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  What happened US President  Donald Trump  threatened to raise tariffs on South Korean goods to  25% , accusing Seoul’s legislature of failing to formalise a trade deal reached last year. The higher tariffs would apply to  autos, pharmaceuticals, lumber and other goods , up from the current  15% levy . The warning was issued via social media and follows delays in South Korea’s parliament passing a  “special law on strategic investment with the US” , which would legally underpin Seoul’s investment commitments under the bilateral deal. Why this matters South Korea is  highly exposed to the US market , with America accounting for  over 17% of total exports (US$122.9 billion)  last year. Any tariff hike would directly affect major exporters such as  Hyundai Motor , which shipped  1.1 million vehicles  to the US in 2024. While Trump has often  walked back tariff threats , Bloomberg data show  about 27% of such threat...

  Key Takeaways New tariffs:  U.S. President Donald Trump announced an  additional 10% levy on Canadian goods , escalating trade tensions. Canada’s counterplay:  Prime Minister  Mark Carney  is leading an  Asia-focused trade diversification drive , targeting new agreements with  ASEAN ,  China , and  India . Economic strategy:  Ottawa aims to  double exports beyond the U.S. within a decade , reducing reliance on its southern neighbour, which currently buys  ~75% of Canada’s exports . Infrastructure focus:  Western Canada — especially  Prince Rupert Port  — emerges as a  key export hub  for commodities and energy shipments to Asia. Carney’s Asia Mission: A Reset in Foreign Trade The timing of Carney’s  first Asia tour as prime minister  coincides with Trump’s renewed tariff salvo. At the  ASEAN Summit in Malaysia , Carney worked to finalise a  Canada–ASEAN free trade agreement , ...

  Fresh Tariff Wave Announced US President Donald Trump announced new duties on imported wood and furniture, citing national security concerns. Effective  Oct 14 , tariffs will be set at  10% on timber and lumber  and  25% on kitchen cabinets, bathroom vanities, and upholstered furniture . The duties fall under  Section 232 of the Trade Act of 1974 , the same mechanism used for steel and aluminum tariffs. Higher Duties in 2026 The proclamation warns of steeper rates from  Jan 1, 2026 , with tariffs on upholstered wooden products rising to  30% , and kitchen cabinets and vanities surging to  50%  for countries without tariff-reduction agreements with the US. National Security Justification Trump argued that heavy reliance on imports threatens the domestic wood industry, which is critical to  defense infrastructure and supply chains . Wood products are used in housing, storage, transportation of munitions, and even in  missile de...

Sweeping Import Duties Effective Oct 1 President Donald Trump announced a fresh round of tariffs that will take effect on  Oct 1 , targeting a wide range of imported goods including pharmaceuticals, building materials, furniture, and heavy trucks. Pharmaceuticals Face 100% Tariff Unless Produced in U.S. Under the new measures,  branded and patented drugs  will face  100% duties  unless their manufacturers have already started or are in the process of building production facilities in the United States. Companies with U.S. facilities under construction will be exempt from the new levy. Trump did not specify under which authority the tariffs are being imposed. Building Materials and Furniture Hit With 50%–30% Tariffs Imported  kitchen cabinets, bathroom vanities, and related products  will face  50% tariffs , while  upholstered furniture  will be subject to  30% tariffs . Trump claimed that foreign suppliers have been “flooding” the U...

  Key Takeaways: Trump urged EU officials to impose tariffs of up to  100% on China and India , key buyers of Russian oil. The US signaled willingness to impose  matching tariffs  if the EU complies. Move would mark a  strategic shift  for the EU, which has leaned on sanctions rather than tariffs. Trump’s Request to the EU US President Donald Trump asked European Union envoys on Tuesday to implement sweeping tariffs on  China and India  as part of a coordinated strategy to pressure Russian President Vladimir Putin. According to a US official and an EU diplomat, Trump suggested tariffs as high as  100% , citing the two nations’ critical role in sustaining Moscow’s oil-driven economy. The proposal was made during a conference call with EU sanctions envoy David O’Sullivan and other officials. A diplomat noted the US offered to mirror any European action:  “They are basically saying: We will do this but you need to do it with us.” Strategic ...

President Donald Trump has surprised the trade and logistics world once again. His administration widened  steel and aluminum tariffs  to cover more than  400 consumer products , ranging from  motorcycles and auto parts to baby booster seats and tableware . The change, which took effect  immediately on Monday , left importers scrambling, as even goods already in transit were not exempt. What Changed? New scope:  Items containing steel or aluminum — even in packaging or small components — are now subject to tariffs. Products affected:  Auto parts, chemicals, plastics, furniture components, motorcycles, baby gear, and more. Implementation shock:  Customs brokers say this was a “gotcha” move with no grace period for in-transit goods. As one logistics executive put it:  “If it’s shiny, metallic, or remotely related to steel or aluminum, it’s probably on the list.” Impact on Business Compliance nightmare:  Importers now need to track exact me...

President Donald Trump has extended a key tariff deadline with China by 90 days, preventing a sharp increase in U.S. levies on Chinese imports that was set to take effect Tuesday. The extension, confirmed by the  Wall Street Journal  and CNBC, comes as both sides continue trade negotiations. Key Points: Without the extension, tariffs on goods such as  toys, footwear, and furniture  could have risen sharply. Current U.S. tariffs on Chinese goods stand at  30% , down from an earlier 145% as part of a temporary truce. China imposes  10% tariffs  on U.S. products, with exemptions for certain goods. Trump described U.S.–China relations as “very good” but stopped short of confirming a full trade deal. “We’ll see what happens,” he told reporters. He later signed an executive order to formalize the 90-day pause. Agricultural Pressure & Market Reaction: Trump has urged Beijing to increase purchases of  U.S. soybeans , calling it a way to reduce China’s...

Volatility Ahead, But Panic on Hold Indian stocks are expected to open choppy as  Trump threatens higher tariffs on India , citing its continued purchase of Russian oil. Still,  Nifty futures held steady  in early trade, suggesting  markets aren’t pricing in immediate shock  — at least for now. “Short-lived,” says Mark Mobius on Trump’s tariff noise.  Earnings Recovery Delayed Jefferies & Motilal Oswal : More  FY26 profit downgrades  ahead Q1 results  largely underwhelming — marking the  4th straight quarter of muted growth Morgan Stanley  remains hopeful for a  September quarter rebound Key earnings today : Bharti Airtel Adani Ports Britannia Industries MSCI Inclusion Buzz Nuvama sees  rising passive inflows  ahead of the MSCI Standard Index reshuffle.  Candidates include : Vishal Mega Mart Swiggy Hitachi Energy India Waaree Energies ➡️ Estimated  passive flows: up to $270M ➡️ Signals  strong globa...

Broad-Based Tariff Surge Effective in 7 Days US President Donald Trump signed an executive order imposing steep new tariffs on  69 trading partners , with rates ranging from  10% to 50% , effective Aug 7. The move comes ahead of the long-anticipated tariff deadline and signals an aggressive stance on trade realignment. Canada:  35% duty on fentanyl-linked goods (up from 25%) Brazil:  50% on a broad range of products India:  25% amid stalled agriculture talks Taiwan:  20% Switzerland:  39% Other nations:  10%-41%, depending on trade balances and security considerations Canada Faces the Heaviest Blow Among Allies Canada, Washington’s second-largest trading partner, received the harshest hike outside of Brazil. The White House cited Ottawa’s “failure to cooperate” on fentanyl-related enforcement. Mexico, in contrast, secured a  90-day reprieve  after last-minute talks, avoiding a planned 30% duty on most goods compliant with USMCA rules of ...

As the US escalates tariffs under President Donald Trump,  China is quietly but strategically recalibrating its approach to Europe  — pivoting from legacy infrastructure takeovers to  greenfield investments  in batteries and EVs, particularly in  Hungary, Slovakia, Portugal, and Serbia . From Ports to Plants: China’s Shift Up the Value Chain Europe once saw billions flow into ports, utilities, and luxury assets like football clubs. But with that wave peaking in  2016-2018 , China has reoriented toward  higher-value sectors  such as electric vehicle (EV) batteries — and critically, toward  more politically welcoming territories . CALB’s $2.2B plant  in Sines, Portugal CATL’s battery factory  in Debrecen, Hungary BYD’s EV facility  and European HQ near Szeged, Hungary Volvo (Geely)-backed EV plant  in Košice, Slovakia Gotion-InoBat JV  in Slovakia These projects are  heavily incentivized  by local governments ...

Despite U.S. President Donald Trump turning up the heat with fresh 15%-20% tariff threats on the European Union ahead of his  Aug. 1 trade deadline , the stock market has barely flinched. 📉 April's "Liberation Day" meltdown?  Yes, we remember. Today’s vibe?  More of a shrug. So…  why are investors staying calm this time around?  Here are the  3 key reasons: 1. “TACO Trade” – Trump Always Chickens Out Yep, it’s actually a thing. Coined by a Financial Times columnist, the “TACO Trade” is based on a pattern: Trump talks tough, markets wobble, then he backs down. It happened in April when a market meltdown forced a 90-day tariff delay. Now, even with markets near record highs, many investors believe this is just  another hardball negotiation tactic  to speed up trade talks.   “The expectation is that tariffs will be lowered once negotiations are done,”  said Dennis DeBusschere of 22V Research. 2. The Courts Might Stop Him Anyway Back in May...

Trump’s tariff storm may be unsettling global markets — but for Wall Street’s biggest banks, it's proving to be a golden opportunity. JPMorgan Chase (JPM)  and  Citigroup (C)  just posted some of their  strongest trading quarters in years , fueled by surging market volatility from sweeping tariff announcements. 🔥Q2 Trading Blowout JPMorgan : Equity trading revenue : $3.25B – a  Q2 record , following an all-time high in Q1 Fixed income : $5.69B – crushing expectations Investment banking fees : +7% YoY (vs -14% expected) Citigroup : Stock trading revenue : $1.61B Fixed income trading : +20% to $4.27B Investment banking fees : +13% YoY to over $1B What the Execs Are Saying “Volatility is going to be a feature, not a bug, of the new world order.” —  Jane Fraser, CEO, Citigroup “The revenue growth is not coming for free. We are deploying a lot of capital, and we’re earning good returns.” —  Jeremy Barnum, CFO, JPMorgan Why It Matters for Investors Market s...

Markets are treading cautiously this Monday as U.S. President  Donald Trump’s tariff threats  against the  EU and Mexico  spark fresh uncertainty in global trade. Despite that, the sell-off remains mild — a sign that investors might see it as  more bark than bite ... for now. What Happened? Trump  announced a 30% tariff  on most imports from the  European Union and Mexico , starting  Aug 1 , unless trade talks progress. The  EU responded  by extending its suspension of countermeasures until early August — hoping diplomacy still wins. German finance officials, however, hinted at  retaliation  if the tariffs go ahead. Market Reaction Wall Street futures  slipped: S&P 500 Futures: -0.4% Nasdaq Futures: -0.4% EU Futures  showed more stress: EUROSTOXX 50: -0.6% DAX: -0.7% Asia took a lighter hit: MSCI Asia-Pacific (ex-Japan): -0.1% Nikkei: flat China Blue Chips: +0.2% (boosted by strong export data) 🧠 “The muted ...

Trade tensions are back — and this time, the EU is rallying support. The  European Union is stepping up diplomacy  with other U.S. trade targets like  Canada and Japan , aiming to form a united front against  President Trump’s proposed 30% tariffs  on EU exports. Key Dates: The EU  extended suspension  of its countermeasures  until Aug 1  to leave room for last-minute negotiations. If no deal is reached,  retaliatory tariffs on US goods worth €21B–€72B  are ready to roll. What Leaders Are Saying Ursula von der Leyen  (EU Commission): Prefers a “negotiated solution” but is “fully prepared” with countermeasures. Emmanuel Macron  (France): Urges faster rollout of the  anti-coercion tool  if talks collapse. Friedrich Merz  (Germany): Warns that 30% tariffs could hit German exporters “to the core.” Why It Matters for Investors Goldman Sachs estimates  EU GDP could fall 1.2% by 2026  if these tariffs are...

Gold prices ticked higher  on Friday after US President  Donald Trump unveiled a new wave of tariffs , including a  35% levy on Canadian imports  starting next month. However, gains were partially capped by a  stronger US dollar , which made bullion more expensive for foreign buyers. Key Market Moves: Spot Gold : +0.3% to  US$3,333.66/oz US Gold Futures : +0.6% to  US$3,345.10/oz Dollar Index : Headed for  0.9% weekly gain Trump’s announcement added to a  busy week of trade tensions , which also included: A  50% tariff  on  Brazilian goods A  50% tariff  on  copper imports Blanket  15–20% tariff threats  to other major partners Macro Backdrop: Jobless claims  hit a 7-week low — suggesting no rush for the  Fed  to cut rates. The  White House  took aim at Fed Chair  Jerome Powell , blaming him for "gross mismanagement." Fed Governor Waller  said the central bank is still...