President Trump escalated his trade war with the European Union on Thursday, threatening 200 percent tariffs on European wine and champagne that deepened anxiety among businesses and consumers on both sides of the Atlantic. Mr. Trump’s announcement, in which he called the European Union “hostile and abusive,” came a day after the bloc’s leaders unveiled … Read more
President Trump is using tariffs to rewire the global economic order in a flurry of on-again, off-again maneuvers, arguing they will boost U.S. factories and generate revenue. But his strategy has already triggered retaliation from major trading partners, rattled markets and upended diplomatic ties. On Wednesday, the European Union announced up to $28 billion in … Read more
Amid a generational crisis in Canada’s relationship with the United States, the Liberal Party of Canada on Sunday chose an unelected technocrat with deep experience in financial markets to replace Justin Trudeau as party leader and the country’s prime minister, and to take on President Trump. Mark Carney, 59, who steered the Bank of Canada … Read more
Two friends from Alberta, both with strong careers overseas and similar backgrounds, are vying to replace Justin Trudeau as leader of the Liberal Party and of Canada just as the country faces a generational crisis because of the Trump administration’s tariffs and sovereignty threats. Some 400,000 Liberal Party members were eligible to cast ballots in … Read more
It took Prime Minister Justin Trudeau of Canada just minutes to tap out his reaction to his nation’s victory over the United States in an international hockey championship final on Thursday in Boston. “You can’t take our country — and you can’t take our game,” Mr. Trudeau wrote on X. Ahead of the match, the … Read more
President Trump’s readiness to use coercive tariffs presents a profound threat to the postwar economic and political order, introducing an unpredictability to global commerce that makes it difficult for trade partners to know how to react — and next to impossible for businesses to plan. But he is not the only danger the world economy … Read more
President Trump announced sweeping tariffs on foreign steel and aluminum on Monday, re-upping a policy from his first term that pleased domestic metal makers but hurt other American industries and ignited trade wars on multiple fronts. The president signed two official proclamations that would impose a 25 percent tariff on steel and aluminum from all … Read more
The European Union spent last year drawing up secret plans for what the bloc would do if President Trump made good on his threats of imposing higher tariffs on European goods and services. Now, as those threats go from hypothetical to potentially imminent, its plans are coming into broad focus. Hit specific, politically sensitive sectors … Read more
The U.S. trade deficit in goods hit a record $1.2 trillion last year, as American consumers snapped up imported products and a strong U.S. dollar weighed on export growth. Data released Wednesday morning by the Commerce Department showed that U.S. imports of goods and services grew 6.6 percent to a record $4.1 trillion, as Americans … Read more
President Trump is moving forward with extensive tariffs on America’s closest trading partners. Beginning Tuesday, companies bringing products into the United States from Canada and Mexico will pay a 25 percent tariff; importers bringing products in from China will pay an additional 10 percent on top of existing levies. The president has insisted that these … Read more