US President Donald Trump has threatened to impose heavy tariffs on the United Kingdom (UK) if it does not remove its digital services tax on American technology companies, escalating tensions between the two long-standing allies. Read More: UK to end tariff exemption on low-value imports In an interview with The Telegraph, Trump described the UK’s tax policy as […]
trade war
Supreme Court strikes down Trump tariffs in landmark ruling
WASHINGTON, DC — In a landmark decision, the US Supreme Court ruled that President Donald Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) by imposing sweeping tariffs without explicit congressional approval. Authored by Chief Justice John Roberts, the ruling invalidates tariffs on key US allies, including Canada and Mexico, as well […]
Gold and silver reach record highs on tariff fears
Global markets witnessed strong safe‑haven demand on Monday as gold and silver prices climbed to record levels amid renewed trade tensions after U.S. President Donald Trump threatened tariffs on several European nations in a dispute over Greenland. Spot gold rose sharply, peaking near all‑time highs above $4,680 an ounce, while spot silver also surged, touching […]
World markets jitter as US threatens tariffs over Greenland
LONDON: Global markets faced fresh volatility on Sunday after US President Donald Trump threatened tariffs on eight European nations over Greenland. The proposed measures include a 10% import tariff starting February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Britain, rising to 25% on June 1 if a deal is […]
US, China race to prevent trade clash in Malaysia summit
Top US and Chinese officials are meeting in Kuala Lumpur to prevent a trade war escalation. The talks aim to keep next week’s Trump-Xi summit on track. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng. The meeting is the fifth since May, following previous talks in […]
US dollar steady ahead of inflation data
SINGAPORE – The US dollar held firm on Friday, heading for a modest weekly gain as investors awaited delayed US inflation data and anticipated that the Federal Reserve would proceed with an interest rate cut next week. The dollar index stood at 98.92, on track for a 0.37% weekly rise, while the euro and sterling […]
Trump administration mulls sweeping export curbs on China
WASHINGTON: The Trump administration is weighing a sweeping plan to restrict software-powered exports to China, including items ranging from laptops to jet engines, in retaliation for Beijing’s latest rare earth export controls, according to US officials and sources briefed on the deliberations. The proposed measure, not yet finalized, would target global shipments containing US software […]
China’s Trade Surges Despite Looming Tariff Escalation with U.S.
BEIJING – China’s overseas trade grew faster than expected in September, offering a rare boost for its struggling economy just as fears rise over a fresh escalation in the U.S.-China trade war, official data showed Monday. According to the General Administration of Customs, exports jumped 8.3% year-on-year, well above a Bloomberg forecast of 6.6%, while […]
Bitcoin drops 8% as Trump’s tariff war with China rattles global markets
NEW YORK – Bitcoin, the world’s biggest cryptocurrency, dropped 8.4% on Friday after US President Donald Trump intensified his trade fight with China. Trump announced 100% tariffs on Chinese exports to the US and new export controls on “critical software,” following China’s limits on rare earth exports used in tech and manufacturing. Read More: Crypto […]
China moves to ease trade war pain with targeted tariff exemptions
China has started exempting certain U.S. goods from its steep 125% tariffs, aiming to soften the economic damage from the ongoing trade war. The Chinese government is also asking local companies to list essential U.S. imports that cannot be sourced elsewhere, signaling a willingness to reduce trade tensions. This move comes after Washington’s recent efforts […]