The United States began collecting a temporary new 10% global import tariff on Tuesday but the Trump administration was working to increase it to 15%, a White House official said, sowing confusion over President Donald Trump's tariff policies in the wake of last week's Supreme Court defeat, Reuters reported. Trump initially signed an order on Friday for a 10% tariff to last 150 days to replace broad duties under an emergency law that were struck down by the Supreme Court, but on Saturday, he said that he would increase the rate to 15%.

Wall Street stocks declined on Monday after the European Union delayed a trade deal with the U.S. after Donald Trump said he would impose new blanket 15pc global tariffs, The Telegraph reported. The tech-heavy Nasdaq Composite and the S&P 500 both shed 1.2pc, while the Dow Jones industrial Average fell 1.5pc. The European Parliament’s trade committee had been due to vote on Tuesday about whether to adopt a deal that would have lowered duties on both sides of the Atlantic. However, the plan has been thrown into disarray after the Supreme Court struck down swathes of the U.S.

China is closely monitoring U.S. policies and will decide "in due course" whether to adjust countermeasures to U.S. tariffs, a commerce ministry official said on Tuesday after President Donald Trump said he would levy a new temporary tariff of 15% on U.S. imports from all countries, Reuters reported. China is willing to hold frank consultations during an upcoming sixth round of U.S.-China economic and trade talks, the commerce ministry official added. "China has consistently opposed all forms of unilateral tariff measures and urges the U.S.

The financial restructuring process of Azul under Chapter 11 of the United States Bankruptcy Code reached its conclusion on February 20. Following the full repayment of the DIP (Debtor-in-Possession) financing and the settlement of its share offering, the company emerges with a reduction in debt and lease obligations of approximately $2.5 billion, AviaciOnline.com reported. The airline successfully repaired its balance sheet through strategic agreements with key creditors, including the lessor AerCap and U.S. carriers United Airlines and American Airlines.

The European Commission demanded on Sunday that the United States stick to the terms of an EU-U.S. trade deal reached last year, after the U.S. Supreme Court struck down Donald Trump's global tariffs and he responded with new levies across the board, Reuters reported. The Commission, which negotiates trade policy on behalf of the 27 EU member states, said Washington must provide "full clarity" on the steps it intends to take following the court ruling. After the court struck down Trump's global tariffs on Friday, the U.S.

After the Supreme Court struck down the legal basis for President Trump’s sweeping tariffs on Friday, many U.S. trading partners saw the tariff rate on their goods lowered from what they faced before the ruling. But for others, like Britain and Australia, the math went the other way, the New York Times reported. Britain became the first country to reach a trade deal during Mr. Trump’s second term, and both governments emphasized the “special relationship” between the two countries.

The Supreme Court struck down President Donald Trump’s far-reaching global tariffs on Friday, handing him a significant loss on an issue crucial to his economic agenda, the Associated Press reported. The 6-3 decision centers on tariffs imposed under an emergency powers law, including the sweeping “reciprocal” tariffs he levied on nearly every other country. The majority found that the Constitution “very clearly” gives Congress the power to impose taxes, which include tariffs. “The Framers did not vest any part of the taxing power in the Executive Branch,” Chief Justice John Roberts wrote.

Thousands of companies and importers are set to launch what could be a prolonged battle to try to recoup as much as $170 billion in tariffs they’ve already paid to the U.S. government after the Supreme Court struck down a key tool in President Donald Trump trade policy, Bloomberg News reported. The top court was silent on the topic of refunds when it ruled on Friday that Trump didn’t have legal authority to impose the duties under an emergency law. The administration’s loss is poised to reverberate across the global economy. The scale and reach of any refund process would be unprecedented.

Private-sector activity in the U.S. slowed in February as tariffs drove costs higher for firms, while Europe expanded at a stronger pace than anticipated as a rebound in industry signaled resilience against lingering headwinds, the Wall Street Journal reported. The S&P Global Flash U.S. Composite PMI—based on a survey of around 650 manufacturers and 500 service providers—fell to 52.3 this month from 53.0 in January. A reading above 50 indicates activity continued to grow.

An Ontario court has agreed to recognize a U.S. bankruptcy filing from the operator of Eddie Bauer’s Canadian stores, the Canadian Press reported. The Ontario Superior Court’s recognition of the case paves the way for any outcomes in the U.S. proceedings to more easily be applied in Canada. When apparel firm Eddie Bauer LLC filed for bankruptcy protection earlier this month, it said it would look to sell its stores while it liquidates its Canadian and American shops. The Ontario court filings show 24 of the company’s 175 North American stores are in Canada.