Tariffs News Updates

President Trump introduced 25% tariffs on U.S. imports of medium- and heavy-duty trucks and parts on Nov. 1 as he seeks to reorient trade flows, although the full details are yet to emerge.

The rollback plans were reported earlier by the Financial Times. Aluminum and other metals fell following the report, while shares of U.S. steelmakers and aluminum producers sank.

The agreement comes as the U.S. remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly $127 billion during 2025.

The House voted Feb. 11 to slap back President Donald Trump’s tariffs on Canada, a rare rebuke of the White House agenda as Republicans joined Democrats over the objections of GOP leadership.

Tariff revenue helped shrink the budget deficit by 17% in the first four months of the fiscal year, as the Supreme Court weighs whether President Trump had the authority to impose most of his duties.

The president has asked aides why he shouldn’t withdraw from the pact, which he signed during his first term, though he has stopped short of flatly signaling that he will do so, Bloomberg reports.

An unexpected change in tariff provisions cost Ford about $900 million in savings it expected last year, Chief Financial Officer Sherry House told reporters on Feb. 10.

The Commerce Department report raised questions about shoppers’ ability to spend this year as they worry about a slowing job market and uncertainty around tariffs and their impact on prices.

A Supreme Court decision on the legality of the levies is pending. Chinese company BYD's American units said they brought their suit as they’re not assured of a refund.