The US Supreme Court is set to reexamine an old decision that could have huge new consequences for the credibility and stability of the world’s largest economy.
Wednesday’s tariff respite is firmly in the rearview mirror, as China announced on Friday it was raising its duty on US imports to an astronomical 125%, taking effect Saturday.
US President Donald Trump’s “Liberation Day” tariffs have been met with anger, outrage, and disbelief in every corner of the world – including islands inhabited solely by penguins. At last count, over 50 countries want to talk trade with Washington, while in the US, opposition to Trump’s presidency is getting organized. Here’s a look at this weekend’s reactions.
Donald Trump’s much-anticipated “liberation day” tariff announcement on Wednesday is the biggest disruption to global trade in decades, so the political, diplomatic, and economic impacts will take time to become clear.
On Tuesday, Washington imposed tariffs of 10% on energy and 25% on all goods imported from Canada and Mexico and doubled its existing tariffs on Chinese imports from 10 to 20%. All three countries responded with harsh words and retaliatory measures. Will Donald Trump stay the course or backtrack in the days ahead?