Japanese Trade Minister Ryosei Akazawa canceled a planned trip to the U.S. to discuss the U.S.-Japan trade deal due to unresolved technical issues. The cancellation stems from discrepancies regarding U.S. tariff measures, specifically the desired amendment of a presidential order to lower tariffs on automobiles and auto parts. Japan is pushing for a “no-stacking” arrangement, mirroring the EU deal, and is concerned about potential negative impacts on exports, industrial production, and corporate profits, particularly within the manufacturing sector, if the issues are not resolved. Discussions are now expected to continue at the administrative level, with a potential rescheduled visit by Akazawa possibly happening next week.
Read More
Grocery chains are increasingly raising prices, citing tariffs implemented by Donald Trump as a primary driver. Food prices have risen, with significant increases in meat, poultry, fish, and eggs. Major grocery retailers, including Walmart, Costco, Kroger, and Albertsons, are explicitly blaming the tariffs in earnings calls and public statements for passing costs to consumers, which has resulted in consumer stress. While the price increases have led to outrage and calls for boycotts, companies are also demanding their suppliers absorb some of the tariff costs.
Read More
Despite a rising stock market, the economy is in worse shape than a year ago, largely due to Trump’s policies. Public disapproval of his economic handling is evident, yet media coverage has been lacking. Trump’s “Liberation Day” tariffs have damaged trade relationships and led to job losses and price increases. While tariffs generated increased revenue, it is significantly less than income tax revenue.
Read More
The price of orange juice has increased, with U.S. shipments to Canada plummeting to a 20-year low. This is influenced by factors such as the implementation of counter-tariffs on U.S. orange juice and a reduced global supply due to poor harvests in Brazil and Florida. Consequently, consumer demand has decreased as prices rise, driving shoppers to explore alternative options like Canadian-produced orange juice brands. Experts suggest that consumers have choices and that the boycott sentiment is still going strong.
Read More
The Shopping Trends team, separate from CTV News journalists, monitors consumer purchasing habits and identifies popular products. Through their work, they may earn a commission when readers click on links and make purchases. This team provides valuable insights into trending items, guiding consumers toward popular choices. Further details on the team’s practices and their relationship to CTV News are readily available.
Read More
Indian refineries are preparing to slightly decrease their purchases of Russian crude oil in the coming weeks due to increasing pressure from the United States. This reduction, which will lower daily purchases from 1.8 million barrels to 1.4-1.6 million barrels, comes as a response to threats of increased U.S. tariffs on Indian imports. Although the U.S. has criticized India’s significant increase in Russian oil imports since 2022, no additional sanctions have yet been imposed despite previous threats. This move is seen as a symbolic gesture to Washington, rather than a complete severing of economic ties with Moscow.
Read More
Former President Donald Trump has issued a stern warning to countries imposing digital taxes on U.S. tech companies, threatening substantial new tariffs and blocked chip exports. He views these digital service taxes as discriminatory and harmful to American technology, particularly targeting companies like Apple, Google, and Meta. Trump’s statement, made on Truth Social, puts countries on notice, stating that if these taxes are not removed, there will be consequences. This issue has previously led to trade tensions, as seen when Canada rescinded its plans for a digital tax to avoid potential tariffs from the U.S.
Read More
According to the German newspaper Frankfurter Allgemeine, President Trump made multiple unsuccessful attempts to contact Indian Prime Minister Narendra Modi in recent weeks. These attempts followed a period of strained relations, marked by US tariffs on India and penalties related to Russian oil purchases, suggesting a degree of diplomatic tension. The report attributes Modi’s refusal to speak with Trump to both his anger and caution, highlighting the contentious claims made by Trump, like taking credit for a ceasefire, and the perceived economic exploitation of other nations. Furthermore, the article underscores the ongoing strategic shift in India’s foreign policy and its relationship with China, suggesting India’s growing reluctance to fully align with the United States.
Read More
Trump says China has to give US magnets or face a 200% tariff. Wow, right off the bat, it’s clear we’re dealing with some high-stakes rhetoric. The core of this is a demand, pretty blunt actually: “Give us magnets or else.” And the “or else” is a massive 200% tariff on these magnets. It’s a bold move, to say the least, and one that raises a lot of eyebrows, not least of all because the context surrounding rare-earth magnets is complex.
The immediate thought is, what’s the deal with the magnets? Why is this such a big deal? And the answer, as it often does in international trade, goes way beyond the simple transaction.… Continue reading
You have successfully subscribed to the Top Stories newsletter from Postmedia Network Inc. A welcome email has been sent and may be found in your junk folder if not received. The next edition of the newsletter will be delivered directly to your inbox. By subscribing, you acknowledge and consent to receiving this newsletter from Postmedia Network Inc.
Read More
John Q. Hosedrinker 
Matt Underwood