US: Trump imposes 50% tariffs on steel and aluminium imports
The Trump Administration has increased tariffs on US imports of steel, aluminium, and derivatives from 25% to 50%, effective June 4, 2024. Tariffs on UK imports remain at 25%. The Trump Administration has doubled the tariffs on US imports of
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US: Trump administration weighs 15% tariffs for 150 days
The Trump administration is reportedly considering using an existing law to impose 15% tariffs for 150 days on parts of the global economy. A final decision is yet to be announced. According to a Wall Street Journal report, President Donald
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US: Trump to double steel and aluminium tariffs to 50%
President Trump announced plans to double tariffs on imported steel and aluminum to 50% on 30 May 2025. US President Donald Trump announced on 30 May 2025 that his administration plans to raise tariffs on imported steel and aluminium from 25%
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US: Court of International Trade rules Trump tariffs unconstitutional, Court of Appeals issues administrative stay while it reviews appeal
Court of International Trade cited Congress's exclusive authority over taxes and commerce on 28 May 2025. On 29 May 2025, the US Court of Appeals for the Federal Circuit issued an administrative stay while it reviews an appeal from the Trump
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US: Trump postpones 50% tariff on EU goods
President Trump announced on 26 May 2025 that the effective date for his new 50% tariffs, in addition to the previously announced 20% tariffs on EU goods, has been pushed to 9 July 2025 after a call with European Commission President Ursula von der
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US tariffs are reshaping transfer pricing strategies for multinationals
The Trump Administration’s latest tariffs are reshaping global trade policies and pushing multinational corporations (MNCs) to revise their transfer pricing policies. US President Donald Trump’s latest tariffs, including a 104% levy on
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US: Trump revives trade tensions with new tariff threats on EU, Apple
Trump announced that he plans to impose a 50% tariff on EU goods, on top of the existing 20%, starting 1 June 2025. He also plans a 25% tax on imported iPhones that US consumers purchase. US President Donald Trump threatened, on Friday 23 May
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EU to introduce flat tax on low-value imports from China
According to a Financial Times report on 20 May 2025, the EU is considering imposing a flat fee on small packages entering the bloc, mainly from China. The Financial Times reported that the European Commission shared a draft proposal for a
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China imposes anti-dumping tariffs on plastics from US, EU, Japan, and Taiwan
China’s Ministry of Commerce has imposed anti-dumping duties on POM copolymer imports from the US, EU, Japan, and Taiwan on 18 May 2025. Rates will range from 3.8% to 74.9%. US imports will face the highest rate at 74.9%, while EU shipments are
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US lowers “de minimis” tariff on small Chinese parcels, China lowers tariffs on US imports for 90 days
The White House released a joint statement, on 12 May 2025, announcing that the US will lower the "de minimis" tariff on low-value shipments from China to 30%, easing tensions in the trade war between the two largest economies. The order relieves
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Jamaica: Cabinet approves 20% expanded duty concession for agricultural vehicles
Jamaica’s Cabinet has approved the expansion of the 20% duty concession for agricultural vehicles on 9 April 2025. Minister of Agriculture, Fisheries and Mining, Floyd Green, announced this during the post-cabinet press briefing at Jamaica
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US: Treasury reports USD 258 billion budget surplus in April 2025
The US Department of the Treasury reported a USD 258 billion budget surplus in April on 12 May 2025. The surplus is up 23% (USD 49 billion) compared to the same period last year. The Treasury said the increased surplus was driven by strong tax
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EU consults countermeasures, WTO action over US tariffs
The European Commission has announced a public consultation on possible countermeasures and WTO litigation in response to US tariffs on 8 May 2025, if ongoing EU-US negotiations do not result in a mutually beneficial outcome and the removal of the
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US, China agree to lower tariffs, 90-day tariff pause
The US and China have agreed to temporarily cut tariffs in order to work to end a trade war that has fueled recession fears and unsettled financial markets. Following discussions with Chinese officials in Geneva, US Treasury Secretary Scott
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US, UK announces trade deal, expands agricultural access
US President Donald Trump announced a "full and comprehensive" trade agreement between the US and the UK on Thursday, 8 May 2025. “The agreement with the UK is a full and comprehensive one that will cement the relationship between the US and
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US: Trump to lower US tariffs on China from 145% if trade talks go well
US President Donald Trump said on Thursday, 8 May 2025, that he expects the US 145% tariffs on China to be reduced if trade negotiations between the two nations this weekend goes well. The Trump administration stated that the US has been working
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EU considers EUR 95 billion in tariffs on US if negotiations fail, targets industrial goods
The European Union is considering imposing EUR 95 billion (USD 108 billion) in tariffs on US exports if no progress is made during trade talks with the Trump administration. The proposed retaliatory measures mainly target industrial goods like
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China to impose anti-dumping duties on Indian cypermethrin
China's commerce ministry announced it will impose anti-dumping duties of 48.4% to 166.2% on Indian cypermethrin for five years, effective immediately. Cypermethrin is an insecticide used in agriculture and sanitation. The decision follows a
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