Laptop computers from Taiwan, wine from Italy, frozen shrimp from India, Nike sneakers from Vietnam and Irish butter.These products are found in homes across the United States, a testament to America’s enduring role as a champion of free trade and its standing as the most lucrative market for goods from around the world.They are now among the vast categories of goods subject to additional taxes after President Trump, on Wednesday, imposed universal tariffs on all U.S. trade partners as well as additional, heavier duties on 60 countries he deemed the “worst offenders” of unfair trade practices.In a sharp shift away…
Author: usaeverydaylife
File: workers at the Maxport factory, which makes activewear for various textile clothing brands, in Hanoi. Nhac Nguyen | Afp | Getty ImagesRetailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China.For years, China’s southern neighbor became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing. Now, as President Donald Trump expands his tariff targets, they can no longer steer clear.Trump said he will put a 46% duty on imports from Vietnam as part of a new wave of global levies…
U.S. President Donald Trump inspects a Guard of Honour at Buckingham Palace on June 3, 2019, in London.Toby Melville | Getty ImagesU.K. Prime Minister Keir Starmer told business leaders in Downing Street on Thursday that while President Donald Trump has a “mandate” to act in the interests of his country, the U.K. has a right to respond to the 10% levy the White House decided to impose on the country’s imports to the States.Still, he called for “cool heads” as he said that Britain would “move now to the next phase of our plan.””Decisions we take in the coming days…
BERLIN, GERMANY – FEBRUARY 24: Robert Habeck, chancellor candidate of the German Greens Party, speaks to the media the day after German parliamentary elections on February 24, 2025 in Berlin, Germany. The Greens came in fourth place with 11.6% of the vote, down 2.9% from the previous election. (Photo by Sean Gallup/Getty Images)Sean Gallup | Getty Images News | Getty ImagesU.S. President Donald Trump will “buckle under pressure” and alter his tariff policies if Europe bands together, acting German economy minister Robert Habeck said Thursday.”That is what I see, that Donald Trump will buckle under pressure, that he corrects his…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: The S & P 500 is trying to make it three straight days of initially opening lower only to finish the session in positive territory. This comes as the market debates if today’s tariff announcements are already priced into stocks, even as we won’t fully understand their impact for months. The market will gain some clarity later this afternoon when President Trump unveils his trade plan at a Rose…
Roberto Cingolani, CEO of Leonardo.Bloomberg | Bloomberg | Getty ImagesROME, Italy – European defense giant Leonardo hopes to present a satellite alliance with Airbus and Thales within months, the company’s CEO told CNBC, as the continent looks for alternatives to Elon Musk’s Starlink.Following months of talks, Leonardo’s Roberto Cingolani told CNBC: “At the moment, we are working together and trying to find whether there is possible good synergy, whether this is convenient from a market point of view and, of course, also whether this is acceptable from the antitrust point of view.”Reuters reported earlier this week that the three companies…
Apple’s iPhone 16 at an Apple Store on Regent Street in London on Sept. 20, 2024.Rasid Necati Aslim | Anadolu | Getty ImagesApple has made moves to diversify its supply chain beyond China to places like India and Vietnam, but tariffs announced by the White House are set to hit those countries too.U.S. President Donald Trump laid out “reciprocal tariff” rates on more than 180 countries on Wednesday.China will face a 34% tariff, but with the existing 20% rate, that brings the true tariff rate on Beijing under this Trump term to 54%, CNBC reported. India faces a 26% tariff, while Vietnam’s…
Secretary of State Marco Rubio traveled to Brussels on Thursday for a gathering of NATO foreign ministers amid high anxiety over the Trump administration’s approach to Europe, including the war in Ukraine, relations with Russia and President Trump’s growing trade war with the continent.Mr. Rubio’s visit to the alliance’s headquarters comes as relations between the United States and Europe have abruptly shifted from the close cooperation of the Biden era to mistrust and acrimony under Mr. Trump.At the same time, NATO officials may welcome a chance to confer with Mr. Rubio, whom many consider the most pro-alliance member of Mr.…
Aerial view of cargo trucks heading towards the U.S. at the Otay Commercial crossing in Tijuana, Baja California state, Mexico on March 27, 2025.Guillermo Arias | AFP | Getty ImagesA surge in freight trucking activity, from the Texas-Mexico border to the warehouses and distribution centers of major U.S. retailers, shows the extent to which U.S. companies have rushed to move more imports into the country ahead of President Donald Trump’s reciprocal tariffs, which Trump laid out on Wednesday afternoon from the Rose Garden, trade taxes that will hit international partners “immediately,” according to the White House.But all of that frontloading…
U.S. President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC.Chip Somodevilla | Getty ImagesMarkets have turned their sights on how U.S. President Donald Trump’s administration arrived at the figures behind the sweeping tariffs on U.S. imports declared Wednesday, which sent global financial markets tumbling and sparked concerns worldwide.Trump and the White House shared a series of charts on social media detailing the tariff rates they say other countries impose on the U.S. Those purported rates include the countries’ “Currency Manipulation and…
