A duty on imports used to raise revenue or shield domestic industry.
JLR has announced a voluntary redundancy programme as it seeks to save about 1.7 billion over two years amid global market pressures, tariffs and a cyber-attack fallout. The move could affect up to 4,000 jobs, mainly in management and white-collar roles, with no bailout planned. Government and unions are set for crunch talks.
At Evian-les-Bains, G7 leaders press Trump to help break deadlock over Ukraine while eyeing renewed sanctions on Russia and pursuing a broader Iran endgame. Zelenskyy attends sessions on Ukraine; Macron seeks consensus and European autonomy amid tensions over U.S. engagement and Iran diplomacy.
The US Supreme Court has rejected President Trump’s executive order that would have denied automatic citizenship to nearly all children born on US soil. In a 6-3 ruling written by Chief Justice John Roberts, the court has affirmed that the 14th Amendment grants citizenship to those born in the United States, while three justices dissented.
Central banks are maintaining cautious stances as inflation pressures persist. Officials have signalled that rate paths will be data-driven, with ongoing monitoring of energy prices and geopolitical risks. Market expectations hinge on inflation trends and the pace of growth.
The United States has declined to renew the US-Mexico-Canada Agreement in its current form and has begun annual reviews instead. Washington has said it will continue talks with Mexico and Canada to address trade deficits and "shortcomings." The pact remains in force and will expire in 2036 unless countries agree changes.
The United States has begun refunding tariffs after the Supreme Court ruled the broad global tariffs illegal. The refunds, totaling up to $81 billion this fiscal year, come as the administration plans a fresh set of duties. Deficits have widened again despite early gains, and the White House signals further measures are pending.
Legislation updating Russia sanctions has gained White House backing and is advancing in the Senate, with debate centring on tariffs for the five largest buyers of Russian oil and gas and potential waivers. The measure has broad support and could reshape U.S. pressure on Moscow, as Graham’s legacy guides the approach.
Canada braces for a renewed fight as Washington imposes 50% tariffs on a wide range of imports. Prime Minister Carney leads a united Team Canada in negotiations with Trump’s administration, while provinces warn of disrupted industries and rising uncertainty. Talks aim to avert full escalation before the August 19 deadline.
A coalition of 25 US states has filed suit in the US Court of International Trade to stop 10–12.5% tariffs that took effect in July on goods from about 60 trading partners. Plaintiffs say the administration has used forced‑labour claims to recreate broad levies courts have already struck down; the White House says the duties are lawful under Section 301.
Brazilian President Lula Da Silva is defending sovereignty as talks with the US fray over election interference fears. Milei’s rhetoric and Bolsonaros’ campaign moves intensify regional tensions ahead of Brazil’s October vote. Diplomatic spats include visa revocations and downgrades, amid a broader regional shift toward conservative leadership.
The Federal Reserve has kept its target range at 3.5%-3.75%, with three regional presidents dissenting in favor of a quarter-point rate increase. Chair Warsh has emphasised inflation as a priority while signalling uncertainty about future moves. Markets have priced in possible action later this year as data rolls in.
The Trump administration has refunded about $100 billion of pre-cut tariff revenue after a Supreme Court ruling invalidated much of the IEEPA-based tariff regime. Refunds are continuing as trade authorities review remaining claims and importers provide banking details, while lawsuits challenge new duties.
Canada and the United States have resumed intensive talks to avert steep US tariffs that could take effect this week. Ottawa has offered concessions, including removing a retaliatory auto tariff, while Washington has pressed provinces to lift bans on US alcohol and pushed demands on market access and content rules for autos. Negotiators are still finalising details.
Walmart has announced it is directing tariff refunds toward price cuts and improved customer experiences. US comparable sales have slowed, though the company reports a continued lift from rollbacks and investments in groceries and essentials. Analysts warn profits may face headwinds from fuel costs and automation spending amid uneven consumer demand.
U.S. markets edge lower after several sessions of gains as investors await the PCE inflation update. The latest data show persistent inflation and higher government borrowing costs, with bond yields climbing and stock indices uneven.
The administration has announced a temporary, tariff-free import surge of up to 300,000 metric tons of lean ground beef to ease prices amid a shrinking U.S. cattle herd. Congress and ranchers are watching closely as imports blend with domestic meat, potentially reshaping supply and labeling rules.
Trump has threatened 50% tariffs on Canadian cars, trucks, auto parts and steel, arguing a US deficit is unsustainable. Ottawa says talks have collapsed; Canada plans retaliatory duties. The White House has not commented yet.
President Donald Trump has signed an executive order directing the Interior Department to change the U.S. federal name for Lake Ontario to "Lake America" and has said the change is effective immediately. The move comes as Washington and Ottawa have imposed 50% tariffs on billions of dollars of each other's goods and Canadian leaders have rejected the renaming.
Gap has announced Michael Francis will become chief executive officer of Old Navy on November 2, replacing Haio Barbeito. Francis, a 26-year veteran of Target and 10 years at Walmart, currently serves as chief customer officer and head of marketing. Gap reports a mixed fiscal second quarter, with earnings beating expectations but revenue lagging, while Old Navy faces a sales slowdown and is the focus of leadership change.
Trump has publicly urged the Federal Reserve to slash interest rates, linking them to U.S. credit strength. He threatens to stop trading with deficit-bearing countries. The comments follow a stronger-than-expected jobs report and come as the Fed maintains its policy stance.
The G20 finance talks have focused on China and the broader impact of U.S. tariffs, with officials arguing that non-market economies are shaping global growth. Treasury Secretary Bessent has warned that tariffs will redirect Chinese goods to other markets, while other leaders call for balance and guardrails on AI regulation.