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Ford CEO Jim Farley will travel to Washington on Feb. 12 to warn Congress that the 25% tariffs President Donald Trump has proposed on Canada and Mexico would “blow a hole” in the auto industry.

Mexico will consult with the U.S. to explain why it considers the steel and aluminum tariffs ordered by President Donald Trump as “not justified,” said Economy Minister Marcelo Ebrard.

U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Feb. 11, adding that they will trigger tough countermeasures.

President Donald Trump on Feb. 10 removed the exceptions and exemptions from his 2018 tariffs on steel, meaning that all steel imports will be taxed at a minimum of 25%. 

Expected inflation five years ahead rose to 3% last month, the highest since May 2024, according to results of the New York Fed’s Survey of Consumer Expectations published Feb. 10.

China’s 10% additional tariff on vehicles with engines  larger than 2.5 liters imported from the U.S. took effect Feb. 10.

TAIPEI, Taiwan — China’s tit-for-tat duties on U.S. imports took effect Feb. 10, hours after President Donald Trump announced that he wants to slap new duties on all steel and aluminum imports.

WASHINGTON — President Donald Trump said he will announce Feb. 10 that the U.S. will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico.

President Donald Trump said he would maintain the duty-free exception for low-value packages coming from China until “adequate systems are in place to fully and expediently process and collect tariff revenue.” 

The transportation sector saw merger and acquisition activity gain momentum as market conditions stabilized in the second half of 2024, according to experts.