Trump tariffs Archives - National Times

02 May

GM to Cut Shifts at Oshawa Plant Over Trump Tariffs, Union Calls Move ‘Reckless’

Rajeev Sharma0 CommentsCanadaGeneral Motors, GM Shift c Cuts, Oshawa plant, Trump tariffs, Unifor

Oshawa (Rajeev Sharma ): General Motors has announced plans to scale back operations at its Oshawa, Ontario plant, moving from three shifts to two amid shifting demand forecasts and rising trade tensions fueled by U.S. President Donald Trump’s tariffs.The move has sparked outrage from Unifor, the union representing roughly 3,000 workers at the plant. In a statement Friday, Unifor called the decision “reckless” and warned that it will send shockwaves through Canada’s auto parts supplier network.GM defended its decision by citing changes in the trade landscape and future demand, saying the adjustment will support “a sustainable manufacturing footprint” as the…

16 Apr

Bank of Canada Hits Pause on Rate Cuts Amid Tariff Turmoil, Warns of Deep Recession Risk

Rajeev Sharma0 CommentsCanadaBank Of Canada, Interest Rate Pause, Trump tariffs

Toronto, April 17, 2025 — The Bank of Canada froze its key interest rate at 2.75% on Wednesday, marking its first pause after seven consecutive rate cuts. The central bank cited major global uncertainties—particularly U.S. President Donald Trump’s sweeping tariffs—as the reason for halting its usual forward-looking economic projections.Governor Tiff Macklem said the bank would adopt a wait-and-watch approach. “The future is really no clearer,” he said, pointing to the unpredictable nature of trade tensions. With no clarity on how long the tariffs would last or whether they might intensify, the Bank of Canada replaced its quarterly economic outlook with…

09 Apr

China Hits Back with Tariff Hike, Vows to ‘Fight to the End’ in Trade War with US

Rajeev Sharma0 CommentsWorld NewsChina tariffs, China-US trade war, Trump tariffs

Beijing, April 9, 2025: China announced a sharp escalation in its trade war with the United States on Wednesday, raising tariffs on American goods to 84% starting Thursday. The move came just days after US President Donald Trump imposed a sweeping 104% tariff on Chinese imports.Beijing also launched a new case against the US at the World Trade Organisation and imposed fresh trade restrictions on American firms operating in China. The Ministry of Commerce said the US must be prepared for firm retaliation if it continues with “economic and trade restrictions.”“If the US insists on further escalating its restrictions, China…

09 Apr

Trump Imposes 104% Tariff on China, White House Declares “America Will Not Break”

Rajeev Sharma0 CommentsWorld News104% tariff, China-US trade war, Karoline Leavitt, Trump tariffs

Washington DC, April 9, 2025: In a dramatic escalation of trade tensions, the White House on Tuesday announced that the United States will impose a 104% tariff on Chinese goods starting Wednesday. The move comes amid a deepening rift between the world’s two largest economies, following a tit-for-tat series of tariff hikes.White House Press Secretary Karoline Leavitt, during a press briefing, defended the decision as a necessary response to China’s recent retaliatory tariffs. “It was a mistake for China to retaliate. When America is punched, he punches back harder,” Leavitt said, referring to President Donald Trump’s stance. “That’s why there…

07 Apr

Jaishankar, Rubio Push for Swift India-US Trade Deal Amid Rising Tariff Tensions

Rajeev Sharma0 CommentsIndiaIndia-US trade deal, Jaishankar, Marco Rubio, Trump tariffs

New Delhi, April 7, 2025: India and the United States are speeding up efforts to finalise a long-awaited bilateral trade agreement, even as new American tariffs rattle global markets.On Monday, External Affairs Minister S. Jaishankar spoke with US Secretary of State Marco Rubio to discuss the deal’s progress. Jaishankar later confirmed that both sides stressed the importance of wrapping up the agreement quickly. “Agreed on the importance of the early conclusion of the Bilateral Trade Agreement,” he posted online, though he didn’t share further details.This conversation follows US Assistant Trade Representative Brendan Lynch’s visit to India last week, where key…

02 Apr

Trump’s New Tariff Plan Sparks Global Trade Concerns; India Watches Closely

Rajeev Sharma0 CommentsWorld Newsauto import tariffs, India-US trade, Trump tariffs, US trade war

Washington, April 2, 2025 – The US administration has announced new tariffs on countries imposing high duties on American goods, with immediate implementation. A 25% tariff on auto imports will take effect from April 3. The move, part of former President Donald Trump's aggressive trade policy, has drawn sharp responses from global trade partners.White House trade advisor Leavitt confirmed that the tariffs would be enforced instantly, while reciprocal tariffs on individual countries would be decided by Trump himself. The administration is refining the tariff strategy to ensure it aligns with US interests.India’s Cautious ApproachIndia has opted for a wait-and-watch approach,…