Trump Tariffs

• European markets, including the Stoxx 600 and FTSE 100, are reacting to geopolitical tensions and potential trade disruptions. • The U.S. Trade Representative has proposed tariffs of up to 12.5% on 60 trading partners, including the EU, China, and Japan, over alleged failures to ban forced labor goods. • In corporate news, Zara parent company Inditex saw its stock rise over 5% following a fiscal first-quarter earnings update on Wednesday.

US claims world’s 10th-biggest economy engages in ‘unreasonable’ trade practices that ‘restrict US commerce’Sign up for the Breaking News US newsletter emailThe Trump administration proposed 25% tariffs on imports from Brazil, charging that the world’s 10th-biggest economy engages in trade practices that are “unreasonable’’ and that “burden or restrict US commerce”.Luiz Inácio Lula da Silva said he received the decision “with indignation”. The Brazil president also blamed the decision by the US administration on his rival in October’s elections, Flávio Bolsonaro, the senator who visited Washington last week. The senator is the son of former president Jair Bolsonaro, once nicknamed “the Trump of the Tropics” by his allies. Continue reading...

Wall Street has proved incredibly resilient to instability, and while consumer confidence has dipped, shares have soaredIt was a dark Friday for Wall Street on 27 March. Oil prices were climbing and the war with Iran raged on. Markets responded accordingly, with the Dow and Nasdaq entering correction territory, falling more than 10% below their peak, after a month of selloffs.Fast forward seven weeks later to 13 May, and the situation in Iran only looked marginally better. Oil prices were high, and the strait of Hormuz was still closed. Peace talks with Iran seemed tenuous, even with the pressures of high gas prices. Donald Trump on Wednesday said he is “not even a little bit” motivated by Americans’ financial situation to end the war. Continue reading...

• A U.S. trade court declared President Trump's proposed 10% tariffs on global imports unlawful, marking a significant legal setback for his trade agenda. • The ruling, issued within the past 2 hours, stems from challenges by importers arguing the tariffs exceed presidential authority under existing trade laws. • This decision matters as it disrupts Trump's strategy to pressure trading partners like China and the EU amid escalating tensions over the Strait of Hormuz.

• The US Trade Court ruled on May 7, 2026, that President Trump's latest 10% tariffs violate constitutional authority, representing a significant legal setback for the administration's trade policy. • The court's decision directly challenges Trump's tariff authority and could force the administration to modify or justify its trade measures through Congress. • The ruling comes as Trump has set a July 4 deadline for the EU to reach a trade deal, creating pressure on both domestic and international trade negotiations.

Trump sets Fourth of July deadline as he vents impatience at speed of EU’s implementationDonald Trump has said the EU must ratify its trade deal with the US by 4 July or face “much higher” tariffs, after European officials fell short of agreement on the pact.Trump said he spoke to the EU chief, Ursula von der Leyen, about the issue and, he posted on his Truth Social platform, “agreed to give her until our Country’s 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels”. Continue reading...

Trump also issues new deadline for EU to implement trade deal terms before raising tariffs to ‘much higher levels’The US trade court on Thursday ruled against Donald Trump’s latest 10% global tariffs, finding across-the-board tariffs were not justified under a 1970s trade law.The US Court of International Trade ruled in favor of small businesses that challenged the tariffs, which took effect on 24 February. The ruling was 2-1, with one judge saying it was premature to grant victory to the small business plaintiffs. Continue reading...

• President Trump announced a 25% tariff on European Union automobiles, citing the bloc's failure to comply with existing trade agreements. • The administration claims the EU breached trade terms, prompting the tariff increase as a enforcement mechanism. • The move escalates trade tensions between the US and EU, potentially affecting auto manufacturers and consumers across both regions.

Labour called SNP first minister John Swinney ‘shameless’ for claiming credit when it was the result of king’s US visitDonald Trump’s announcement that he will lift punishing US tariffs on scotch whisky has been overshadowed by a row between rival Scottish party leaders over claiming credit for the decision.The whisky industry and business leaders were delighted by the US president’s sudden announcement on his Truth Social network on Thursday that he would end the tariffs to mark the visit by King Charles and Queen Camilla. Continue reading...

President says decision made ‘in honor of the king and queen’ as industry officials call deal ‘significant boost’In a gesture of diplomatic friendliness after King Charles’s visit to the White House, Donald Trump said the US would be removing all tariffs on whisky imports.“In Honor of the King and Queen of the United Kingdom, who have just left the White House, soon headed back to their wonderful Country, I will be removing the Tariffs and Restrictions on Whiskey having to do with Scotland’s ability to work with the Commonwealth of Kentucky on Whiskey and Bourbon,” Trump said in a post on social media. Continue reading...

Claims system launches months after supreme court ruled Trump had no legal authority to impose tariffsSign up for the Breaking News US email to get newsletter alerts in your inboxThe Trump administration began on Monday accepting applications from businesses seeking refunds for more than $166bn in tariffs, months after the supreme court ruled that the president had no legal authority to impose them.The administration launched on Monday the digital claims system, named Cape, which they said in court filings could handle about 63% of affected import filings, with the remainder to follow. Continue reading...

• The Trump administration plans to implement tiered tariffs on steel and aluminum imports, with 50% duties on many derivative goods based on import value, 25% on others, and lower rates for some products. • This policy aims to protect US industry amid global trade tensions exacerbated by Middle East conflicts. • The measures could reshape international supply chains and provoke retaliatory actions from trading partners.

Last April, the president unleashed a tidal wave of tariffs on ‘liberation day’. Analysts say the policy has failed, even by the Trump administration’s own termsBefore Donald Trump declared “liberation day” on 2 April 2025 and shocked the world by raising import tariffs on nearly every country the US did business with, he had spent almost three months causing chaos in Washington.The wholesale slashing of government jobs under Doge (the “department of government efficiency”) and the defunding of US aid agencies had shown White House watchers that the US president was in a hurry to upset institutions he considered profligate or useless. Continue reading...

• President Donald Trump launched a series of social media posts on Sunday night criticizing the U.S. Supreme Court as having 'RANSACKED' the country after it rejected his tariffs decision. • Trump acknowledged potential backlash, stating 'This statement about the United States Supreme Court will cause me nothing but problems in the future, but I feel it is my obligation to speak the TRUTH,' amid broader losses including failed prosecutions and coalition splits over Iran war. • The outbursts highlight Trump's frustration with judicial setbacks, such as U.S. District Judge James Boasberg tossing a grand jury subpoena against Fed Chair Jerome Powell on Friday.

President accuses court of having ‘unnecessarily RANSACKED’ the US and claims he has ‘absolute right’ to impose new tariffsSign up for the Breaking News US email to get newsletter alerts in your inboxGood morning and welcome to the US politics liveblog.In a late-night social media post, Donald Trump has claimed he has the “absolute right” to impose new tariffs after the supreme court ruled many of the import duties he imposed last year were illegal.Our Supreme Court has made these Countries very happy but, as the Court pointed out, I have the absolute right to charge TARIFFS in another form, and have already started to do so.” Continue reading...

US supreme court has ‘ransacked’ the country, president argues, in wake of its ruling against his trade agendaDonald Trump has claimed he has “the absolute right” to impose new tariffs after the US supreme court ruled many of the import duties he imposed last year were illegal.The president attacked the court in a late night broadside on Sunday, accusing it of having “unnecessarily RANSACKED” the US – and failing to show him sufficient loyalty. Continue reading...

Democratic leaders project that President Trump's proposed tariffs on imports will increase costs for the typical American family by more than $2,500 per year, exacerbating affordability challenges amid midterm election debates. The estimate factors in higher prices for consumer goods, with critics linking it to broader economic policies including energy waivers. GOP supporters counter that tariffs protect domestic industries and jobs, though polls show voter concerns over inflation. This fiscal warning intensifies partisan divides as Congress considers related legislation.

A Friday report from congressional Democrats highlights that President Trump's tariffs, enacted after Supreme Court invalidation of prior measures, could impose over $2,500 in annual costs on average U.S. households amid efforts to replace lost federal revenue. The analysis critiques the policy as regressive, exacerbating affordability pressures from recent economic strains like energy prices. Trump administration officials defend the tariffs as essential for domestic industry protection and national security. The report fuels midterm election debates on fiscal policy as Democrats push alternative revenue strategies.

A Friday report from congressional Democrats reveals President Trump's expanded tariffs, following Supreme Court invalidation of prior measures, could impose over $2,500 in annual costs on average U.S. households amid efforts to replace lost federal revenue. The analysis highlights economic burdens as Trump pushes replacements for struck-down tariffs, exacerbating affordability concerns. This development matters as it fuels partisan clashes ahead of midterms, with Democrats using the figures to critique GOP economic policies. Upcoming congressional hearings may scrutinize the report's projections and potential legislative offsets.