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Trade Deal

All articles tagged with #trade deal

UK keeps all options open as US tariffs loom
world6 days ago

UK keeps all options open as US tariffs loom

Downing Street says nothing is off the table if the US does not honour the current UK‑US tariff deal, but stresses no one wants a trade war, as Washington moves to a 15% global tariff that would largely bypass the sector-specific deals with the UK; talks remain constructive and all options are on the table to protect British business, while the EU pauses its deal and analysts warn of potential UK damage if the broader tariff goes ahead. The policy uses Section 122 of the 1974 Trade Act, with exemptions for some items, and officials urge clarity on how UK exports will be treated.

via BBC|
#eu-trade#global-tariff#tariffs
India-U.S. trade talks paused as tariff shifts prompt rethink
world7 days ago

India-U.S. trade talks paused as tariff shifts prompt rethink

India postponed its Washington visit to advance an interim trade deal in light of U.S. tariff shifts following a Supreme Court ruling that struck down Trump-era levies; with a 25% reciprocal tariff under review and new U.S. tariffs potentially reaching 15%, both sides will reconvene after reassessing implications, aiming for a March signing and April implementation of the agreement.

via CNBC|
#india#interim-agreement#tariffs
Japan commits $36B to U.S. energy and mineral megaprojects under new trade deal
business11 days ago

Japan commits $36B to U.S. energy and mineral megaprojects under new trade deal

Japan pledges nearly $36 billion to fund three U.S. oil, gas and critical-mineral projects in Texas, Ohio and Georgia as the first tranche of a broader $550 billion investment under a landmark trade deal, aided by tariff cuts to 15%. The package includes Ohio’s $33 billion Portsmouth Powered Land natural gas facility (potentially 9.2 GW), Texas GulfLink’s $2.1 billion deepwater oil export facility, and about $600 million for a Georgia synthetic diamond grit plant run by Element Six (De Beers).

via CNBC|
#business#energy#investment
Trump hikes tariffs on South Korea to 25%, upping trade tensions
world1 month ago

Trump hikes tariffs on South Korea to 25%, upping trade tensions

President Trump announced a 25% tariff increase on South Korean imports (from 15%), accusing Seoul of not living up to a bilateral trade deal. South Korea says it has not received official notice and wants urgent talks, as the deal’s approval is still winding its way through Seoul’s National Assembly. The move prompted declines in some South Korean stocks and highlights ongoing friction over the trade agreement and broader US tariff policy.

via BBC|
#international-relations#south-korea#tariffs
EU-Mercosur trade pact signed after 25-year push, faces Parliament hurdle
world1 month ago

EU-Mercosur trade pact signed after 25-year push, faces Parliament hurdle

After a 25-year quest, the EU signed a free-trade deal with Mercosur creating a 700-million-person market and phasing out about 90% of tariffs across sectors, with EU firms set to save over €4 billion annually in duties. The pact also opens Mercosur procurement to EU companies, protects 344 European geographical indications and aims to secure critical minerals, reducing dependence on China. But ratification in the European Parliament is contested, with France opposing and Italy securing concessions; safeguards are in place to reimpose tariffs if imports rise beyond 5% in sensitive sectors, including beef (99,000 tonnes at 7.5% tariff) and poultry (180,000 tonnes per year). Projections show EU exports to Mercosur rising about 39% by 2040, while Mercosur imports grow about 17%. The deal now moves to the European Parliament for approval, with a possible court challenge ahead.

via Euronews.com|
#eu#mercosur#parliament
Canada-China trade thaw cuts EV and canola tariffs to reboot ties
world1 month ago

Canada-China trade thaw cuts EV and canola tariffs to reboot ties

Canada and China launched a preliminary trade agreement to slash tariffs on Chinese electric vehicles to 6.1% for up to 49,000 units (rising to about 70,000 in five years) and cut canola tariffs to roughly 15% by March 1, with anti-discrimination duties on canola meal, lobsters, crabs and peas removed through year-end. The deal, announced during Prime Minister Mark Carney’s visit with Xi Jinping, aims to reopen high-level dialogue and expand cooperation in energy, agriculture and green tech, while Canada counts on LNG exports to Asia and potential visa-free travel for Canadians. Reactions were mixed, reflecting U.S.-China dynamics and domestic concerns in Canada about auto industry impacts.

via CNBC|
#canada-china#canola#electric-vehicles
Tariff truce signals a reset in China-Canada ties after Xi-Carney talks
world1 month ago

Tariff truce signals a reset in China-Canada ties after Xi-Carney talks

China and Canada announced tariff relief after Xi Jinping and Mark Carney’s Beijing talks: China plans to cut tariffs on Canadian canola oil from 85% to 15% by March 1, while Canada will apply the MFN 6.1% tariff to Chinese electric vehicles, capped at 49,000 units; there will also be reduced duties on lobsters, crabs and peas, signaling a trade reset and a potential boost in Canadian-China investment as Canada diversifies from the US.

via BBC|
#canola#china-canada-relations#electric-vehicles