Trade war
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Beijing on Friday (Apr 11) increased its tariffs on US imports to 125 per cent, hitting back against President Donald Trump’s decision to hike duties on Chinese goods to 145 per cent. The 125 per cent tariffs, up from 84 per cent, will apply from Saturday, further raising the stakes in a trade war that threatens to upend…
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Feb 1, US: Announces an additional 10 per cent tariff on all imports from China over its alleged role in the fentanyl supply chain. Feb 4, China: Retaliates with a package of tariffs on a range of US products – 10 per cent levies on crude oil, farm equipment, large-displacement vehicles and pickup trucks, and 15 per…
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The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by President Donald Trump’s sweeping tariff plan. U.S. stocks retreated on the news. Global markets had previously posted gains on hopes…
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Singapore will form a national task force to support businesses and workers in response to sweeping new US tariffs that could slow economic growth and impact jobs and wages, Prime Minister Lawrence Wong announced on Tuesday (Apr 8). The task force, chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, will…
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The White House’s TikTok deal has devolved into quite a spectacle. Ahead of the Saturday (Apr 5) deadline for the app to divest from its Chinese parent company or face a United States ban, we still don’t have an answer on how it might do this. A flurry of last-minute interest has emerged, with players from Amazon…
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BEIJING: China on Friday (Apr 4) announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The commerce ministry said it would impose additional tariffs of 34 per cent on all US goods from Apr 10. Agriculture trade took another hit as Chinese…
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The European Union has announced retaliatory trade action with new duties on U.S. industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The world’s biggest trading bloc was expecting the U.S. tariffs and prepared in advance, but the measures still place great…
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President Donald Trump on Wednesday threatened “devastating” financial penalties for Russia if President Vladimir Putin does not agree to a ceasefire with Ukraine. “There are things that wouldn’t be pleasant in a financial sense. I can do things financially that would be very bad for Russia. I don’t want to do that because I want…
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The European Union and Canada announced retaliatory tariffs on Wednesday after the Trump administration’s metals duties went into effect, broadening a trade war with several of America’s top trading partners. The U.S. at midnight began imposing 25% tariffs on all steel and aluminum imports from all trading partners, with no exceptions or exemptions, the White House said. Officials representing…
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Defense Secretary Pete Hegseth shot back at China on Wednesday after the communist nation rattled sabers by stating it is prepared for “any type of war” with the U.S. following the start of President Donald Trump’s additional tariffs on Chinese imports. “We’re prepared,” Hegseth told Fox News, according to Blaze Media. “Those who long for peace…
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The U.S. dollar may lose its traditional status as a safe haven as markets adjust to President Donald Trump’s tariffs and suspension of military aid to Ukraine, warned George Saravelos, Deutsche Bank’s global head of FX strategy, Bloomberg reports. “We do not write this lightly,” Saravelos said in a client note Tuesday on the new geopolitical…
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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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The European Union owes its origins to a trade agreement that involved coal and steel. At its very heart is a belief that free trade between partners is a fundamentally good thing. Nothing is more certain to upset policymakers in Brussels than the spectre of swingeing tariffs. They saw this coming, of course. Leaders in…
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Donald Trump says he has spoken to Chinese President Xi Jinping since he returned to the White House on 20 January. The US president made the comments in an interview aired on Fox News tonight. “Yeah… I have talked to him and I have talked to his people, too,” Mr Trump said when asked if…
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Away from the White House, members of Mexico’s National Guard are heading to the US border as part of a deal agreed between Claudia Sheinbaum and Donald Trump. Mexico’s president got Trump to pause the implementation of 25% tariffs on her country yesterday after agreements were reached on border security. Sheinbaum said she was sending…
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The start of the Trump 2.0 era has been positive for stock markets globally so far, unless they’re in Asia with exposure to China. The “will he, won’t he” key question over trade tariffs has dominated sentiment so far this week. The FTSE 100 hit a record high on Friday amid a growing anticipation that…
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