This past fortnight has seen the US Supreme Court hear arguments around the legality of President Donald Trump's "liberation day" tariffs applied to most countries around the world. Whilst the US president had earlier claimed his trade tariffs will not affect US businesses, workers and consumers,...
Wine has become a key issue in ongoing trade negotiations between Australia and India as the two nations work to conclude the second phase of the trade pact by the end of the year. Under the interim pact, tariffs on Australian wine priced above AU$5 (HK$25.21)...
In addition to the US-China update, the Trump administration has announced the following changes with regards to ongoing tariff discussions: Canada The U.S. reignited trade tensions with Canada by imposing a new 10% tariff on Canadian imports, despite the existing USMCA agreement. Currently, there is neither a...
The Trump administration has announced that as of the beginning of October, it will start assessing and discussing the following tariffs: 100% on pharmaceuticals; 50% tariff on kitchen cabinets and bathroom vanities; 30% on upholstered furniture; and 25% tariff on heavy trucks. At this point in...
From the 1st of September cork will be exempt from the 15% tariff applied on EU goods exported to the U.S. As there is no domestic cork industry in the U.S. it is considered an "unavailable natural product", so will be able to be exported to...
The impact of the 50% tariff on all Indian products, as announced by the U.S., has the potential to substantially impact India's economy (if it remains unchanged by Trump and is upheld by the Supreme Court). The U.S. is India's largest export market, accounting for 18%...
U.S. exports of liquor and wine to Canada have plummeted by more than 60% in the first half of the year as Canadians boycott US alcohol. Shipments of popular US-made whiskeys, rums, gins and other liquors through June to Canadian provinces was around $43.4 million, representing...
A U.S. court has ruled that most of Trump's tariffs are illegal, undercutting the president's use of the levies as a key international economic policy tool. These tariffs - enacted using the International Emergency Economic Powers Act of 1977 (IEEPA) - are currently allowed to remain in place...
Following months of frontloading, U.S. retailers are pulling back on ordering for the rest of the year due to a slowing U.S. economy and higher tariff costs. Whilst volumes from Asia to the U.S. hit a six-month high in July, ahead of August tariff deadlines,...
Whilst the EU was hopeful that wine and spirits would be excluded from the 15% tariff outlined by Trump, it has now been confirmed that these products will also be subject to the same rate. With the US the largest market for many European wine and...