In a major development, US President Donald Trump announced on April 9 a 90-day ‘pause’ on reciprocal tariffs for all but China. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. … Read more
The global economy appeared to be in open rebellion against President Donald Trump‘s tariffs as they took effect Wednesday. Business executives are warning of a potential recession caused by his policies, some of the top US trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline. … Read more
The European Union finally took the tariff war to Trump on April 9, announcing the first set of counter-measures in response to the US President’s aggressive unsettling of world trade. European retaliation will now affect over 20 billion euros worth of American goods such as soybeans, motorcycles, and beauty products, according to a European Commission … Read more
US President Donald Trump says he will soon announce “major” tariffs on imported pharmaceuticals, a move that could end decades of low-cost global trade in medicines. For years, most countries, including the US, have imposed few or no tariffs on finished drugs, thanks in part to a 1995 World Trade Organisation (WTO) agreement aimed at … Read more
“It is a very-very good liquidity provision they have done. Now, followed up with another repo rate cut and changing the stance from neutral to accommodative and clearly directionally telling that we are pro-growth now,” says Sanjay H Parekh, Sohum Asset Managers.The verdict is out. If you look at the RBI stance, there is a … Read more
LAJAS BLANCAS, Panama: A little more than a year ago, the small Panamanian river port of Lajas Blancas was filled with a crush of people trying to make their way to the United States. Now, the makeshift migrant camp has become a ghost town. More than a thousand migrants a day would cross the harrowing … Read more
Wall Street billionaires are not used to being on the outside looking in. But that is where they find themselves after President Trump ignored their appeals to call off his tariff plans which they fear could endanger the economy. With the backdrop of rapidly mounting stock market losses, corporate titans have worked every angle — … Read more
There aren’t a lot of countries Israel’s prime minister can visit without risking arrest. Which makes the red-carpet treatment Benjamin Netanyahu received in Hungary — Europe’s only proud “illiberal democracy” — all the more noteworthy. Viktor Orban, Hungary’s prime minister, invited Mr. Netanyahu right after the International Criminal Court issued an arrest warrant last November … Read more
Taking a break from her work dismantling her own department, Secretary of Education Linda McMahon last week threatened roughly $9 billion of grants and contracts with Harvard because of “the school’s failure to protect students on campus from antisemitic discrimination.” As shocking as that threat was, it wasn’t entirely a surprise: Since the Justice Department … Read more
Beijing: The set of 34% tariffs imposed by US President Donald Trump on Chinese exports could hit China’s GDP by two to 2.5 percentage points, further affecting the Chinese economy which is struggling with slowdown, a top Chinese Economist said. Larry Hu, chief China economist at investment bank Macquarie, estimated that the duties could lower … Read more