President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed his administration had "succeeded where many others have failed," calling this the eighth war he has ended in less than a year. However, the reality on the ground is far more complicated, as fighting in eastern Congo continues despite the signing of the previous peace agreement. The agreement is not just about a ceasefire; it also concerns the mineral trade. The agreement grants US companies access...
A look at the day ahead in European and global markets from Wayne Cole. It's been a blessedly quiet start to the week, with President Trump more engrossed on his disappointment with Russia, than his trade war. In this case, silence is golden, as the White House's communication on trade has been a lot more noise than signal. Thus, Agriculture Secretary Rollins tells TV they are speaking with China every day, likely news to Beijing. Then Treasury Secretary Scott Bessent says he has not discussed tariffs with Chinese officials and doesn't know if Trump talked to Xi, as he claimed. Apparently...
U.S. President Donald Trump on Sunday said that his sweeping trade tariffs could help him cut income taxes for people making less than $200,000 a year, amid heightened anxiety over his economic agenda. Trump repeated his past claims that revenue from trade tariffs could help the U.S. government reduce income taxes, although he has not elaborated on these claims. "When Tariffs cut in, many people's Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year," Trump said in a post on Truth.Social. Trump's comments...
China exempted some US imports from its high tariffs on Friday in a sign that the trade war between the two countries may be easing, though China quickly dismissed US President Donald Trump's assertion that negotiations were underway. Business groups said China had allowed some US-made pharmaceutical drugs into the country without paying the 125% tariffs that Beijing imposed earlier this month in response to Trump's 145% tariffs on US imports. In addition, a list of 131 product categories that were said to be under consideration for exemptions has been circulating among some business and...
British retailers reported the best start to the year since 2021 in what may be a fleeting boost for the economy, with rising bills and the U.S. trade war increasingly weighing on consumer morale. Retail sales volumes rose by 0.4% in March alone, after downwardly revised growth of 0.7% in February, the Office for National Statistics said on Friday. A Reuters poll of economists had pointed to a month-on-month fall of 0.4%. For the first quarter as a whole, retail sales rose by 1.6% - the strongest reading in four years, and providing a 0.08 percentage point boost to overall economic output...
China's government is weighing the exemption of some U.S. goods from its 125% import tariffs, Bloomberg reported on Friday, as the country grapples with the high economic cost of a trade war. Officials are considering exempting levies on medical equipment and some industrial chemicals like ethane, Bloomberg reported, citing people familiar with the matter. Chinese officials are also considering waiving tariffs on plane leases, the report said. China's potential exemptions mirror those seen with the U.S., which excluded electronics from its 145% tariffs on Chinese imports, amid concerns...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
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 announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed...