US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last October. This move aims to ease trade tensions between the world's two largest economies. Trump also announced a freeze on reciprocal tariffs imposed on Chinese goods. This freeze will remain in effect, providing some relief to companies engaged in international trade with China. This policy is expected to help ease trade tensions that have persisted for the past few years. This tariff cut will...
Barrick Mining CEO Mark Bristow said on Monday that the gold industry is awaiting clarity from the White House regarding potential U.S. tariffs on gold bars, but added that, regardless of the outcome, the impact on miners would be minimal. According to a ruling published on the U.S. Customs and Border Protection service's website on Friday, Washington may place the most widely traded gold bullion bars in the U.S. under country-specific import tariffs. A White House official later told Reuters it would issue an executive order "clarifying misinformation". The ruling has disrupted global...
U.S. President Donald Trump avoided a question on Monday about whether he would extend an August 12 deadline for higher U.S. tariffs on Chinese goods, saying, "we'll see what happens," as he lauded China's cooperation in talks with the U.S. "We've been dealing very nicely with China. As you have probably heard, they have tremendous tariffs that they're paying to the United States of America," Trump said at a news conference at the White House. "They've been dealing quite nicely," he said, adding that he had a good relationship with Chinese President Xi Jinping. A tariff truce between...
President Trump's deadline for Russia to strike a peace deal with Ukraine passed without stricter US sanctions imposed on Moscow. This likely contributed to the recent weakness in crude oil prices, with Brent trading at its lowest levels since early June, ING's commodity experts Ewa Manthey and Warren Patterson note. Speculators are bearish towards the oil market "The market is focused on Trump's meeting with President Putin on Friday – and whether any progress towards a peace deal can be made. But with Russia demanding that Ukraine cede occupied territory to end the war, it's difficult to...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday. Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S. to 50% - among the highest on any American trading partner. The Indian government had taken into account the 25% tariff that Trump initially imposed on goods while providing Monday's estimate, Pankaj Chaudhary, India's junior finance...
From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against U.S. tariffs. India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta's WhatsApp and Domino's has more...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...