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Tag: tariffs

  • White House: China to buy $17B+ in US agricultural goods yearly

    White House: China to buy $17B+ in US agricultural goods yearly

    China has pledged to buy a minimum of $17 billion worth of U.S. agricultural products in 2026, 2027, and 2028, according to a fact sheet released by the White House on Sunday.

    This pledge was made during meetings last week between President Donald Trump and President Xi Jinping. The $17 billion amount excludes the soybean purchase commitments that China announced in October 2025.

    U.S. agricultural exports to China saw a significant decline last year due to a series of retaliatory tariffs, falling 65.7% compared to the previous year to $8.4 billion in 2025, based on data from the U.S. Department of Agriculture. Since Trump’s first term, China has considerably decreased its dependence on U.S. farm products, sourcing about 20% of its soybeans from the U.S. in 2024, down from 41% in 2016.

    The White House also announced that China plans to collaborate with U.S. regulators to lift bans on U.S. beef processing plants and resume poultry imports from states deemed free of avian influenza. Furthermore, both nations will set up a U.S.-China Board of Trade and a U.S.-China Investment Board to address market access issues for agricultural goods and foster trade growth through a framework of reciprocal tariff reductions, according to Chinese Foreign Minister Wang Yi last week.

  • US and China Economic Leaders to Convene in Paris Ahead of Trump-Xi Summit

    US and China Economic Leaders to Convene in Paris Ahead of Trump-Xi Summit

    Top US and Chinese financial officials are preparing for a fresh round of negotiations in Paris this Sunday. The goal is to smooth out issues in their trade truce and pave the way for President Donald Trump’s upcoming meeting with Chinese President Xi Jinping in Beijing at the end of March.

    Led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, the talks are expected to zero in on adjusting US tariffs, facilitating the flow of Chinese rare earth minerals and magnets into the US, American restrictions on high-tech exports, and Chinese commitments to purchase US agricultural products.

    The negotiations will take place at the Paris headquarters of the Organization for Economic Cooperation and Development, a group more familiar to wealthy democracies, as China considers itself still developing.

    US Trade Representative Jamieson Greer will join the discussions, continuing a series of meetings held across Europe last year aimed at easing tensions that nearly crippled trade between the two largest economies.

    Trade analysts from both countries say the chances of reaching a major breakthrough are slim, especially since Washington’s focus is currently diverted by the ongoing US-Israeli conflict with Iran. The limited time for talks further diminishes prospects for significant agreements either in Paris or in Beijing.

    Many believe that both sides are primarily interested in simply maintaining dialogue to prevent tensions from escalating further. “As far as Trump is concerned, his objective in Beijing might be to secure large Chinese orders for Boeing aircraft and increased purchases of US natural gas and soybeans,” commented Scott Kennedy, a China economic expert at the Center for Strategic and International Studies in Washington. However, this may require concessions from the US on export controls.

    Kennedy also expressed skepticism, suggesting the upcoming meetings might produce only superficial signs of progress, leaving things largely unchanged from the past few months. There’s a possibility that President Trump and Xi could meet three more times this year—potentially during the APEC summit in China in November and the G20 summit in the US in December—where more tangible breakthroughs might be possible.

    Regarding the broader geopolitical context, discussions in Paris are likely to address the impact of the US and Israel’s stance toward Iran, particularly given recent increases in oil prices and concerns over the closure of the Strait of Hormuz, a crucial passage through which China sources about 45% of its oil. Recently, US officials announced a temporary suspension of certain sanctions to enable the sale of Russian oil stranded at sea and have called for international assistance in safeguarding shipping through the Hormuz Strait following recent US military strikes on Iranian targets and threats of retaliation from Iran.

    Amid these tensions, China’s state-run Xinhua news agency noted that progress in US-China economic cooperation could help restore confidence in the fragile global economy.

    The negotiations will also revisit the commitments made under the October 2025 trade truce declared by Trump and Xi in South Korea, which temporarily eased tensions, reduced certain tariffs, and halted China’s aggressive export restrictions on rare earths for a year. China also agreed to purchase 12 million metric tons of US soybeans in the 2025 season and 25 million tons in the following year.

    While some US industries currently benefit from Chinese exports of rare earths—crucial for manufacturing high-tech goods—others, particularly in aerospace and semiconductors, face shortages of key materials like yttrium used in jet engines.

    In the short term, US officials are likely to focus on increasing Chinese purchases of US agricultural products and gaining broader access to Chinese rare earth resources.

    Adding complexity to the talks, new investigations by the US government—under Section 301—are examining China and other major trading partners for alleged unfair trade practices, such as excess industrial capacity. These probes could lead to renewed tariffs within months and also target forced labor practices in dozens of countries, including China, risking further trade disruptions.

    China has criticized these investigations and warned of possible countermeasures. An editorial in China Daily described the probes as unilateral actions complicating negotiations, emphasizing the importance of Washington adopting a pragmatic approach to stabilize economic relations with Beijing.

  • Trump raises US global tariffs from 10% to 15%

    Trump raises US global tariffs from 10% to 15%

    U.S. President Donald Trump addresses the press in the White House briefing room on February 20, 2026. — AFP
    • Trump calls Supreme Court’s decision “an anti-American ruling”.
    • President announces tariffs will increase “immediately”.
    • Claims many countries have been “exploiting” the U.S. for decades.

    President Donald Trump announced on Saturday that he is raising tariffs on imports into the U.S. from 10% to 15%, effective immediately, following a Supreme Court ruling that largely rejected his sweeping tariff policies.

    In a statement on his Truth Social platform, Trump said that after carefully reviewing what he described as an “extraordinarily anti-American decision” by the court, the administration would increase the import duties to the legally permissible maximum of 15%.

    “As President of the United States, I am immediately raising the worldwide tariff rate from 10% to 15% on countries that have, for decades, been ‘ripping off’ the U.S. without repercussions—until now,” he wrote. “Over the next few months, my administration will determine and implement new tariffs that remain within legal boundaries, continuing our successful effort to Make America Great Again.”

    This announcement follows hours after Trump dismissed the court ruling as “ridiculous” and reiterated his resolve to implement higher tariffs. He previously declared an immediate 10% tariff on imports from all nations—on top of existing duties—and issued a proclamation to enforce those taxes.

    The law permits tariffs up to 15% for 150 days, though legal challenges could arise. The Supreme Court’s 6-3 ruling on Friday disrupted the leverage Trump and his trade representatives used to influence international negotiations and shape global markets.

    The markets initially reacted positively, with stock indexes surging briefly before settling higher amid ongoing uncertainty. Analysts warn that the ruling may lead to renewed volatility as authorities and traders await Trump’s next move.

    Shortly after the decision, Trump signed an executive order scrapping the tariffs previously struck down and announced a temporary 10% duty on most imported goods, with exemptions for certain items like critical minerals, metals, and energy products, according to the White House.

  • France asserts EU has means to retaliate against Trump’s tariffs

    France asserts EU has means to retaliate against Trump’s tariffs

    Brussels has the means to respond to the U.S. for its recent tariff increases, according to France’s trade minister Nicolas Forissier, who shared this with the Financial Times on Saturday.

    Paris has been holding discussions with EU colleagues and the European Commission regarding President Donald Trump’s decision to implement a flat 10% global tariff—this move came after the U.S. Supreme Court declared many of the tariffs previously imposed on trading partners invalid.

    “For if it becomes necessary, the EU possesses the suitable tools,” Forissier stated to the FT.

    Possible EU responses include activating the “trade bazooka”—an anti-coercion instrument (ACI) potentially targeting U.S. tech firms. This tool offers a wide array of measures, such as export restrictions, tariffs on services, and the disqualification of U.S. companies from EU procurement contracts.

    There’s also a dormant package of retaliatory tariffs on more than $106 billion worth of U.S. goods that could be reactivated if needed.

  • Trump Condemns Supreme Court Ruling, Imposes 10% Tariff Restart

    Trump Condemns Supreme Court Ruling, Imposes 10% Tariff Restart

    • President Donald Trump signs an executive order to revoke tariffs that were invalidated by the court.
    • He announces a new 10% tariff on imports from all nations, effective immediately, layered atop existing tariffs, with certain exemptions like critical minerals, metals, and energy items, as stated by the White House.
    • The Supreme Court’s decisive 6-3 ruling challenged the authority Trump and his trade representatives claimed to have used to influence foreign relations and global markets through tariffs.
    • The decision briefly boosted U.S. stock markets, which then hovered with slight gains amid ongoing concerns about global market stability and potential future actions by Trump.
    • Shortly after the ruling, Trump signed an order to cancel the previously struck-down tariffs and enacted new duties of 10% on most US imports for 150 days, with specific exclusions.
    • The ruling raised questions about recent trade agreements negotiated under the threat of high tariffs and the $175 billion collected from US importers, which the court indicated may have been collected unlawfully.
    • Trump criticized the court, expressing shame and accusing some justices of being unpatriotic and swayed by foreign interests, claiming they lacked the courage to do what’s right for the country.
    • He suggested that, despite the court’s limits on his unilateral powers, there are still other ways to impose tariffs, including invoking emergency powers.
    • The court emphasized that, absent a national emergency, the president does not have inherent authority to impose tariffs during peacetime, citing the Constitution’s explicit legislative powers.
    • The decision stunned markets, injecting a new wave of uncertainty into trade policy after a tumultuous year of unpredictable tariff statements.
    • Analysts predict a return to high tariffs, but with more complexity and less direct control for the presidency, possibly leading to legal challenges in extending tariffs.
    • Trump invoked Section 122 of the Trade Act of 1974, allowing tariffs up to 15% for up to 150 days to address international payments issues, though this too could face legal scrutiny.
  • Trump Threatens Canada with Full Tariff Over China Deal

    Trump Threatens Canada with Full Tariff Over China Deal

    U.S. President Donald Trump announced on Saturday that he would impose a 100% tariff on goods imported from Canada if the country proceeds with a trade agreement with China. He warned Canadian Prime Minister Mark Carney that such a move could threaten Canada’s economy.

    “China will completely dominate Canada, wiping out their businesses, social structure, and way of life,” Trump posted on Truth Social.
    “If Canada makes a deal with China, a 100% tariff will be enforced on all Canadian products entering the U.S.”

    In a video posted on Saturday, Carney encouraged Canadians to support domestic companies but did not directly address Trump’s tariff warning.

    “Our economy is under threat from abroad, so Canadians have chosen to focus on what we can control,” Carney stated. “We can’t control other nations’ actions, but we can be our own best customer.”

    Earlier this month, Carney traveled to China in an effort to repair the strained relationship between the two countries and successfully negotiated a trade deal with China, Canada’s second-largest trading partner after the U.S.

    Following Carney’s visit to China, Trump appeared to show support. “It’s good for him to sign a trade agreement,” Trump told reporters at the White House on January 16. “If you can reach an agreement with China, you should go for it.”

    Canada’s Trade Minister Dominic LeBlanc clarified on Saturday that the agreement achieved was primarily about resolving key tariff issues, not a free trade deal.
    “The focus was on resolving several important tariff issues,” LeBlanc stated on X (formerly Twitter).

    The Chinese embassy in Canada indicated that China is prepared to work with Canada to implement the leaders’ shared consensus.

    Tensions between the two countries increased recently following Carney’s criticism of Trump’s efforts to acquire Greenland.

    Increased Pressure on Canadian Industries
    Trump also implied that China might try to use Canada as a conduit to avoid U.S. tariffs.

    “If Governor Carney thinks he’s going to make Canada a ‘Drop-Off Point’ for Chinese goods to enter the U.S., he’s mistaken,” Trump tweeted. He referred to Carney with a nickname linked to previous calls for Canada to become the 51st U.S. state.

    Later on Saturday, Trump emphasized, “The last thing the world needs is China taking over Canada. That is NOT going to happen!”

    Should Trump implement the proposed tariffs, it would sharply increase costs for Canadian exports, impacting sectors like metals, automotive manufacturing, and machinery.

    Until recently, relations between Carney and Trump were relatively cordial; however, Carney’s recent outspoken opposition to Trump’s Greenland ambitions marked a change.

    At the World Economic Forum in Davos, Carney called for nations to accept that the global rules-based order is over, highlighting Canada’s potential role as a middle power working in concert with others to resist American dominance.

    He warned, “Middle powers must act together because if you are not at the table, you are on the menu,” eliciting a standing ovation from many international leaders and industry figures.

    Trump responded at Davos, asserting that “Canada’s existence depends on the United States,” a statement Carney rejected, affirming Canada’s independence and success: “Canada thrives because we are Canadian.”

    Since then, Trump has taken steps such as revoking an invitation for Canada to join his Board of Peace, a group he intends to consult regarding international conflicts and the future of Gaza.

    Despite a promising start last year, Trump has since dismissed the US-Canada-Mexico trade agreement as “irrelevant,” throwing numerous tariff threats since regaining the presidency—though many have been paused or withdrawn amid negotiations.

    Most recently, Trump temporarily backed away from threatening tariffs on European allies after NATO leaders pledged increased Arctic security.

    The Canadian Chamber of Commerce expressed hope that the two governments can quickly resolve these issues to reduce uncertainty and protect industries facing immediate risks.

  • Trump Claims U.S. Must Control Greenland to Ensure Global Security

    Trump Claims U.S. Must Control Greenland to Ensure Global Security

    Germany and France have called Trump’s tariffs “blackmail.” Greenland emphasizes its status as a democratic society with the right to decide its future, and its prime minister states that the current tariff agreement with the U.S. will be temporarily suspended.

    In an exclusive interview at the White House on January 14, 2026, President Donald Trump declared that he no longer needs to prioritize peace after being overlooked for the Nobel Prize. He asserted that global security hinges on U.S. control over Greenland. Trump’s aggressive stance on Greenland has strained the transatlantic alliance, with threats to take the island by force, prompting European nations to unite against his plans for the Danish territory.

    European leaders condemned Trump’s threats, labeling them as “blackmail,” and announced preparations for trade retaliation. The European Union plans an emergency summit on Thursday to determine its course of action, expressing a preference to de-escalate but ready to respond if necessary.

    Greenland dismisses the tariff threats, reaffirming its commitment to independence. Prime Minister Jens-Frederik Nielsen stated via Facebook that Greenland will not be coerced, emphasizing its sovereignty and democratic nature.

    Trump, however, doubled down with a message to Norway’s Prime Minister Jonas Gahr Støre, claiming the world’s safety depends on “complete and total control of Greenland,” and dismissing peace as a primary focus. This message, confirmed to AFP, was in response to opposition from Støre and Finnish President Alexander Stubb, who opposed Trump’s tariffs. Støre clarified that the Nobel Peace Prize is awarded by an independent committee, not the Norwegian government.

    Despite existing U.S. military bases and NATO agreements with Denmark, Trump insists Greenland is vital for national security, arguing Denmark cannot defend it from Russia or China. Danish defense officials confirm that NATO allies are increasing military activities in the Arctic and North Atlantic and plan to meet with Greenland’s foreign minister to discuss further steps.

    Trump announced that starting February 1, several European countries—including Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland—would face a 10% tariff on goods shipped to the U.S., potentially rising further. German Vice Chancellor Lars Klingbeil condemned the move as “blackmail,” and France’s finance minister Roland Lescure agreed that such tactics between longtime allies are unacceptable.

    Europe is considering countermeasures, such as suspending the current tariff agreements, reimposing tariffs on U.S. imports, or employing other economic tools. Stock markets dipped as trading began, with UK Prime Minister Keir Starmer warning against a damaging trade war.

    Greenland, which has a small population of around 57,000 and has expressed concerns over Trump’s threats, continues to assert its independence. The Greenlandic dogsled federation announced that the new U.S. envoy to Greenland would be disinvited from its annual race, a move viewed as a clear rejection of Trump’s influence.

  • EU Scrambles to Block Trump Greenland Tariffs, Plans Retaliation

    EU Scrambles to Block Trump Greenland Tariffs, Plans Retaliation

    The European Union has agreed to accelerate efforts to persuade U.S. President Donald Trump to drop tariffs on European countries and is also preparing countermeasures if necessary. EU diplomats revealed that they reached a general consensus on Sunday to bolster diplomatic talks and readiness for retaliation in case the tariffs move forward.

    Trump announced on Saturday that starting February 1, he would impose escalating tariffs on Denmark, Sweden, France, Germany, the Netherlands, Finland, the UK, and Norway, unless the U.S. gains permission to buy Greenland. Several major EU nations condemned the move, calling it blackmail.

    An urgent EU summit is scheduled for Thursday in Brussels to explore options. One possibility under consideration is a tariff package on $107.7 billion worth of U.S. imports, which could automatically take effect on February 6 after a six-month delay. Another is the activation of the rarely used “Anti-Coercion Instrument” (ACI). This tool could restrict US access to public tenders, investments, banking, and trade in services — especially digital services where the U.S. has a surplus with the EU.

    Support seems stronger for the tariff package at this stage, as initial backing for the anti-coercion measures appears mixed, an EU source said.

    European Council President Antonio Costa, who presides over EU summits, stated that consultations with EU members underscored their strong support for Denmark and Greenland and their willingness to stand against any coercive pressure. Danish Foreign Minister Lars Lokke Rasmussen, visiting Norway, emphasized that Denmark remains committed to diplomacy, referencing a recent agreement among Denmark, Greenland, and the U.S. to establish a working group. Rasmussen also noted that checks and balances within American society could act as a safeguard against any impulsive decisions.

    The EU’s diplomatic efforts to engage in dialogue will likely be a key topic at the upcoming World Economic Forum in Davos, where Trump is scheduled to give a keynote speech, his first appearance in six years. An EU official summarized the EU’s strategy: “All options are on the table—dialogue with the U.S. will continue after Davos.”

    Currently, the eight countries targeted by U.S. tariffs have sent small military contingents to Greenland as tensions escalate over the future of Denmark’s Arctic territory. The joint statement issued on Sunday warned that the tariff threats undermine transatlantic relations and could lead to a dangerous spiral. They expressed their willingness to pursue dialogue based on sovereignty and respect for territorial integrity.

    Danish Prime Minister Mette Frederiksen expressed reassurance about the continent’s unified stance, reaffirming that “Europe will not be blackmailed.” The tariff disputes unsettled global markets, causing the euro and British pound to decline against the dollar, with increased volatility expected.

    Discussions around U.S. trade agreements are also underway. French President Emmanuel Macron is advocating for activating the anti-coercion tool, while Irish Prime Minister Micheál Martin advised caution, suggesting it’s premature to deploy the ACI. Italian Prime Minister Giorgia Meloni, who has closer ties with Trump than some other EU leaders, labeled the tariffs as a “mistake” and said she voiced her concerns to the president earlier Sunday.

    The situation puts existing U.S.-UK and U.S.-EU trade deals under scrutiny. These agreements have faced criticism for favoring the U.S., which maintains broad tariffs, while their partners are required to remove import duties. The European Parliament is now considering suspending its work on the EU-U.S. trade deal, especially after postponing a vote that was scheduled for January 26-27.

    German lawmakers also hinted at possible last-resort actions, including boycotting the upcoming U.S.-hosted World Cup, to influence the Greenland issue. Meanwhile, the markets remain cautious, with currency values fluctuating amid uncertainty about future trade relations.

  • Countries Threatened by Trump Greenland Tariffs Stand United

    Countries Threatened by Trump Greenland Tariffs Stand United

    Joint statement: countries impacted by Trump’s Greenland tariffs unite in response

    In a collective statement released Sunday, Britain, Denmark, Finland, France, Germany, the Netherlands, Norway, and Sweden affirmed their solidarity in facing US President Donald Trump’s tariff threats aimed at countries opposing his Greenland ambitions.

    They emphasized that such threats harm transatlantic relations and could trigger a dangerous downward spiral. The nations pledged to remain coordinated and resolute, asserting their commitment to sovereignty.

    Ireland’s Foreign Minister Helen McEntee condemned Trump’s tariffs as “completely unacceptable” and expressed regret. She reiterated that the future of Greenland should be decided by Denmark and its people, consistent with democratic principles and international law.

    President Emmanuel Macron’s team announced plans to ask the European Union to activate its novel “anti-coercion instrument” if tariffs are imposed, which would include measures like restricting imports, a tool dubbed the EU’s trade “bazooka.” This mechanism has never been used before but could be employed to counteract US actions over Greenland.

    Italy’s Prime Minister Giorgia Meloni dismissed Trump’s tariff threats as a “mistake.” During a visit to Seoul, she conveyed that imposing new sanctions would be ill-advised, adding she had discussed her views with Trump and NATO leaders. Meloni downplayed tensions, citing misunderstandings or communication issues concerning Arctic policy.

    Trump has threatened tariffs up to 25% on imports from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland—countries opposed to his Greenland plans.

    Meloni underscored NATO’s role in managing the crisis, noting that it should help organize deterrence against hostile interference in strategic regions. She suggested that European actions might have been misinterpreted as anti-American, which she said was not the case.

    From her perspective, clearer communication was necessary, and she maintained that the US perceives Greenland differently for reasons linked to national security.

  • Trump anticipates China opening its markets to U.S. exports

    Trump anticipates China opening its markets to U.S. exports

    JOINT BASE ANDREWS: President Donald Trump stated on Tuesday that he believes China will reopen its markets to American products, reaffirming a positive rapport with Chinese leader Xi Jinping.

    “I think that will happen,” Trump replied when asked if Chinese markets might once again welcome U.S. goods. He didn’t provide further details.

    Relations between Washington and Beijing have remained strained for years, with disputes over trade tariffs, intellectual property rights, human rights issues, the origins of COVID-19, cybersecurity concerns, and policies related to Taiwan, Hong Kong, and Russia’s invasion of Ukraine.

    Just a day earlier, Trump issued a warning of a potential 25% tariff on nations trading with Iran, which could reopen old wounds with Beijing, Iran’s primary trading partner.

    China criticized Trump’s warning, and he did not specify how he plans to enforce tariffs on countries engaging in commerce with Iran, which is currently experiencing significant anti-government protests.

    Trump has been deliberating his response to Iran’s situation, which last year engaged in a 12-day conflict with Israel, a US ally, and saw some of its nuclear sites targeted and bombed by the U.S. military in June.

  • Trump Threatens 25% Tariff on Nations Engaging with Iran

    Trump Threatens 25% Tariff on Nations Engaging with Iran

    President Donald Trump announced on Monday that any country conducting trade with Iran will face a 25% tariff on all dealings with the United States, as Washington considers how to respond to Iran’s ongoing protests—its largest in years.

    “Effective immediately, any nation doing business with Iran will be subject to a 25% tariff on all trades with the United States,” Trump posted on Truth Social.

    U.S. tariffs are paid by American importers bringing goods from those nations. Iran has been under heavy U.S. sanctions for years.

    “This directive is final and binding,” Trump added, without providing further details. Major recipients of Iranian exports include China, the United Arab Emirates, and India.

    The White House has not issued official documentation about this policy on its website, nor clarified the legal authority Trump would invoke to enforce it, or if the tariffs would target all Iranian trading partners. They also did not respond to a request for comment.

    Iran, which fought a 12-day war with U.S. ally Israel last year and saw its nuclear facilities bombed by the U.S. military in June, is experiencing its most intense anti-government demonstrations in recent memory.

    Trump has indicated a willingness to meet with Iranian officials and claimed contact with Iran’s opposition, all while increasing pressure on Iran’s leadership, including threats of military intervention.

    Tehran stated on Monday that it remains open to communication with Washington amid Trump’s deliberations on how to handle the protests in Iran, which have become a significant test of clerical rule since the 1979 Islamic Revolution.

    Protests initially centered on economic hardships but have evolved into outright calls for the fall of the long-standing clerical regime. According to rights group HRANA based in the U.S., there have been verified deaths of 599 people—510 protesters and 89 security personnel—since the protests kicked off on December 28.

    While airstrikes are among numerous options available to Trump, White House Press Secretary Karoline Leavitt emphasized that diplomacy remains the preferred initial approach.

    Throughout his second term, Trump often threatened and imposed tariffs on countries linked to U.S. adversaries or pursuing trade policies he deemed unfair to America.

    His trade policies face legal scrutiny as the U.S. Supreme Court considers invalidating a broad range of Trump-era tariffs.

    As a member of OPEC, Iran exported products to 147 trading partners in 2022, according to the latest data from the World Bank.

  • India-US Trade Deal Delayed as Modi Didn’t Call Trump, Official Says

    India-US Trade Deal Delayed as Modi Didn’t Call Trump, Official Says

    India’s trade agreement with the United States has been delayed because Prime Minister Narendra Modi did not make a phone call to President Donald Trump to finalize the negotiations, according to U.S. Commerce Secretary Howard Lutnick. The negotiations collapsed last year, leading Trump to double tariffs on Indian imports in August, raising them to a record 50%. This included a 25% tariff imposed in response to India’s Russian oil purchases.

    Lutnick explained on the All-In podcast that everything was in place, but the crucial step was for Modi to connect with Trump. “It’s all set up and you have to have Modi call the President. And they were uncomfortable doing it,” he said. “So Modi didn’t call.”

    This statement followed recent U.S. pressure, as Trump warned that tariffs could increase further unless India reduces its Russian oil imports. The escalation has caused the Indian rupee to hit a new low, unsettling investors who are waiting for progress in the ongoing trade negotiations, which remain unresolved.

    India is still aiming for a moderate tariff rate that falls between the offers previously discussed with Britain and Vietnam. However, that offer has now expired, Lutnick noted. The Indian trade ministry has not yet responded to inquiries regarding Lutnick’s comments.

    Last year, New Delhi and Washington were close to reaching a trade deal, but miscommunication led to its breakdown. An Indian official involved in the talks mentioned that Modi was hesitant to initiate a call to Trump, fearing it might appear one-sided or place him in a difficult position.

  • Trump reminisces about his meeting with India’s Modi

    Trump reminisces about his meeting with India’s Modi

    U.S. President Donald Trump (right) welcomes Indian Prime Minister Narendra Modi to the White House in Washington on June 27, 2017. — Reuters

    President Donald Trump of the United States shared details of a meeting with Indian Prime Minister Narendra Modi, revealing that Modi requested permission to meet with him.

    Speaking at the House GOP Member Retreat, Trump discussed the ongoing demand for the U.S.-made Apache helicopters, noting India has been waiting five years for these military aircraft.

    Trump mentioned that India ordered 68 Apache helicopters, and recalled that Modi approached him with a request: “Sir, may I see you please?” Trump responded simply, “Yes.”

    The president also acknowledged that Modi wasn’t entirely pleased with him due to tariffs imposed by Washington on India for buying Russian oil.

    “I have a very good relationship with him. He’s not thrilled because of the tariffs we’ve put on, mainly because they’re not purchasing as much Russian oil—they’re buying less now, but they have reduced their purchases significantly,” Trump explained.

    Additionally, Trump highlighted that the U.S. has imposed a 50% tariff on Indian goods, including a 25% tariff on Russian oil imports.

    On Sunday, Trump indicated that the U.S. could escalate tariffs further if India does not comply with American demands to reduce its Russian oil purchases.

    “Modi knew I was upset, and it was important to make me happy,” Trump added.

    In response to a question about India’s Russian oil purchases, Trump stated, “Trade relations matter, and we can raise tariffs on them very quickly if needed.”

    Last year, the U.S. doubled import tariffs on Indian exports to 50 as a penalty for India’s significant Russian oil imports. Despite these high tariffs, India’s exports to the U.S. increased notably in November.


  • Canada’s Carney apologizes to Trump over Reagan ad

    Canada’s Carney apologizes to Trump over Reagan ad

    A photo shows US President Donald Trump (on the right) in a meeting with Canada’s Prime Minister Mark Carney inside the Oval Office at the White House in Washington, DC, on October 7, 2025. — Reuters

    – Ontario ran an anti-tariff advertisement featuring Ronald Reagan.
    – Trump responded by announcing an increase in tariffs.
    – Carney states he did not want the ad to be broadcast.

    Canadian Prime Minister Mark Carney apologized to President Trump on Saturday for an anti-tariff political ad and advised Ontario Premier Doug Ford not to run it. After attending an Asia-Pacific summit in South Korea, Carney told reporters that he privately apologized to Trump during a dinner hosted by South Korea’s president on Wednesday.

    “I did apologize to the president,” Carney confirmed, echoing Trump’s comments from Friday. He also said he reviewed the ad with Ford beforehand but opposed its release.

    “I told Ford I didn’t want to move forward with the ad,” Carney added. The commercial, funded by outspoken Tory politician Ford—who is sometimes compared to Trump—features a clip of Ronald Reagan warning that tariffs lead to trade wars and economic ruin.

    In retaliation, Trump announced plans to increase tariffs on Canadian imports and halted trade negotiations with Canada. Earlier this week, Trump described a pleasant encounter with Carney at the same dinner but did not provide details. On Friday, Trump reiterated that negotiations with Canada remain stalled, while Carney issued an apology for the ad quoting Reagan.

    “I like him a lot, but what they did was wrong,” Trump said. “He apologized because it was a false advertisement.”

    Meanwhile, Carney described his discussion with Chinese President Xi Jinping on Friday as a significant shift after years of strained relations. The last formal meeting between Canadian and Chinese leaders happened in 2017 when then-Prime Minister Justin Trudeau briefly spoke with Xi in San Francisco.

    Carney explained that his trip to Asia aimed to diversify Canada’s economic ties away from heavy reliance on the U.S.

  • Trump Warns 100% China Tariffs Unsustainable, Still Aims to Meet Xi

    Trump Warns 100% China Tariffs Unsustainable, Still Aims to Meet Xi

    President Donald Trump and Chinese President Xi Jinping shake hands before their meeting on the sidelines of the G20 Summit in Hamburg, Germany on July 8, 2017. — Reuters

    – Trump believes the US will manage relations with China smoothly.
    – The US Treasury Secretary has a conversation with China’s Vice Premier.
    – The World Trade Organization calls on the US and China to reduce trade tensions.

    The US president has stated that a proposed 100% tariff on Chinese goods can’t be maintained long-term. He blames Beijing for the recent deadlock in trade negotiations, which was sparked by China’s tightening restrictions on rare-earth exports. When asked if such tariffs could be sustainable and how they might impact the US economy, Trump responded, “It’s not sustainable, but that’s the number we’re working with.” He added in an interview with Fox Business Network that China compelled him to impose these tariffs. Last week, Trump announced additional tariffs of 100% on Chinese imports, along with new export restrictions on critical software, set to take effect before existing tariffs expire in nine days. These measures respond to China’s significant expansion of export controls over rare earth elements, crucial for technology manufacturing, as China dominates its global market. Trump also confirmed plans for a meeting with Xi Jinping in South Korea in two weeks and expressed admiration for the Chinese leader. On the “Mornings with Maria” show, he emphasized the importance of a fair deal, stating, “I think we’ll be fine with China, but it has to be a fair deal.” Later, during a White House lunch with Ukrainian President Volodymyr Zelensky to discuss resolving Ukraine’s conflict with Russia, Trump noted, “China wants to talk, and we like talking to China.” His more conciliatory tone and the announcement of a meeting helped boost early Wall Street trading, reversing some of the week’s losses caused by rapid tariff escalations and banking sector concerns.

    US Treasury Secretary Scott Bessent had a candid discussion with China’s Vice Premier He Lifeng, promising an in-person meeting next week to continue trade talks. The WTO’s director-general, Ngozi Okonjo-Iweala, appealed to the US and China to de-escalate trade disputes, warning that a complete separation of their economies could cut global economic output by 7% over time. She expressed concern over the recent rise in tensions and noted that the global trade body has been encouraging dialogue between the two nations. Meanwhile, tensions persist as US officials criticize China’s state-led economic practices, urging the IMF and World Bank to adopt a tougher stance on China’s external and internal trade policies, which are believed to have led to excess manufacturing capacity flooding global markets with cheap products. China’s Commerce Ministry accused the US of undermining the rules-based global trading system, vowing to increase disputes through the WTO and calling for the US to reverse measures that violate non-discrimination rules and align its policies with WTO commitments. Earlier in the week, Bessent accused a top Chinese aide of being “unhinged” during recent negotiations, a claim China responded to, saying Bessent’s remarks “seriously distort the facts.”

  • Beijing Bypasses Trump Tariff Warnings

    Beijing Bypasses Trump Tariff Warnings

    Residents of Beijing responded with apathy and resilience Saturday when asked by AFP about U.S. President Donald Trump’s recent threats to escalate tariffs on China. Trump declared unexpectedly that the U.S. would impose an additional 100% tariff on all Chinese imports starting November 1, or even earlier, raising doubts about a scheduled meeting with President Xi Jinping.

    Chinese officials have yet to publicly comment on Trump’s warning, which he claimed was a response to China’s new export restrictions in the critical rare-earths sector. The foreign affairs and commerce ministries declined to comment when approached by AFP.

    “I didn’t feel anything when I saw the news,” said Liu Ming, a 48-year-old software company employee outside a major Beijing shopping mall. “Trump always has these childish or unpredictable policies.”

    “China isn’t afraid of U.S. sanctions or policies that aim to restrict us,” Liu added. “We’re confident and capable of doing better ourselves.”

    Many Beijing locals viewed Trump’s unpredictability as typical. Liu remarked, “From a Chinese standpoint, he’s somewhat unreliable. His shifting policies create chaos globally. It’s unstable.”

    Irene Wang, in her thirties and working in insurance, echoed this sentiment with humor: “He says one thing today, then maybe changes his mind after a nap. At 79, he should be a bit more calm!”

    Wang predicts these threats could backfire, possibly affecting Americans by raising the prices of Chinese goods. She acknowledged, however, that she couldn’t entirely disregard the situation, adding, “Honestly, this isn’t unprecedented. We’ll see how things unfold.”

    Some Beijing residents believe any economic impact from renewed trade tensions would be moderate. Jessica Yu, 40, said, “The import-export sector will be affected, but for everyday people in China, there probably won’t be much change soon.” She expressed hope for diplomatic calm: “The more peaceful the relationship, the better the economic growth. We want things to return to normal.”

    Her colleague, Lisa Liu, in her thirties, found a silver lining in Trump’s unpredictable leadership: “It gives us plenty to talk about at dinner.”

  • Trump Rules Out Meeting Xi, Warns of Large-Scale China Tariffs

    Trump Rules Out Meeting Xi, Warns of Large-Scale China Tariffs

    Donald Trump, the former U.S. President, shared via Truth Social that he no longer sees a need for a scheduled meeting with Chinese leader Xi Jinping at the upcoming APEC summit. Trump criticized China for adopting hostile trade tactics and announced plans to impose substantial tariffs on Chinese imports. He pointed out China’s recent export restrictions on rare earth minerals—materials essential for modern electronics and technology—as evidence of increasing hostility.

    In his post, he highlighted China’s actions, stating that the country is becoming more aggressive, despite months of relatively good relations. Trump expressed that China’s recent export control policies, affecting various elements of production, are problematic and could be used to hold the world “captive.” He also suggested that these moves might be timed to undermine recent progress in Middle Eastern diplomacy, specifically the ceasefire brokered by Trump between Israel and Hamas.

    Wall Street reacted swiftly, with stock markets dropping as fears of a renewed trade war grew. Trump had previously emphasized the importance of his planned meeting with Xi and had even considered traveling to China next year. China responded by announcing fines for ships associated with the U.S. following earlier U.S. charges against Chinese-linked vessels.

    Trump accused China of building monopolies over key materials like magnets and rare earths—a move he labeled “sinister and hostile.” He suggested that the United States might respond with financial measures depending on China’s future actions. Earlier this year, the U.S. and China engaged in tariff exchanges that nearly halted trade between the two largest economies, but both sides have since attempted to de-escalate tensions, though uncertainties remain.

    Trump also mentioned ongoing efforts to address U.S. soybean exports, which are vital for American farmers and U.S. economic prospects ahead of the 2024 elections. Overall, his comments signal a potential escalation in trade tensions and diplomatic challenges with China.