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...
Australia's unemployment rate jumped to 4.5% in September, its highest level since 2021. This figure was worse than expected and indicates that the labor market is starting to weaken. Data from the Australian Bureau of Statistics also showed that only 14,900 new jobs were added last month, although the labor force participation rate rose slightly to 67%. This situation has reinforced speculation that the Reserve Bank of Australia (RBA) may cut interest rates again as soon as next month. Following the release of this data, the Australian dollar fell 0.4%, while the yield on three-year...
Ukraine has imposed emergency power outages in all but two regions following a series of Russian attacks that have crippled the country's energy system, officials said Wednesday. Russia has stepped up attacks on Ukrainian energy facilities ahead of winter, seriously damaging gas production and plunging major cities, including the capital, Kyiv, into darkness. In a statement, the Ukrainian Energy Ministry said the impact of the recent attacks had forced it to implement the power outages. Planned power outages have been implemented in the eastern Donetsk and northern Chernihiv...
U.S. Trade Representative Jamieson Greer said on Tuesday that it was up to China whether the planned 100% tariffs on its exports would take effect on November 1 or sooner, noting it may be difficult for Beijing to find a way out. Speaking to CNBC, Greer confirmed that U.S. and Chinese officials held staff-level talks in Washington Monday and said there was still a chance to resolve the dispute over critical minerals restrictions. "We think we'll be able to work through it, but again, we can't have a situation where the Chinese keep this regime in place, where they want to have veto power...
U.S. President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October, U.S. Treasury Secretary Scott Bessent said, as both sides looked to ease tensions following fresh tariff threats and export controls. A return to an all-out trade war between the world's two largest economies appeared imminent late last week, after China announced on Thursday a major expansion of its rare earths export controls. Trump responded on Friday by threatening to raise tariffs on Chinese goods to triple-digits, sending markets and U.S.-China relations into a tailspin. But...
President Donald Trump arrived in the Egyptian resort of Sharm El-Sheikh on Monday for a summit with several other world leaders aimed at ensuring the US-led ceasefire deal for Gaza turns into a real peace deal. The leader flew in from Israel, where he addressed the country's parliament and was praised for last week's agreement that resulted in a weekend ceasefire in Gaza and the release of 20 surviving hostages held in the Palestinian territory. They were freed on Monday, as were nearly 2,000 Palestinians held in Israeli jails. "They played a very important role, and they had a very...
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...