In response to President Trump’s 26% tariff on Indian imports, the Indian government prioritizes negotiation over immediate retaliation, aiming for a balanced bilateral trade deal with the U.S. by fall. This approach, which includes discussions on both goods and services, leverages India’s competitive regional advantage. While offering support to affected exporters, the government acknowledges the new tariffs as a setback but anticipates a lower negotiated rate could mitigate some negative impacts. India’s measured response differs from China’s immediate retaliatory tariffs.
Read More
President Trump announced a 25% tariff on all U.S. trade with countries purchasing Venezuelan oil and gas, effective April 2nd. This action, targeting China, the largest importer of Venezuelan crude, aims to pressure President Maduro and potentially benefit Chevron by limiting Chinese influence in Venezuela’s oil sector. The tariffs follow Trump’s reversal of a Biden administration decision allowing Chevron to operate in Venezuela and his invocation of the Alien Enemies Act against the Tren de Aragua gang. Oil prices are expected to rise as a result of the new tariffs.
Read More
The White House rejected Australia’s request for an exemption from US steel and aluminum tariffs, citing an “America First” policy. This decision, despite earlier consideration, was met with criticism from Australian Prime Minister Anthony Albanese, who deemed it unjustified and contrary to the nations’ long-standing friendship. While Australia’s exports of these materials to the US are relatively small, the broader impact of the Trump administration’s protectionist trade policies on the global economy is a more significant concern for Australia. The Australian government has ruled out retaliatory tariffs, recognizing the potential for negative consequences for Australian consumers.
Read More
Trump’s announcement of doubling tariffs on Canadian steel and aluminum has sent shockwaves through the North American economy, leaving many wondering about the rationale behind this seemingly self-destructive move. The stated reasoning seems to be rooted in a belief that the US doesn’t need Canadian energy, implying that any price increases are inconsequential. This logic, however, ignores the complex interdependence of the two economies.
The immediate impact of doubled tariffs will likely be higher prices for steel and aluminum in the US. This increase will inevitably affect various industries, including car manufacturing, aerospace, shipbuilding, and even defense, all of which heavily rely on these materials.… Continue reading
President Trump’s trade policy regarding Canada continues to shift dramatically. After temporarily suspending tariffs on numerous goods, he threatened new tariffs on Canadian lumber and dairy products, mirroring Canada’s high tariffs on US exports. This action, driven by claims of unfair treatment of American farmers, introduces further uncertainty into the economy. While the US possesses significant timber resources, experts warn that new lumber tariffs could negatively impact housing affordability. These fluctuating trade policies are creating volatility in the market and concerns about economic stability.
Read More
Following President Trump’s decision to eliminate exemptions and increase tariffs on steel (to 25%) and aluminum (to 25%) imports, the Japanese government formally requested an exclusion from these tariffs. This request, made through its Washington embassy, follows the removal of previous duty-free quotas—under which Japan exported 1.18 million tons of steel to the U.S. in 2024. The tariffs represent a significant shift in U.S. trade policy and pose a potential threat to Japan’s $2 billion in steel exports to the U.S. Japan indicated it will actively pursue an exemption before the tariffs take effect.
Read More
President Trump initially suspended the de minimis trade exemption, which allows duty-free entry for small packages from China, resulting in a potential surge in processing burdens for U.S. Customs and Border Protection. However, he subsequently issued an executive order temporarily reinstating the exemption, contingent on the Commerce Secretary’s notification of sufficient systems for tariff collection. This reversal highlights the considerable uncertainty surrounding trade policy under the Trump administration. The de minimis provision, heavily utilized by companies like Temu and Shein, has faced criticism for facilitating a large influx of potentially counterfeit or unsafe goods.
Read More
The Colombian president, Gustavo Petro, has ordered an increase in import tariffs on US goods in direct response to a recent order issued by former President Donald Trump. This decision, announced swiftly after Trump’s action, underscores a rapidly escalating trade dispute.
Petro’s countermeasure isn’t simply a reaction; it’s a calculated move reflecting a deeper geopolitical shift. The initial action by Trump, which many interpreted as an attempt to exert pressure on Colombia, backfired spectacularly. Rather than caving, Petro leveraged his country’s strategic position and economic ties to retaliate. The move highlights the limitations of unilateral actions in the global marketplace.
The immediate impact is likely to be felt on both sides of the border.… Continue reading
Anticipating a potential re-imposition of tariffs by President Trump, Canadian and Mexican steelmakers are halting new U.S. orders. This action, impacting major suppliers like Stelco Holdings Inc. and impacting distributors such as Flack Global Metals, stems from concerns that steel imports from Canada and Mexico will not receive an exemption from the threatened 25 percent tariffs. With Canada being the top foreign steel supplier to the U.S. and Mexico the third largest, this uncertainty significantly impacts the U.S. steel market, which relies heavily on imports. The situation reflects a wavering confidence among steel producers in the face of the unpredictable trade policy.
Read More
This Shopping Trends report is editorially independent from CTV News. The team may receive affiliate commissions from purchases made through provided links. Full disclosure regarding our practices can be found by following the “Read about us” link.
Read More
John Q. Hosedrinker 
Matt Underwood