Beijing has made its response, a rather ambiguous one, after a new tariff rate figure on China, as high as 245%, emerged from a White House fact sheet on Wednesday. Chinese Foreign Ministry spokesperson Lin Jian, as quoted by Global Times, said they should ask the US side for the “specific tax rate figures.” Speaking…
President Donald Trump’s administration exempted smartphones, computers and other electronics from its so-called reciprocal tariffs, potentially cushioning consumers from sticker shock while benefiting electronics giants including Apple Inc. and Samsung Electronics Co. The exclusions, published late Friday by US Customs and Border Protection, narrow the scope of the levies by excluding the products from Trump’s…
US President Donald Trump has further raised tariffs on small parcels sent to the United States from mainland China and Hong Kong to 120 per cent from 90 per cent, as the stand-off between Washington and Beijing escalates. The increase came just a day after the US administration had tripled that rate from 30 per…
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….
Chinese stocks’ world-beating rally faces a reality check after the US slapped a 34 per cent reciprocal tariff on imports from the mainland, casting a shadow on its fragile economic recovery. The levy is in addition to the existing 20 per cent tariff imposed by President Donald Trump shortly after he took office in January,…
Chinese stocks’ world-beating rally faces a reality check after the US slapped a 34 per cent reciprocal tariff on imports from the mainland, casting a shadow on its fragile economic recovery. The levy is in addition to the existing 20 per cent tariff imposed by President Donald Trump shortly after he took office in January,…
Barclays slashed its S&P 500 target to the lowest among the major banks, predicting that the index will end the year at 5,900. Before Wednesday, the firm held a 6,600 target but cut its outlook amid deteriorating economic data and tariff disruptions, which have paralyzed markets so far this year. RBC and Goldman Sachs have…
Whether the “R” word is on the horizon or not, troubling U.S. consumer data is beginning to pile up. Consumer sentiment is at a 15-month low, credit card delinquency is on the rise, and nearly half of U.S. adults don’t have three months of emergency savings. In such times, it could be tempting to dip…
US President Donald Trump has promised to impose reciprocal tariffs from April 2 on most of America’s trading partners, including India, for “having trade policies that are unfair to Americans”. Trump’s pledge of reciprocal tariffs came a day after his new 25 per cent tariffs on Canadian and Mexican imports took effect, along with a…
President Donald Trump on Thursday ordered his administration to consider imposing reciprocal tariffs on numerous trading partners noting that ‘the United States will no longer tolerate being ripped off’. A White House statement quoting President Trump said that despite the US having an open economy, its trading partners block US exports. “And reciprocal trade will…