Reuters Asia Business

By Laura Matthews NEW YORK (Reuters) -The U.S. dollar rebounded against major currencies such as the euro and yen on Friday after Federal Reserve Chairman Jerome Powell acknowledged the repercussions of larger-than-expected U.S. tariffs and signaled a cautious tone on future easing. Powell said tariffs increased the risk of higher inflation and slower growth, highlighting …

US dollar recovers, Aussie hits five-year low after China tariff retaliation Read More »

By Junko Fujita, Ankur Banerjee, Anton Bridge and Nupur Anand NEW YORK/TOKYO/LONDON (Reuters) -Bank stocks tanked across the globe on Friday as fears of a recession swept through markets after U.S. President Donald Trump announced the highest tariff walls in a century. The S&P 500 banks index, which tracks U.S. lenders, fell more than 7%, …

Global rout in bank shares intensifies as recession fears mount Read More »

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday extended the deadline for the sale of ByteDance’s U.S. assets of short video app TikTok, saying “tremendous progress” had been made but more work was needed to secure approvals. Trump added that he looked forward to working with TikTok and China to close the deal, and …

Trump says he will extend TikTok deadline for 75 days Read More »

GENEVA (Reuters) – China said it had opened a formal complaint against the new U.S. tariffs with the World Trade Organization on Friday, saying the measures violate WTO rules and requesting consultations. Earlier, China announced retaliatory additional tariffs of 34% on U.S. goods, the most serious escalation in a trade war with President Donald Trump …

China files complaint with WTO over new US tariffs Read More »

By Khanh Vu and Francesco Guarascio HANOI (Reuters) -U.S. President Donald Trump and Vietnam’s leader To Lam agreed on Friday to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was “very productive”, as Hanoi escalated its campaign to dodge duties of 46%. Days before Trump’s announcement on …

Trump, Vietnam’s Lam agree to discuss tariffs deal, to meet soon Read More »

(Reuters) -China escalated the global trade conflict on Friday by imposing an additional 34% tariff on U.S. goods, following President Donald Trump’s sweeping tariffs. Crude prices, already under pressure from Trump’s tariffs and an anticipated increase in OPEC+ production in May, plummeted by 8% on Friday, heading towards their lowest close since the peak of …

Oil tumbles 8% after China retaliates in global trade war Read More »

LONDON (Reuters) -China announced additional tariffs of 34% on U.S. goods on Friday, upping the ante in a global trade war after President Donald Trump’s sweeping tariffs this week. Growing fears of a recession roiled global stocks for a second day on Friday. Banking stocks cratered as investors fretted about growth and priced in far …

Investors react to China’s retaliatory tariffs on US goods Read More »

By Olivia Le Poidevin GENEVA (Reuters) -Japan could lose $17 billion in car export potential in the U.S. following President Donald Trump’s decision to introduce 25% tariffs on the automotive sector, the International Trade Centre said on Friday. “Japan’s automotive sector comprises 20% of the country’s total exports and the majority of exports are headed …

Japan could lose $17 billion in car exports due to US tariffs, says UN trade agency Read More »