US President Donald Trump abruptly paused tariffs on most countries, sparking euphoria on global markets Thursday, but upped the ante on a brutal trade war with superpower rival China.After days of turmoil, stocks on Wall Street and across Asia saw huge surges in reaction to Trump’s announcement that he was halting a levy hike for …
Trump’s tariff pause gives market relief, but China trade war intensifies Read More »
Papua New Guinea will “immediately” lift a ban on forest carbon credit schemes, the Pacific nation’s climate minister told AFP on Thursday, opening up its vast wilderness to offset global emissions.The island of New Guinea is cloaked in the world’s third-largest rainforest belt, helping the planet breathe by sucking in carbon dioxide gas and turning …
Papua New Guinea lifts ban on forest carbon credits Read More »
Sipping tea on her break outside a Samsung Electronics factory in northern Vietnam, worker Nguyen Thi Mai said she had heard about US President Donald Trump’s tariffs, but hoped it would not affect business.Samsung, the world’s second-largest phone maker, produces around half of its handsets in Vietnam, and Trump’s threat to impose a 46-percent tariff …
Samsung under pressure as US tariffs rattle South Korean economy Read More »
US President Donald Trump has ramped up his trade war against China, further raising import tariffs on Beijing to 125 percent despite pausing them for other countries.The move came hours after China announced reciprocal action against the United States in response to a previous levy hike.AFP looks at how the escalating trade war between the …
Asian stocks rocketed Thursday as investors breathed a huge sigh of relief after Donald Trump announced a pause on crippling tariffs on US partners, with Chinese markets even brushing off his decision to ramp up duties on Beijing to 125 percent.Equities surged across the board, tracking a blistering performance on Wall Street, after the US …
Asian stocks crack higher as Trump delays painful tariffs Read More »
Consumer prices in China fell in March for the second straight month, official data showed Thursday, as the world’s second-largest economy struggles to boost spending and a trade war with the United States deepens.The drop comes as Beijing seeks to boost domestic consumption, which has yet to recover to pre-pandemic levels.The consumer price index (CPI) …
China consumer prices slump for second straight month: data Read More »
It ended not with a bang, but with US President Donald Trump and two top aides writing a social media post.Trump’s decision to pause worldwide tariffs capped an extraordinary week of global panic since he announced the levies on what he called “Liberation Day.” After repeatedly denying that he was considering a halt, the first sign …
Art of the deal? How Trump backed down on tariffs Read More »
US President Donald Trump abruptly paused tariffs on most countries Wednesday after admitting they made the markets nervous, but doubled down on a brutal trade war with superpower rival China.Following days of market turmoil, Wall Street stocks saw historic surges in reaction to Trump’s announcement that he was halting a levy hike for almost all …
Trump stuns with tariff backtrack but punishes China Read More »
US Treasury Secretary Scott Bessent warned countries Wednesday against closer alignment with China on trade, as he defended President Donald Trump’s move to remake the world’s biggest economy through market-shaking tariffs.Bessent told a summit of bankers in Washington that economies potentially eyeing closer ties with Beijing over the US shift may want to think twice, …
US Treasury chief defends tariffs, warns against aligning with China Read More »
President Donald Trump’s punishing tariffs on countries around the world, including a 104 percent increase in duties on China, bear the fingerprint of Peter Navarro, a Harvard-trained economist who has long warned against a rising Beijing.Saying Washington’s trade deficit was a sign of unfair competition, Trump announced blanket 10 percent tariffs on countries and territories …
