Latest news with #autos
Al Arabiya
5 days ago
- Business
- Al Arabiya
UK says US ruling on Trump's tariffs ‘only first stage' of legal proceedings
The British government said on Thursday that a court ruling blocking US President Donald Trump's tariffs was a domestic matter for his administration, but it noted that it was 'only the first stage of legal proceedings.' 'These are matters for the United States to determine domestically and we note this is only the first stage of legal proceedings,' a government spokesperson said. 'We were the first country to secure a deal with the US in a move to protect jobs across key sectors, from autos to steel, and we are working to ensure that businesses can benefit from the deal as quickly as possible.'
Bloomberg
23-05-2025
- Automotive
- Bloomberg
European Stocks Slide, Bonds Rally as Trump Seeks 50% EU Tariff
Stocks fell in Europe while bonds rallied as US President Donald Trump threatened a 50% tariff on the European Union starting in June. The Stoxx Europe 600 Index slid 0.9% by the close in London, with tariff-exposed autos among the biggest decliners, falling 3.1%. Trump said in a social media post that he was 'recommending a straight 50% Tariff on the European Union, starting on June 1.'
Bloomberg
21-05-2025
- Automotive
- Bloomberg
Milei's Cuts Have Argentines Driving New Cars With Paper License Plates
Mariela Mailhe sells imported cars in one of Argentina's flashiest neighborhoods. They come with electronically adjustable leather seats and panoramic sunroofs, but thanks in part to Javier Milei's austerity campaign they roll off the lot with paper license plates. Since the libertarian president took office in December 2023, more than 655,000 cars have been registered with temporary credentials, according to local news outlet Chequeado. Instead of pressed aluminum plates bolted to the bumper, the paper licenses are taped to the windshield or held in place with plastic covers.
The Independent
21-05-2025
- Business
- The Independent
Japan's exports slow in April as Trump's tariffs dent shipments to the U.S.
Japan's exports to the United States, its largest single trading partner, fell nearly 2% in April as tariff hikes imposed by President Donald Trump hit home. Globally, exports rose just 2% year-on-year, down from 4% in March, leaving a trade deficit for the first time in three months. Imports from the United States fell more than 11% in April, while total imports slipped 2.2%. Weakening exports could drag on growth after the economy contracted 0.7% in the last quarter. Japan is asking the Trump administration to scrap his tariffs on imports from Japan, but so far, the U.S. has not agreed to do so. The Finance Ministry said April's trade deficit totaled 115.8 billion yen ($804 million), compared with 504.7 billion yen a year earlier. The Japanese yen recently has gained against the U.S. dollar, eroding the value of exports in yen terms. The dollar is trading at about 144 yen, down from about 155 yen a year ago. Exports had picked up earlier in the year as businesses rushed to beat tariffs that have gradually taken effect since Trump took office for a second time. While trade with the United States has suffered, exports to other regions such as Southeast Asia have expanded. The U.S. is charging a 25% tariff on imports of autos, a mainstay of Japan's trade with the U.S. and a key driver of growth for the economy. Trump has relaxed some of those tariffs but has kept in place higher tariffs on steel and aluminum. Japan's vehicle exports fell nearly 6% in April from the year before. Economic Revitalization Minister Ryosei Akazawa, Japan's main tariff negotiator, is due to visit the U.S. soon for talks, likely over the weekend, in the third round of those talks. ___ Yuri Kageyama is on Threads:
Associated Press
21-05-2025
- Automotive
- Associated Press
Japan's exports slow in April as Trump's tariffs dent shipments to the U.S.
TOKYO (AP) — Japan's exports to the United States, its largest single trading partner, fell nearly 2% in April as tariff hikes imposed by President Donald Trump hit home. Globally, exports rose just 2% year-on-year, down from 4% in March, leaving a trade deficit for the first time in three months. Imports from the United States fell more than 11% in April, while total imports slipped 2.2%. Weakening exports could drag on growth after the economy contracted 0.7% in the last quarter. Japan is asking the Trump administration to scrap his tariffs on imports from Japan, but so far, the U.S. has not agreed to do so. The Finance Ministry said April's trade deficit totaled 115.8 billion yen ($804 million), compared with 504.7 billion yen a year earlier. The Japanese yen recently has gained against the U.S. dollar, eroding the value of exports in yen terms. The dollar is trading at about 144 yen, down from about 155 yen a year ago. Exports had picked up earlier in the year as businesses rushed to beat tariffs that have gradually taken effect since Trump took office for a second time. While trade with the United States has suffered, exports to other regions such as Southeast Asia have expanded. The U.S. is charging a 25% tariff on imports of autos, a mainstay of Japan's trade with the U.S. and a key driver of growth for the economy. Trump has relaxed some of those tariffs but has kept in place higher tariffs on steel and aluminum. Japan's vehicle exports fell nearly 6% in April from the year before. Economic Revitalization Minister Ryosei Akazawa, Japan's main tariff negotiator, is due to visit the U.S. soon for talks, likely over the weekend, in the third round of those talks. ___ Yuri Kageyama is on Threads:
