US President Donald Trump’s recent implementation of reciprocal tariffs has struck a significant blow to global stock markets. Effective as of Wednesday, these tariffs impose a minimum of 10% on nearly all US trading partners, with steeper rates targeting countries with a trade surplus with the US. The tariffs, announced on April 2, have led … Read more
U.S. President Donald Trump may have dubbed April 2 “Liberation Day” while unveiling sweeping new tariffs, but Chris Wood, global head of equity strategy at Jefferies, sees the move as a damaging turn in U.S. trade policy, calling it “an impoverishment day, not a liberation day” in his latest GREED & fear report. “Tariff hikes … Read more
India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil imports after the United States announced a 25% tariff on nations buying crude from the South American nation, three sources said on Wednesday. The Indian conglomerate, which last year obtained approval from U.S. authorities to purchase oil from the sanctioned producer, … Read more
Valuation guru Aswath Damodaran has spelled out a warning of sorts for India’s growth story as the world, led by the US, takes a more protectionist turn. In his latest blog post, Damodaran said India will face many more hurdles in its path to achieve economic growth, unlike China which relatively had smoother sailing in … Read more
SYDNEY: Asian share markets dithered on Monday as the threat of imminent tariffs lurked in the background, while bitcoin surged on news it would be included in a new U.S. strategic reserve of cryptocurrencies. U.S. President Donald Trump on social media announced five digital assets he expected to include in a new reserve, including bitcoin, … Read more
President Donald Trump says he plans to impose tariffs on Canada and Mexico starting next Tuesday, in addition to doubling the 10 per cent universal tariff charged on imports from China. Posting on Truth Social on Thursday, Trump said that illicit drugs such as fentanyl are being smuggled into the United States at “unacceptable levels” … Read more
The Indian market closed in the red on Friday, extending their losing streak to a third consecutive week. The decline was driven by losses in heavyweight financial and automobile stocks, while lingering concerns over U.S. tariffs continued to dampen investor sentiment. The benchmark BSE Sensex shed 424.90 points or 0.56% to close at 75,311.06, while … Read more
China’s export growth unexpectedly slowed in September, curbing a trade rebound that has been a bright spot for a weakening economy that policymakers are relying on manufacturing to power. Exports climbed just 2.4% in dollar terms from a year earlier to almost $304 billion, the lowest level since May, the customs administration said Monday. Shipments … Read more
Tesla founder Elon Musk told tech investors in Paris on Thursday he opposed U.S. tariffs on Chinese electric vehicles (EVs), an about-face from his January warning that trade barriers were needed or China would “demolish most other car companies in the world.” On Thursday, Musk said he did not favour measures that distorted the market. … Read more