All posts tagged: tariffs

Trump sued over new tariffs, experts say courts may scrap them

Trump sued over new tariffs, experts say courts may scrap them

People watch as the Doris Ocean container ship departs from the Port of Los Angeles, in Los Angeles, May 28, 2026. Mario Tama | Getty Images President Donald Trump’s global “liberation day” tariffs were struck down in the courts, shattering the cornerstone of his trade agenda. Some trade experts say his newest duties could meet the same fate — and they’ve already caught their first legal challenge. The Trump administration on Friday imposed broad tariffs on goods from more than 80 countries, alleging they have failed to effectively prohibit the use of forced labor practices. The latest tariffs — applying to trade partners that cover 99.4% of U.S. trade — were brought under Section 301 of the Trade Act of 1974, which enables the government to impose import levies in response to unfair trade practices. Section 301 has been used many times across presidential administrations to threaten or impose tariffs — including against China during Trump’s first administration. But Trump is “using the statute in a fundamentally different way,” Peter Harrell, visiting scholar at Georgetown …

Trump threatens EU tariffs over U.S. tech giant fines

Trump threatens EU tariffs over U.S. tech giant fines

President Donald Trump on Friday said his administration will launch a trade probe into the European Union that will cancel hefty fines levied against U.S. tech giants and likely result in a “substantial” tariff on the 27-member bloc. Trump, in a lengthy Truth Social post, accused the EU of “‘ROBBING’ American Companies and, in turn, the American Taxpayer” as he raged over its recent $1 billion fine on Google for allegedly giving search priority to its own services. “The European Union is at it again and, as usual, taking direct aim at GREAT American Companies!” Trump wrote in the post, which also railed against prior European fines against Apple, Meta and Amazon. Trump claimed the latest penalty against Google was issued “without explanation.” But the European Commission, the EU’s executive branch, said in a press release Wednesday that the fines totaling 890 million euros were due to Google’s alleged noncompliance with the bloc’s Digital Markets Act, which aims to scrutinize Big Tech’s practices. Trump claimed the EU’s behavior is “not going to continue during the Trump …

Trump Vows to Reverse EU Fines Against Apple and Other Tech Companies, Threatens Tariffs

Trump Vows to Reverse EU Fines Against Apple and Other Tech Companies, Threatens Tariffs

U.S. President Donald Trump today said on Truth Social that his administration plans to launch an investigation into fines the European Union has levied against tech companies like Apple, Google, and Meta for violating antitrust and Digital Markets Act rules. Trump called the European Union’s conduct “illegal and highly unethical,” vowing to get the penalties reversed and planning to institute a “substantial tariff.” The European Union is at it again and, as usual, taking direct aim at GREAT American Companies! After having fined Apple, for no reason at all, 15 Billion Dollars, Meta, 3 Billion Dollars, Amazon 2.5 Billion Dollars, and many others, we have just been informed that Google, a truly advanced and amazing group, has been fined yet another 1 Billion Dollars, without explanation. This brings the Google total to over 18 Billion Dollars! This illegal and highly discriminatory practice started at these high levels during the first year of the Sleepy Joe Biden Administration, but it’s not going to continue during the Trump Administration. The United States of America is not a …

US Hits Network of Iranian Financier Zanjani With More Sanctions

US Hits Network of Iranian Financier Zanjani With More Sanctions

WASHINGTON, July 24 (Reuters) – The United States on Friday imposed sanctions against nine ⁠firms ⁠and four people in the business network of ⁠sanctioned Iranian financier Babak Zanjani for evading sanctions, even as U.S. forces escalated their strikes across Iran.  The sanctions add to ​a broader U.S. campaign of military and economic pressure on Iran. The country’s currency has hit record lows, inflation exceeds 60% and U.S. strikes have intensified from the north ‌to the south of the country.  The U.S. Treasury ‌Department said the new designations target Zanjani’s Iran-based operations under his “Dot One” conglomerate and several firms based in Turkey and the United Arab Emirates that have supported ⁠his already designated digital ⁠asset exchanges, as well as top executives at those firms. Treasury said Zanjani had leveraged a diverse ​portfolio that includes financial services, digital asset trading and gold and precious gem production, along with major infrastructure projects, to launder revenue and move funds covertly for Iran. “The United States is holding Babak Zanjani and his sprawling network accountable for enabling the Iranian regime …

Iran war; Oil prices; Trump’s tariffs; Corey Ruiz : NPR

Iran war; Oil prices; Trump’s tariffs; Corey Ruiz : NPR

Good morning. You’re reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today’s top stories The House yesterday approved a resolution to remove U.S. forces from the war in Iran as the conflict continues to escalate in the Middle East. The non-binding resolution reflects lawmakers’ disapproval of a war they did not vote to authorize. It marked the second such rebuke passed by the House since the war began. Soon after the House vote, Senate Democrats attempted to advance their own war powers resolution, but it failed 47 to 49. In the past two weeks of renewed fighting, the U.S. has launched strikes on Iran, while Iran has targeted American bases in the Gulf and Jordan, impacting global energy markets. The U.S. Capitol is seen from the Cannon House Office Building on July 22. J. Scott Applewhite/AP hide caption toggle caption J. Scott Applewhite/AP 🎧 Brent crude oil reached its highest level since May yesterday when it …

Countries hit with U.S. tariffs reject Trump’s forced labor claims : NPR

Countries hit with U.S. tariffs reject Trump’s forced labor claims : NPR

President Trump speaks during an event to announce new tariffs in the Rose Garden at the White House on April 2, 2025. Mark Schiefelbein/AP hide caption toggle caption Mark Schiefelbein/AP Many of America’s key allies on Friday criticized the U.S. administration’s new tariffs against them, after President Trump renewed the tax on imports from more than 60 countries just as the previous tariffs expired. The U.S. Supreme Court had ruled earlier this year that many of the tariffs imposed under emergency powers were unconstitutional. The president cited lax enforcement of a ban on the use of forced labor to produce goods as his reason for renewing the tariffs, an allegation Australia and the European Union vehemently rejected. Those targeted with the latest penalties face between 10% and 12.5% on many of their exports to the U.S., although various countries have trade deal exemptions for certain sectors. “Trading partners that have made commitments to adopt, and effectively enforce, forced labor import prohibitions will have a 10% tariff, and trading partners that have failed to adopt a …

Trump to slap ‘sweeping’ new tariffs on 60 trade partners

Trump to slap ‘sweeping’ new tariffs on 60 trade partners

US President Donald Trump speaks to reporters after landing in Air Force One on July 19, 2026 in Joint Base Andrews, Maryland. Andrew Harnik | Getty Images The Trump administration will impose new tariffs just after midnight ET Friday on dozens of countries over alleged forced-labor violations, according to a notice in the Federal Register. The duties, set between 10% and 12.5%, will effectively replace President Donald Trump’s temporary 10% global tariffs, which are set to expire at the same time as the new ones take effect. The forthcoming tariffs will apply to 60 trade partners and cover 99.4% of U.S. trade, the Office of the U.S. Trade Representative said in a fact sheet Thursday afternoon. The office separately told CNBC that it could not provide an estimate of how much revenue the new tariffs will generate. The move “is the most sweeping international labor rights action the United States has ever taken — that any country has ever taken,” a senior Trump administration official told reporters in a call earlier Thursday. The official noted …

Greer hints new Trump tariffs on dozens of countries: ‘Expect action soon’

Greer hints new Trump tariffs on dozens of countries: ‘Expect action soon’

U.S. Trade Representative Jamieson Greer on Tuesday signaled another round of President Donald Trump’s tariffs is on the way. “We expect to see some action soon,” Greer told CNBC’s “Squawk Box” when asked if new tariffs are forthcoming, in light of an FT report that more duties could be announced as soon as this week. “I can’t really specify a timeline right now. I have responsibility to brief Congress and other stakeholders before I really reveal that kind of thing,” Greer noted. “But we do expect action soon,” he added. The comments suggest that the Trump administration could be poised to implement new tariffs just as some of Trump’s other import levies are set to lapse Friday. Trump in February imposed a blanket 10% tariff under Section 122 of the Trade Act of 1974, hours after the Supreme Court struck down his sweeping “liberation day” tariff regime. The Section 122 tariffs will expire at 12:01 a.m. ET on Friday unless Congress intervenes, which it appears unlikely to do. But the Trump administration has already taken …

Carney blasts new Trump tariffs: ‘Direct violation’ of trade deal 

Carney blasts new Trump tariffs: ‘Direct violation’ of trade deal 

Canadian Prime Minister Mark Carney spoke out Monday after the Trump administration announced a new 50 percent tariff on a range of exports from the U.S.’s northern neighbor. President Trump signed three orders in total, accusing the country of “discriminatory” trade policies.  Carney slammed the new import taxes as “the latest … in a series… Source link