U.S. TARIFF
US-China tariff talks to continue Sunday, as Trump touts 'great progress made'
President Trump hailed “great progress” in US-China tariff talks in Switzerland, suggesting a possible “total reset.” While no major breakthrough occurred, negotiations will continue. Trump aims to ease trade tensions affecting global markets. Talks with Swiss leaders also addressed US tariffs on Swiss goods, prompting cautious Swiss responses amid economic concerns.
Tariff talks begin between US and Chinese officials in Geneva as the world looks for signs of hope
U.S. officials initiated discussions with their Chinese counterparts in Geneva, aiming to de-escalate trade tensions marked by escalating tariffs. While a major breakthrough seems unlikely, both nations hope to scale back tariffs on each other's goods, potentially easing pressure on global markets.
US stock market today: Wall Street slips as Dow drops 113 points, S&P 500 and Nasdaq dip 0.3%—Trump eyes 80% China tariff, UK trade deal offers hope — will trade talks calm the storm or fuel more turmoil?
US stock market today: Stocks fall Friday as traders grow cautious ahead of key U.S.-China trade talks. The Dow dipped 113 points, while the S&P 500 and Nasdaq both slipped 0.3%. Tensions remain high with President Trump suggesting an 80% tariff on China, down from the current 145%. Meanwhile, a new trade deal with the U.K. offers hope but uncertainty looms. Companies like Coinbase, Expedia, and Monster Beverage also moved on weak earnings. Investors are watching closely as the weekend's talks could shape markets going forward. Will the China talks ease pressure, or spark more volatility?
Will Trump's proposal to cut tariffs on China to 80% signal a shift in trade policy?
Donald Trump is thinking about reducing tariffs on China. This is before important meetings between officials from the United States and China in Switzerland. These talks aim to reduce trade tensions. Trump mentioned a possible tariff decrease on social media. Top officials from both countries will discuss trade matters. This happens amid worries about the effect of tariffs on prices.
Trump gives big threat to stop barbie dolls in the US. His remarks create buzz online
President Trump has said he will put a '100 percent' tariff on Mattel to prevent them from selling toys if they manufacture somewhere else. The President's remarks came after toy-maker Mattel CEO said tariffs will not increase toy production inside the US. Approximately 20 percent of Mattel’s toy imports to the US come from China.
India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump
India has proposed reducing its tariff gap with the U.S. to under 4% from nearly 13% in exchange for exemption from U.S. tariffs. This offer includes zero duties on 60% of tariff lines initially and preferential access to nearly 90% of U.S. goods. India seeks preferential market access for key sectors and parity with U.S. allies in critical technologies.
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As trade talks begin, Chinese exporters prepare to get goods moving to US again
Following tariff-induced cancellations, China-based shipping agents are resuming container space purchases for U.S.-bound goods as trade talks loom. U.S. retailers, facing potential empty shelves due to inventory depletion, are restarting shipments despite existing tariffs. While optimism for tariff reduction grows, some experts caution that a swift resolution to the trade war remains unlikely.
China's April exports beat expectations, imports narrow declines
China's exports surprisingly rose by 8.1% in April, while imports saw a slight decrease of 0.2%, defying predictions of a significant trade slowdown. This data follows a previous surge in exports in March, preceding increased U.S. tariffs on Chinese goods. As trade tensions escalate with retaliatory tariffs, officials from both nations are set to meet in Switzerland for trade negotiations.
China says it has full confidence in ability to manage US trade issues
Chinese Vice Foreign Minister Hua Chunying expressed confidence in China's ability to manage U.S. trade issues ahead of crucial talks in Switzerland. Hua asserted that the U.S. trade policy is unsustainable, emphasizing the impact of tariffs on ordinary Americans. Despite not wanting conflict, China is prepared to face challenges and believes the U.S. will eventually return to a normal approach.
Oil prices little changed ahead of Sino-US trade meeting
Oil prices remained steady on Friday after a previous surge, buoyed by easing U.S.-China trade tensions and a new U.S.-Britain trade agreement. Brent crude is at $62.91 a barrel, while WTI is at $59.98. U.S. and China will meet to resolve trade disputes, while Britain lowered tariffs on U.S. imports.
EU approves 5 billion euro French scheme for wine exports to US
The European Commission has approved a 5 billion euro French scheme to facilitate wine and spirits exports to the U.S. until July 2025, aiming to help exporters ship inventory before potential new tariffs. This action coincides with the EU proposing countermeasures on U.S. imports in response to existing U.S. tariffs, potentially triggering retaliation in the alcohol sector.
Donald Trump announces a comprehensive trade deal with Britain; here is the total breakdown, how will both the nations benefit?
Donald Trump UK trade deal headlines global news as the U.S. and Britain seal a major post-Brexit economic pact on VE Day. The deal slashes tariffs on UK car and steel exports, opens UK doors to U.S. beef and ethanol, and boosts tech ties in AI, 5G, and aerospace. Both countries aim to grow jobs, exports, and investment while reinforcing a strategic alliance. With tariff reductions and deeper cooperation across key sectors, this agreement sets the stage for stronger economic futures on both sides of the Atlantic. Dive into how this historic trade deal impacts industries, jobs, and global trade dynamics.
EU sets out possible 95 bln euro response to U.S. tariffs
The European Commission proposed countermeasures on up to 95 billion euros of U.S. imports if negotiations fail to remove U.S. tariffs. These measures target U.S. goods like wine, aircraft, and chemicals. The EU prefers a negotiated solution but prepares retaliatory responses for July, potentially escalating trade tensions.
Bank of England cuts rates to 4.25% as it sees tariff hit to growth
The Bank of England reduced interest rates to 4.25% amidst a divided Monetary Policy Committee, influenced by concerns over U.S. tariffs and their impact on global economic growth. While some members advocated for a larger rate cut, others preferred to maintain the current rate.
EU ready to fight back against US tariffs with aggressive countermeasures? Trade chief's big hint
European Commission is set to reveal its strategy against US tariffs if negotiations falter. Maros Sefcovic announced preparatory steps, including rebalancing measures. EU aims for a fair deal, not succumbing to pressure. Tariffs on Boeing jets are considered. This follows a pause in retaliatory tariffs after Donald Trump suspended higher US duties.
China agreed to U.S. tariff talks but is likely to play hardball
China agreed to trade talks with the U.S., aiming to portray itself as responsible amid global economic concerns. Despite maintaining a firm stance against coercion, Beijing softened its position due to the economic impact of trade tensions. Both nations seek tariff reduction, but the path to a deal remains uncertain, with initial talks focusing on de-escalation.
Can Schaeffler navigate US tariffs and industry softness to meet its full-year forecast?
Schaeffler, a German machine and car parts maker, saw its first-quarter revenue decline. The revenue fell short of market predictions. The company attributes this to industry softness. However, Schaeffler believes the impact of US tariffs is manageable. CEO Klaus Rosenfeld acknowledges a challenging market. Trade conflicts create planning difficulties. The company is assessing how to handle tariff costs.
Pharma imports to US surged in March as drugmakers look to avoid tariffs
U.S. pharmaceutical imports surged in March, exceeding $50 billion, as drugmakers stockpiled inventory in anticipation of potential tariffs threatened by President Trump. Imports from Ireland, a major drug exporter, significantly increased, surpassing China in trade surplus with the U.S. Major pharmaceutical companies like Pfizer and Merck have proactively increased their inventories to mitigate the impact of the anticipated tariffs.
Donald Trump’s tariff strategy backfires as U.S. trade deficit soars to record-breaking high, raising alarms over the President's economic plan
The US trade deficit reached a record high in March. This raised concerns about Donald Trump's tariff policies. Companies imported goods before tariffs took effect. The goods trade deficit rose significantly. The services trade surplus decreased slightly. Trump paused tariffs for most countries except China for trade negotiations. He aims to secure better trade deals for the US.
Carney Trump Meeting: the timing behind today’s crucial White House summit explained
Carney Trump White House Time: Canadian Prime Minister Mark Carney is scheduled to meet with U.S. President Donald Trump at the White House today, commencing with a working lunch at 12:30 PM ET. The meeting occurs amidst tariff escalations and discussions about Canadian sovereignty. The carefully timed schedule allows for maximum media coverage, as both leaders address critical issues in the U.S.-Canada relationship.
Can the EU navigate US tariff threats while building global trade alliances? Check details
European Union asserts it faces no pressure to accept an unfair tariff deal from the United States. Maros Sefcovic states the EU is preparing rebalancing measures if talks fail. The EU aims for a fair agreement but explores trade opportunities with India, Indonesia, and other nations. Many countries are contacting the EU to accelerate free trade negotiations.
China's services growth hits 7-month low as tariffs bite, Caixin PMI shows
China's services sector experienced its slowest expansion in seven months in April, as the Caixin PMI fell to 50.7, impacted by U.S. tariffs and subdued business sentiment. New business growth weakened, leading to job cuts and price reductions by service providers. Policymakers are urged to take action to mitigate the effects of the ongoing trade standoff.
Oil steadies after falling to four-year lows in previous session
Oil prices stabilized after a significant drop. This decline followed OPEC+'s decision to increase oil production. Concerns about oversupply grew due to rising US tariffs. Diamondback Energy reduced its output forecast. Barclays lowered its Brent crude forecast. The US Federal Reserve is expected to hold interest rates steady. Treasury Secretary Scott Bessent defended Trump's economic agenda.
Canada faces a summer of shortages even after Mark Carney's victory, here's the reason behind it
Canada faces a summer of shortages even after Mark Carney's victory, and the story behind it is more serious than it first seems. With U.S. President Donald Trump imposing steep tariffs on Canadian goods, Canada’s economy is feeling the heat—from rising inflation to empty grocery shelves. Despite Carney’s election win and strong stance on trade, Canadians could see job losses, higher prices, and slower growth.
Jaguar Land Rover restarts car exports to the US, London's Times reports
Jaguar Land Rover has resumed sending cars to America. Shipments had stopped because of tariffs imposed by the United States. The first vehicles left Britain on Wednesday after almost a month-long pause. Tata Motors owns Jaguar Land Rover. Aston Martin will share the tariff costs with its customers. The United States is a major market for British cars after Europe.
Airbus urges return to zero-tariff deal as first quarter beats forecasts
Airbus CEO Guillaume Faury advocates for a return to tariff-free aerospace trade, echoing U.S. industry concerns amid escalating trade tensions. While first-quarter results exceeded expectations, driven by defense improvements, Airbus faces engine delivery delays and challenges with Spirit AeroSystems impacting aircraft production. Constructive talks are underway regarding the A400M military airlifter's future production.
As exports from China plunge, the U.S. faces an impending shortage of goods; here's what Americans should know
China exports to U.S. plunge as record-high tariffs take hold, leading to fears of product shortages across American stores. With U.S. import duties on Chinese goods now at 145%, major retailers like Walmart and Target warn shelves could soon empty. Container bookings from China have dropped as much as 60%, and shipping volumes at key ports like Los Angeles are falling fast. Small businesses say they may not survive these added costs. As trade tensions rise, the U.S. faces a critical supply chain crunch that could hit everyday items like clothing, furniture, and electronics. This is a story you can't miss.
UK takeover panel gives Qualcomm more time to make bid for Alphawave
Earlier this month, Alphawave had abstained from providing a financial forecast due to uncertainty stemming from the "rapidly developing nature" of US tariffs. The British company has been garnering takeover interest from the likes of Qualcomm and Arm for a crucial technology, known as "serdes", used for building AI processors.
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