Members of the Brics nations logged into a virtual summit on Monday, convened by Brazilian President Luiz Inacio Lula da Silva, intending to take a defiant stand against US President Donald Trump’s escalating trade war. Instead, the quickly assembled outing became an exercise in caution, as the bloc’s heavyweights, Brazil and India, sought to steer…
By Mike Dolan LONDON (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets The dollar is on course for its best week of the year, as unfolding U.S. trade deals are succeeding in raising tariffs without attracting much retaliation or causing major economic damage so far. A…
Stock markets in the US and worldwide continued sinking on Monday after the new US tariff policy began collecting duties and global trade tensions continued to rise. President Trump and his top advisers dug in over the weekend, with the president suggesting that equity markets may need to “take medicine” and posting that the new…
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….
Markets have been hammered by Donald Trump’s decision to impose sweeping tariffs on all trading partners (SAUL LOEB) Equity markets suffered a bloodbath Thursday after Donald Trump delivered a “haymaker” blow with sweeping tariffs against US partners and rivals, fanning a global trade war that many fear will spark recessions and ramp up inflation. Tokyo’s…
US president Donald Trump The US President Donald Trump announced that his upcoming reciprocal tariffs will affect all countries globally, rather than being limited to 10-15 nations with significant trade deficits.Trump plans to reveal an extensive tariff scheme on Wednesday, which he refers to as “Liberation Day.” Previously, he has implemented duties on aluminium, steel,…
President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike. The regulations that have controlled international commerce for many years are being overturned by President…
Whenever interest rates climb, so do calls to unpeg the Hong Kong dollar from the US currency. With US interest rates elevated and the Hong Kong dollar hitting a 3½-year high against the American dollar earlier this month, the debate has flared up again. Some argue that the dollar peg limits Hong Kong’s monetary flexibility…