US import costs of steel and aluminium, used in everything from baseball bats to cars and aircraft parts, are expected to rise by more than $100bn after Donald Trump raised tariffs on the metals to 50 per cent this week.

Another is that tariffs on “intermediate” goods, such as raw materials used to make other things, affect consumer prices indirectly. Even service industries depend on imported goods—think of lawyers using smartphones or computers made abroad.

Marketplace has been following Lei’s business since 2018, just before President Trump imposed tariffs in his first term. Not only did his business survive the extra levies, but Lei said the percentage of his sales to the U.S. went up from 50% in 2018 to 70% at the start of this year.

President Donald Trump and his Chinese counterpart, Xi Jinping, have spoken amid stalled negotiations between both countries over tariffs that have roiled global trade

President Donald Trump is scheduled on Thursday to host Germany’s newly elected chancellor, Friedrich Merz, in the Oval Office.

President Donald Trump plans to welcome German Chancellor Friedrich Merz to the White House on Thursday for a meeting that is certain to touch upon Trump’s tariffs policy, which has a major impact on German exports.

President Trump had just welcomed the German chancellor to the White House when he began lashing out at Elon Musk. The ensuing storm eclipsed Friedrich Merz’s inaugural visit. While he lambasted the tech billionaire,

The world’s richest man said the world’s most powerful man will drag the United States into recession during the second half of 2025. The comment, which Elon Musk made about President Donald Trump’s economic policies,

President Donald Trump and billionaire Elon Musk are showing no signs of reconciling on Friday, but Republicans are increasingly urging them to settle their dispute