WORLD TRADE ORGANIZATION
Funding woes force UN to weigh massive overhaul
The United Nations is contemplating a significant restructuring, potentially merging numerous agencies into four main departments amid funding challenges exacerbated by US aid cuts. This overhaul could consolidate humanitarian operations, integrating entities like the World Food Programme and WHO.
India and Japan may get better trade deals with US amid its trade war with China: Jefferies
Amid US-China trade tensions, a Jefferies report suggests India and Japan could negotiate favorable deals with the US. However, these nations are unlikely to jeopardize their growing trade relations with China, their major trade partner. China has warned against deals harming its interests, highlighting the challenge for the US in isolating China through trade strategies.
Where things stand in the US-China trade war
China has said it has received overtures from the United States for talks on tariffs -- but warned it will need concessions as proof of "sincerity" before any negotiations can take place. "China is certainly willing (to negotiate), and so is evaluating and observing the US side's sincerity -- is it all just bluff and bluster... or is it actually something real that could yield plans for serious talks?"
Terror attack in Kashmir does not reflect the teachings of Islam practiced in Indonesia: Prez Prabowo
President Prabowo met with the Indian Ambassador to Indonesia. He conveyed his condolences regarding the Kashmir terror attack. Prabowo stated the attack did not reflect Indonesian Islamic teachings. He emphasized the importance of controlled military influence in democracies. Both leaders previously condemned terrorism during Prabowo's visit to India. They agreed to enhance cooperation against terrorism.
Pentagon's AI metals program goes private in bid to boost Western supply deals
Armed with the AI model, the CMF aims to help manufacturers curb their reliance on China by signing more metal supply deals with Western mines, according to more than two dozen industry consultants, purchasing agents, analysts, regulators and investors who told Reuters the program reflects one of the boldest efforts to date to transform the ways certain metals are bought and sold.
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.
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Trump company strikes Qatari golf resort deal in sign it's not holding back from foreign business
The Trump family's company has entered into a deal to construct a luxury golf resort in Qatar, raising concerns about potential conflicts of interest during a possible second Trump administration. This project, involving Trump-branded villas and a golf course developed by a Saudi Arabian company and a Qatari government-owned firm, marks the first foreign deal since Donald Trump's initial term.
From Tokyo to Los Angeles, workers observe May Day as many express worries about Trump
Across the globe, from Tokyo to Jakarta and major U.S. cities, workers rallied on May Day, advocating for labor rights and social justice. In Japan, marchers voiced concerns over economic inequalities and global conflicts, while Indonesians demanded better wages and protections. U.S.
Crypto industry descends on Dubai as Trump euphoria recedes
Crypto enthusiasts gathered in Dubai for TOKEN2049, amidst mixed sentiments regarding Donald Trump's impact on the industry. Despite a strong start to the year with significant venture capital investments, concerns linger about the pace of pro-crypto regulation and the global economy.
US, UK, Canada quiz India's SPECS scheme, sops at WTO
The US, UK, and Canada have raised concerns at the WTO regarding India's Make in India initiative and various subsidy programs. Questions were specifically directed towards the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), fisheries subsidies, and agricultural support. India has addressed some queries and promised further information on fish-related subsidies and state-level industrial incentives.
Canada ready to challenge Trump amid tariff war? Mark Carney's win sparks global debate
Mark Carney led the Liberals to victory in Canada, potentially positioning himself as a global counterweight to Trump's protectionism. His win, fueled by Canadian backlash against Trump's policies, may offer lessons for other nations. While facing a minority government, Carney aims to strengthen Canada's economy and build alliances to mitigate U.S. tariffs, navigating a delicate balance with the Trump administration.
View: US exit from IMF would be true dollar shock
The U.S. dollar faces a tough start in 2025. Trump administration's policies are causing unease. A potential U.S. exit from the International Monetary Fund could weaken the dollar. This move may unravel overseas dollar reserves. Experts warn of significant consequences for the dollar's global role. The future of America's financial status is uncertain.
Oil falls as economic jitters dampen demand outlook
Crude oil prices experienced a decline in early Asian trading due to investor concerns about demand growth amid the ongoing U.S.-China trade war. Economists fear a potential global recession driven by tariffs, leading to lowered oil demand and price forecasts. Increased output from OPEC+ nations and rising U.S. crude oil stockpiles further contribute to the downward pressure on prices.
Bullet train to be operational by 2028: Maharashtra CM Devendra Fadnavis
Maharashtra CM Devendra Fadnavis announced the Mumbai-Ahmedabad bullet train, a collaboration with Japan, is expected to be operational by 2028. The state aims to raise USD 50 billion for infrastructure development and is progressing on the Vadhavan port, set to be operational in 3-4 years, featuring an adjoining airport and a bullet train halt.
Trump's visa crackdown will scare future world leaders off US campuses
Donald Trump's administration weakened America by disrupting international student networks. Visa revocations and hostility deterred talented individuals from studying in the US. This damaged America's soft power, as future leaders missed out on American education. Networks formed in US universities benefited America in global negotiations. The US risks losing innovation and influence to countries like China.
How Trump could champion fair trade — and save the WTO
US economic policy lacks strategic clarity. Donald Trump is alert to financial markets. His approach to trade may shift significantly. A reconstructed World Trade Organization is possible. Trump paused tariffs and mentioned potential tariff reduction on China. He also mentioned that he has no plans to fire Federal Reserve Chair Jerome Powell. Financial markets protested forcefully against his decisions.
Chemical chaos: Trump’s tariffs push small Indian chemical firms to the brink
US tariffs pose new hurdles for India's chemical sector. Experts suggest strategies like trade deals, domestic production boosts, and market diversification. MSMEs also need data access and simplified regulations.
Trump’s China tariffs set to unleash supply shock on US economy
Companies are looking for alternative suppliers. The situation could worsen if tariffs remain in place. The US economy may face a recession.
Oil edges up despite murky economic outlook, potential OPEC+ supply hike
Oil prices saw a slight increase in early trading. However, trade talk uncertainties between the U.S. and China continue to weigh on the market. The prospect of OPEC+ potentially increasing supply adds to the gloom. Conflicting signals from Donald Trump and Beijing regarding trade progress are also impacting the market.
WTO gives Taiwan, India more time on IT duty dispute
India and Taiwan get more time on import duty dispute. The World Trade Organization (WTO) has accepted their request. They wanted to delay the ruling on import duties. These duties are on certain information and technology products. This is the seventh time the decision is postponed. The dispute started in 2019. Japan, the EU, and Taiwan challenged India's import duties.
India, Pakistan trade miniscule; now will come to complete halt: Exporters
Following a terror attack in Pahalgam, India faced trade suspension from Pakistan. This includes routes through third countries. The Federation of Indian Export Organisations (FIEO) says bilateral trade was already minimal. India's exports to Pakistan included organic chemicals and pharmaceuticals. Imports were meagre. Trade relations soured after the Pulwama attack. India had withdrawn Most Favoured Nation status.
US-Canada-Mexico joint World Cup goes from unity to acrimony thanks to tariffs and ''51st state'' talk
The 2026 World Cup in North America faces potential challenges. Donald Trump's return and trade tensions raise concerns. These concerns are about organization, travel, and international relations. Despite worries, officials remain optimistic. They believe the event will proceed successfully.
Oil prices set for weekly loss on potential for more global supply
Oil prices saw a slight increase on Friday but are heading for a weekly loss due to potential OPEC+ output increases and hopes for a Russia-Ukraine ceasefire. These factors could boost supply while conflicting U.S. tariff signals create uncertainty about demand. Successful talks with Iran and Europe could also lead to increased oil exports.
IMF chief urges countries to move 'swiftly' to resolve trade tensions that threaten global growth
The IMF urges swift resolution of trade disputes, citing the threat to global economic growth from Trump's tariffs. Uncertainty caused by these policies is delaying investments and consumer spending, leading to a downgraded global outlook. The IMF also warns that poorer countries will be disproportionately affected by the economic fallout from trade conflicts, as the chances of recession increases.
Is China really negotiating with Trump? The truth behind tariff talks
China refuted claims of active tariff negotiations with the U.S., dismissing them as baseless. This response follows Trump's suggestion of potential tariff reductions. Chinese officials emphasized their openness to dialogue based on mutual respect and equality. They insisted that resolving the trade dispute requires the U.S. to completely remove all unilateral tariffs imposed on China.
Nestle beats first-quarter organic sales estimates
Nestle saw a rise in sales. The company's first-quarter organic sales grew more than expected. This is because the price of Kit-Kat and Nescafe increased. CEO Laurent Freixe says the company is maintaining its 2025 outlook. Nestle expects organic sales growth to improve. The company estimates a profit margin at or above 16%.
America under Trump is turning its back on the world faster than feared
President Trump's second term has been marked by a shift towards isolationism and disregard for established international norms. Budget cuts are decimating the State Department, shrinking America's global presence, and undermining alliances like NATO. Trump's policies signal a retreat from global leadership, potentially leading to a more unstable and dystopian world order.
WTO slashes 2025 trade growth forecast, warns of deeper slump
The World Trade Organization has significantly lowered its global merchandise trade forecast, now anticipating a 0.2% decline this year due to increased U.S. tariffs and related repercussions. This downturn, potentially the worst since the COVID-19 pandemic, raises concerns about broader economic consequences, especially for developing nations. The WTO also fears a decoupling of the U.S.
NVIDIA: Can the world’s top AI chipmaker survive without China? $5.5B wiped as Washington tightens grip on trade
Nvidia expects a $5.5 billion hit after the U.S. tightened export rules on its H20 AI chips bound for China. The move, meant to limit Beijing’s access to supercomputing tech, also hit AMD and sent tech stocks tumbling. Nvidia’s losses come from unsellable inventory and cancelled orders. Wall Street reacted sharply, with the Nasdaq falling steeply. While the U.S. pushes back against China’s AI ambitions, analysts question whether hardware restrictions alone can stall Beijing’s progress.
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