Nigerians are bracing for yet another round of electricity tariff increases, even as the nation continues to struggle with persistent blackouts, crumbling infrastructure, and a power supply that barely meets a fraction of its demand. The Nigerian Electricity Regulatory Commission has signalled it is reviewing electricity tariffs across all customer bands, raising fears among millions…
White House senior counselor for trade and manufacturing Peter Navarro said Sunday that President Donald Trump’s tariffs are not permanent as he sought to undercut a ruling from a federal court that dealt a major blow to the administration’s trade policy. On Friday night, the U.S. Court of Appeals for the Federal Circuit ruled that most of…
A US appeals court on Friday ruled that many of President Donald Trump’s tariffs, which have upended global trade, were illegal — but allowed them to remain in place for now, giving him time to take the fight to the Supreme Court. The 7-4 ruling by the US Court of Appeals for the Federal Circuit…
Japanese auto giant Toyota on Thursday cut its annual net profit forecast to 2.66 trillion yen ($18.06 billion) owing to the impact of US tariffs. “Due to the impact of US tariffs and other factors, actual results showed decreased operating income, and the forecast has been revised downward,” the company said in a statement. Its…
U.S. President Donald Trump on Monday threatened to significantly increase tariffs on Indian goods, accusing New Delhi of profiting from large-scale Russian oil imports amid the ongoing war in Ukraine. The warning has sparked swift condemnation from India, which called the move unjustified and pledged to protect its national interests. In a post shared on…
US President Donald Trump agreed Tuesday to reduce threatened tariffs on the Philippines, but only by one percentage point, after what he termed a successful meeting with his counterpart Ferdinand Marcos. Welcoming Marcos to the White House, Trump called him a “very tough negotiator” and said: “We’re very close to finishing a trade deal —…
At the start of the year, companies built up their inventories to make sure they had ordered goods before Trump’s tariff plan took effect, which would cause import prices to shoot up. Those stockpiles had also helped keep price hikes for consumers at bay. But now, three months on from the first tariff announcements in…
“We are just going to have to see how that plays out. It is still a little early to see what the total reaction is to that, but I do not see any drivers for the dollar to have some significant rise and it does look like emerging markets may be a modest beneficiary of…
President Donald Trump announced tariffs of 25 percent on Japan and South Korea on Monday, ramping up pressure on the two key US allies and a dozen other economies to reach trade deals with Washington. Trump issued similar letters to a dozen other trading partners including Indonesia, Bangladesh, Thailand, South Africa and Malaysia, saying he…
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Scott Bessent has warned that US tariffs on imports from some countries will “boomerang” back to the steep levels set by Donald Trump in April unless they quickly offer concessions and strike deals…
