Tariffs

Carmakers face 25% tariffs

Washington has imposed 25 per cent tariffs on imported cars and on key car parts and sub-assemblies, the outcome carmakers had dreaded most.

Tariffs on Canada and Mexico go live

After weeks of stays and diplomatic manoeuvring, the 25 per cent tariffs on all imports from Canada and Mexico have taken full legal effect, along with a duty on Chinese goods that has been raised to 20 per cent.

Why Trump counts VAT as a tariff

The administration now formally classes foreign Value-Added Taxes (VAT) as discriminatory non-tariff barriers, and that classification underpins much of its new trade doctrine.

Steel tariffs squeeze American manufacturers

The White House has put a 25 per cent tariff on imported steel and aluminium and scrapped the exemptions that long covered friendly suppliers.

Why the dollar isn't rising on tariffs

The US Dollar Index has stalled near 108, down from cyclical highs above 110, even as the administration's trade threats turn into actual decrees.

Tariffs on, tariffs off

A threatened 25 per cent levy on all Canadian and Mexican imports was called off at the last moment after talks on border enforcement, while a 10 per cent baseline tariff on Chinese goods went ahead on schedule.

Trump's first day: no tariffs, yet

Donald Trump was inaugurated without the sweeping tariff orders that markets had spent weeks bracing for.

New Year: 2025 comes down to one word — tariffs

For most American finance chiefs, planning for 2025 comes down to one number they cannot hedge: the tariff rate.

How much inflation could tariffs add?

Wall Street economists finishing their 2025 outlooks are spending most of their time on tariffs.

Christmas: A lump of coal from the Fed

Markets hoping for more festive generosity from the Federal Reserve found a lump of coal in their stockings.

The Fed cuts, then takes back half of next year's cuts

The Federal Reserve ended 2024 by cutting rates 25 basis points, to 4.25–4.50 per cent, as expected.

Black Friday: Shoppers race to beat the tariffs

Trump threatens Mexico and Canada

Donald Trump threatened on 25 November to put a twenty-five per cent tariff on all imports from Mexico and Canada on his first day in office, tying it to border enforcement and drug trafficking.

Companies are stockpiling before the tariffs hit

American companies are stockpiling. Purchasing managers expect heavy import tariffs soon after the inauguration in January, and corporate treasurers are trying to get ahead of them by bringing forward orders from Asia and Europe.

Can a stronger dollar cancel out tariffs?

The US Dollar Index (DXY) has climbed back towards 107 since the election, and trade economists are asking an old textbook question.

A 60% tariff is a tax on Americans

Donald Trump has formally restated his plan for a sixty per cent tariff on all imports from China, a shock without modern parallel for US trade.

Who really paid for Trump's first tariffs

With big new tariffs at the centre of the political debate, research on the 2018–2019 trade war gives a clear answer on who pays for import duties.

Why tariffs won't fix the trade deficit

Protectionists argue that taxing imports will close the trade deficit and bring American industry back to its former strength.

Who actually pays a 10% tariff?

Donald Trump has proposed a universal baseline tariff of ten per cent on all imports and a sixty per cent levy on Chinese goods, and corporate finance departments are arguing over what it would cost them.

The "Trump trade" hits bonds

China's cheap EVs meet Europe's tariffs

The European Commission has imposed provisional countervailing duties of up to 38.1 per cent on battery electric vehicles (EVs) imported from China.