In This Story The Federal Reserve may get stuck between President Donald Trump’s public demands for interest rate cuts and the central bank’s mandate to curb inflation after its favorite price measure picked up by more than expected in February. Gap is betting Old Navy and AI will help solidify its position in retail Core…
The EU is ready to mark 50 years of diplomatic relations with China by “deepening trade and investment cooperation”, its trade commissioner said in Beijing on Thursday, according to a Chinese readout. Maros Sefcovic made the remarks during a meeting with Chinese Vice-Premier He Lifeng, an account by Xinhua News Agency said. The meeting took…
Hong Kong is devoted to deepening its foreign ties, the city’s leader has said, while urging economies in Asia to promote bilateralism and reject protectionism amid a fast-changing geopolitical environment. Chief Executive John Lee Ka-chiu on Tuesday also called for more collaboration between the city and mainland China’s Hainan province to promote free trade and…
In the past week alone, Trump has placed tariffs on China, Mexico and Canada, the U.S.’s three biggest trading partners, and readied measures to challenge China’s dominance in shipbuilding. On Friday, the president upended U.S. foreign policy by opening talks with Russia to end the war in Ukraine—a move that some believe could be aimed…
S&P 500 firms could see an 8% hit to earnings if Mexico and Canada retaliate on tariffs, BofA says. Wall Street expects an EPS drawdown to dent the S&P 500’s rally. US earnings are otherwise set for strength amid upbeat corporate sentiment. A tit-for-tat trade war between the US and its neighbors could spell real…
India’s recent decision to reduce import duties on a wide range of products sends a clear message that the country is moving away from protectionist policies, according to the nation’s finance secretary Tuhin Kanta Pandey. A Bloomberg report said that Pandey emphasised on the fact that India is not embracing high tariffs as a means…
China must strive to be an “open source” country in trade and technology to champion globalisation – even as the United States resorts to protectionism – a prominent adviser to Beijing has said. Zheng Yongnian, dean of the school of public policy at the Chinese University of Hong Kong’s Shenzhen campus (CUHK-Shenzhen), also called on…
Chinese President Xi Jinping made a detailed pitch for globalisation, liberalised trade and shared economic growth on the Asia-Pacific Economic Cooperation’s sidelines in Peru on Friday, drawing a sharp contrast with the US as it turns increasingly inward. While Donald Trump was not mentioned by name in the 20-minute speech delivered at the CEO summit,…
The European Union must defend itself against the challenges from China and the United States without resorting to protectionism, former Italian prime minister Mario Draghi said Monday. EU must tackle China, US threats without being protectionist: Draghi Draghi, also the former head of the European Central Bank, delivered the strong message just weeks after warning…