The U.S. Supreme Court is set to hear arguments on whether President Donald Trump exceeded his authority by imposing sweeping tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). Lower courts have ruled that IEEPA does not authorize such broad trade actions without clear congressional approval. Trump’s administration argues otherwise, saying the statute empowers the president to “regulate importation” during declared emergencies, which they interpret to include the power to impose tariffs.
The U.S. trade deficit surged to $78.3 billion in July—its highest level in four months—driven by a sharp spike in imports ahead of expected tariff increases. The Commerce Department reported Thursday that the gap jumped 32.5% from June’s revised $59.1 billion, marking the steepest monthly deterioration in nearly a year.
European postal services are suspending shipments to the United States as President Donald Trump's tariff overhaul dismantles a long-standing import duty exemption. The disruption centers on the expiration of the "de minimis" exemption, which allowed packages under $800 to enter the U.S. duty-free. With the exemption set to expire next Friday, confusion over the new rules has already led postal carriers across Europe to pause U.S.-bound shipments.
Radical leftist Brazilian President Luiz Inácio Lula da Silva escalated tensions with the United States on Thursday, accusing President Donald Trump of lying about Brazil’s trade record and vowing that his country would not “bow down” to Washington. Lula’s remarks came during an official event in Recife, hours after Trump criticized Brazil’s high tariffs and the ongoing prosecution of conservative former President Jair Bolsonaro.
Ontario Premier Doug Ford sharply criticized President Donald Trump during a CNN interview, accusing him of deliberately harming American workers through aggressive tariff policies. Ford cited job losses, rising costs in the auto industry, and strained U.S.-Canada trade relations as signs of failed economic leadership.
President Donald Trump’s full suite of “Liberation Day” tariffs will take effect next week, raising the cost of everything from apparel to automobiles and adding pressure on households already battling inflation. Analysts project the tariffs could increase annual expenses for the average U.S. family by up to $2,400.
President Donald Trump's sweeping new tariff policy—dubbed “Liberation Day” tariffs—will take effect next week, applying new import duties on goods arriving by sea starting October 5. The executive order targets more than 70 nations, with tariff rates ranging from 10% to 41%, depending on economic cooperation and diplomatic standing with the U.S.
President Donald Trump has raised tariffs on South African goods to 30%, delivering a major economic blow despite a recent Oval Office visit from President Cyril Ramaphosa. The White House announced the move Thursday through an executive order targeting nations that failed to negotiate favorable trade deals with the United States.
