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BRUSSELS (AP) — The European Union on Wednesday announced retaliatory trade action with new duties on U.S. industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The EU measures will cover goods from the United States worth some 26 billion euros ($28 billion), and not just steel and aluminum products, but also textiles, home appliances and agricultural goods. Motorcycles, bourbon, peanut butter and jeans will be hit, as they were during President Donald Trump’s first term. The EU duties aim for pressure points in the U.S. while...

Australia will not be granted an exemption from US tariffs on aluminium and steel imports, the White House says. US President Donald Trump had previously said he would consider excluding Australia from the 25 per cent tariffs, which take effect on Wednesday. But White House spokeswoman Karoline Leavitt has now told the ABC: "He considered it, and considered against it. There will be no exemptions." Asked why, Ms Leavitt said: "America First steel." "If they want to be exempted, they should consider moving steel manufacturing here," she said. Prime Minister Anthony Albanese described the decision as "entirely unjustified"....

Ontario Premier Doug Ford said he had agreed to suspend a 25% surcharge on electricity imports into the U.S. after conversing with U.S. Commerce Secretary Howard Lutnick in the wake of President Donald Trump's threats to hike steel and aluminum tariffs on the nation by 50%. In a statement issued with Lutnick and posted on X, Ford said he and Lutnick would now be meeting Thursday alongside the United States Trade Representative to discuss a renewal of the U.S.-Mexico-Canada free trade act ahead of Trump's self-imposed April 2 "reciprocal tariff deadline." "In response, Ontario agreed to suspend its 25 per...

President Donald Trump is ratcheting up pressure on Canada, announcing late Monday that he will double tariffs on Canadian steel and aluminum to 50 percent, citing Ontario’s move to levy a tax on U.S. electricity exports.“This will go into effect TOMORROW MORNING, March 12th,” Trump declared in a Truth Social post, emphasizing the urgency of the measure. The hike comes just hours before an already-planned 25 percent tariff was set to take effect at midnight, marking yet another sharp shift in U.S.-Canada trade relations under Trump’s second term.The president’s move underscores his determination to confront what he sees as Canada’s...

Canada and Europe, to the U.S.: “How dare you do to us what we did to you long ago! What gives you the right to do to us what we're doing to you now?!” Canada and several European nations (as well as other nations, such as China) have long placed tariffs on American goods, and/or subsidized their businesses and industries placing them at a distinct advantage over their American counterparts. Yet they, almost without exception, go ballistic when the U.S. reciprocates. This seems exceedingly odd, hypocritical-- and outright ungrateful-- as the United States essentially rebuilt much of Europe after the...

President Donald Trump said Tuesday he has ordered his administration to raise tariffs on Canadian steel and aluminum imports by an additional 25%, bringing the total duties to 50%. Trump said he was imposing the latest tariffs in response to a decision by Ontario’s government to slap a 25% tax on electricity exports to the U.S. That move by Ontario Premier Doug Ford was itself issued in retaliation to the sweeping 25% tariffs that Trump had placed on imports from Canada. This is breaking news. Please refresh for updates.

Sen. Rand Paul (R-Ky.), who has long been considered one of the Senate’s budget hawks, recently gave advice that when the stock market tumbles, “it pays to listen.” “The stock market is comprised of millions of people who are simultaneously trading. The market indexes are a distillation of sentiment,” Paul posted Monday on social platform X. “When the markets tumble like this in response to tariffs, it pays to listen.” His remarks come as markets began to dip after President Trump declined to rule out the U.S. economy from sliding into a recession. The Dow Jones Industrial Average lost 890...

Ontario’s premier, the leader of Canada’s most populous province, is now charging 25% more for electricity shipped to 1.5 million American homes and businesses in response to U.S. President Donald Trump’s tariff plan. Ontario's premier, the leader of Canada’s most populous province, announced that effective Monday it is charging 25% more for electricity to 1.5 million American homes and businesses in response to U.S. President Donald Trump's trade war. Ontario provides electricity to Minnesota, New York and Michigan. I will not hesitate to increase this charge. If the United States escalates, I will not hesitate to shut the electricity off...

China went from controlling less than 5% of the global ship building market in 1999 to more than 50% today, while pushing its direct ownership of the commercial world fleet to nearly 20%. They did so by largely unfair and illegal actions. Trump administration has proposed serious penalties to not only Chinese built ships that dock in US ports, but also, penalties to any company docking a ship at US ports that has a Chinese built ship in their fleet. Trump administrations policy of America First, is far far more than simply tariffs.

The government of Ontario is applying a 25 percent surcharge starting Monday on electricity exports to three U.S. states in response to U.S. tariffs on Canada. This surcharge will affect electricity sales for 1.5 million homes and businesses across Michigan, Minnesota and New York, the Ontario government said. In total, it could cost up to $400,000 per day. New market rules are going into place requiring Canadian electricity sellers to add a $10 per megawatt-hour surcharge, equivalent to a quarter of the electricity’s average value, to the cost of power for sales to the U.S., according to a statement from...

Quote of the Week: "If I had asked people what they wanted, they would have said faster horses." - Henry FordTalk about chaotic markets. Donald Trump’s on-again off-again tariffs on imports from Canada and Mexico caused markets to see-saw last week.Regardless of what happens next, the uncertainty could now weigh on markets until permanent trade deals are negotiated.The auto industry is right in the crosshairs of these tariffs and is understandably under pressure. The outlook for automakers was already looking shaky with electric vehicle sales losing momentum and consumer spending beginning to slow.On the other hand, pessimism creates opportunities. So...

Canada's governing Liberals will announce a replacement for Prime Minister Justin Trudeau on Sunday as the country deals with U.S. President Donald Trump's tariff threats and as a federal election looms. Liberal Party members look set to pick former central bank governor Mark Carney as the new party leader and Canada's next prime minister in a vote to be announced on Sunday evening. Carney, 59, navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694. His appointment...

Senator Elissa Slotkin (D-MI) said Sunday on NBC’s “Meet the Press” that she did not oppose tariffs. However, she said President Donald Trump’s tariffs were “reckless and “chaotic.” Slotkin said, “I think most of us aren’t against tariffs full-stop. I think tariffs are an important tool in the tool kit. I think it’s just the way he’s handling tariffs is the way he’s handling everything else right now. We want change, but there’s reckless change, and then there’s responsible change. The way that he’s on again, off again, you know, pounding Canada as if they’re the exact same thing as...

Want to switch addictions this weekend the local casino has some offers to lure in new customers for overspending just a sign of how money is getting short in our inflationary age... "During his trial at Inner London Crown Court, jurors had to watch footage found on Zou's devices of nine of the rapes. Zou, now 28, claimed he has been..."... Not too many weeks ago Congresswoman Nancy Mace told a sordid story... That kind of image takes me back to "Ancient Art and Archaeology" in high school and college classes the "temples" with graven images of... The raging sexual...

Remarks by China’s top diplomat Wang Yi on Mar 7 aim to portray the country as a responsible global player, contrasting with the US’ unilateral turn, say analysts. Whether Beijing is seen as walking the talk is the rub.China’s latest pitch for major powers to rebuff a “might is right” approach and be globally responsible is carefully crafted to win over countries by portraying itself as a benign, international player, say analysts. Observers note that Beijing could very well carve out some gains in the short run, especially as the United States under Donald Trump edges towards expansionism and unilateralism...

China announced tariffs of up to 100 percent on canola, pork and other foods from Canada on Saturday, in retaliation for Canada’s decision last August to collect steep taxes on imports of Chinese electric vehicles, steel and aluminum. The Chinese tariffs, which take effect on March 20, were also a clear warning to Canada — and, indirectly, Mexico — not to cooperate with the United States on trade. The Trump administration, like the Biden administration before it, has been demanding that Canada and Mexico not serve as back doors for low-cost Chinese goods to enter the U.S. market under North...

Former Canadian Deputy Prime Minister Chrystia Freeland said Friday on CNN’s “Anderson Cooper 360” that President Donald Trump’s tariff plans for Canada were the “dumbest” in history. Freeland said, “There have been more flip-flops than we can keep track of here in Canada. But what we do know is, you know, the prime minister is right the Wall Street Journal is right, these are the dumbest tariffs in history. This is utterly self-mutilating. It’s really a perverse approach, Anderson, because America is hurting itself, moving in this direction.” She continued, “The president is killing the U.S. stock market. Your stock...

China on Saturday announced retaliatory tariffs on some Canadian farm and food imports, after Canada imposed duties in October on Chinese-made electric vehicles and steel and aluminum products. The new duties become effective March 20, according to a statement by the Customs Tariff Commission of the State Council. Additional 100% tariffs will be imposed on Canadian rapeseed oil, oil cakes and peas, and additional 25% tariffs will apply to pork and aquatic products

President Donald Trump threatened to slap a new 250% reciprocal tariff on Canadian lumber and dairy products, perhaps as soon as Friday, one day after pausing a 25% tariff on other Canadian goods.Trump made the comments to reporters in the Oval Office on Friday, citing Canada’s 250% tariffs on U.S. dairy exports to the north.“Canada has been ripping us off for years on lumber and on dairy products,” Trump told reporters. “They will be met with the exact same tariff unless they drop it. That’s what reciprocal means.”“We may do it as early as today, or we’ll wait until Monday...

US president Donald Trump sees himself as a born negotiator with a knack for driving a hard bargain and striking a good deal. When it comes to trade, his approach is clearly positional, and negotiations are treated as zero-sum games with winners and losers. Imposing tariffs – or threatening to do so – is his preferred way of exerting influence over US trading partners. While tariffs are unilaterally imposed – and not the result of negotiations – they can be interpreted as an opening gambit to gain leverage in trade negotiations further down the line. Since taking office, Trump has...