The dollar firmed on Monday after U.S. President Donald Trump said he was set to impose new 25% tariffs on all steel and aluminium imports, putting pressure on the euro and the commodity-focused Australian and New Zealand dollars. Trump also said he will announce reciprocal tariffs on Tuesday or Wednesday, applying them to all countries … Read more
The dollar surged, oil jumped and equity markets turned red after US President Donald Trump made good on his threat to impose tariffs on the exports of Canada, Mexico and China. The yields on US Treasuries gained while stock futures slumped, and an index of Asia-Pacific shares also dropped in response to the punitive measures … Read more
Chinese automakers have urged Beijing to hike tariffs on imported European gasoline-powered cars in retaliation for Brussels’ curbs on exports of Chinese-made EVs, the state-backed Global Times newspaper said on Wednesday. In a closed-door meeting on Tuesday also attended by European car companies, China’s auto industry “called on the government to adopt firm countermeasures (and) … Read more
Just a quarter of business economists and analysts expect the United States to fall into recession this year. And any downturn would likely result from an external shock – such as a conflict involving China – rather than from domestic economic factors such as higher interest rates. But respondents to a National Association of Business … Read more
China’s economy will become more dependent on its domestic market even as it opens up further for global trade, former Chongqing mayor Huang Qifan said at the annual International Finance Forum on Saturday. Foreign trade accounted for 64% of China‘s economy in 2006 and will gradually decline to about 25%, Huang said at the meeting … Read more