Brussels negotiators hope that by agreeing to a 10% US tariff on all European Union exports, they can avoid higher tariffs on cars, medicines, and electronics, according to a report in German newspaper Handelsblatt on Monday.

Here is what you need to know about Canada’s current trading relationship with China, the dispute the two countries are embroiled in, how the relationship could be repaired and what Canada stands to gain from expanding ties with China. China is Canada’s second largest trading partner after the U.S.

People couldn’t import. Some people literally did not have the money to pay the import tariff.” The direct assessment by Marcus Noland of the Peterson Institute for International Economics conveys the extent of harm caused by the US’s “Liberation Day” tariff increase this April a move that sent shockwaves across global trade chains and delivery

Canada and China have reached a diplomatic detente, after years of testy relations and with President Trump targeting both countries with hefty tariffs. Prime Minister Mark Carney said a call he held with Chinese Premier Li Qiang marks the start of “recalibrating the relationship with China.

The United States’ historic economic allies will likely try to avoid direct conflict while also hoping to push the U.S. president to remove tariffs and promote a ceasefire in the Middle East.

Beside the trade war, longer-term trends are influencing the market. Per-capita wine consumption fell more than 50% between the early 1970s and 2022.

China, Mexico, the European Union, Japan, Canada and many airlines and aerospace companies worldwide urged the Trump administration not to impose new national security tariffs on imported commercial planes and parts,

What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%.

While Donald Trump's wide-ranging taxes on imports face scrutiny in court, he has touted a new "deal" with China that will see tariffs against the country remain at historic levels. Here's what it will mean for you.

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