President Trump has confirmed a 35% tariff on Canadian imports, set to take effect on 1 August, citing Canada’s failure to curb fentanyl smuggling and persistent trade imbalances.
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President Trump has issued new tariff letters, announcing duties effective 1 August on exports from seven smaller nations, Brunei (25%), Moldova (25%), the Philippines (20%), Algeria (30%), Iraq (30%), Libya (30%), and Sri Lanka (30%), despite their relatively small trade volumes with the U.S.
China has strongly denounced President Trump’s threat to impose tariffs of up to 70 per cent on imports from key East Asian nations, including Japan, South Korea, Malaysia, Laos, Myanmar, Cambodia, Thailand and Indonesia.
(Friday 11 July 2025) – The US President has issued new steep tariffs on 14 countries, including Brazil, fueling fears of more trade wars over the summer.
Elon Musk has been in the news this week as he revealed his plans to start his own political party.
Earlier in the week, Trump had announced a delay to his tariff plans as he appeared to push for a global trade deal, but did threaten an extra 10% tariff on any country siding with the policies of the BRICS alliance.
As of Friday, 120 people are confirmed dead from the Texas floods, and at least 150 remain missing. Following the massive floods, more rain arrived, hampering rescue efforts.
President Trump has postponed the roll-out of planned tariffs, originally scheduled by July 9, to take effect on August 1 instead.
The long-awaited UK-US trade deal officially came into force, reducing tariffs on UK exports to the US and strengthening transatlantic economic ties.
Cliff Notes: Nike says Trump tariffs could cost it $1bn Nike estimates an additional $1 billion in costs this year if current US tariffs remain…
In May, Chinese exports to the UK surged by 16.1% compared with the previous year, marking the highest monthly level since February 2022.
France and Germany have joined forces in calling for a measured yet assertive EU response to proposed U.S. tariffs on aircraft and aircraft parts, part of Washington’s broader 20% levies on EU imports.
At the G7 summit in Canada, UK PM Keir Starmer and US President Donald Trump inked a bilateral trade deal covering the aerospace and automotive sectors.
The 51st G7 Summit kicked off on 16–17 June 2025 in Alberta, hosted by Canadian PM Mark Carney, marking Canada’s second summit here since 2002.
President Trump claims a deal with China is finalised, though specifics on tariff reductions remain unclear, highlighting ongoing negotiations.
The UK has been temporarily spared from a steep hike in US steel and aluminium tariffs, following a new executive order signed by former President Donald Trump. While tariffs on other countries doubled from 25% to 50% starting Wednesday, the UK will remain at 25%—for now.
Cliff Notes – US trade court blocks Donald Trump | US News A US trade court has blocked Donald Trump’s proposed global tariffs, ruling he…
The United States and China have agreed to a temporary reduction in the tariffs they impose on each other’s imports, marking a significant—if short-term—easing in trade tensions between the two economic powers.
Cliff Notes – UK-US trade deal ‘isn’t worth the paper it’s written on Nobel laureate Joseph Stiglitz criticises the UK-US trade deal, stating it “isn’t…
Donald Trump is expected to announce a trade deal with the UK today, following reports from the New York Times.
Donald Trump has announced he will hit foreign-made movies with 100% tariffs sending shockwaves through the entertainment industry. Trump says the US film industry is dying as filmmakers have been leaving Hollywood for cheaper destinations such as Canada and the UK.
Donald Trump’s proposed 100% tariff on foreign films could severely impact the UK’s recovering film sector, according to industry leaders.
China’s Commerce Ministry is evaluating the Trump administration’s approaches for trade talks, but one-sided tariffs up to 145% are seen as a significant barrier, undermining trust between the two nations.
Apple will source most iPhones from India and iPads from Vietnam to avoid the effects of tariffs imposed by Donald Trump, aiming to maintain consumer prices in the US.
The “de minimis” rule exempts low-value imports from customs tariffs, with thresholds varying by country (£135 in the UK, $800 in the US).
Prime Minister Mark Carney’s Liberal party is projected to win Canada’s federal election, though a majority of 172 seats remains uncertain.
The upcoming Canadian election is heavily influenced by the “Trump effect,” with increased nationalism shaping voter preferences, particularly against conservative opposition closely aligned with Trump.
Donald Trump’s tariffs and trade policies are prompting global economic policymakers to reassess their strategies while highlighting concerns about trade imbalances and reliance on a single economic partner, particularly China.