The United States has reduced the 25 percent extra tariff on steel imports from Japan that was imposed by the Trump administration.Under the new 232 tariff agreement reached with Japan on Monday, around 1.25 million metric tonnes of Japanese steel products will be allowed to enter the U.S. market a year without the application of Section 232 tariffs.Announcing the deal, Secretary of Commerce Gina ...
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Political News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.