How soon will prices rise as a result of President Trump’s reciprocal tariffs?
President Donald Trump announced on Wednesday reciprocal tariffs on imports from all countries. He wants to raise U.S. taxes on foreign goods to narrow the gap with the tariffs the White House says other countries unfairly impose. The Constitution grants the president the power to set tariffs, but Congress has delegated that power to the president through several laws.
European markets opened lower on Thursday after a sharp selloff across Asia and US futures signalled similar falls when Wall Street opens. It followed a major sell-off in Asia where trading partners were hit with some of the highest tariff rises above the baseline 10%. Japan’s Nikkei and Topix fell 3.3% and 3.5%, respectively, after the US president applied a …
Highlights: Trump Imposes Vast Global Tariffs
Mr. Trump’s announcement of sweeping tariffs on America's trading partners has widened the rift between the U.S. and some of its closest allies. Some leaders reacted strongly to the wave of tariffs, which many see as overturning the global trade order established after World War II.
The Dow Jones Industrial Average is down 3.3%, the Nasdaq composite is 5.1%, and the Russell 2000 is down 5.9%. The S&P 500 index is 10% below its all-time high. The 10-year Treasury yield fell to 4.04%, from 4.20%.
Trump Tariffs Live Updates: Global Powers Warn of Trade War Over New Tariffs
On Wednesday, President Trump imposed tariffs on all U.S. trade partners as well as additional, heavier duties on 60 countries he deemed the “worst offenders” of unfair trade practices. The announcement sent shock waves across the world and raised the specter of a global trade war. China accused America of “unilateral bullying” and promised to take “firm countermeasures” South Korea …
Trump's announcement of new tariffs on foreign allies and rivals triggered a stock market sell-off Thursday. The uncertainty over how Trump's tariffs will affect the U.S. economy is putting a GOP-led Congress in a bind. Some in the Senate are working to reclaim Congress’s constitutional authority to levy tariffs. Many Republicans have cheered the new tariffs.
In the crosshairs of stiff US tariffs, tiny coral islands in the South Pacific and Arctic outposts
Trump administration announced 10% tariffs on imports into the United States. The Holy See was not included in the list of countries and territories targeted by the U.S. President Donald Trump. Some of the target territories have little to no production, exports or role in the global economy. Tokelau is one of the smallest economies in the South Pacific.
Donald Trump lied a lot during his speech on trade tariffs. Trump's agenda is likely to have a dramatic impact on everything from the economy to consumer prices, jobs to international relations. Trump had plenty of time to finalize his policy, working out the granular details, considering the economic implications, and determining how best to present his vision to the …
China, E.U. prepare ‘countermeasures’ as Trump tariffs unite friends and foes
China promises to retaliate against President Donald Trump's "typical bullying" with unspecified countermeasures. The European Union is preparing its first round of retaliation to U.S. steel and steel tariffs and is preparing for further countermeasures if negotiations fail. The size of the tariffs stunned the United States' allies in particular.
The global economic system that the U.S. has shaped and steered for more than three-quarters of a century was animated by a guiding vision that trade and finance would be based on cooperation and consent rather than coercion. President Trump risks abandoning that vision of shared interests and replacing it with one that assumes sharp economic conflicts are unavoidable.