Senate Moves to End Canada Tariffs Despite Trump Opposition: On Wednesday,
the U.S. Senate passed a bill to end newly imposed tariffs on Canada,
just hours after President Donald Trump announced an expanded package of trade duties.

Contents

U.S. Senate

Slowing Inflation in Switzerland
Von der Leyen

UK Prefers Dialogue

Senate Moves to End Canada Tariffs Despite Trump’s Opposition

On Wednesday, the U.S. Senate approved a bill to end the new tariffs imposed on Canada,
just hours after President Donald Trump unveiled an expanded package of tariffs.
The Senate voted 51 to 48 in favor of the legislation, representing a clear challenge to the Trump administration.
Four Republican senators joined Democrats in supporting the bill.
The legislation is expected to stall in the House of Representatives, which is dominated by Trump allies.
The bill seeks to revoke the national emergency declared by the President on January 22,
which he cited as justification for imposing tariffs on Canada,
claiming it was involved in smuggling the deadly drug fentanyl into the U.S. via the northern border.

Swiss Inflation Slows in March Below Expectations Amid Stable Prices

Data released Thursday morning by the Swiss Federal Statistical
Office showed a significant slowdown in inflation during March,
with an annual rate stabilizing at 0.3%, far below market expectations of a 0.5% rise.
The figures indicate that March’s reading matched that of February,
reflecting continued weak inflationary pressures in the country.
Every month, the Consumer Price Index (CPI) remained flat at 0.0%,
defying forecasts of a modest 0.1% rise, following a sharp 0.6% decline in February.
It is worth noting that demand for Swiss exports is closely tied to demand for the Swiss franc,
as foreign buyers must purchase the local currency to pay for imports.
This, in turn, affects domestic production and pricing levels for local manufacturers.

Von der Leyen: Trump’s Tariffs a “Heavy Blow,” EU Preparing Countermeasures

European Commission President Ursula von der Leyen described the sweeping tariffs
announced by U.S. President Donald Trump as a “heavy blow” to the global economy,
asserting that the European Union will not remain idle and will respond if negotiations fail.
In a statement delivered from the Uzbek capital ahead of an EU–Central Asia partnership summit,
von der Leyen said the Commission is “finalizing the first package of countermeasures,
including a response to the steel tariffs,”
The EU is also preparing additional steps to protect its interests and economy.
On Wednesday, President Trump announced a minimum 10% tariff on most imports into the U.S.,
Along with up to 20% of duties, specifically on EU imports.
This prompted Brussels to warn of an imminent trade escalation if negotiations do not yield results.

UK Prefers Dialogue Over Retaliation After Trump’s Tariffs on Exports

UK Trade Secretary Jonathan Reynolds announced Wednesday that
the UK does not intend to immediately retaliate with its measures against
The tariffs imposed by President Donald Trump include a 10% tariff on British exports to the U.S.
Reynolds stated that as the United States “closest ally,”
the UK prefers to maintain a calm approach and seek an agreement that could ease the impact of these tariffs.
He confirmed that talks with the U.S. side are ongoing and expressed hope
that a deal can be reached to reduce the burden of the announced measures.
Notably, the tariffs imposed on the UK are among the lowest
compared to those placed on other trading partners—such as China,
which faces a 34% duty, and the EU at 20%.

Senate Moves to End Canada Tariffs Despite Trump

Senate Moves to End Canada Tariffs Despite Trump Opposition

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