Overview

• President Trump has implemented tariffs of up to 145% on Chinese imports and a 10% base tariff on most other nations, with limited exemptions now granted for U.S. auto manufacturers.
• Amazon has canceled many direct imports from China, pressed suppliers for price cuts, and absorbed some tariff costs, while shelving plans to label products with tariff-related price details after White House criticism.
• China, refusing to negotiate tariff reductions, is rallying international partners to oppose U.S. trade policies, emphasizing its stance as a defender of free trade.
• German automakers, including Mercedes-Benz and Volkswagen, warn of multi-billion dollar profit impacts due to U.S. tariffs, prompting discussions on expanding U.S.-based production.
• Economists and the Federal Reserve forecast slowed or negative U.S. GDP growth, with fears of a recession intensifying as markets experience heightened volatility.