Latest news with #tariff
Yahoo
5 hours ago
- Business
- Yahoo
Tariffs Likely to Spark Price Increases in Steel, Aluminum
President Trump's order doubling the tariff on imported steel and aluminum is expected to touch off a wave of price increases in the U.S. Trump said in a Truth Social post that the 50% tariff on steel and aluminum imports would go into effect next Wednesday.
Daily Mail
7 hours ago
- Business
- Daily Mail
BREAKING NEWS Donald Trump announces he will DOUBLE tariffs on imported steel in crushing blow to Australia's billion-dollar export industry
United States President Donald Trump has announced he will increase the tariff on imported steel from 25 per cent to 50 per cent. Trump made the shock announcement at a steel plant in West Mifflin, Pennsylvania. 'We are going to be imposing a 25 per cent increase,' he told the crowd of workers. 'We're going to bring it from 25 per cent to 50 per cent the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States.' The move is separate to the Liberation Day tariffs, which was reinstated by a United States court just a day after they were deemed illegal last week. More to come.
CBC
8 hours ago
- Business
- CBC
Trump says he plans to double steel tariff to 50%
Social Sharing U.S. President Donald Trump said Friday he plans to double the tariff rate on steel to 50 per cent, a dramatic increase that could further push up prices for a metal used to make housing, vehicles and other goods. Trump was speaking at U.S. Steel's Mon Valley Works–Irvin Plant in West Mifflin, Pa., to announce investments by Japan's Nippon Steel. The U.S. first imposed a 25 per cent tariff on steel and aluminum from Canada in March. WATCH | Europe gets a reprieve on tariffs: Trump delays tariff threat on EU to July 4 days ago Duration 2:52 U.S. President Donald Trump says he will delay his 50 per cent tariff on imports from the European Union until July 9 after a weekend phone call between Trump and European Commission President Ursula von der Leyen.
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
What Is the Obscure Trade Court That Blocked Trump's Tariffs?
The Court of International Trade is a New York-based federal court. It has nationwide jurisdiction over tariff and trade disputes. Currently it has 14 judges, appointed by six presidents. A single judge typically presides over a case, but a three-judge panel hears cases that raise constitutional questions or have significant implications—like the Trump tariff case. Congress created the court in 1980 as a successor to the U.S. Customs Court. The customs court had operated for decades in Manhattan—a legacy of when New York City was the busiest harbor for U.S. imports. The current court has largely operated in obscurity. 'Most lawyers will get out of law school without knowing that it exists,' says one specialist attorney. Go deeper:
Bloomberg
15 hours ago
- Business
- Bloomberg
Gap CEO on Retail Pain
Open Interest Gap is predicting a tariff impact of as much as $300 million, and revealed stubborn weakness at two of its smaller brands, Banana Republic and Athleta. The company's CEO Richard Dickson joined Bloomberg Open Interest to talk about the weak quarter. (Source: Bloomberg)
