Trump may impose tariffs on Canada, Mexico before February 1
Vehicles and parts imported from Canada and Mexico could become more expensive January 21, 2025 17:31 President Trump has launched an "America First" trade policy that is expected to include tariffs. The 47th president said Canada and Mexico may be subject to 25% tariffs by February 1. Despite Trump's claims that foreign countries will foot the bill, importers are likely to pass on the costs to consumers. President Trump is back in the White House, which means tariffs are all but certain, although he seems to have no idea how they work. It was shocking, but that didn't stop the Commander-in-Chief from mentioning them in his inaugural address. Trump spoke yesterday and said: "I will immediately begin reforming our trading system to protect American workers and families. Instead of taxing our citizens to enrich other countries, we will impose tariffs and levies on foreign countries." To enrich our citizens.” More: Tariffs could add $3,000 to cheap cars, hitting budget buyers…
Trump pledges to impose 25% tariffs on goods from Canada and Mexico
The president-elect also said he would increase Chinese tariffs by 10% until China cracks down on illegal drug exports to the United States go through Chris Chilton November 26, 2024 07:46 Donald Trump has vowed to impose 25% tariffs on goods shipped to the United States from Mexico and Canada. The re-elected president also pledged to increase existing tariffs on goods from China by 10%. Trump said the new tariffs will remain in place until countries reduce the amount of illegal drugs shipped to the United States. Donald Trump won't return behind his old desk in the Oval Office until January, but he has already promised that one of his first orders of business will be to impose new tariffs on products from neighboring Canada and Mexico, as well as on imports from China. Products are subject to higher tariffs. Trump wrote in his first statement: "On January 20, as one of my first many executive orders, I will sign…
EU may vote on whether to impose tariffs on Chinese electric vehicles this year
The tariffs will take effect in November unless a majority of EU member states vote against them. The European Commission's investigation found that the Chinese government has been providing unfair subsidies to local car manufacturers. Proposed tariffs have been adjusted frequently in recent weeks. The European Union’s long-promised tariffs on Chinese-made electric vehicles are likely to start in November, about six weeks after the bloc voted on Sept. 25 to approve them. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("4d84e4c9 -9937-4f84-82c0-c94544ee6f2a"); } else{ adpushup.triggerAd("6a782b01-facb-45f3-a88f-ddf1b1f97657"); } }); China has been dealing with the potential impact of additional tariffs since the European Commission launched an investigation into domestically produced electric vehicles last year. Europe has proposed significantly higher tariffs for all applicable brands, but the extent of the tariff increase depends on how well each brand cooperates with the investigation. Read: EU cuts tariffs on Tesla, Geely again, but China hopes to resolve dispute through…
WorldECR | Britain and its allies impose comprehensive sanctions on Iran
The British government, in coordination with the United States and other international partners, announced "significant new measures" against Iran and Russia in response to Iran's alleged transfer of ballistic missiles to Russia for use in the war in Ukraine. The British Foreign Office announced the news on September 10, coinciding with the visit of US Secretary of State Antony Blinken, who said for the first time in London that Russia had obtained new and deadly ballistic missiles from Iran for use in Ukraine. The British Foreign Office said the latest actions against Iran and Russia came after repeated warnings from Britain and its allies, who urged Tehran to stop transferring these deadly weapons to Russia. The UK, along with France and Germany, has currently cancelled its bilateral air services arrangements with Iran, effectively limiting the ability of Iran’s national carrier, Iran Air, to operate in the UK and Europe. British Transport Secretary Louise Hague said: "We will continue to use…
Canada to impose 100% additional tax on Chinese electric vehicles
Canada imposes high taxes on Chinese electric vehicles to protect its auto industry Canada has announced plans to impose an additional 100% tax on Chinese electric vehicles, which would be added to the current 6.1% import tariff. The move is aimed at protecting the country's automotive industry, which employs more than 125,000 people. Canadian officials said the move was necessary because Chinese companies benefited from "unfair, non-market policies and practices." In response to China-made electric cars being the latest nightmare, Canada’s Department of Finance announced a series of “level playing field measures.” The biggest of these is a 100% surcharge on all Chinese-made electric cars effective October 1. The tax will be in addition to the current 6.1% import tariff on certain electric and hybrid "passenger cars, trucks, buses and delivery vans." In addition, the government announced plans to impose a 25% surcharge on steel and aluminum products imported from China starting October 15. Additional surcharges may be imposed as…
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