After flubbing his planned doubling of tariffs on Canada, which saw Canada poised to lash back with stiff increases in the cost of energy exported from the province of Ontario to the US, US President Donald Trump is shifting his tariff focus to the European Union, but maintaining the same playbook.
Donald Trump's brief standoff against Canada saw the US's neighbor to the north make zero concessions. Canada is now on pace to impose a strategic package of tariffs against key US goods in retaliation for the US's steel and import tariffs that went into effect this week, and trade terms under the USMCA trade agreement remain unchanged. Now, President Trump is looking to strong-arm the European Union, which imposed its own retaliatory tariffs on US whisky products in response to the US administration's steel tariffs.
Donald Trump threatened via social media post early Thursday that he would seek to impose his 200% tariff on European wines and champagne. Donald Trump then resumed posting on his Truth Social account, again declaring that eggs, Crude Oil, and interest rates were all "down", while also trying to rebrand the US's "Free Trade" as "Stupid Trade" (sic).
President Trump also returned to his idea of taking Greenland, an autonomous territory, from Denmark, either intentionally or accidentally referring to it as an "annexation".
Source: Fxstreet
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that gro...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs,...
US President Donald Trump plans to impose tariffs of over 10% on smaller countries, including nations in Africa and the Caribbean, as the Associated Press reported. "We'll probably set one tariff for...
President Donald Trump warned on Monday that he would impose secondary tariffs of 100% on Russia if a peace deal with Ukraine isn't reached within 50 days. "We are going to be doing very severe tariff...
The European Union announced on Sunday that it will extend its suspension of countermeasures to U.S. tariffs until early August, aiming to pursue a negotiated settlement. This comes after President T...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate earnings. The Dow Jones, on the other hand was...
Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle...
The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
The Producer Price Index (PPI) for final demand in the US rose 2.3% annually in June, according to data published by the US Bureau of Labor...