CEO Jay Foreman of Basic Fun! discusses the impact of new tariffs on his toy import business, expressing frustration over lack of clear direction and higher consumer prices.
Donald Trump defended new 50% tariffs on most Canadian goods, claiming Canada cannot survive without the US. The White House announced the duties, igniting tensions, while Canadian PM Mark Carney stated the country is "united" and agreed to intensify negotiations.
President Trump threatened to cut off all trade with Spain, citing its NATO defense spending and payment issues. However, U.S. Trade Representative Jamieson Greer indicated Trump may not follow through after a "good meeting" with Spanish PM Pedro Sánchez, suggesting positive developments on "core issues about payment."
Gold prices have fallen 30% from January peaks, hitting a seven-month low due to macroeconomic factors like the US Federal Reserve's hawkish stance, a strengthening dollar, and reduced safe-haven demand despite the US-Iran conflict. Experts predict continued near-term volatility but a positive broader outlook.
The European Parliament approved cutting import duties on US industrial goods, fulfilling a trade deal and averting new tariffs threatened by Donald Trump. The EU aims to meet a July 4 deadline.
Former Spanish Prime Minister José Luis Rodríguez Zapatero is now under investigation for tax fraud and smuggling after luxury jewelry valued at €1.2m was found in his safe. The items, reportedly from Zambia or Thailand, are suspected of not having customs duties paid. This adds to an existing probe into alleged influence peddling.
Russia has increased import duties on palm oil and its fractions from "unfriendly" countries to 35%, excluding Hungary and Slovakia. Previously, the duty rate was up to 5%.
Three Singaporeans and three companies face charges over an alleged S$23 million scheme to falsely declare Chinese-made mattresses as Singaporean exports to the US, evading anti-dumping duties. Singapore Customs is investigating.
India has extended import duties on Malaysian solar glass for five more years, ranging from 9.71% to 10.14%, following a review that found removing the levy could harm domestic manufacturers and lead to a recurrence of subsidization and injury.
India has extended import duties on Malaysian solar glass for five more years following a review that found removing the levy could harm domestic manufacturers. The duties, ranging from 9.71% to 10.14%, aim to boost India's solar manufacturing.
Bloomberg Economics estimates the RBI sold $12 billion in gold in two weeks ending May 22 to protect foreign exchange reserves amid rising energy costs and currency pressure due to the US-Iran conflict.
India's Steel Ministry has urged the Finance Ministry to remove anti-dumping duties on metallurgical coke imports due to low domestic supply and high prices, impacting steel manufacturers, including state-run RINL and smaller firms.
The EU has agreed to implement its trade deal with the US after five hours of talks, aiming to avert further tariffs threatened by Donald Trump. The pact, struck last July, will remove import duties on most US goods entering the EU, with the bloc on track to meet Trump's 4 July deadline.
EU lawmakers reached a provisional agreement to remove import duties on U.S. goods, averting potential higher tariffs threatened by President Trump. The deal includes safeguards for European industry and a deadline for the U.S. to reduce steel and aluminum derivative tariffs.
The EU and US have reached a provisional deal to remove import duties on US goods, averting a trade war and protecting jobs. The agreement, a key part of the bloc's trade pact, sets a 15% US tariff on most EU exports and was praised by negotiators.
The Indian rupee hit a record low of 95.85 against the US dollar, driven by rising crude oil prices and the ongoing Middle East conflict, despite RBI intervention and government measures to curb gold imports.
Gold and silver prices surged domestically following India's sharp increase in import duties to 15%. Analysts expect prices to align with international levels as the market absorbs the changes, with a constructive long-term outlook for gold and strong potential for silver.
India raises import duties on gold and silver to 15% to curb purchases and ease pressure on the rupee, amid rising energy costs and trade deficit
Government sources indicate no immediate plans to hike gold and silver import duties, despite calls to curb non-essential gold purchases. Meanwhile, India anticipates US trade talks addressing pending issues, including a Section 301 probe, though a comprehensive deal remains distant. India has contested US allegations of structural overcapacity, urging the termination of the investigation.
US president says tariff on vehicles imported from EU will rise to 25% and accuses bloc of non-complianceDonald Trump has said he is tearing up part of the tariff deal he struck with EU leaders at his golf course in Scotland last summer, criticising Brussels for taking so long to ratify the deal.Blindsiding Brussels late on Friday, a public holiday in much of Europe, he announced that he would be increasing tariffs on cars and lorries imported into the US from the EU from 15% to 25% from next week. Continue reading...
