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...
Private business in the US added 62k workers to their payrolls in April of 2025, less than half of the downwardly revised 147k payrolls in the previous month and well below market expectations of 115k. It was the softest increase since July of last year, underscoring the impact of tariffs by the US government on businesses' intake of new labor. New employment rose by 34k in service providing industries, with increase in trade/transportation/utilities (21K) and financial activities (20K) offsetting the sharp declines in education/health services (-23K), and information (-8K). In turn,...
China has created a list of U.S.-made products that would be exempted from its 125% tariffs and is quietly notifying companies about the policy, two people familiar with the matter said, as Beijing seeks to ease the impact of its trade war with Washington. China has already granted tariff exemptions on select products including select pharmaceuticals, microchips and aircraft engines and was asking firms to identify critical goods they need levy-free, Reuters reported on Friday. However, the existence of a so-called 'whitelist' had not been previously reported. The quiet approach allows...
U.S. President Donald Trump on Tuesday approved additional relief for domestic automakers from his 25% vehicle and auto parts tariffs set in motion less than a month ago, saying it would help the industry to move more production back to the U.S. Trump's latest orders mark the latest softening of his multi-layered tariff assault on trading partners as he seeks to negotiate deals aimed at lowering other countries' trade barriers to U.S. exports. Earlier this month, Trump's administration exempted smartphones, computers and other electronics largely made in China from triple digit tariffs at...
President Donald Trump again criticized Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during an event Tuesday to mark his 100 days in office. "Inflation is basically down and interest rates are down despite the fact that I have a Fed guy that's not really doing a very good job," Trump said at a rally outside Detroit, Michigan. The president's criticism came despite saying earlier this month that he had no plans to fire the central bank chief, despite ongoing criticism of the Fed's pace of interest rate cuts. The uncertainty surrounding...
U.S. President Donald Trump resumed his criticism of the Federal Reserve on Tuesday evening, claiming that Chair Jerome Powell was not doing a good job and that he knew more about interest rates. Speaking at a rally in Warren, Michigan, commemorating his first 100 days in office, Trump did not mention Powell by name, but largely hinted at his past criticism of the Fed Chair. "Interest rates came down despite the fact that I have a Fed person who's not really doing a good job, but I won't say that… I want to be very nice and respectful to the Fed," Trump said. "You're not supposed to...
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...