#tariffs

#tariffs

The World Bank's recent report argues that government intervention, when done right, can actually be an essential ingredient of economic success, reversing decades of opposition to industrial policy.

Low- and middle-income families and small businesses accounted for well over half of the U.S. population, yet they paid a disproportionate share of their incomes to the government due to IEEPA tariffs.

With the Supreme Court potentially poised to invalidate recent tariffs, organizations face a confusing scenario. Having clear visibility into contract terms - such as price adjustments and renegotiation provisions - is essential to navigating this volatility. Come join us on at 1 p.m. ET on Jan. 27 for this CLE-approved webinar, where we'll discuss the current state of the tariff conundrum and explore strategies for achieving contract visibility with the latest AI innovations.

The steep hikes by Mexico have devastated several Indian industries already reeling under crushing US tariffs. Kolkata, India Pankaj Chadha has been running a steel manufacturing unit in Mumbai, India's financial capital, for the past four decades. The 65-year-old told Al Jazeera that his company exports products mostly to the United States and Mexico, where they are used in various industries.

For the European Commission president, Ursula von der Leyen, the EU's trade pact with India was the mother of all deals. Seen from the other end of the telescope, it looked like the mouse of all deals, with just 4bn (3.5bn) in tariff reductions a rounding error in a 180bn trading relationship. But that misses the point: this is about economic heavyweights resetting the terms of their cooperation because of Donald Trump's use of tariffs as a tool of economic and political compulsion.

Trump previously said he was implementing the new baseline duty under Section 122 of the Trade Act of 1974, which grants the president unilateral ability to impose tariffs. But the untested legal provision puts a 150-day limit on how long the duties can remain in place. Congress would need to approve any extension. The Supreme Court, in a 6-3 decision handed down earlier Friday, ruled that Trump's use of a decades-old federal emergency-powers law to impose his so-called "reciprocal" tariffs was unlawful.

WASHINGTON (AP) President Donald Trump said Monday he is increasing tariffs on South Korean goods because the country's national assembly has yet to approve the trade framework announced last year. Trump said on social media that import taxes would be raised on autos, lumber and pharmaceutical drugs from South Korea with the rate on other goods going from 15% to 25%.

What they're saying: In a post on Truth Social, Trump said that he would be raising the 10% global tariff to the "fully allowed, and legally tested, 15% level." The big picture: In a 6-3 decision, the Supreme Court said on Friday that Trump could not implement tariffs under the International Emergency Economic Powers Act. Hours later, the administration said it would reinstate 10% tariffs on all foreign goods under a provision of a separate trade law, Section 122.