Thursday, April 3

Tag: Trade War

Canada and EU swiftly retaliate against Trump’s steel and aluminium tariffs

Major trade partners have swiftly hit back at US President Donald Trump's increased tariffs on aluminium and steel imports, imposing stiff new taxes on US goods including products from textiles and water heaters to beef and bourbon. Canada, the largest steel supplier to the US said on Wednesday (early Thursday AEDT) it would place 25 per cent reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products. Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and jeans Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and je...

Trump backflips on tariffs yet again, threatens immense new tax on Canadian dairy, lumber

A day after offering Canada a one-month reprieve on punishing, virtually across-the-board 25 per cent tariffs, President Donald Trump has threatened new tariffs as soon as Friday on Canadian lumber and dairy products. It's yet another twist in a serpentine trade policy that seems to shift on an hourly basis. "Canada has been ripping us off for years on lumber and on dairy products," Trump said in an Oval Office address, citing Canada's roughly 250 per cent tariff on US dairy exports to the country. Trump said America would match those tariffs dollar-for-dollar. "We may do it as early as today, or we'll wait until Monday or Tuesday," Trump said. "We're going to charge the same thing. It's not fair. It never has been fair, and they've treated our farmers badly." Donald T...

Is Trump right to point the finger at China over the fentanyl crisis?

Donald Trump has threatened to impose sweeping tariffs on China and other countries for failing to stem shipments of drugs to the US. This week, the US president-elect announced he would be slapping 25 per cent tariffs on imports from China, Mexico and Canada when he assumes power. But Trump went a step further with China, singling out the emerging superpower for its role in the US opioid crisis, which is killing thousands of Americans every year. Donald Trump led Republicans to a clean sweep of the House, Senate and the White House. (AP) In a post on his Truth Social site, he said he wants to impose an "an additional 10 per cent tariff" on imports from China until the flow of illicit drugs, particularly fentanyl, dries up. Trump said he has "had many tal...
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