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    What consumers can expect from import taxes as the US sets new tariff rates

    American businesses and consumers faced a new landscape on Friday as the contours of Donald Trump’s foreign trade agenda began to solidify, yet clarity on the impact of new import taxes remained elusive.Late on Thursday, Donald Trump ordered fresh tariff rates affecting 66 countries, the European Union, Taiwan, and the Falkland Islands. Among these were a 40 per cent tariff on imports from Laos, 39 per cent on goods from Switzerland, and 30 per cent on South African products.Conversely, some trade partners, such as Cambodia, saw tax rates on their US-bound exports reduced from previously threatened levels. The start date for all tariffs was also postponed by Donald Trump, shifting from Friday to August 7.Wendong Zhang, an associate professor at Cornell University’s Dyson School of Applied Economics and Management, suggested that US consumers might feel some relief. He noted that “many were lower than Trump initially threatened,” citing Indonesia’s rate, which dropped to 19 per cent from the 32 per cent announced by Donald Trump last spring.But tariffs are a tax, and U.S. consumers are likely to foot at least part of that bill.“Prices are still going up, they just won’t go up as much as in the worst-case scenario,” Zhang said.Companies are dealing with tariffs in various ways. Many automakers appear to be swallowing tariff costs for now. But the world’s largest eyewear maker, EssilorLuxottica, said it raised U.S. prices due to tariffs. The maker of Ray-Bans grinds lenses and sunglasses in Mexico, Thailand and China and exports premium frames from Italy.Here’s what we know about the tariffs and what their impact will be on U.S. consumers: How we got here President Donald Trump unveiled sweeping import taxes on goods coming into the U.S. from nearly every country in April. He said the tariffs were meant to boost domestic manufacturing and restore fairness to global trade. A week later, Trump announced a 90-day pause on the tariffs but did leave in place a 10% tax on most imports. In early July, Trump began sending letters to dozens of countries saying higher tariffs would go into effect Aug. 1 unless they reached trade deals. The administration announced new rates for dozens of countries on Thursday but delayed their implementation until Aug. 7. In the meantime, Trump announced a 35% tariff on imports from Canada would take effect Friday. But Trump delayed action on Mexico and China while negotiations continue.Other duties not specific to countries also remained in place Friday, like a 50% tariff on imported aluminum and steel announced in June.What tariffs are in place already The Trump administration has reached deals with the European Union, Japan and South Korea that put 15% tariffs in place. A deal with the Philippines puts 19% tariffs in place while a deal with Vietnam imposes a 20% levy. On Wednesday, Trump announced a 25% tariff on goods from India and a 50% tariff on goods from Brazil. Tariffs are already impacting prices The U.S. Commerce Department said Thursday that prices rose 2.6% in June, up from an annual pace of 2.4% in May and higher than the Federal Reserve’s goal of 2%. Many goods that are heavily imported saw price increases, including furniture, appliances and computers.Zhang, the Cornell economist, said U.S. consumers could see higher prices in the coming months for appliances and other products that contain a large amount of steel and aluminum. Toys, kitchenware, electronics and home goods could also see price spikes.But Zhang said a 15% tariff doesn’t mean prices will immediately rise by 15%. Companies were aware of the tariff deadlines and have been trying to stockpile goods and take other measures to mitigate the impacts.Some Americans will see benefits Zhang noted that Trump’s trade deals often contain specific provisions designed to boost U.S. exports. The agreement with the European Union, for example, calls for European companies to purchase $750 billion worth of natural gas, oil and nuclear fuel from the U.S. over three years.Zhang said semiconductor firms and military contractors could also see bumps in trade.Some U.S. farmers could also see a potential upside, Zhang said. As part of its trade deal, Vietnam agreed to purchase $2 billion in U.S. agricultural products over three years, including corn, wheat and soybeans, according to the International Trade Council.But Zhang cautioned that agricultural agreements tend to be short-lived. Over the longer term, the uncertainty over tariffs could cause countries like China to back away from U.S. agricultural markets and look for other partners, Zhang said.Food and drink prices will climb The tariffs will almost certainly result in higher food prices, according to an analysis released this week by the nonpartisan Tax Foundation. The U.S. simply doesn’t make enough of some products, like bananas or coffee, to satisfy demand. Fish, beer and liquor are also likely to see price hikes, the foundation said.Conagra Brands, the maker of Hunt’s canned tomatoes, Reddi-wip and other brands, said in July that tariffs – particularly the 50% tax on imported aluminum and steel — will add $200 million annually to its costs. The company said it’s shifting some of its suppliers but also expects to raise prices.Ben Aneff, managing partner at Tribeca Wine Merchants and president of the U.S. Wine Trade Alliance, said that beginning Friday shoppers will see prices rise 20% to 25% at his store and others because of tariffs and the declining value of the dollar.“Nobody can afford to eat the tariff. It gets passed on,” Aneff said.Aneff said shoppers haven’t felt the impact from higher duties until now because distributors and retailers accelerated shipments from France and other European countries earlier in the year. But with the tariff rate bumping to 15%, Aneff expects European wine prices to jump 30% in September. Clothing and shoe prices are already creeping up Ninety-seven percent of clothing and shoes sold in the U.S. are imported, primarily from Asia, according to the American Apparel & Footwear Association said. China leads the pack, but companies have been shifting more of their sourcing to Vietnam, Indonesia and India. And prices are already on the rise. Steve Lamar, president and CEO of of the trade group, declined to estimate price increases because he said the situation continues to be in flux. He also said shoppers will see higher costs from tariffs play out in other ways starting this fall. Companies may drop products because they’re too expensive or reduce promotions, he said.Matt Priest, president and CEO of the Footwear Distributors and Retailers of America, estimates prices for shoes are starting to go up for the back-to-school shopping season. He estimates price increases in the 5% to 10% range.Lululemon said in June that price increases will be modest and apply to a small portion of its assortment, while Ralph Lauren said it would be hiking prices for this fall and next spring to offset tariffs. Bjorn Gulden, CEO of Germany-based Athletic wear giant Adidas, told investors Wednesday that the company is reviewing different price increases for products for the U.S. but no decision has been made.“Tariffs (are) nothing else than a cost,” he said. “And regardless of what people are saying, you can’t just throw a cost away. It’s there.” Car prices hold steady — so far Some automakers have already raised prices to counteract tariffs. Luxury sports car maker Ferrari said Thursday it was waiting for more details of Trump’s trade deal with the European Union before scaling back a 10% surcharge it put in place in April on most vehicles in the U.S.But for the most part, automakers haven’t been raising prices as they wait for details of the trade deals. Kelley Blue Book, which monitors car pricing, said the average U.S. new car cost $48,907 in June, which was up just $108 from May.But that could change. General Motors said last week that the impact of the tariffs could get more pronounced in the third quarter of this year. GM has estimated that the tariffs will cost it $4 billion to $5 billion this year.___AP Business Writer Colleen Barry reported from Milan. More

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    Conor McGregor says he will run to be Ireland’s president just 10 years after declaring: ‘F*** politics’

    Conor McGregor has said that he will run for Ireland’s presidency, 10 years after declaring “f*** politics” in an online rant. The controversial former UFC star pushed his anti-immigration message as he pledged on Thursday to run for the largely ceremonial role later this year.Referring to a European Union migration pact set to more evenly distribute asylum claims across the bloc, his announcement on social media stated: “Who else will stand up to the government and oppose this bill? Any other presidential candidate they attempt to put forward will be of no resistance to them. I will!”The news of his candidacy comes during the same week that the Dublin-born 36-year-old visited President Donald Trump in the White House, drawing criticism from political leaders who said his views did not reflect those of the Irish people. And it comes only months after McGregor was found civilly liable of assault in a High Court damages case in his homeland taken by a woman who accused him of rape – McGregor is currently appealing that verdict. Conor McGregor visited Donald Trump in the White House this week as part of St. Patrick’s Day celebrations More

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    Watch live: Keir Starmer holds press conference after Ukraine crisis talks with European leaders

    Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreWatch live as Sir Keir Starmer holds a press conference on Sunday (2 March) following Ukraine crisis talks with European leaders.Speaking at a summit in London to discuss ending Russia‘s war in Ukraine, Sir Keir said that getting a good outcome for Ukraine was “vital to the security of every nation here and many others too”.He was flanked by Ukrainian president Volodymyr Zelensky and French leader Emmanuel Macron during the official photo to mark the start of talks.The Ukrainian leader was among more than a dozen leaders attending the meeting from a host of European nations, as well as Canada, Turkey and Nato. It was held at Lancaster House, a 200-year-old elegant mansion near Buckingham Palace.Mr Zelensky will also meet with King Charles later on Sunday, in what is being seen as a moment of royal solidarity with Ukraine.Sir Keir Starmer revealed earlier that he would present a peace plan to US president Donald Trump after a summit of European leaders in London today. More

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    Norway’s government breaks silence after major supplier says it will no longer refuel US Navy ships

    Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreThe Norwegian government has moved to ease concerns regarding the refuelling of US Navy vessels after one company spoke out on social media, saying in the wake of Donald Trump’s showdown with Ukrainian President Volodymyr Zelensky on Friday, it would no longer supply American ships. “We have seen reports raising concerns about support for U.S. Navy vessels in Norway. This is not in line with the Norwegian government’s policy,” Norway’s Defence Minister Tore Sandvik said in a statement.”American forces will continue to receive the supply and support they require from Norway,” he added. Sandvik issued his statement after privately held Norwegian fuel supplier Haltbakk Bunkers said that it would stop supplying U.S. Navy ships in response to how Ukrainian President Volodymyr Zelenskiy was treated at the White House on Friday.”Huge credit to the president of Ukraine restraining himself and for keeping calm even though USA put on a backstabbing TV show. It made us sick… No Fuel to Americans!,” the company said in a now deleted Facebook post.Haltbakk Bunkers CEO Gunnar Gran confirmed to Norwegian newspaper VG that the company made a decision not to supply the US military, but said the move would have a “symbolic” impact as it didn’t have a fixed contract.The Norweigian government regularly refuels US Navy vessels such as the USS Carl Vinson aircraft carrier, shown here More

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    ‘The free world needs a new leader’, EU foreign chief warns after explosive row between Trump and Zelensky

    Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read more“The free world needs a new leader”, the EU’s foreign policy chief has warned, hitting back at Donald Trump after his explosive Oval Office clash with Volodymyr Zelensky. EU leaders threw their weight behind the Ukrainian president on Friday evening after the shocking confrontation between the two leaders, which saw Mr Trump claim Mr Zelensky is not “ready for peace”, as well as accusing him of “gambling with world war three”.But Kaja Kallas, the EU high representative for foreign affairs and security policy, went one step further, suggesting that Mr Trump is no longer fit to lead the free world. Kaja Kallas said President Trump was no longer fit to lead the free world after his clash with Mr Zelensky More

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    Zelensky flooded with messages of support from world leaders after Trump meeting: ‘Their fight is our fight’

    Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreUkrainian President Volodymyr Zelensky’s social media site was flooded with moving messages of support from leaders around the world, including the U.S., after he was mocked and yelled at by President Donald Trump Friday in a meeting in the Oval Office.Trump, the draft dodger who got out of the Vietnam War with a reportedly faked bone spurs excuse, taunted the war president’s black sweater and pants (similar to Elon Musk’s Oval Office attire), and informed Zelensky that his country was in “big trouble” before the sit down imploded into a shouting match and was terminated.Trump said later on Truth Social that Zelensky had “disrespected the United States of America in its cherished Oval Office.”Former Republican Wyoming Rep. Liz Cheney quickly shot back on X after the shocking meeting: “Generations of American patriots, from our revolution onward, have fought for the principles Zelenskyy is risking his life to defend.”Donald Trump and JD Vance “attacked Zelenskyy and pressured him to surrender the freedom of his people to the KGB war criminal who invaded Ukraine. History will remember this day — when an American President and Vice President abandoned all we stand for,” she added.Zelensky was quickly supported in posts on X by the leaders of France, Sweden, Germany, Ireland, Finland, Denmark, The Netherlands, Austria, Luxembourg, Slovenia, Canada, Croatia, Romania, Poland, the Czech Republic and Portugal, among other nations.Zelensky responded to each: “Thank you for your support.”“Russia illegally and unjustifiably invaded Ukraine,” wrote Canada’s Prime Minister Justin Trudeau in a post to Zelensky after the meeting debacle. “For three years now, Ukrainians have fought with courage and resilience. Their fight for democracy, freedom, and sovereignty is a fight that matters to us all.”Russia illegally and unjustifiably invaded Ukraine. For three years now, Ukrainians have fought with courage and resilience. Their fight for democracy, freedom, and sovereignty is a fight that matters to us all.Canada will continue to stand with Ukraine and…— Justin Trudeau (@JustinTrudeau) February 28, 2025 “The security of Ukraine is crucial for the security of Europe. We all need to stand together to fight for our values, freedom, and peace,” wrote Acting Romania President Ilie Bolojan. “We stand united with @ZelenskyyUa and Ukraine in our fight for freedom. Always. Because it is right, not easy,” posted Estonia Prime Minister Kristen Michal. We stand united with @ZelenskyyUa and Ukraine in our fight for freedom. Always. Because it is right, not easy. 🇪🇪🇺🇦— Kristen Michal (@KristenMichalPM) February 28, 2025 “Slovenia upholds the principles and respect of international law and international relations. What we witnessed in the Oval Office today undermines these values and the foundations of diplomacy,” wrote Slovenia President Nataša Pirc Musar. “We stand firmly in support of Ukraine’s sovereignty. We repeat, Russia is the aggressor.” “We stand behind Ukraine and the Ukrainian people in their historic fight to defend themselves against an unprovoked Russian aggression. Their fight is our fight. United we are strong,” posted Belgium’s Prime Minister Bart De Wever.We stand behind Ukraine and the Ukrainian people in their historic fight to defend themselves against an unprovoked Russian aggression. Their fight is our fight. United we are strong. 🇺🇦— Bart De Wever (@Bart_DeWever) February 28, 2025 “The Netherlands supports Ukraine as firmly as ever. Now more than ever,” wrote Netherland Prime Minister Dick Schoof. “We want a lasting peace and an end to the war of aggression started by Russia. For Ukraine and its people, and for Europe.”Robert Metsola, president of the European Parliament, wrote: “Your dignity honors the bravery of the Ukrainian people. Be strong, be brave, be fearless. You are never alone, dear President Zelensky. More

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    Wars drive number of forcibly displaced people to record high, UN says

    For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emailsSign up to our free breaking news emailsThe number of people forcibly displaced in the world through wars, persecution and disasters, natural and man -made, rose to a record 117.3 million last year with the situation likely to get even worse, the United Nations refugee agency (UNHCR) has said.Forced displacement has continued to rise in the first four months of this year, and the total of those affected is expected to reach 120 million in the near future, with no end to global strife in sight.”These are refugees, asylum seekers, internally displaced people, people being forced away by conflict, by persecution, by different and increasingly complex forms of violence,” said Filippo Grandi, the UN High Commissioner for Refugees.The Israeli offensive in Gaza has led to 80 per cent of the territory’s population, 1.7 million people, to flee, often being driven from one refuge to another as Benjamin Netanyahu’s government has expanded the operation. Those who had fled across the border into Egypt, the UNHCR report said, may find themselves stranded.”Another refugee crisis outside Gaza would be catastrophic on all levels, including because we have no guarantee that the people will be able to return to Gaza one day,” Mr Grandi said.The civil war in Sudan, which has faded from international focus, has been “one of the most catastrophic ones” unfolding with more that nine million people internally displaced and another two million have fled to neighbouring countries including Chad, Egypt and South Sudan.While existing conflicts continue, the unstable international geopolitics could lead to more rather than less violence unfolding, says the report. “Unless there is a shift in international geopolitics, unfortunately, I actually see that figure continuing to go up,” Mr Grandi said. More

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    Watch live: World leaders arrive for 60th Munich Security Conference

    For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emailsSign up to our free breaking news emailsWatch live as world leaders arrive for the 60th Munich Security Conference beginning on Friday, 16 February.UN Secretary-General Antonio Guterres opens the conference at a critical time, as violence in Gaza escalates amid calls for ceasefires; the US presidential election campaign heats up; and calls to bolster support and aid for Ukraine increase.An estimated 50 world leaders are expected to attend the annual event that bills itself as the world’s leading forum for debating international security policy. The governments of Russia and Iran have not been invited.US Vice President Kamala Harris is scheduled to address the conference on its opening day. She returns after speaking at the 2022 and 2023 conferences, but now faces the task of assuring Nato allies will be protected after recent comments from Donald Trump.On Saturday, Ukrainian President Volodymyr Zelenskiy will make his first in-person appearance at the conference since Russia launched its invasion of Ukraine in February 2022, having addressed last year’s conference virtually. More