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“This is the Manhattan Project moment for rare earths,” said Joshua Ballard, CEO of USA Rare Earth, which plans next year to start making the rare-earth magnets that appear in many products.

The Indian government estimates the tariffs will impact $48.2 billion worth of exports.

If the EU proposes the legislation by the end of the month, then the 15% tariff rate on European cars will be back-dated to Aug. 1.

The move is part of a broader effort by the administration to take back direct control of key rail hubs along the Northeast Corridor.

Trump has long been a critic of the project, which has been marred with cost overruns and constant delays, arguing that the effort has wasted taxpayers’ dollars.

Speaking in Mexico City, Bank of Canada's Tiff Macklem previewed some of the issues being considered in the coming review of the central bank’s monetary policy framework.  

A measure of Americans’ short-term expectations for income, business conditions and the job market fell 1.2 points to 74.8, remaining below 80, the marker that can signal a recession ahead.

The statement comes about a month after rival Union Pacific agreed to acquire Norfolk Southern in a cash-and-stock transaction valuing the company at about $72 billion.

This time EPA is targeting the California Air Resources Board’s Clean Truck Check law, also known as the Heavy-Duty Inspection and Maintenance Program.

Having to pay import taxes on small parcels from other countries likely will be a big change for some small businesses and online shoppers.