Tag Archives: Customs (Tariff)

Prime Minister Mark Carney said that Canada had introduced a 25 percent tariff on cars and trucks made in the United States in retaliation for the tariffs that went into effect Thursday morning on Canadian vehicles. Hours before the tariffs imposed by President Trump took effect, the automaker Stellantis told the union representing about 3,600 workers at its minivan and …

Volkswagen, the German automaker, has told its car dealers that it plans to add an import fee later this month to the price of imported cars sold in the United States. The company’s move is one of the first and clearest examples of automakers using price increases to deal with the 25 percent tariffs President Trump imposed on car and …

On Thursday morning, Tim Cook, Apple’s chief executive, woke up to the worst day for his company’s stock in five years. Apple shares fell more than 9 percent in response to President Trump’s plan to put steep tariffs on products made abroad. The declines at the world’s most valuable company led a sharp sell-off in tech stocks as the Nasdaq …

For three years, the U.S. economy has been buffeted by rapid inflation, high interest rates and political instability at home and abroad. Yet it has proved surprisingly resilient, supported by the sturdy pillars of robust consumer spending, a rising stock market, and healthy balance sheets for households and businesses alike. But one by one, those pillars have begun to crack …

Ford Motor said on Thursday that it was lowering prices on most of its vehicles to the same levels it charges employees in a bid to boost sales as President Trump’s tariffs on imported cars took effect. The tariffs began on Thursday on vehicles imported from Mexico, Canada, Japan, Germany and other countries. The duties — 25 percent of the …

Through Covid, political chaos, and economic disarray, Sri Lanka and Bangladesh kept one industry central to their hopes of prosperity afloat: the manufacturing of ready-made garments, with the United States as their main market. Then came President Trump’s tariffs. The two countries are reeling after Sri Lanka was hit with 44 percent tariffs and Bangladesh subjected to 37 percent levies. …

When President Trump unveiled major new tariffs on Wednesday, one big economy that he did not target was Russia. Treasury Secretary Scott Bessent told Fox News on Wednesday that Moscow was spared because sanctions imposed on the country after its full-scale invasion of Ukraine in 2022 mean that U.S.-Russian trade had effectively stopped. North Korea, Cuba and Belarus, which are …

Germany had hoped that a new government would revive its stagnant economy, but President Trump’s sweeping new tariffs are stoking worries that Europe’s biggest economy will fall short of its 0.3 percent growth expectations this year. Jörg Kukies, Germany’s finance minister, met with the U.S. Treasury secretary, Scott Bessent, and U.S. trade representatives in Washington last week, and said on …

After all that — the chummy Oval Office meeting, the extraordinary royal invitation, the paeans to the “special relationship” — Britain and its solicitous prime minister, Keir Starmer, still got swept into President Trump’s tariffs, along with the European Union and other major American trading partners. Mr. Trump imposed his basic tariff of 10 percent on Britain, while hitting the …

President Trump’s imposition of tariffs on a scale unseen in nearly a century is more than a shot across the bow at U.S. trading partners. If kept in place, the import taxes will also launch an economic project of defiant nostalgia: an attempt to reclaim America’s place as a dominant manufacturing power. In the postwar heyday of American manufacturing, which …