The Trump administration took the fight over tariffs to the Supreme Court on Wednesday, asking the justices to rule quickly that the president has the power to impose sweeping import taxes under federal law.
President Donald Trump is seeking a swift and definitive decision on tariffs from the Supreme Court that he helped shape, saying the country would be on “the brink of economic catastrophe” without the import taxes he has imposed on U.S. rivals and allies alike.
World shares were mixed on Monday as investors watched for further developments after a U.S. court ruled against President Donald Trump’s sweeping higher tariffs.
The era of cheap imports may be over now that President Trump has ended the Minimis Tax Exemption as of Friday, August 29.
$22 billion, that’s how much the United States collected in tariff payments from importers on Friday, August 22.
Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a serious blow to India’s overseas trade in its largest export market.
China’s top leaders have pledged to help companies slammed by higher U.S. tariffs but held back on major moves after trade talks with the U.S. this week kept businesses and planners in limbo.
President Donald Trump said Wednesday that he will impose a 25% tariff on goods from India, plus an additional import tax because of India’s purchasing of Russian oil.
The Tuesday meeting between Chinese and American trade negotiators in Sweden ended without a deal.
As President Donald Trump prepares to announce new tariff increases, the costs of his policies are starting to come into focus for a domestic manufacturing sector that depends on global supply chains, with a new analysis suggesting factory costs could increase by roughly 2% to 4.5%.
