-
Trump sets 19% tariff on Indonesia goods in latest deal
WASHINGTON (Reuters) — President Donald Trump on Tuesday said the US would impose a 19 percent tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as better terms with trading partners and ways to shrink a huge US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by the Trump administration ahead of an Aug. 1 deadline for tariffs on m
July 16, 2025 -
China's economy grows 5.2% on trade war truce
BEIJING (AFP) — China's economy expanded more than five percent in the second quarter, official data showed Tuesday, buoyed by strong exports but analysts warned that more was work was needed to address sluggish consumer demand. The figures offer a rare bit of good news for the country's leadership as it fights a multi-front battle to kickstart growth -- a challenge made all the more difficult by Donald Trump's tariff war. But the knock-on effects of the trade turmoil abroad and persistent slugg
July 15, 2025 -
US adds 17% tariff on Mexican tomatoes
WASHINGTON (Reuters) — The Trump administration announced Monday a duty of about 17 percent on fresh tomatoes from Mexico, which account for two-thirds of the tomatoes eaten in the US, and the end of an export deal between the two countries. The Commerce Department said the US was withdrawing from a 2019 agreement with Mexico that suspended an antidumping duty investigation on Mexican tomatoes, whose exports to the US are valued at $3 billion a year. The move came as President Donald Trump's adm
July 15, 2025 -
Ice cream makers to eliminate artificial dyes by 2028
WASHINGTON (Reuters) — Dozens of US ice cream producers are planning to remove artificial colors from their products by 2028, a dairy industry group and government officials said Monday. The producers, which together represent more than 90 percent of ice cream sold in the US, are the latest food companies to take voluntary steps to remove dyes since Health Secretary Robert F. Kennedy Jr. in April said the US aimed to phase out many synthetic dyes from the country's food supply. Several major foo
July 15, 2025 -
Trump demands concessions as EU holds off on US tariff negotiations
BRUSSELS (Reuters) — The European Union said Sunday it would extend its suspension of countermeasures to US tariffs until early August and continue to press for a negotiated settlement as US President Donald Trump's administration demanded more concessions from trading partners. Trump said Saturday he would impose a 30 percent tariff on most imports from the EU and Mexico from Aug. 1, adding to similar warnings for other countries and leaving them less than three weeks to hammer out framework de
July 14, 2025 -
Potential S. Korea-US shipbuilding cooperation tied to Washington's China containment policy: official
The United States has made South Korea's participation in its containment policy against China a prerequisite for bilateral cooperation in the shipbuilding sector, one of the key items in the two countries' ongoing trade negotiations, a Seoul official said Friday. "The shipbuilding industry is one of the most notable areas where the US seeks cooperation with South Korea in terms of checking China," Chang Sung-gil, director general for trade policy at the Ministry of Trade, Industry and Energy, s
July 11, 2025 -
Trump tariffs goods from Brazil at 50%, citing 'witch hunt' trial against country's former president
WASHINGTON (AP) — US President Donald Trump singled out Brazil for import taxes of 50 percent on Wednesday for its treatment of its former president, Jair Bolsonaro, showing that personal grudges rather than simple economics are a driving force in the US leader's use of tariffs. Trump avoided his standard form letter with Brazil, specifically tying his tariffs to the trial of Bolsonaro, who is charged with trying to overturn his 2022 election loss. Trump has described Bolsonaro as a friend and h
July 10, 2025 -
Nvidia becomes first company to reach $4tr in value
NEW YORK (AFP) -- Nvidia became the first company to touch $4 trillion in market value on Wednesday, a new milestone in Wall Street's bet that artificial intelligence will transform the economy. Shortly after the stock market opened, Nvidia vaulted as high as $164.42, giving it a valuation above $4 trillion. The stock subsequently edged lower, ending just under the record threshold. "The market has an incredible certainty that AI is the future," said Steve Sosnick of Interactive Brokers. "Nvidia
July 10, 2025 -
Trump: US to impose 50% tariff on copper imports
WASHINGTON (Reuters) -- President Donald Trump said he will announce a 50 percent tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. US Comex copper futures jumped more than 12 percent to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper. Trump told reporters at a White House cabinet meeting that he planned
July 9, 2025 -
Lula says BRICS do not want 'emperor'
RIO DE JANEIRO (Reuters) -- Developing nations at the BRICS summit on Monday brushed away an accusation from President Donald Trump that they are "anti-American," with Brazil's president saying the world does not need an emperor after the US leader threatened extra tariffs on the bloc. Trump's threat on Sunday night came as the US government prepared to finalize dozens of trade deals with a range of countries before his July 9 deadline for the imposition of significant "retaliatory tariffs." The
July 8, 2025 -
BRICS condemns increase of Trump tariffs
RIO DE JANEIRO (AP) — The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming US President Donald Trump. The group’s declaration, which also took aim at Israel’s military actions in the Middle East, also spared its member Russia from criticism and mentioned war-torn Ukraine just once. The two-day summit was marked by the absences of two of its most powerful members. China’s President Xi Jinping did not attend a BRICS summit
July 7, 2025 -
Nissan considers Foxconn EV output to save Oppama from closure, Nikkei says
Nissan Motor is in discussions with Taiwan's Foxconn over an electric vehicle collaboration that could save its Oppama plant in Japan from closure, the Nikkei business daily reported on Sunday, citing an unidentified Nissan source. Nissan's Oppama plant, which employs about 3,900 workers, has been a potential consolidation target in the struggling Japanese carmaker's restructuring plans, but the idea of producing Foxconn-brand EVs at its idle assembly lines could preserve jobs and supplier netwo
July 6, 2025 -
Israelis hope for potential economic 'peace dividend' after war
JERUSALEM (Reuters) — Israel's 12-day war with Iran last month has dented its economy, but investors and Israelis are hopeful that a US-brokered halt to hostilities could bring an economic "peace dividend" with the country's neighbors that has been a dream for decades. Such hopes are fuelled by setbacks to Iran's nuclear program and the weakening of Iranian allies in Lebanon, Syria and Gaza — despite the still-raging war in the Palestinian enclave. The optimism could be boosted further after US
July 3, 2025 -
Trump says he will put 20% tariff on Vietnam's exports
WASHINGTON/HANOI (Reuters) -- The United States will place a lower-than-promised 20 percent tariff on many Vietnamese exports, Donald Trump said Wednesday, cooling tensions with its tenth-biggest trading partner days before the US president could raise levies on most imports. Vietnamese goods would face a 20 percent tariff and trans-shipments from third countries through Vietnam will face a 40 percent levy, he said. Vietnam could import US products with a zero percent tariff, he added. "It is my
July 3, 2025 -
US says could reach trade deal with India, casts doubt on Japan
WASHINGTON (Reuters) — The United States could reach a trade deal with India that would help American companies compete in the South Asian country and leave it facing far lower tariffs, US President Donald Trump said Tuesday, while casting doubt on a possible deal with Japan. Trump told reporters aboard Air Force One that he believed India was ready to lower barriers for US companies, which could pave the way for an agreement staving off the 26 percent rate he announced on April 2, before pausin
July 2, 2025