Reuters | March 05, 2025 | International Trade | Maritime | Breakbulk News
India's high auto tariffs will feature in formal talks for a bilateral trade deal that are yet to begin, said one of the three sources, all of whom were briefed on the matter, paving the way for American electric vehicle maker Tesla, which is gearing up for an India launch.
Reuters | March 05, 2025 | International Trade
A U.S. congressional committee on Wednesday urged Americans to remove Chinese-made wireless routers from their homes, including those made by TP-Link, calling them a security threat that opened the door for China to hack U.S. critical infrastructure.
President Donald Trump is considering protecting sectors like automakers from U.S. tariffs and his administration will make an announcement later on Wednesday about tariffs imposed on Canada and Mexico, the U.S. Commerce Department chief said.
U.S. electric carmaker Tesla has signed a lease deal to open its first showroom in Mumbai, as it moves towards a goal to sell imported cars in India, registration papers show, after it dropped similar plans last year.
Mexico's government may look for other trade partners, the nation's president said on Wednesday, after the United States slapped tariffs on its southern neighbor.
U.S. tariffs that took effect on Tuesday are threatening to derail Canada's fledgling economic recovery and will fuel a rise in consumer prices and unemployment, potentially triggering a recession.
Reuters | March 05, 2025 | International Trade | Commodity
Indian steel mills are likely to see a sharp drop in prices after U.S. import tariffs come into effect and reshape global trade of the alloy, potentially redirecting a glut of supply into the South Asian country, S&P Global said in a note.
China's new tariffs on U.S. farm goods are poised to reshape global trade flows, prompting the world's top agricultural importer to source more meat, dairy and grains from countries in South America, Europe and the Pacific.
Price premiums for aluminium on the physical market in the United States have surged to a record high due to the looming threat of tariffs on imports of the metal used in the transport, construction and packaging industries.
The Trump administration will make an announcement later on Wednesday regarding U.S. tariffs imposed on Canada and Mexico as President Donald Trump weighs potential relief for some sectors such as automobiles, the U.S. Commerce Department chief said.
Volvo Cars may move production of some of its models to the U.S. depending on tariffs, but aims to stick to a plan to export its European-made EX30 SUV model to the United States later this year, the company's CEO said on Wednesday.
Reuters | March 04, 2025 | International Trade | Commodity
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 suspended on Tuesday the soybean import licenses of three U.S. firms and halted imports of U.S. lumber, stepping up retaliatory action after the United States imposed additional tariffs on Chinese goods.
Reuters | March 04, 2025 | International Trade
U.S. tariffs on European Union food products would cause "billion of dollars of damage" for Italy's prized agricultural exports including Parma ham and Prosecco wine, an Italian farmers' lobby said on Tuesday.
Swiss chocolate maker Lindt & Spruengli will supply chocolate to Canada made in Europe to avoid Canadian tariffs imposed to counter the higher U.S. customs duties imposed by President Donald Trump.
Best Buy warned of the possibility of higher prices for American shoppers as President Donald Trump's new duties came into force on Tuesday, while the electronics retailer also grapples with subdued spending on non-essentials.
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