Tariffs
European Union negotiators have been arguing for a zero percent tariff on wine and spirits exports to the United States as part of the ongoing trade agreement negotiations. However, despite weeks of negotiations, the American side has refused to budge on the issue, leaving European spirits producers facing a 15
Tariffs
This year has seen a significant surge in new tariff developments, posing challenges for the US auto industry. The Automotive Aftermarket Industry Association (AASA) has identified multiple tariffs imposed or planned, including reciprocal tariffs on nearly all imports, 25% tariffs on autos and auto parts, and 50% tariffs on aluminum,
Tariffs
A flurry of new tariff developments has affected the U.S. auto industry in the past year, including reciprocal tariffs on nearly all imports, 25% tariffs on autos and auto parts, and 50% tariffs on aluminum, steel, and semifinished copper products and derivatives. The Motor and Equipment Manufacturers Association (MEMA)
Tariffs
The latest data released by the U.S. Customs and Border Protection (CBP) shows a 22% decrease in Canadian border crossings in July 2025 compared to July 2024, with nearly 500,000 fewer travelers crossing the Upstate NY-Canada border. This trend follows a months-long decline since Trump took office, with
Bessent, Scott
US Treasury Secretary Scott Bessent expressed his satisfaction with the current tariff arrangement between the US and China, stating that the status quo is "working pretty well" despite ongoing trade tensions. In a separate interview, Bessent criticized India's role in reselling Russian oil, claiming that Indian
Tariffs
Russia on Wednesday reiterated its stance on cooperation with India, assuring uninterrupted crude supplies despite US-imposed tariffs. Deputy Chief of Mission Roman Babushkin stated that the US has "weaponised the economy," while guaranteeing that Russia will never impose sanctions on India. The Russian official also underscored the country&
Tariffs
The Russian government has hinted at offering a 5% discount on crude oil purchases to India, a move that comes amidst the US imposing 50% tariffs and penalties on Indian exporters. Speaking to reporters, Evgeniy Griva, the Deputy Trade Representative of Russia to India, disclosed that the discount was typically
Tariffs
Vina Nadjibulla, Vice-President of Research and Strategy at the Asia Pacific Foundation of Canada, argues that China's anti-dumping tariff on Canadian canola seed imports is an unmistakable act of economic coercion, aimed at inflicting maximum pressure on Canada just before the canola harvest. This move is part of
Tariffs
India's economy is staring at a potential collapse as the US threatens to impose a 50% tariff on its exports, more than doubling the current rate of 25%. This move could lead to a massive loss of livelihoods, with an estimated 2.5 million people in the carpet
Tariffs
As the economic landscape becomes increasingly unstable, a growing number of Americans are seeking emergency personal loans to bridge the financial gaps created by layoffs, inflation, and reduced work hours. According to recent data, online searches for poor credit loan options surged more than 40% during the first half of
Tariffs
As President Donald Trump's deadline for penalizing India for purchasing Russian oil nears, US treasury secretary Scott Bessent defended the administration's stance, arguing that India has been profiteering from the sale of the oil. Bessent cited the country's significant profits from reselling the oil,
Tariffs
A 50 per cent levy on semi-finished copper imports, announced by the US government, aims to develop a domestic industry and reduce America's dependence on China for critical minerals. However, mining executives and analysts question whether copper tariffs are enough to incentivize new smelters in the US, citing
