tariffs News Updates

President Trump asked the Justice Department to start an investigation into the meatpacking industry, accusing them of driving up the price of beef through collusion and other means.

It’s unclear if the next few months will mark a turning point for the struggling farm machinery sector, with minimal details on the U.S.-China trade deal for manufacturers.

Daimler Truck North America orders in the most recent quarter totaled 26,168 trucks and buses, down 29% year over year from 36,794 vehicles, but nearly double Q2’s 13,842 total.

On-highway truck and engine sales in North America are set to fall 15% in the fourth quarter compared with Q3, Cummins Chief Financial Officer Mark Smith warned analysts and investors.

Honda lowered its profit projection for the fiscal year through March 2026 to $2 billion, which would be a decline of 64% from the year before.

The U.S. is pushing forward on President Trump’s pledge to pause penalties aimed at China’s shipbuilding industry, a key concession in his interim trade pact with counterpart Xi Jinping.

A decision against Trump could force more than $100 billion in refunds and remove a major burden on the U.S. importers that are paying the tariffs.

The country’s Finance Ministry confirmed it would end tariffs imposed March 4 on soybeans and other U.S. agricultural products including corn, wheat, sorghum and chicken, effective Nov. 10.

The administration is trying to defend the tariffs after lower courts ruled the emergency law Trump invoked doesn’t give him near-limitless power to set and change duties on imports.

The U.S. imposed a 25% tariff on British steel and 10% on the spirit — levies that remain in place despite the U.K. being the first country to reach a trade agreement with Trump.