President Trump said on Wednesday that he spoke to India’s Prime Minister Narendra Modi, in a move aimed at easing tensions between the two major economies as they clash over tariffs and New Delhi’s purchase of Russian oil. “He is doing a tremendous job,” Trump said. “Narendra: Thank you for your support on ending the…
By Jihoon Lee and Yena Park SEOUL (Reuters) -South Korea’s negotiations with the U.S. on a trade deal to lower tariffs have stalled amid concerns over the foreign exchange implications of a $350 billion investment fund, part of an agreement reached with President Donald Trump in July. WHAT HAS JAPAN AGREED TO? South Korean officials,…
President Trump on Monday said a 15% tariff on imports from South Korea will hold despite President Lee Jae Myung’s visit to Washington, D.C. “We stuck to our guns,” the president said after the meeting. The two countries struck a trade deal in July, allowing South Korea to avoid a stiffer 25% tariff, but tensions…
South Africa will offer a “generous” new trade deal to the United States on Tuesday to avoid 30-percent tariffs, government ministers said. US President Donald Trump meets with South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, DC, on May 21, 2025.(AFP) Washington on Friday slapped the huge tariff…
President Donald Trump just showed markets that he doesn’t always chicken out. Trump’s August 1 tariff deadline has arrived, and a barrage of new and amended import duties sent the stock market tumbling in Friday’s session. The updated tariffs don’t officially kick in until August 7, meaning nations still have some time to reach a…
Taiwanese President Lai Ching-te canceled his United States visit to New York City and Dallas after U.S. President Donald Trump’s administration urged him to avoid a stopover in the Big Apple, according to a report from the Financial Times. A foreign affairs expert said the cancellation is likely to raise tensions between the two nations…
India and the UK signed the Comprehensive Economic and Trade Agreement (CETA) on July 24, which is expected to revitalise India’s textile sector by providing a much-needed level playing field with competitors such as Bangladesh, Vietnam and Pakistan. The trade deal removes the tariff on textile imports from India, enhancing competitiveness for a sector that…
Bullish exuberance among retail traders drove a new meme stock rally this week. According to Goldman Sachs, it’s just the latest episode in “one of the sharpest short squeezes on record.” And while it’s got room to run, it also raises the risk of a downturn, the bank said. Analysts said this week’s rally in…
Tesla shares nosedived as Elon Musk warned investors about future earnings (JUSTIN SULLIVAN) Stock markets mostly bumped upwards Thursday as hopes grew that the European Union could strike a trade deal with the United States, while Tesla shares nosedived on poor earnings results. Investors have profited in recent weeks from wagers that governments will eventually…
The pound (GBPUSD=X, GBPEUR=X) was steady against the dollar on Wednesday, up 0.1% to trade at $1.3546, with fear of tax rises in the autumn capping further gains. The latest UK government borrowing figures has increased concerns over tax hikes in the autumn as well as unsettling the bond market which has hit the pound…