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Tag: Economic Impact

Swiss Watch Industry Grapples with New US Tariffs

Swiss Watch Industry Grapples with New US Tariffs

Swiss Watch Industry Grapples with New US Tariffs The Swiss watch industry is facing a significant challenge as new tariffs imposed by the US administration, led by President Trump, came into effect this week. Despite last-minute diplomatic efforts by Swiss leader Karin Keller-Sutter, a 39 percent levy is now applied to all Swiss watch exports, including luxury brands like Rolex, Omega, and Patek Philippe, entering the United States. This development is poised to severely impact Swiss watchmakers, as the US…

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Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React

Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React

Trump’s Latest Tariffs Unleash Global Economic Scramble, Over 60 Nations React More than 60 countries worldwide are urgently responding to the latest wave of US tariffs, which came into force on Thursday following an announcement by President Donald Trump. These sweeping duties, ranging from 10% to 41%, are upending a decades-old global trading system, with industry representatives warning of significant job losses across both developed and developing economies. Leaders globally are scrambling to implement contingencies as Trump’s tariff threats became…

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Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns

Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns

Trump’s Landmark Trade Deals Reshape Global Economy Amid Growth Concerns President Donald Trump’s protectionist trade agenda is rapidly reshaping the global economic landscape, with the United States recently securing significant framework agreements with the European Union and Japan. These deals see major trading partners accepting 15% U.S. tariffs on most goods, fulfilling Trump’s long-held belief in protectionism and aiming to boost American economic interests. The EU agreement, announced Sunday, includes commitments for the bloc to purchase $750 billion in U.S….

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New Tariff Era: Trump Solidifies 15-20% Global Trade Tax

New Tariff Era: Trump Solidifies 15-20% Global Trade Tax

New Tariff Era: Trump Solidifies 15-20% Global Trade Tax A significant shift in global economic policy is underway as President Donald Trump entrenches tariffs at levels previously deemed unimaginable. The administration has declared a new baseline tariff rate for the world, expected to settle between 15% and 20%. This announcement follows closely on the heels of a landmark agreement reached Sunday with the European Union, which will see a 15% import tax on products entering the U.S. from the bloc….

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US Automakers Voice Concerns Over Trump’s Japan Tariff Deal

US Automakers Voice Concerns Over Trump’s Japan Tariff Deal

US Automakers Voice Concerns Over Trump’s Japan Tariff Deal U.S. automakers are expressing significant apprehension regarding a recent agreement by then-President Donald Trump to impose a 15% tariff on Japanese vehicles. They argue that this deal places them at a competitive disadvantage, citing steeper import taxes they face on steel, aluminum, and parts compared to their international counterparts. Matt Blunt, president of the American Automotive Policy Council, representing major U.S. automakers General Motors, Ford, and Stellantis, stated that the deal…

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EU Warns US Tariffs Could ‘Wipe Out’ Trade as August 1 Deadline Looms

EU Warns US Tariffs Could ‘Wipe Out’ Trade as August 1 Deadline Looms

EU Warns US Tariffs Could ‘Wipe Out’ Trade as August 1 Deadline Looms The European Union has issued a stark warning that its extensive trade relationship with the United States could be “effectively wiped out” if Washington proceeds with its threat to impose a 30% tariff on goods imported from the bloc. EU Trade Commissioner Maroš Šefčovič stated that a tariff at or above 30% would practically prohibit trade, making it “almost impossible” for current trade levels to continue if…

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Trump’s Latest Tariff Blitz Rattles Global Markets, Copper Prices Plummet

Trump’s Latest Tariff Blitz Rattles Global Markets, Copper Prices Plummet

Trump’s Latest Tariff Blitz Rattles Global Markets, Copper Prices Plummet President Trump has intensified his trade offensive, announcing a new wave of tariffs targeting at least seven countries and key commodities. The aggressive move includes a significant 50% tariff on US copper imports, mirroring duties already on aluminum and steel, and a potential 200% tariff on pharmaceuticals. The immediate market reaction was swift, with COMEX copper futures (HG=F) falling over 3% on Wednesday as traders absorbed the implications of the…

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Mexican Firm Reports Business Surge Thanks to Trump Tariffs

Mexican Firm Reports Business Surge Thanks to Trump Tariffs

Mexican Firm Reports Business Surge Thanks to Trump Tariffs A small manufacturing company operating in northern Mexico is experiencing a significant boost in its business, directly attributing its recent success to President Trump’s implemented tariffs. Previously facing intense competition from Chinese imports, the company has found new opportunities and increased market share in the wake of the tariff policies. This case highlights an unexpected positive ripple effect of the renewed tariff strategy, demonstrating how specific businesses can benefit from shifts…

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International LGBTQ+ Travelers Shun U.S. Amid Policy Concerns, Impacting Tourism

International LGBTQ+ Travelers Shun U.S. Amid Policy Concerns, Impacting Tourism

International LGBTQ+ Travelers Shun U.S. Amid Policy Concerns, Impacting Tourism International LGBTQ+ travelers are increasingly diverting their vacation budgets away from the United States, citing concerns over a contentious political climate marked by anti-LGBTQ+ rhetoric and ongoing trade tensions. This significant shift is already impacting the U.S. tourism sector, with recent data showing a notable decline in foreign visitors. One prominent example is Canadian citizen Robert Sharp, who cancelled a planned trip to Provincetown, Massachusetts, and other U.S. destinations, opting…

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