Tariffs News Updates

India-U.S. relations have also soured because of Trump’s assertions he brokered a ceasefire between India and Pakistan during the conflict in May and used trade as a bargaining chip.

While China's shipments to the U.S. plummeted 29% in November, strong growth in sales to regions like the European Union and Africa more than offset the slump.

Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held a video call with Chinese Vice Premier He Lifeng on Dec. 5, according to China’s state-run news agency Xinhua. 

The so-called GAIN AI Act would require chipmakers to give American customers first dibs on their powerful AI chips before selling in China and other arms-embargoed countries.

The group of trailer OEMs, which calls itself the American Trailer Manufacturers Coalition, comprises Great Dane, Stoughton Trailers and Wabash.

China is home to more than 90% of global rare earths and permanent magnets refining capacity, compared with just 4% for second-place Malaysia, according to the International Energy Agency.

The world economy has proven surprisingly durable in the face of President Donald Trump’s trade wars, the Organization for Economic Cooperation and Development said Dec. 2.

Trump’s 50% tariffs on foreign steel “have fundamentally altered the competitive landscape and sharply limited our ability to access the U.S. market,” a spokeswoman said.

Costco is one of the biggest corporate players to jump into a challenge of the Trump administration's tariffs largely driven this year by small businesses and Democratic state officials.

The data for airfreight and container shipping “continue to signal expansion,” even as they weakened from June, “indicating a cooling-off in the transportation of goods worldwide,” WTO said.