The EU has demanded that the United States stick to the terms of a trade deal they agreed last year after the U.S. Supreme Court struck down President Donald Trump's global tariffs and he responded with a new, across-the-board "import surcharge".

The US government faces a February 27 deadline to respond to the Supreme Court ruling on tariff refunds, amid a wave of more than 2,000 lawsuits seeking up to $175 billion.

On February 27, the Chinese Ministry of Commerce announced it would temporarily reduce some tariffs on goods imported from Canada.

The US has warned it may raise additional import tariffs from 10% to 15% or higher on some countries, raising concerns about the cost of goods and global trade stability.

US tariff policy is facing many uncertainties following the Supreme Court ruling, with the possibility of imposing a 10-15% tariff rate and expanding the investigation under Section 301.

Almost a year after China expanded rare-earth export controls ostensibly aimed at preventing their use by foreign militaries, exporters are still asking a basic question: when does a small magnet turn an everyday product into a controlled item?

The European Union is facing a "transitional period" of a few months in relations with the U.S. after President Donald Trump's new "import surcharge", which threatens to undermine the trade deal the two sides struck last year, European Trade Commissioner Maros Sefcovic said on Tuesday.

US GDP growth in the fourth quarter of 2025 is projected at only 1.4%, a sharp decrease from 4.4% in the third quarter and 3.8% in the second quarter, significantly lower than analysts' expectations (2.5-2.8%).

The US administration's imposition of a temporary global tariff of 10% for 150 days is seen by Vietnamese export businesses as creating more opportunities to seek new and more promising orders from this market.

China said on Wednesday it had already met obligations linked to Washington's Section 301 unfair trade practices statute, after the U.S. Trade Representative signalled he would continue investigations that could lead to more tariffs.