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

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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?

Justicia Shipena Debmarine Namibia plans to request a blanket exemption from the US government on rough and polished diamonds. CEO Willy Mertens said the US does not produce diamonds and should not impose punitive tariffs on the industry. “We are going to try and seek a blanket exemption from the US government on both rough and polished diamonds,” he said. He was speaking on Wednesday at the 2025 Mining Expo and Conference in Windhoek. The event, which runs until today, features 198 exhibitors and 335 booths,the largest in its 12-year history. The conference is held under the theme, “Mining for Namibia’s Future: Job Creation, Local Empowerment, and Economic Transformation.”  Mertens said the 15% tariff on polished diamonds entering the US is making Namibian diamonds more expensive globally.  He noted that diamonds exported as rough and processed in other countries face even higher charges. “For a Namibian diamond processed and cut and polished in Namibia, that’s going to be 15% more expensive. For a Namibian diamond that goes out as rough into India, it’s going to be 25% more expensive,” he said. He described the tariffs as a source of instability. “The uncertainty surrounding tariffs is creating instability. Now you don’t know, am I going to pay 15% extra? Or I’m going to pay 30% extra, or is it going to be 20%?” Mertens explained. This follows an executive order by former US President Donald Trump titled “Further Modifying the Reciprocal Tariff Rates.”  The order reduced tariffs on goods from several African countries, including Namibia, from 21% to 15%. In June, deputy minister of industrialisation and trade Gaudentia Kröhne warned that the tariff reduction could hurt trade momentum and threaten economic opportunities under the African Growth and Opportunity Act (AGOA). By mid-2023, Debmarine’s contributions to the state dropped from nearly N$6 billion to just over N$2 billion.  The decline was linked to falling global diamond prices and competition from lab-grown diamonds. In April, Simonis Storm economists said the tariffs were part of a broader protectionist trend that could trigger inflation in Namibia.  They warned that tariffs on key exports such as diamonds, uranium, and fish could harm competitiveness in the US market, reduce export volumes, and lower foreign exchange earnings. However, with the current  tariff set at 15%, some economists believe the impact on Namibia’s export sector may be limited.

Selon les propos d’un porte-parole de la Commission européenne rapportés par BFM TV, Washington et Bruxelles pourraient conclure un accord préliminaire sur les droits de douane. Cet accord imposerait ...

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...

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.

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...

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

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

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