FENTANYL TARIFF CUT
'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
What will Trump and Xi discuss in Washington next week?
US President Donald Trump will host Chinese President Xi Jinping on September 24 for their second meeting this year, with trade, Taiwan, Iran, artificial intelligence and fentanyl flows among key issues. Washington is seeking trade wins, while Beijing wants further tariff relief and concessions as tensions between the two powers persist.
Amazon holds talks with suppliers on pricing following tariff changes
The Financial Times reported earlier in the day that the company was seeking to cut what it pays suppliers for goods sold on its e-commerce platform, as it moves to reverse concessions intended to soften the impact of U.S. President Donald Trump's tariffs.
Where things stand on China-US trade after Trump and Xi talk
America and China have agreed to ease their trade war. Presidents Trump and Xi Jinping met to lower tariffs on Chinese goods by ten percent. They also reached an agreement on rare earth supplies. China will buy American soybeans. A deal for TikTok's US operations is expected soon. This marks a new phase in their economic standoff.
Will Trump's tariff deal tilt the playing field back toward China?
A recent trade truce between the U.S. and China has lowered tariffs on Chinese goods, offering relief to companies like Cocoon USA. However, this shift has scrambled production plans for businesses that had moved operations to countries like India, which now face higher tariffs.
Donald Trump, Xi Jinping take a step toward trade thaw
"It was an amazing meeting," Trump told reporters aboard Air Force One, calling the talks a "12 out of 10." He said tariffs on Chinese imports would be reduced to 47% from 57%, by halving to 10% the rate on goods linked to fentanyl precursor chemicals.
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US stock market futures today: Dow, S&P, Nasdaq all down — here’s what pushed Wall Street in red today
US stock market futures today dropped sharply after the Trump–Xi meeting in Busan ended without a breakthrough. The Dow fell 200 points, while S&P 500 and Nasdaq slipped 16 and 60 points respectively. The 90-minute summit produced limited results — the US halved Fentanyl tariffs to 10% and China pledged to continue rare earth exports and resume soybean and energy purchases. Markets also weakened as Meta fell 8% premarket, Bitcoin slid below $108,000, and Apple and Amazon earnings loom.
What is China gaining from the Trump-Xi trade deal: Chips, tariffs or rare earths
US and Chinese presidents concluded a meeting in Busan, reaching near-final trade deals. Tariffs on Chinese goods are set to be cut, and China may gain access to advanced US computer chips, a key for its tech ambitions. The agreement also addresses rare earth metals and agricultural purchases, aiming to ease global trade tensions.
Trump says US to cut tariffs on China to 47% after ‘amazing’ meeting with Xi, teases major outcomes ahead
President Trump announced a significant easing of trade tensions with China following a meeting with President Xi Jinping. Tariffs on Chinese goods will be reduced, and China will reportedly make large-scale purchases of American soybeans. Discussions also covered rare earths, fentanyl, and cooperation on Ukraine, with further outcomes expected soon.
Trump, Xi to discuss tariff cuts tied to China's fentanyl crackdown, WSJ reports
President Donald Trump and Chinese leader Xi Jinping are set to discuss a trade deal. The United States may reduce tariffs on Chinese goods. This comes in exchange for China curbing exports of chemicals used to make fentanyl. Details will be finalized in future talks. The meeting is scheduled for Thursday.
Trump tariffs on Russia's oil buyers bring economic, political risks
Donald Trump is using tariffs as a foreign policy tool. He threatens Russia with tariffs if it does not agree to peace in Ukraine. India already faces tariffs for importing Russian oil. China may also face secondary measures. These tariffs could raise oil prices and complicate trade deals. Putin seems ready to face economic hardship.
Tariff timeline: Major developments in Trump's trade war
US President Donald Trump Wednesday signed an executive order imposing an additional 25% tariff on India for its imports from Russia. A look at all his announcements related to tariffs on various countries.
Trump postpones higher Mexico tariff for 90 days, while 25% tariff rates stay in place
President Trump announced on Truth Social that the planned tariff hike on Mexican goods would be postponed. Following discussions with President Claudia Sheinbaum, the existing 25 percent tariff on goods not covered by the North American trade pact will remain in place for another 90 days. This extension mirrors the terms of the previous agreement between the two nations.
How Trump's trade war is upending the global economy
Since January 20, Donald Trump's tariff decisions have unsettled financial markets and created global economic uncertainty. Initially, tariffs were imposed on goods from Mexico, Canada, and China, with subsequent pauses and adjustments. Steel and aluminum tariffs were raised, while vehicle tariffs faced delays. A blanket tariff on imports was introduced, followed by exclusions for electronics.
Trump is desperate to speak to Xi Jinping this week on trade deal, will the Chinese president oblige?
Trump is trying hard to talk to China’s President Xi this week to solve trade issues. But no one knows yet if Xi will say yes to the call. The U.S. is under pressure, and both sides have trust issues after earlier deals didn’t go smoothly.
How Trump's trade war is upending the global economy
Since January 20, President Trump's tariff decisions have roiled financial markets, creating global economic uncertainty. He imposed tariffs on various countries, including Mexico, Canada, and China, often delaying or adjusting them based on negotiations and market reactions. Legal challenges arose, with courts temporarily blocking some tariffs, adding to the ongoing trade tensions and policy shifts.
Chris Wood’s GREED & Fear flags 10% tariff base case, China’s remains at 40%
Jefferies' Chris Wood highlights a tariff deflation narrative, with markets anticipating a 10% cap, despite existing 40% tariffs on China. This shift, driven by IMF-World Bank discussions, has fueled market optimism, evidenced by the S&P 500's rise. However, concerns persist regarding the dollar's decline, potential cost increases for US households, and broader macroeconomic risks, including long-term economic stability.
Global stocks rally after US, China pause tariff war, but uncertainty remains
Global stock markets rallied following a U.S.-China agreement to temporarily reduce tariffs, easing fears of a global recession. The U.S. will lower tariffs on Chinese imports from 145% to 30%, while China will reduce duties on U.S. imports to 10%. China also agreed to lift export restrictions.
Will Trump again increase tariffs on Chinese goods if US-China fail to make a deal? Check details
After US and China agreed to a deal that will significantly cut the import tariffs, US President Donald Trump expressed confidence and said he doesn't see US tariffs on China imports rising back to 145 percent. He asserted that US and China will reach a deal. The President also said he would speak to Chinese President Xi Jinping maybe at the end of the week. He said US tariffs on goods imported from China could still return.
Tariffs to hurt U.S middle class, Donald Trump to hike tax by $2000? Here's what a report states
US President Donald Trump's new tariffs on imports from Mexico, Canada, and China could lead to a $2,000 yearly tax increase for American middle-class families. Economist Dean Baker suggests these tariffs are less about tackling illegal drugs and immigration and more about addressing the budget deficit caused by tax cuts for the wealthy, impacting low and middle-income Americans.
China says wars should not be fought, cannot be won; tones down ready to fight with US remark
China has toned down its stance on engaging in any type of conflict with the US, asserting that wars cannot be won. This comes amidst ongoing tensions over tariffs and strategic competition, as both nations gear up their military capabilities and rhetoric.
‘No room left’: Donald Trump rejects last-minute deal to avert tariffs for Canada, Mexico, hikes China levy
President Trump announced there would be no eleventh-hour deal with Canada and Mexico to prevent sweeping tariffs, signing an order to increase duties on China as well. The tariffs set to impact over $918 billion worth of imports could raise consumer prices and affect economic growth. Canada and Mexico are prepared to retaliate with counter tariffs.
Wall Street closes lower as Trump sets 25% tariffs, manufacturing data dips
Wall Street's main stock indexes dropped significantly following President Trump's announcement of 25% tariffs on Canada and Mexico. The S&P 500 experienced its largest daily percentage decline since December 18, with the energy and technology sectors leading the losses. This decline is amid concerns about tariffs and softening consumer demand.
Justin Trudeau reportedly says Trump's talk of making Canada a US state is 'a real thing'
Prime Minister Justin Trudeau revealed that U.S. President Donald Trump has discussed the possibility of making Canada the 51st state, linked to Canada's natural resources. Trudeau emphasized the need to handle Trump's tariff threats strategically and enhance internal and international trade. He also mentioned Canada's new border security measures to align with U.S. expectations.
US tariff test awaits North America
Companies and individuals in North America brace for US President Donald Trump's potential 25% tariffs on Canadian and Mexican imports. Trump seeks action on illegal immigration and opioid control. Additionally, he considers a 10% tariff on Chinese imports. Industry groups await details, concerned about major price increases impacting North American trade integration.
World awaits Donald Trump tariff deadline on Canada, Mexico and China
President Donald Trump plans to impose 25 percent tariffs on Canada and Mexico unless they address illegal migrants and fentanyl. He also targets China with additional tariffs over fentanyl. Economists warn of significant economic impacts, potentially leading to recessions in Canada and Mexico, and a shallow downturn in the US.
Donald Trump says could impose 25% tariffs on Canada, Mexico on February 1
President Trump may impose 25 per cent tariffs on Canada and Mexico starting February 1, citing illegal immigration and drug trafficking concerns. He also plans punitive measures on other countries, including the European Union, to protect American workers.
Trump vows to launch 'tariff' wars
US President Donald Trump promises an overhaul of the trade system, pledging tariffs and taxes on foreign countries to protect American workers. He indicates possible tariffs on Canadian, Mexican, and Chinese imports and plans to establish an 'External Revenue Service' and a 'Department of Government Efficiency.'
Canadian premiers urge Trudeau to respond robustly against Trump's tariff threats, suggest cutting energy supplies
Trudeau met with Canada's premiers on Wednesday to discuss Ottawa's plan to address Trump's concerns, the second meeting since Trump threatened to impose steep tariffs on Canadian imports after he will be sworn in as President in January.
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