Stories tagged “Trump Tariffs.”
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U.S. and Canada fail to reach trade pact to avert Trump tariffs
Hefty U.S. tariffs on some Canadian products took effect on Saturday after days of negotiations that went down to the wire failed to produce an agreement.
The US and Canada are racing to finalise a trade deal before President Donald Trump's threatened 50% tariff on about $20 billion of Canadian goods takes effect Saturday. Negotiators say talks are very close, but key issues remain.
US president Donald Trump has delayed 50% tariffs on Canada for three days, and hinted at reviving the contentious Keystone XL oil pipeline project. The tariffs would have affected $20bn worth of Canadian exports, including wine and hockey sticks.
Nintendo reported a 53.5% jump in profits to ¥147.4bn, driven by a refund on US tariffs. Sales of its Switch 2 console maintained strong momentum, but overall sales dropped 10%.
The US government has paid back $100bn in 'Liberation Day' tariff refunds to businesses through US customs officials. This represents roughly 60% of all tariff revenue collected by the government under the policy.
Twenty five US states sued the administration of US President Donald Trump over new tariffs of 10% to 12.5% on goods from 60 trading partners. The tariffs came into effect in July, targeting countries including the UK, China as well as the European Union.