Tariffs

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...

• The European Union announced new provisional tariffs on Chinese electric vehicle batteries and solar components Monday, citing unfair state subsidies and predatory pricing that undercut European manufacturers. • Beijing warned the tariffs violate World Trade Organization rules and threatened retaliatory measures on European agricultural imports, escalating trade friction between the two economic blocs. • U.S. officials expressed support for the EU's move, viewing it as necessary protection for clean energy industries while signaling potential alignment on China trade policy.

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...