tariffs

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Trump's 50% Tariff Hike on India Goes Into Effect

New tariffs of up to 50% threaten Indian exports, put millions of jobs at risk

(Newser) - President Trump's decision to double tariffs on Indian imports to rates as high as 50% took effect on Wednesday, putting a major strain on US-India relations at a time when the two nations have been deepening strategic ties. The move, in part a response to India's continued...

Canada's Move Resets Trade Talks With US

PM Carney drops retaliatory tariffs to match US

(Newser) - Canada is dropping retaliatory tariffs to match US tariff exemptions for goods covered under the United States-Mexico-Canada trade pact, Prime Minister Mark Carney announced Friday. Carney said Canada will include the carve-out that the US has on Canadian goods under the 2020 free trade deal that shields the vast majority...

Inflation Is Coming for Your Vegetables

Wholesale vegetable prices rose nearly 40% from June to July

(Newser) - Wholesale food prices rose 1.4% from June to July, with one big subsector leading the way: fresh and dry vegetables, which surged 38.9% in that same time period, per the AP . That's the largest month-on-month spike for veggies since March 2022, as well as the biggest increase...

US Announces Another Delay on China Tariffs

Trade truce has been extended for 90 days

(Newser) - President Trump extended a trade truce with China for another 90 days Monday, at least delaying once again a dangerous showdown between the world's two biggest economies, the AP reports. Trump posted on his Truth Social platform that he signed the executive order for the extension, and that "...

US Strikes an Unprecedented Deal Over Chip Sales to China

Government allows Nvidia, AMD to sell them—in exchange for a 15% cut

(Newser) - The Trump administration has struck a highly unconventional deal with two tech giants: It will allow them to sell chips to China in exchange for a 15% cut, reports the New York Times .
  • The companies are Nvidia, which will ship an artificial intelligence chip called H20, and Advanced Micro
...

'It's Midnight!' Trump Celebrates His New Tariffs

This time, Dow futures rise as new penalties kick in

(Newser) - President Trump's new tariffs took effect Thursday morning on dozens of countries, and this time the stock market seems unfazed, reports the Wall Street Journal . Dow futures were up about 250 points, or 0.6%, and the benchmark S&P 500 was up by a slightly higher percentage. Global...

Trump Plans 100% Tariff on Imported Computer Chips

Companies investing in US manufacturing would avoid hefty import fees

(Newser) - President Trump on Wednesday announced plans to slap 100% tariffs on imported computer chips—unless tech companies commit to manufacturing in the US—a move that could reshape the global tech industry and send ripple effects through everything from smartphones to automobiles, the Washington Post reports. The policy would...

Trump Expects to Meet Soon With Putin and Zelensky

Other leaders appear not to have officially agreed

(Newser) - President Trump is preparing to meet soon with Russian President Vladimir Putin about the war on Ukraine, administration officials said, picking up on a suggestion made by the Kremlin during the US special envoy's visit there on Wednesday. Trump is open to including Ukrainian President Volodymyr Zelensky in...

Trump Calls Envoy's Meeting With Putin 'Highly Productive'

Witkoff met with Russian president for about 3 hours ahead of Friday deadline

(Newser) - President Trump's special envoy Steve Witkoff on Wednesday made his fifth trip to Russia's capital, where he met with Vladimir Putin ahead of Trump's shortened ceasefire deadline. The White House has said Russia must reach a peace deal with Ukraine by Friday or potentially face severe...

Apple Making Another Hefty Investment in US Manufacturing

Latest round of $100B brings total this year to $600B

(Newser) - President Trump is set to unveil a fresh $100 billion commitment from Apple to bolster US manufacturing, a move expected to bring more of the tech giant's supply chain stateside. The announcement, which is scheduled to be made at a White House event Wednesday attended by Apple CEO...

A 'Not Happy' Trump Imposes Another 25% Tariff on India

Over its Russian oil purchases

(Newser) - President Trump on Wednesday brought more hurt to India in announcing that the US would impose an additional 25% tariff on the country, bringing the new tariff to 50%, over its use of Russian oil. India had on Friday indicated it will continue to buy oil from Russia despite threats...

Ozempic Maker Takes Sales Hit as Rivals, Tariffs Loom

Eli Lilly rivalry hits Europe's top drugmaker hard

(Newser) - Novo Nordisk, the Danish pharma heavyweight behind Ozempic, is feeling the squeeze as its once-booming diabetes drug sales slow. The company's GLP-1 injectables, key players in the diabetes and weight loss boom, saw their sales growth plummet to 8% in the first half of this year—down from...

Swiss Leader Rushes to US for Last-Minute Talks

Trump's 39% tariff could shake country's export-heavy economy

(Newser) - Swiss President Karin Keller-Sutter is making a dash to Washington, hoping to avert a 39% tariff on Swiss goods that's rattled her country's export-heavy economy. The surprise levy, one of the highest globally, was announced by President Trump and threw a wrench into negotiations where Swiss officials...

After 'Disastrous' Phone Call, Trump Hit Swiss With Big Tariff

Critics call leader's call with president the country's biggest defeat since 1515

(Newser) - Switzerland is reeling after President Trump slapped a surprise 39% tariff on its exports, rattling markets and sparking political fallout. The move hit Swiss luxury goods, machinery, and pharmaceuticals—sectors that depend heavily on access to the US market, the Guardian reports. The tariffs, announced early Friday local time,...

India to Keep Buying Oil From Russia After Trump's Threats

Foreign Ministry declines to consider a third nation's views

(Newser) - India has indicated it will continue to buy oil from Russia despite threats by President Trump. The country's relationship with Russia is "steady and time-tested," a foreign ministry spokesman said Friday, and should not be seen through the prism of a third country. Randhir Jaiswal said India'...

Ford Teases a 'Model T Moment' for New EV Vehicle

CEO Farley says a big reveal is coming later this month

(Newser) - It's about as big a boast as Ford can make: "This is a Model T moment for us," CEO Jim Farley told reporters on an earnings call this week, referring to an upcoming announcement on electric vehicles, reports Inside EVs . Farley said the automaker will unveil...

Mark Carney Says Canada Is Disappointed

Doug Ford urges government to hit back against Trump's 35% tariff

(Newser) - Canada is "disappointed" by President Trump's decision to slap a 35% tariff on imports from the country, one of America's largest trading partners, Prime Minister Mark Carney said in a statement early Friday. Trump cited Canada's "lack of cooperation in stemming the flood of fentanyl...

Markets Poised to Sink Over New Tariffs

Dow futures are down 400 points

(Newser) - With the deadline for President Trump's new tariffs here , investors are busy digesting the details—and they don't seem too happy. The Dow is on track to open down 400 points, or about 1%, while the benchmark S&P 500 and the tech-focused Nasdaq are down similar percentages,...

In One Way, Tariffs Gave Apple an Unexpected Boost

iPhone sales surged as people rushed to buy them ahead of feared price hikes

(Newser) - Apple's iPhone sales surged past expectations last quarter, and the Wall Street Journal sees an unexpected reason for the bump: US shoppers rushed to buy new phones because they feared tariffs would drive up prices. Sales of iPhones rose more than 13% and revenue overall grew 10%, which...

Trump Signs New Tariff Plan While Extending Deadline

Rates change, but Canada sticks with 35%

(Newser) - Hours before the midnight deadline he imposed on himself, President Trump signed a new executive order Thursday evening imposing tariffs on dozens of US trading partners. The plan confirms some previously announced provisions while changing other parts, including the deadline: The tariffs apparently take effect at 12:01am Aug. 7,...

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