Tag: USA

President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.

President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

Canada will announce C$29.8 bln in retaliatory tariffs on the United States on Wednesday in response to U.S. President Donald Trump’s steel and aluminum tariffs, a Canadian official said.

Σε άμεσα αντίποινα προχώρησε η Ευρωπαϊκή Ενωση ελάχιστες ώρες μετά την επιβολή δασμών 25% από τον Ντόναλντ Τραμπ στις εισαγωγές ευρωπαϊκού χάλυβα και αλουμινίου, με τις δύο πλευρές πλέον να είναι αντιμέτωπες με εμπορικό «πόλεμο».

New 25% tariffs on steel and aluminium imports into the United States are set to take effect on Wednesday.

U.S. President Donald Trump has signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, disappointing some in the market who had hoped for a firm plan to buy new tokens.

Applications for US unemployment benefits fell last week, returning to muted levels seen at the start of the year.

US President Donald Trump is exempting the automakers from 25% tariffs for one month after negotiating with major industrial leaders. Auto stocks rose following the news.

U.S. businesses created just 77,000 new jobs in February, ADP said, a sign the economy could be slowing as businesses weighed how to respond to President Trump ‘s tariffs.

Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs.

Shares in European carmakers and automotive suppliers fell sharply on Tuesday, after U.S. tariffs of 25% on imports from Mexico, a major centre for the sector to supply the American continent, took effect.

China retaliated swiftly on Tuesday against fresh U.S. tariffs with hikes to import levies covering $21 billion worth of American agricultural and food products, moving the world’s top two economies a step closer towards an all-out trade war.

China has American agricultural exports in its cross hairs as it prepares countermeasures against fresh U.S. import tariffs, China’s state-backed Global Times reported, raising the stakes in an escalating trade war between the world’s top two economies.

Cryptocurrencies rallied on Sunday after President Donald Trump announced the creation of a strategic crypto reserve for the United States that will include bitcoin and ether, as well as XRP,Solana’s SOL token and Cardano’s ADA.
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Treasury Secretary Scott Bessent said Sunday that President Donald Trump’s proposed tariffs are unlikely to raise inflation, in part because China will “eat any tariffs that go on.”

Inflation eased slightly in January as worries accelerated over President Donald Trump’s tariff plans, according to a Commerce Department report Friday.

President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date.

U.S. President Donald Trump on Wednesday raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada, saying they could take effect on April 2, and floated a 25% “reciprocal” tariff on European cars and other goods.

The number of Americans filing new applications for unemployment benefits increased moderately last week, suggesting that the labor market remained on solid ground.
Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 219,000 for the week ended February 15, the Labor Department said on Thursday. Economists polled by Reuters had forecast 215,000 claims for the latest week.