Here's when a top economist says the US will see the most damage from Trump's tariffs ‘Not Trump’s dumping ground’: Outrage over arrival of foreign US deportees in tiny African nation CBS Cancels 'Late Show,' Ending Stephen Colbert's Run After Decades On Air

President Donald Trump is readying plans for industry-specific tariffs to kick in alongside his country-by-country duties in two weeks, ramping up his push to reshape the US’s standing in the global trading system by penalizing purchases from abroad.

U.S. President Donald Trump may have thought that pressuring Brazil with higher tariffs would help his ally, the country's former President Jair Bolsonaro, but the move apparently backfired. Last week,

European exporters say a 30% U.S. import tariff would drive prices unsustainably high and hammer their sales. While some manufacturers are shifting their supply chains stateside or elsewhere, not all businesses have the same flexibility — and can't easily replace the developed U.

The average effective tariff rate has been around 16%, Morgan Stanley Wealth Management calculates, 5 times higher than the past average of 3%.

The S&P 500 and Nasdaq Composite ended little changed on Friday, overcoming a brief dip triggered by a Financial Times report indicating U.S. President Donald Trump was pushing for steep new tariffs on European Union products.

The Trump administration is imposing a substantial tariff on a raw material that is critical for electric vehicle batteries, which could significantly raise the cost of building EVs in the United States.

President Trump on Wednesday said he would be sending letters to over 150 countries as he plans a barrage of duties to take effect Aug. 1, including levies on pharmaceutical imports and semiconductors.

By Deborah Kyvrikosaios and Lefteris Papadimas VARVASAINA (Reuters) -Greek olive oil producer Konstantinos Papadopoulos wasted little time when the threat of U.S. tariffs was floated by President Donald Trump in the spring.