Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
Britain's finance minister said on Tuesday she was hopeful of securing a trade deal with the U.S. to avoid possible trade tariffs, but warned Britain was still likely to be hurt by duties imposed on other countries. Countries worldwide are scrambling to shield themselves from potential tariffs during U.S. President Donald Trump's second term in office. His administration's new tariffs on imports from Mexico and Canada, along with a doubling of duties on Chinese goods, took effect earlier on Tuesday. "I think there's every reason to be hopeful about coming to some sort of a trade deal,"...
China has retaliated against the new US tariffs by increasing import levies on a range of American agricultural and food products. The tariff increases announced Tuesday range from 10% to 15%. In addition, China has imposed export and investment restrictions on 25 US companies, citing national security concerns. China's foreign ministry said Tuesday that if the United States is determined to launch a trade war or tariffs, China will respond accordingly. The response will come in the form of countermeasures aimed at protecting China's rights and interests, according to ministry spokesman Lin...
On Tuesday (04/03), China swiftly retaliated against the new US tariffs by announcing a 10%-15% increase in import tariffs covering a range of American farm and food products, as well as imposing export and investment restrictions on 25 US companies. COMMENTARY: OLE HANSEN, HEAD OF COMMODITY STRATEGY, SAXO BANK "From a pricing perspective, this comes at a very bad time for US corn prices, which are already under selling pressure from hedge funds who have in recent months amassed very large and sustained bets on higher prices. "This will further increase China's dependence on Brazilian...
Asia-Pacific markets were set to fall Tuesday, tracking Wall Street declines overnight after U.S. President Donald Trump made it clear that tariffs on Mexico and Canada would go into effect as planned. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 37,345 while its counterpart in Osaka last traded at 37,300, against the index's last close of 37,785.47. Japan's employment rate for January came in at 2.5%, slightly higher than Reuters' estimates of 2.4%. Futures for Hong Kong's Hang Seng index stood at 22,910 pointing to a weaker open compared to...
President Donald Trump confirmed Monday that tariffs on Mexico, and Canada are set to go ahead on Tuesday as both nations have now run out of room to negotiate a deal. Starting on Tuesday, all imported products from Canada and Mexico will be subject to 25% import duties. Trump has pointed to the lack of effort from Mexico and Canada to shore up their borders with the U.S. to stem the flow of the "vast amounts" of fentanyl that have poured into the United States. "No room left for Mexico or for Canada," the president told reporters at the White House. "The tariffs, you know, they're all...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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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...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...