Global trade
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Billionaire investor Warren Buffett called tariffs “an act of war, to some degree” when asked about President Donald Trump’s plans for goods from other countries. Trump’s 25% tariff on goods from Mexico and Canada, and an additional 10% on Chinese imports, took effect Tuesday. During an interview with CBS News televised Sunday, Buffett was asked about the…
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China responded to new U.S. tariffs by announcing Tuesday it will impose additional tariffs of up to 15% on imports of key U.S. farm products, including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies. The tariffs announced by the Commerce Ministry will take effect from March 10, though…
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Canada’s merchandise exports increased 4.9 percent and imports were up 2.3 percent in December, Statistics Canada said Wednesday. The depreciation of the Canadian dollar continued to impact import and export values in December, said the national statistical agency. According to the agency, the average value of the Canadian dollar decreased sharply for a third consecutive…
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The Mazhilis, or the lower house of Kazakhstan’s parliament, has ratified the Agreement between the governments of Kazakhstan and Uzbekistan on the regulation of operations at the Central Asia International Industrial Cooperation Center, according to the Kazakh government’s press service on Wednesday. The Center will help accelerate cargo transport, reduce logistics costs, streamline supply chains…
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Myanmar exported over 1.5 million tons of pulses between April and December of the 2024-2025 fiscal year, state-run daily The Global New Light of Myanmar reported on Wednesday. The exports included 700,000 tons of black gram, 200,000 tons of pigeon pea and 400,000 tons of green gram, the report said, citing Myanmar Pulses, Beans, Maize…
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Bitcoin posted its longest losing streak in the period since Donald Trump’s US election victory, after a failed run at $100,000 cooled the speculative fervor sparked by the president-elect’s embrace of crypto. The four straight days of declines have lopped about 9% off the digital asset, which traded at $91,100 as of 3:23 p.m. Tuesday…
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Key Takeaways President-elect Donald Trump on Monday pledged big tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars. Trump, who takes office on Jan. 20, 2025, said he would impose a 25% tariff on imports from Canada…
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The United States’ new protectionist stance in the international trade will only raise prices, limit consumer choices and risk growth, said an opinion piece carried by The New York Times Tuesday. The U.S. tariffs on Chinese electric vehicles and other products are mainly aimed at pleasing voters rather than economic considerations, wrote Steven Rattner, who…
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Thailand’s exports rebounded to growth in April due to improved demand for industrial products, which aligned with global economic recovery and easing inflation, official data showed on Thursday. Exports, a key driver of the Southeast Asian country’s economic growth, jumped 6.8 percent last month from a year earlier to 23.27 billion U.S. dollars, a sharp…
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For a period of time this year, China’s export growth rate declined. This should be viewed rationally. It was related to the high base of last year. Data show that the excess inventory during the COVID-19 pandemic has been gradually digested, and the electronics cycle in the Western market has begun to bottom out. In…
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The global economy is in a synchronized slowdown and we are, once again, downgrading growth for 2019 to 3 percent, its slowest pace since the global financial crisis. Growth continues to be weakened by rising trade barriers and increasing geopolitical tensions. We estimate that the US-China trade tensions will cumulatively reduce the level of global GDP…
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The world is heading for a global trade slowdown in 2019 as financial markets grow increasingly worried about the world economy, fearing things could turn ugly fast if a meaningful deal isn’t reached in the US-China trade dispute. The World Trade Organisation’s (WTO) chief economist, Robert Koopman, told Bloomberg all indicators point to a lowdown. “When…
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