Canada will help domestically based auto makers by waiving some of the counter-measures it has imposed on U.S. imports, the federal finance ministry said on Tuesday. “The remission granted to these co...

U.S. president Donald Trump says he's considering exempting auto parts from wide-ranging tariffs — at least temporarily.

via The Hill News — A federal trade court agreed Thursday that President Trump lawfully ended a tariff exemption for low-cost goods last year. Trump did so by invoking the same 1970s-era emergency statute that the Supreme Court ruled he could not use to authorize his sweeping “Liberation Day” tariffs. The U.S. Court of International Trade said ending a tariff exemption is legally…

The trade group says new tariffs would deepen sales declines, threaten jobs and invite retaliation abroad

The trade group says new tariffs would deepen sales declines, threaten jobs and invite retaliation abroad

Coalition warns new trade barriers would squeeze restaurants, bars and producers already facing weak demand

Coalition warns new trade barriers would squeeze restaurants, bars and producers already facing weak demand

Wine and spirits industry leaders welcome move as key to maintaining quality, tradition, and stable costs amid economic pressures

Biggest #trends of the day for 'supreme court' 'tariff exemption' and '1 million' https://www.newsmason.com/?query=%22supreme%20court%22 https://www.newsmason.com/?query=%22tariff%20exemption%22 https://www.newsmason.com/?query=%221%20million%22 #supremecourt #tariffexemption #1million

Already unhappy American shoppers will now see much higher prices on a lot of formerly low-cost goods, due to the expiration on Friday of a long-time tariff...

FTSE 100 giants GSK and AstraZeneca appear to be exempt from higher-rate Trump tariffs according to the City.

News from earlier is here: * Trump slaps a 25% tariff on all cars not made in the USA * The USD has risen after Trump's announcement of 25% tariff on all autos not made in USA * Recap of Trump's 25% auto tariff on foreign-made cars starting April 2nd Now hearing that ther will be a 1 month exemption for auto parts imports, through to May 3. Tariff ping pong news continues This article was written by Eamonn Sheridan at www.forexlive.com.

Tech stocks power Wall Street's gains amid hopes of tariff exemption  Reuters

(Reuters) -U.S. stock index futures rose on Thursday, pointing to fresh gains on Wall Street, on signs that major technology companies will avoid President Donald Trump’s latest tariffs on chip imports. Apple (NASDAQ:AAPL)’s shares climbed 3.2% in premarket trading, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so. Shares of chipmakers including Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD) and Intel (NASDAQ:INTC) rose in the range of 1.2% to 2.5%. At 06:16 a.m. ET, S&P 500 E-minis were up 53.75 points, or 0.84%, Nasdaq 100 E-minis were up 197 points, or 0.84%, and Dow E-minis were up 274 points, or 0.62%. The president’s higher tariffs of 10% to 50% on dozens of trading partners took effect on Thursday. Still, expectations of policy easing by the Federal Reserve - sparked by some disappointing economic data, particularly the July payrolls report - as well as optimism around AI spending by companies have kept markets near record highs. Following the latest jobs data, traders have almost fully priced in a 25 basis point rate cut in September and expect at least two rate cuts this year, according to the CME Group’s (NASDAQ:CME) FedWatch tool. Weekly jobless claims data, due at 08:30 a.m. ET, could offer fresh clues on the health of the labor market and shift rate cut expectations. Investors are also watching for Trump’s interim replacement for Fed Governor Adriana Kugler in the coming days, amid expectations that the nominee would be a policy dove who will likely favor bringing interest rates lower. Kugler’s resignation leaves an opening at the seven-member Fed Board led by Chair Jerome Powell, who Trump has repeatedly criticized for not cutting borrowing costs. Powell’s tenure is due to end in May 2025. Second-quarter earnings barrage continued at full throttle. DoorDash (NASDAQ:DASH) topped revenue estimates and forecasted a stronger-than-expected gross merchandise value for the current quarter. Its shares jumped 8.6%. Lyft (NASDAQ:LYFT)’s quarterly revenue miss took its stock down 2.3%, even as the ride-hailing firm gave an upbeat gross bookings forecast for the September quarter. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is INTC one of them?

By David Lawder and Lisa Baertlein WASHINGTON/LOS ANGELES (Reuters) -The Trump administration ended U.S. duty-free access for low-value shipments from China and Hong Kong on Friday, removing the "de minimis" exemptions availed of by Shein, Temu and other e-commerce firms as well as traffickers of fentanyl and other illicit goods. The action restores an executive order from President Donald Trump in February that was quickly suspended due to a lack of screening procedures for sub-$800 shipments that sparked chaos at airports and caused millions of packages to pile up. U.S. Customs and Border Protection has "a massive task at hand" but is ready to handle the enforcement and collection of Trump’s tariffs on small Chinese shipments, a spokesperson for the agency said. "We are prepared and equipped to carry out enhanced package screening and enforce orders effectively as outlined" in Trump’s executive order ending de minimis treatment for China, the spokesperson added. The new procedures should not affect passenger wait times at airports and ports of entry, the spokesperson said. The packages are handled in the cargo section of airports, even when they arrive in the bellies of passenger planes. Under CBP’s latest guidance, shipments from China and Hong Kong regardless of size will now be subject to Trump’s new tariffs of 145% plus any prior duties, except for products such as smartphones which were excluded last month. These will largely be handled by express shippers such as FedEx (NYSE:FDX), United Parcel Service (NYSE:UPS) or DHL, which have their own cargo handling facilities. Items valued at up to $800 and sent from China via postal services are treated differently. They are now subject to a tax of 120% of the package’s value or a flat fee of $100 per package - an amount that rises to $200 in June. COLLECTIONS AT TAKE-OFF The U.S. Postal Service said it would not be involved in any duty collections. Instead, a USPS spokesperson said, airlines and vessel operators would need to work with shippers and Chinese postal authorities to pay the import taxes and show proof before the goods are transported out of China or Hong Kong. Although de minimis is a Latin term referring to matters of little importance, low-value shipments from China to the U.S. reached an estimated $5.1 billion in 2024, according to U.S. Census Bureau data. That made it the seventh-largest U.S. import category from China, behind video game consoles, but just ahead of computer monitors. Shippers were bracing for more package chaos, and some questioned whether airlines were prepared to handle duty collection from China Post and Hongkong Post. "We have the same worry about bottlenecks," said Kate Muth, executive director of the International Mailers Advisory Group (IMAG), whose members include Amazon.com (NASDAQ:AMZN), eBay (NASDAQ:EBAY) and divisions of United Parcel Service, FedEx and DHL. "I don’t think we’re ready for the change because we’re still awaiting some clarification around the rules," including how to define Chinese origin for goods that are shipped from other countries, Muth said. FORMAL ENTRY SHIFT A late change in the CBP’s guidance took away a major complication for shippers, but created a potential new hurdle to enforcement as CBP temporarily suspended a rule that would have required formal customs entry for all shipments valued at over $250 containing goods that are also subject to punitive tariffs. Formal customs entry, normally associated with larger, containerized cargo, requires full 10-digit tariff codes for all items, advance electronic transmission of entry data and a bond to cover for customs liability. And it would have applied to many other countries now subject to U.S. tariffs imposed by Trump, creating a potential new crush of administrative paperwork for shippers. Instead, the suspension allows the use of informal entry procedures for shipments from China and Hong Kong valued at up to $800 and up to $2,500 from elsewhere, requiring no tariff codes and a less detailed contents description. Lori Wallach, director of Rethink Trade, which has advocated an end to the de minimis exemption, said the use of informal entry would make it harder to screen packages. Trump ended the de minimis exemption for China largely because it was being used for largely unscreened low-value shipments containing fentanyl precursor chemicals into the U.S., a phenomenon documented in a Reuters series about fentanyl.

Toyota and other Asia auto stocks surge after Trump says he is considering a tariff exemption  markets.businessinsider.com

Wall Street week ahead: Tech stocks in focus after tariff exemption on consumer electronics, investors eye economic data  Mint

Dow Jones Futures: Will Apple, Techs Rally On Big Trump Tariff Exemption? Palantir Leads 7 Stocks To Watch  Investor's Business Daily

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