the largest supplier of primary aluminum metal to the U.S., accounting for 79% of …

Trump’s Tariffs Poised to Wreck Nuclear Power

Trump’s Tariffs Poised to Wreck Nuclear Power

Published by José

This really is the dumbest trade war ever. Enemy Mine If Donald Trump makes good on his campaign promise to impose tariffs on Canadian energy imports — now pushed back a month, but still a looming threat — it stands to devastate the nuclear energy market. As Reuters reports, the Canadian mining companies that supplied more than a quarter of the United States’ uranium needs in 2023 — which fuels our nuclear energy plants and, to a lesser extent, our scientific research and industrial manufacturing — are already feeling the brunt of Trump’s tariff threats. Though the president included a “carve-out” for Canadian oil, uranium, coal, electricity, and natural gas, those important exports would still be taxed an additional 10 percent. Look no further than the markets; stocks for Cameco, one of Canada’s largest uranium miners, slumped even further today after plunging 13 percent in the wake of DeepSeek’s insistence that the mineral won’t be that necessary for powering its AI centers. While larger miners like Cameco would likely be able to weather this storm, experts are …

Uncertainty Over Trump Tariffs as Mexico City Art Week Starts

Uncertainty Over Trump Tariffs as Mexico City Art Week Starts

Published by skeptic

As dealers, artists, collectors, and art advisers hopped flights to Guadalajara for ART WKND GDL this past weekend, Mexico’s art scene suddenly found itself ensnared in an incipient trade war, with little clarity on how it might affect the Zona Maco fair, set to kick off its 21st edition Wednesday in Mexico City, or the wider art scene in the country. On Saturday, US President Donald Trump signed executive orders imposing 25 percent tariffs on Mexico, set to take effect on Tuesday. However, on Monday morning, Mexican President Claudia Sheinbaum said in a post on X that Trump had postponed tariffs for one month, after her administration agreed to “reinforce the northern border with 10,000 members of the National Guard to prevent drug trafficking from Mexico to the United States, particularly fentanyl.” Related Articles But for both galleries in Mexico and those traveling to Mexico City to participate in the city’s three fairs—Zona Maco, Material, and Salón Acme—there appears to be both worry and uncertainty over what effect the impending tariffs might have on collectors’ …

The Price America Will Pay for Trump’s Tariffs

The Price America Will Pay for Trump’s Tariffs

Published by José

To understand the harm Donald Trump has done with his tariffs on Canada and Mexico, here are four things you need to know: First, every tax on imports is also a tax on exports. The most popular beer in America is Modelo Especial, brewed in Mexico. Impose a 25 percent tariff on Modelo and sales will slide. So, too, will exports of the American barley that goes into Mexican beer. Mexico buys three-quarters of U.S. barley exports, almost all for brewing. Trump surrogates may promise you that by driving Mexican beer off of grocery shelves, Trump’s tariffs will increase sales of U.S. barley to U.S. brewers. That promise may even be substantially true. But that offer has fine print that barley growers will notice. Barley growers don’t care only about how much barley they sell. They care about the price at which they sell it. A tariff raises the price of both every imported good and every good that competes with imports. If the price of Modelo is pushed up, the price of American-brewed beer …

We have other options – POLITICO

We have other options – POLITICO

Published by Sam

4. BTW, we are still into this globalization thing. At a time when Trump is touting trade tariffs and “America First,” von der Leyen’s speech seemed designed to send the opposite signal: We’re open to doing business with anyone. Von der Leyen addressed potential trading partners directly, saying: “If there are mutual benefits in sight, we are ready to engage with you.” Indeed, a key message from the speech was that Europe wants to diversify its trading relationships away from America.  While Trump is declaring an emergency on America’s southern border and gearing up for tariffs against Mexico, von der Leyen gave special mention to EU trade relations with Latin America. At a time when Trump is touting trade tariffs and “America First,” von der Leyen’s speech seemed designed to send the opposite signal. | Morry Gash/AFP via Getty Images And while acknowledging the economic threat from unfair Chinese trading practices, she also said Europe had to “engage constructively” with Beijing. 5. America? Who? Tellingly, von der Leyen spoke about Africa, the Asia-Pacific region, China …

Trump Announces 25% Tariff For Canada, Mexico; Ramps Up Promised Tariffs On “Drug-Pushing” China

Trump Announces 25% Tariff For Canada, Mexico; Ramps Up Promised Tariffs On “Drug-Pushing” China

Published by skeptic

Just when you thought his choice of Scott Bessent as Treasury Secretary had tamped down the market’s “tariff tensions”, President-Elect Trump reminded everyone who is in charge tonight with drugs and open borders as his main focus. In a statement on his Truth Social account, Trump swung the hammer against Mexico, Canada… “As everyone is aware, thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before. Right now a Caravan coming from Mexico, composed of thousands of people, seems to be unstoppable in its quest to come through our currently Open Border. On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders. This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country! Both Mexico and Canada have the absolute right and power to easily solve …