Donald Trump, Japan and trade
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A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.
April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.
Top American steel producers are charging more for their products due to tariffs, which economists say is a natural effect that squeezes buyers and that Canada should avoid.
Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.
Trading updates and corporate earnings from some of Europe’s auto giants show the extent to which Trump’s tariffs have started to take their toll.
Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry.
President Trump has placed a 50% tariff on copper imports beginning on August 1, in line with tariffs on steel and aluminum that he raised in June from 25%. The United States imports about 50% of its refined copper, mostly from Chile, but also Canada, Mexico, and Peru.
The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump's constantly evolving trade agenda.
President Donald Trump tours U.S. Steel Corporation's Mon Valley Works-Irvin plant in West Mifflin, Pennsylvania, on May 30. Trump raised tariffs on imported steel and aluminum to 50%, a move ...
US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising.