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Trump Tariff Wars and Global Trade

Trump's sweeping tariffs on China, Canada, Mexico, and Europe and the resulting global economic and diplomatic fallout

Lula accuses Bolsonaro sons of treason over U.S. tariff threat

Illustration accompanying article: Lula accuses Bolsonaro sons of treason over U.S. tariff threat
  • Brazilian President Luiz Inacio Lula da Silva accused the Bolsonaro sons of treason for allegedly lobbying the United States to impose a 25% tariff on Brazilian goods and target the PIX payment system.
  • The accusation follows an early May trip to Washington by Sen. Flavio Bolsonaro and Rep. Eduardo Bolsonaro, where they met with President Donald Trump and senior administration officials.
  • The U.S. Trade Representative this week concluded an investigation that cited Brazil's PIX system, illegal deforestation, intellectual property piracy and anti-corruption enforcement shortcomings as grounds for the proposed tariff.
  • Lula said the trade decision surprised him, as he had believed after a recent White House meeting that the two countries were establishing a "new framework for a democratic and civilized relationship."
  • Flavio Bolsonaro denied the accusation, stating he urged Trump not to impose tariffs and sent a letter reaffirming that position.
 3 MIN READ

US imposes 10-12.5% tariffs on 60 nations over forced labor concerns

Illustration accompanying article: US imposes 10-12.5% tariffs on 60 nations over forced labor concerns
  • The Trump administration announced new tariffs of 10-12.5% on 60 trading partners on June 3 over their failure to address forced labor in imported goods.
  • The affected countries — including the UK, the EU, Canada, and Japan — account for 99.4% of US goods imports.
  • US Trade Representative Jamieson Greer said the practice of trading with nations that import forced-labor goods creates an unlevel playing field for American workers.
  • The US Trade Department said after an investigation that all 60 countries had failed to prohibit and enforce bans on importing goods made with forced labor.
  • The new duties follow the Supreme Court's February ruling that struck down the earlier "Liberation Day" tariffs as unlawful.
  • Critics have said Trump's tariff policy has caused price rises in the US and abroad.
 3 MIN READ
Illustration accompanying article: Trump gives EU until July 4 to ratify trade deal or face higher tariffs

Tariffs paid by midsize U.S. firms tripled last year, JPMorgan study says

2026-02-19

Tariffs paid by midsize U.S. companies tripled over the past year, according to new research released by the JPMorganChase Institute on Thursday. The study, based on payment data, says companies with revenues between $10 million and $1 billion and fewer than 500 employees were paying more, with effects that companies have been addressing through higher prices, fewer workers, or lower profits.

Record U.S. goods trade deficit hits $1.24 trillion in 2025

2026-02-19

The U.S. trade deficit slipped modestly in 2025, but the gap in the trade of goods — a focus of President Donald Trump’s import taxes — widened to a record level, the Commerce Department reported Feb. 19. The goods deficit rose 2% to $1.24 trillion last year even as exports and imports each grew. The deficit with China fell sharply, while gaps with Taiwan and Vietnam rose.

Argentina’s Milei heads to U.S. amid Trump pushback on China trade

2026-02-19

Argentina’s President Javier Milei is set to travel to the United States again as he takes part in the inaugural session of President Donald Trump’s “Board of Peace” initiative. The visit comes as Washington seeks tighter regional cooperation to counter Chinese influence, while Milei’s government—Argentina’s most China-dependent one—tries to maintain and expand ties with Beijing.

Hassett urges discipline for Fed economists over tariff study

2026-02-19

President Donald Trump’s top economist, Kevin Hassett, said Wednesday that Federal Reserve economists should face “discipline” after a recent study concluded that nearly all new U.S. tariffs are being paid by American companies and consumers. Hassett called the paper “an embarrassment,” as the White House renewed criticism of the central bank’s work and its independence.

Trump threatens to block Gordie Howe Bridge opening over Canada asset demands

2026-02-10

President Donald Trump threatened Monday to block the opening of the Gordie Howe International Bridge between Detroit and Canada unless Canada agrees to U.S. demands, including turning over at least half of the bridge’s ownership. In a lengthy social media post, Trump complained that the U.S. would get nothing from the bridge and that Canada did not use U.S. steel in building it.

Tariffs boost Maine softwood mill while others brace for uncertainty

2026-02-10

The owners of Pleasant River Lumber in Enfield, Maine, say U.S. tariffs on Canadian lumber imports have helped them expand production since 2020, even as some other Maine wood-product manufacturers warn that tariffs and retaliatory measures have added volatility. Co-owner Jason Brochu said trade protection has supported investment that could strengthen the mill, but competitors focused on hardwood products say demand has weakened and planning has become harder.

India and US release framework for interim trade deal cutting Trump tariffs

2026-02-08

India and the United States released a framework for an interim trade agreement aimed at lowering tariffs on Indian goods, a day after President Donald Trump said he would reduce some import taxes on India. The framework, announced in a joint statement, would lower tariffs on Indian goods to 18% from 25% after Prime Minister Narendra Modi agrees to stop buying Russian oil, Trump said.

Argentina and US sign trade deal slashing tariffs and expanding imports

2026-02-06

Argentina and the United States signed a trade and investment agreement in Washington that will cut hundreds of reciprocal tariffs and expand market access between the two countries, according to officials. The deal advances President Javier Milei’s effort to open Argentina’s economy and reflects the Trump administration’s push to lower costs for Americans, the Associated Press reported.

Trump credits tariffs for growth. Fact-check finds mixed results and inflation

2026-02-05

President Donald Trump, reviewing his first year of a second term, argued that tariffs on foreign products have produced an “American economic miracle” while inflation and trade outcomes improve. An AP fact check finds several of his figures are cherry-picked or based on data distorted by disruptions, and it says the tariff story does not match the broader picture for growth, inflation and the trade deficit.

Trump to cut tariffs on India to 18% after Modi agrees to stop Russian oil

2026-02-05

Donald Trump said Monday he plans to reduce tariffs on Indian products to 18% from 25% after India’s prime minister, Narendra Modi, agreed to stop buying Russian oil. Trump linked the move to ending Russia’s war in Ukraine and said India would also cut to zero import taxes on U.S. goods.

Valentine’s Day flower imports rise through Miami airport despite tariffs

2026-02-05

Miami International Airport expects to process about 990 million stems of cut flowers in the weeks before Feb. 14, with most fresh Valentine’s Day blooms traveling through the South Florida hub. Officials and industry representatives said tariffs on imports from Colombia and Ecuador and higher costs this year could push up retail prices.

Allies seek deals to shield themselves from Trump tariffs

2026-02-04

The allies of the United States are increasingly trying to reduce their exposure to President Donald Trump’s tariffs by striking trade arrangements with one another, according to a report this week by the Associated Press. The article cites efforts by governments and institutions to accelerate trade diversification, including in Europe and Asia, while also pointing to market signals that reflect changing investor sentiment toward the U.S. dollar.

Bessent warns Carney against fight ahead of USMCA review

2026-01-30

Treasury Secretary Scott Bessent warned Canadian Prime Minister Mark Carney that his public comments on U.S. trade policy could backfire as the formal review of the U.S.-Mexico-Canada Agreement, or USMCA, approaches. Bessent issued the warning in an interview on CNBC, urging Carney not to “pick a fight” before talks tied to the 2020 deal. Carney later told reporters he meant what he said at the World Economic Forum in Davos.

Mark Carney stands firm on Davos speech, plans new Canada trade deals

2026-01-30

Mark Carney told reporters in Ottawa that he “meant what” he said at the World Economic Forum in Davos, pushing back on claims he had walked back the comments during a phone call with President Donald Trump. The Canadian prime minister also said Canada plans to sign a series of new trade deals to reduce its dependence on the United States.

Carney defends Davos speech, says Trump impressed by trade plan

2026-01-30

Canadian Prime Minister Mark Carney said Tuesday he told President Donald Trump that he meant the criticism of US economic coercion he delivered at Davos last week. Carney rejected the Trump administration's claim that he had walked back his remarks during a Monday phone call with the president. Carney said Trump told him he was impressed with Canada's plan to negotiate a dozen new trade deals across four continents in six months.

Supreme Court weighs Trump tariffs decision as timeline stretches

2026-01-29

The Supreme Court is still considering a decision in President Donald Trump’s tariffs case months after it granted unusually quick arguments, with the justices not scheduled to meet in public for more than three weeks, according to a report Thursday by the Associated Press. Lawyers had urged speed, citing warnings about the risk of economic disruption from delay.

EU trade deal with India shows Europe seeking new partnerships

2026-01-27

The European Union’s new free trade agreement with India, announced Tuesday, highlights the bloc’s push to diversify its economic ties amid uncertainty in U.S. trade and security policy. The deal, which reflects nearly two decades of negotiations, could affect as many as 2 billion people and cut tariffs on most goods traded between the EU and India, according to the European Commission and EU officials.

Foreign pledges of $5 trillion in US investment face skepticism

2026-01-27

Top US trading partners pledged more than $5 trillion in investment in America, responding to President Donald Trump's use of tariff threats to extract concessions. But a study released Tuesday by researchers at the Peterson Institute for International Economics raises substantial doubts about whether the money will actually materialize. "How realistic are these commitments?" wrote Gregory Auclair and Adnan Mazarei of the Peterson Institute. "The short answer is that they are clouded with uncertainty." The researchers examined investment pledges made in 2025 by the European Union, Japan, South Korea, Taiwan, Switzerland, Liechtenstein and the Persian Gulf states of Saudi Arabia, Qatar, Bahrain and the United Arab Emirates.

Canada’s Carney says Trump tariff threats are “bluster” ahead of talks

2026-01-27

Canadian Prime Minister Mark Carney said Monday that some U.S. President Donald Trump’s tariff threats should be understood as “positioning” ahead of renewed U.S.-Canada free-trade talks. Carney made the remarks as Canada prepares for a review of the U.S.-Mexico-Canada Agreement this year, with trade officials characterizing the process as a “review” rather than a full renegotiation.

Trump raises tariffs on South Korean goods over stalled trade-deal approval

2026-01-26

President Donald Trump announced Monday he is increasing tariffs on South Korean goods because the country's legislature has yet to approve a trade framework announced last year. Import taxes on autos, lumber and pharmaceutical drugs from South Korea will be raised, while rates on other goods would increase from 15% to 25%, Trump said on social media.

Carney says Canada won’t pursue free trade with China as Trump warns of tariffs

2026-01-26

Canadian Prime Minister Mark Carney said Sunday that Canada has no intention of pursuing a free trade agreement with China, responding to U.S. President Donald Trump’s threat of a 100% tariff on goods imported from Canada. Carney said Canada’s recent China agreement cuts tariffs on a limited set of sectors that had been hit with tariffs, and he said the country is instead honoring commitments tied to the United States-Mexico-Canada Agreement.

Global growth showing resilience despite Trump trade disruption, leaders say

2026-01-23

Global economic leaders gathered at the World Economic Forum in Davos said Friday that the world economy is showing unexpected resilience despite tensions from the Trump administration's trade policies. The International Monetary Fund raised its growth forecast to 3.3 percent for 2026, though leading policymakers warned the growth is insufficient to address mounting challenges.

EU readies countermeasures, including its “trade bazooka,” against US threats

2026-01-22

The European Union is preparing countermeasures against the United States amid rattled by U.S. President Donald Trump’s threats over Greenland, the Associated Press reported. Because the EU is primarily a trading bloc, its toolkit is largely financial, including steep tariffs and an instrument known as the Anti-Coercion Instrument.

Japan posts 5th straight trade deficit in 2025, hit by Trump tariffs

2026-01-21

Japan posted a trade deficit for the fifth straight year in 2025, according to preliminary Finance Ministry data released Thursday. The deficit was 2.65 trillion yen ($17 billion), as exports were pressured by U.S. President Donald Trump’s tariffs and a diplomatic rift with China.

China meets initial soybean purchase goal, but Trump tariff threats cloud deal

2026-01-21

China has met an initial goal to buy U.S. soybeans, but uncertainty over President Donald Trump’s shifting tariff policy could disrupt a trade agreement announced last October, the Associated Press reported. The milestone was described Tuesday by Treasury Secretary Scott Bessent after he met with China’s Vice President He Lifeng during a major economic forum in Davos, Switzerland.

EU warns of trade 'bazooka' as Trump's Greenland tariffs rattle NATO allies

2026-01-20

European Union leaders warned Tuesday of sweeping countermeasures against the United States after President Donald Trump announced plans to impose 10 percent import tariffs on goods from eight European nations, framing the taxes as retaliation for those countries' deployment of troops to Greenland in symbolic support of Danish sovereignty. EU Commission President Ursula von der Leyen, speaking at the World Economic Forum in Davos, Switzerland, called the plan a "mistake" and warned that the bloc's response "will be unflinching, united and proportional." French President Emmanuel Macron said the EU could use its anti-coercion instrument — known colloquially as a trade "bazooka" — against the United States for the first time.

China meets soybean purchase target as Trump tariff threats loom

2026-01-20

China has completed its initial commitment to purchase 12 million metric tons of U.S. soybeans, Treasury Secretary Scott Bessent announced Tuesday from the World Economic Forum in Davos, Switzerland. But the broader trade agreement—which requires China to buy 25 million tons annually over the next three years—faces uncertainty as President Donald Trump threatens to shift tariff policy.

Wall Street sinks 2% on Trump tariff threat to 8 European nations

2026-01-20

Stocks fell sharply on Wall Street on Tuesday, with the S&P 500 declining 2.1% to 6,796.86 after President Donald Trump threatened to impose a 10% tariff on imports from eight European nations including Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland.

Canada cuts EV tariffs for China as Trump trade pressure reshapes deals

2026-01-18

Canada broke with the United States and slashed its 100% import tax on Chinese electric vehicles, striking a trade deal that it said lowers Chinese tariffs on Canadian exports, including canola. The shift, announced Friday, comes as U.S. President Donald Trump renews broad tariff pressure on trade partners and as Canada prepares for negotiations tied to the renewal of the U.S.-Mexico-Canada Agreement.

European shares fall and US stock futures sink after Trump tariff threat

2026-01-18

U.S. stock futures and European shares mostly fell on Monday after President Donald Trump threatened a 10% extra tariff on imports from eight European countries over their opposition to U.S. control of Greenland. Trading was muted in the United States for the Martin Luther King Jr. Day holiday, while investors looked ahead to a fresh week of corporate earnings and another inflation update for the Federal Reserve.

Trump joins Davos talks on inequality, AI and trade amid protests

2026-01-18

El presidente de Estados Unidos, Donald Trump, llegó a Davos, Suiza, para participar en el Foro Económico Mundial, que comienza esta semana con el lema “mejorar el estado del mundo” y el tema “Un espíritu de diálogo”. El encuentro de cuatro días congrega a líderes empresariales, de defensa y gubernamentales mientras el foro se desarrolla en un contexto de inquietud por la desigualdad económica y la erosión de la confianza.

Taiwan hails best US tariff deal as China protests

2026-01-17

Taiwan’s premier said on Friday the island secured what he called the “best tariff deal” in its trade arrangement with the United States, as China’s foreign ministry criticized the accord in Beijing. The agreement cuts U.S. tariffs on Taiwanese goods to 15% in exchange for $250 billion in new investments in the U.S. tech industry.

Canada cuts Chinese EV tariffs, wins canola access in deal that risks US trade pact

2026-01-17

Canada slashed its 100% import tax on Chinese electric vehicles and secured sharply lower Chinese tariffs on canola seeds in a trade deal struck Friday in Beijing, as Prime Minister Mark Carney moved to diversify Canada's economic partnerships amid sustained U.S. tariff pressure. The agreement reduces Canada's EV tariff to 6.1% for a quota of 49,000 Chinese vehicles annually — rising to about 70,000 in five years — while China cut its tariff on Canadian canola from 84% to 15%.

Canada's tariff cut on Chinese EVs raises stakes for U.S. automakers

2026-01-16

Canada agreed this week to cut its tariffs on Chinese electric vehicles in exchange for concessions on Canadian farm products, a deal that industry analysts said could accelerate Chinese automakers' expansion into North American markets and sharpen competitive pressure on American car companies.

Canada cuts EV tariffs from China; U.S. officials warn of job losses

2026-01-16

Chinese automakers are expanding their electric-vehicle sales across North America, and the move could give them an easier path into Canada after the country agreed to cut tariffs this week. The shift is raising concerns among U.S. officials about competitiveness and jobs as American automakers lag electrification efforts, according to analysts and U.S. remarks described by the Associated Press.

Whitmer warns Trump tariffs will worsen auto woes and aid China

2026-01-16

Michigan Gov. Gretchen Whitmer, speaking at the Detroit Auto Show, warned that President Donald Trump’s tariff strategy would worsen auto industry conditions and benefit Chinese competitors. Whitmer’s remarks came two days after Trump defended his tariff approach in Detroit, where he toured a Ford plant in Dearborn.

Whitmer warns Trump's tariffs aid China, as auto industry faces job losses

2026-01-15

Michigan Gov. Gretchen Whitmer said Thursday at the Detroit Auto Show that President Donald Trump's tariff strategy has contracted American auto manufacturing and is benefiting Chinese competitors, delivering her first speech of 2026 two days after Trump defended his trade policies in the same city. Whitmer, a term-limited Democrat in her final year as governor, said American manufacturing has contracted for months, causing job losses and production cuts. "This will only get worse without a serious shift in national policy," she said.

China reports record 2025 trade surplus of nearly $1.2 trillion amid tariffs

2026-01-13

China’s trade surplus surged in 2025 to a record of almost $1.2 trillion, the government said Wednesday, even as exports to the United States fell after President Donald Trump returned to office and escalated tariffs. The reported surplus followed export growth of 5.5% for the year, while imports stayed flat, according to customs data cited by the government.

Canadian PM Mark Carney to meet Xi in bid to rebuild ties with China

2026-01-12

Canada’s Prime Minister Mark Carney is visiting China for the first time in nearly a decade, aiming to rebuild ties with President Xi Jinping amid new U.S. tariff pressure. Carney arrives in Beijing on Wednesday, with meetings scheduled with Xi on Friday and other Chinese officials before the trip ends Saturday.

Trump visits Ford in Michigan to defend tariffs and tout economic plan

2026-01-12

President Donald Trump visited a Ford factory floor in Dearborn, Michigan, on Tuesday to defend his sweeping tariffs and argue they have boosted domestic manufacturing. At the Detroit Economic Club and later at the MotorCity Casino, he linked his economic message to concerns about job weakness and higher prices. <a href="https://apnews.com/article/trump-michigan-manufacturing-8843cdb26cdfcdf9bf8c8273823c6d84">Associated Press reported</a> the trip came as Democrats pressed his record and voters remained worried about the economy.

MichAuto report warns Michigan auto industry faces 'critical' inflection point

2026-01-09

Michigan must move decisively to protect its $348 billion stake in the global automotive industry or risk losing jobs, engineering and production to rival states and overseas competitors, according to a new report from MichAuto, the statewide industry advocacy group. Glenn Stevens, MichAuto's executive director, said the state has reached "an inflection point like we've never seen before" and called 2026 a decisive year for the state's signature economic sector. The report arrives as Michigan prepares for the Detroit Auto Show, scheduled for January 17–25 at Huntington Place.

UN forecasts global growth at 2.7% this year as tariffs weigh

2026-01-09

The United Nations forecast on Thursday that the global economy will grow 2.7% this year, slightly lower than its estimate for 2025, citing the impact of higher U.S. tariffs, economic uncertainty and geopolitical tensions. UN economists also projected growth would edge to 2.9% in 2027.

Canadian PM Mark Carney to visit China next week as ties thaw

2026-01-07

Canadian Prime Minister Mark Carney said Wednesday that he will travel to China next week to meet with Chinese President Xi Jinping. The visit, scheduled for Jan. 13 to 17, comes as Canada tries to reduce reliance on the United States amid tariff threats. Carney said the plan is aimed at building “stronger and more resilient” partnerships for Canada’s economy.

Vietnam courts China investment in boomtowns as tariff shifts raise costs

2026-01-06

Vietnam’s rapid factory growth in places such as Bac Ninh has been fueled by foreign investment redirected from China amid U.S. tariff pressure, but rising labor costs and infrastructure gaps are beginning to test the pace of expansion. The story comes as Vietnam is trying to move into higher-value manufacturing and expand beyond the United States while neighbors compete for new projects.

USDA sets per-acre farm aid for crops hurt by Trump’s China tariffs

2026-01-01

Farmers are starting to learn how much federal assistance they can expect under a $12 billion package President Donald Trump announced earlier this month, after the U.S. Department of Agriculture released Wednesday the per-acre amounts for major row crops. The payments are designed to help producers weather disruptions from the tariff dispute with China, which halted purchases of American soybeans.

Unfulfilled Trump tariff threats in 2025 show what did not take hold

2026-01-01

President Donald Trump made numerous tariff threats and trade promises in 2025, but several of the most sweeping ones had not taken effect as of late December. An Associated Press review of his public comments found examples ranging from plans for a new “External Revenue Service” to proposals for 100% tariffs on imports ranging from films to pharmaceuticals.

South Korea’s LNG deals with US cast doubt on its coal-cut climate pledge

2025-12-29

South Korea has pledged to retire most of its coal-fired power plants by 2040 and cut carbon emissions by 2035, but it is also in talks tied to U.S. trade demands that could increase imports of U.S. liquefied natural gas. At United Nations climate talks, South Korea’s new ministry laid out the coal phaseout and emissions goals, while climate and energy experts said the parallel push for LNG could lock the country into fossil-fuel dependence. The potential U.S.-Seoul energy deal would include large-scale investment and LNG purchases alongside negotiations shaped by Trump-era tariffs.