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US reaps more than $1.4 billion from steel and aluminium tariffs, report finds

In less than five months, the Trump administration has collected more than $1.4 billion in new revenue from steel and aluminum tariffs. The Congressional Research Service estimated that, between March 23 and July 16, the U.S. reaped $1.1 billion and $344.2 million from levies on foreign steel and aluminum, respectively. […]

Trump’s National Security Claim for Tariffs Sets Off Crisis at W.T.O.

President Trump’s embrace of sweeping tariffs has frustrated allies, lawmakers, and businesses across the globe. But its most lasting impact could be to hobble the World Trade Organization. The global trade group has been thrust into an uncomfortable — and potentially damaging — role as a chief judge in an […]

Trump praises Mexico, threatens Canada with auto tariffs

President Donald Trump yesterday said that a trade deal with Mexico is “coming along nicely.” But he threatened Canada with auto tariffs if the U.S. and Canada can’t forge a deal. Trump appeared to be referring to efforts to renegotiate the North American Free Trade Agreement between the U.S., Mexico, and […]

First round of US tariffs on Chinese goods to hit $50 bn Aug 23: USTR

The first round of President Donald Trump’s punitive tariffs on China will hit the full $50 billion in goods starting August 23. Washington already imposed 25 percent tariffs on $34 billion in Chinese products on July 6. But it held off on a final $16 billion as a result of […]

Trump restores Iran sanctions as Rouhani feels economic pressure

The Trump administration moved to restore some US sanctions on Iran and reaffirmed plans to impose tougher penalties on the country’s oil sales in November, as President Hassan Rouhani comes under increasing economic and political pressure to address the crisis.  President Donald Trump signed an executive order yesterday restricting purchases […]

Trump administration sanctions Russian bank, North Koreans for ‘illegal financial activity’

The Trump administration announced new sanctions targeting a Russian bank, two North Korean entities and one North Korean citizen for facilitating “illegal financial activity.” The new sanctions, announced by the Treasury Department, came as President Donald Trump continued to pursue negotiations with North Korean leader Kim Jong Un to denuclearize […]

Retaliatory tariffs on 29 US products deferred till September 18

India has deferred imposition of a retaliatory tariff on 29 US products by 45 days till September 18 due to the ongoing discussion between the two countries to resolve trade disputes. The government said in a notification, “he said notification, with effect from the 4th day of August-…shall, come into effect […]

Facebook, Twitter, Google executives to testify in US Senate on September 5

Senator Mark Warner, the committee’s Democratic vice chairman said, Senior executives of Facebook Inc, Twitter Inc and Alphabet Inc’s Google will testify to the U.S. Senate Intelligence Committee on Sept. 5. To hear the plans they have in place, to press them to do more and to work together to […]

US eases export controls for high-tech product sales to India

In a major boost to India, the US eased export controls for high-technology product sales to it by designating it as a Strategic Trade Authorization-1 (STA-1) country, the only South Asian nation to be on the list.  The designation authorizes the export, re-export, and transfer (in-country) of specified items on […]

Trump threatens U.S. government shutdown over immigration

U.S. President Donald Trump said he would allow the federal government to shut down if Democrats refuse to back major changes to immigration laws his administration wants.  Trump said on Twitter, “I would be willing to ‘shut down’ government if the Democrats do not give us the votes for Border […]