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Canada is yet again on the precipice of economic uncertainty as a result of U.S. President Donald Trump’s global trade war. This time it’s connected to an upcoming decision by the U.S. Supreme Court. Consider it the tariff version of the devil you know versus the devil you don’t. The …
Read More »Costco joins other companies in legal fight to demand refund of Trump tariffs
Listen to this article Estimated 4 minutes The audio version of this article is generated by text-to-speech, a technology based on artificial intelligence. Costco has added its voice and heft to a lawsuit against the U.S. government seeking to ensure they will be reimbursed for tariffs they’ve been forced to …
Read More »Trump cuts tariffs on beef, coffee and other foods as inflation concerns mount
U.S. President Donald Trump on Friday rolled back tariffs on dozens of food products, including such staples as beef, tomatoes and bananas, in the face of growing angst among American consumers about the high cost of groceries. The new exemptions — which take effect retroactively at midnight on Thursday — mark a …
Read More »U.S. Supreme Court weighs Trump’s tariffs in test of presidential power
‘Simply implausible’ to believe Congress gave Trump this power: Katyal Neal Katyal, who was acting solicitor general during the Obama administration, laid out the thrust of his argument on behalf of small businesses. “Tariffs are taxes. They take dollars from Americans’ pockets and deposit them in the U.S. Treasury,” Katyal …
Read More »U.S. stock markets tumble after Trump says he’s raising China tariffs to 100%
Stocks fell sharply on Friday, with the S&P 500 and Nasdaq suffering their biggest one-day percentage declines since April 10, while Treasury yields dropped and the U.S. dollar weakened as comments by U.S. President Donald Trump reignited worries over a U.S.-China trade war. After markets closed on Friday, Trump said …
Read More »‘So much pain’: India’s shrimp farmers reeling from U.S. tariffs
The dozen men joked and whistled as they waded into the water of a shrimp pond in India’s southeastern coastal state of Andhra Pradesh, pulling a large net behind them as they tried to catch as many shrimp as possible. The light-hearted atmosphere masked deep concern over the 50 per …
Read More »Algoma Steel to get loans of $400M federally, $100M from Ontario as tariffs hit the industry
The largest employer in the northern Ontario city of Sault Ste. Marie is getting half a billion dollars in government loans to maintain its workforce in the face of U.S. tariffs. Federal Jobs Minister Patty Hadju made the announcement at the steel mill on Monday morning. The federal government has entered …
Read More »Ottawa pledges $400M in financial aid for Algoma Steel as tariffs pummel sector
The federal government announced a $400-million financial support for Algoma Steel under its large enterprise tariff relief scheme, Jobs Minister Patty Hajdu said on Monday. The loan will “help Algoma Steel Inc. continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce,” …
Read More »Trump to put tariffs on cabinets, furniture, pharmaceuticals and heavy trucks
U.S. President Donald Trump said Thursday that he will put import taxes of 100 per cent on pharmaceutical drugs, 50 per cent on kitchen cabinets and bathroom vanities, 30 per cent on upholstered furniture and 25 per cent on heavy trucks starting on Wednesday. The posts on his social media site Truth Social did …
Read More »As combine manufacturer shifts production to Europe from U.S., experts say tariffs mean more may follow
A combine manufacturer whose primary customers are farmers in Western Canada has confirmed it is moving production of some of its heavy machinery out of the United States and into Germany to avoid tariff uncertainty. CLAAS has typically produced its North American machinery at its plant in Omaha, Neb. But for …
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