Donald Trump’s decisions to suspend military aid to Ukraine and impose tariffs on the US’s top trading partners have reverberated across the globe, as Europe seeks to shore up Kyiv and China, Canada and Mexico respond to the new import duties.
Beiersdorf anticipates a potential 50 basis point hit to its business from U.S. import tariffs on goods from Mexico, Canada and Europe, its Chief Financial Officer Astrid Hermann said in an annual results analyst call.
President Trump said tariffs on Mexico and Canada will go into effect on March 4. He added that tariffs on China will see a 10% hike then, too. In addition, the President threatened to slap Europe with a 25% tariff.
Europe’s beleaguered automakers are also affected by high tariffs on imports from Mexico and Canada. Shares in Volkswagen, Mercedes-Benz and BMW all dropped early Tuesday, echoing the declines in U.S.
The expected bid by the United States and Mexico to co-host the 2031 Women’s World Cup can face only a rival bid from Africa, with FIFA on Wednesday excluding Europe from the contest.
Pemex is exploring new oil export markets in Asia and Europe after the US imposed a 25% tariff on Mexican crude.
European shares joined a global market selloff on Tuesday after U.S. tariffs on Canada, Mexico and China took effect, raising concerns that similar levies could be imposed on Europe.
A look at the day ahead in European and global markets from Kevin Buckland Europe wakes up to new U.S. tariffs on Canada, Mexico and China, bringing into starker relief Donald Trump's threat of levies for the EU next.
The dollar jumped on Thursday and was poised for its biggest daily percentage gain in more than two months as U.S. President Donald Trump's latest tariff comments overshadowed signs of slower economic growth.
White House negotiators are talking with Europe over tariffs on Aluminum and steel. And postponed tariffs against Canada and Mexico could expire as soon as next week. Officials at the Port of Mobile are watching all this activity.
Mexican state company Pemex is in talks with potential buyers in Asia, including China, and Europe, as it seeks alternative markets for its crude, a senior Mexican government official said.