With Trump’s latest tariff action, the magnitude of his trade assault hit home and Beijing’s hope for dialogue melted into frustration and anger. Until now its response had been restrained. On Friday, Beijing matched Trump’s 34% additional tariffs and for the first time it hit all U.S. products, no exceptions. It also restricted exports of…
The UK’s FTSE 100 suffered its worst day since the start of the pandemic as Keir Starmer agreed that “like-minded countries must maintain strong relationships” in the wake of Donald Trump’s tariffs. Trading across the world has been hammered in the aftermath of the US president unveiling his full range of import taxes on countries…
Hong Kong will deploy a search and rescue team to earthquake-stricken areas in Myanmar on Saturday, Chief Executive John Lee Ka-chiu has said, while expressing his condolences to the victims. “The search and rescue team will do their utmost to help save lives on the ground. Upon receiving the order, this group of elite rescuers…
Chip sales to the world’s second-largest economy including Hong Kong fell 31.8 per cent from a year earlier, according to South Korea’s Ministry of Trade, Industry and Energy. That was bigger than the 22.5 per cent contraction reported for January and comes after a 2024 rally that helped fuel South Korea’s economic growth. High-bandwidth memory…
Worries about President Donald Trump’s tariffs are hurting U.S. stocks Monday as financial markets worldwide drop on concerns about a potential trade war.The S&P 500 was down 1.4% in early trading following similar losses for stock markets across Asia and Europe. The Dow Jones Industrial Average was down 435 points, or 1%, as of 9:35…
On Saturday, US President Donald Trump imposed 25% tariffs on imports from Canada and Mexico, and 10% on goods from China. The move risks triggering a new trade war, which economists warn could hamper global growth and fuel inflation. Also Read: Donald Trump’s ‘sales pitch for Canada to join’ US as 51st state: ‘Big tax…
The number of trips to Hong Kong by mainland Chinese visitors rose 27 per cent year on year as the 2024 tally reached 34 million, according to official figures, with observers saying the uptick is likely to continue but expressing doubt over its economic impact. Hong Kong also recorded a 48 per cent year-on-year surge…
Christophe Barraud, with a strong track record of forecasting and known as the world’s most accurate economist, is turning his attention to the upcoming 2024 election and its potential economic impact. He anticipates that growth will pick up once the election results are in, as companies shake off uncertainty and start making decisions again. Republican…
A second phase of notices, if needed, could be rolled out in December, the source said. (Photo: Reuters) 5 min read Last Updated : Oct 15 2024 | 12:04 PM IST Thousands of Boeing staff will get layoff notices within weeks, a union and industry sources said, as a senior US official flew to…