ON “LIBERATION DAY” President Donald Trump upended more than half a century of American trade policy by imposing sweeping tariffs on imports. These are off-the-charts in their historic significance. From just 2.3% in 2024, the average American tariff on imports is now expected to rise immediately to about 30%—where it was in the late 1800s….
U.S. stocks tumbled to one of their worst days of the year after the Federal Reserve hinted Wednesday it may deliver fewer shots of adrenaline for the U.S. economy in 2025 than earlier thought.The S&P 500 fell 2.9%, just shy of its biggest loss for the year from the summer, to pull further from its…
Aerial view of the construction site of a petroleum products storage facility belonging to Brightoil Petroleum (Holdings) Limited on Waidiao Island on August 8, 2022 in Zhoushan, Zhejiang Province of China. VCG | Visual China Group | Getty Images Oil prices edged higher on Thursday, recouping some of the more than 1% losses from the previous…
The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China’s somewhat disappointing weekend stimulus announcements the focus of market attention. Alfexe | Istock | Getty Images The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving…
The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need to rush to cut interest rates. Iryna Ustenko | Istock | Getty Images The dollar rose to a one-month high versus the yen on Thursday as…
In July, Hong Kong continued to post strong double-digit growth in external trade, increasing the total value of merchandise trade in the first seven months to a solid 10.1 per cent year on year. The city’s strong trade performance brought few cheers, as the continued slump in retail sales, which declined a further 11.8 per…