ARCHIVE
ECONOMY
ARCHIVE

Trump raises tariffs on Chinese goods as trade war escalates

Saturday, 24 August 2019

Escalating his trade war with China, President Donald Trump bumped up his tariffs on Chinese imports Friday, lashing back after Beijing raised taxes on US products. In a tweet, Trump said he would be raising tariffs on $300 billion in Chinese goods from 10% to 15%. The Office of the US Trade Representative also said that on October 1 the US would hike tariffs on another $250 billion in Chinese imports from 25% to 30%. The move came hours after Beijing said it would hike tariffs on $75 billion ...

Global watchdog to monitor Pakistan’s progress in tackling militant funding

Saturday, 24 August 2019

The Financial Action Task Force (FATF) will monitor Pakistan’s progress in implementing a proposed plan against financing for militant organizations ahead of a meeting in October, the international watchdog body said on Friday. Its Asia Pacific Group on Money Laundering (APG) met in Canberra this week to discuss reports on countries including Pakistan, which was last year placed on a “grey list” of countries with inadequate controls over money laundering and ...

Fuel supplies halted to debt-ridden Air India

Friday, 23 August 2019

Air India called on Friday for government help after oil companies stopped supplying the debt-ridden national flag carrier with jet fuel at six domestic airports due to late payment of dues. “We have huge outstanding debts and are awaiting equity support from the government to maintain current operational levels,” Dhananjay Kumar, spokesperson of Air India told AFP. Air India owes three state-run oil firms more than 45 billion rupees ($630 million), Indian news agency Press Trust of ...

Navarro says China talks to continue, trade war won’t slow US economy

Friday, 23 August 2019

White House trade adviser Peter Navarro said on Friday he does not believe the trade war with China will cause higher prices or a slower economy in the United States. “We’ve had these tariffs in place for a very long time. China is bearing the entire burden by slashing their prices, by slashing their currency value and by the way they are hemorrhaging, hemorrhaging their supply chain out to the rest of the world and back here to America,” he said in an interview with Fox ...

Fed’s Bullard says a ‘robust debate’ is coming over steep rate cut

Friday, 23 August 2019

Federal Reserve policymakers will have a ”robust debate” about cutting US interest rates by a half percentage point at their next policy meeting in September, St. Louis Federal Reserve Bank President James Bullard said on Friday.         The Fed cut rates by a quarter-point at its July policy review although the minutes of that meeting showed a couple of policymakers favored a 50 basis point ...

China unveils retaliatory tariffs on US goods in deepening trade row

Friday, 23 August 2019

China unveiled on Friday retaliatory tariffs against about $75 billion worth of US goods, marking the latest escalation of a protracted trade dispute between the world’s two largest economies. China’s commerce ministry said in a statement it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States that include agricultural products, crude oil, small aircraft and cars. Tariffs on some products would take effect on Sept. 1 and others ...

EU hopes to ease trade tension with US at G7 summit, official says

Thursday, 22 August 2019

The European Union hopes to ease trade tensions with US President Donald Trump when the leaders of the world’s seven major advanced economies meet in France over the weekend, a senior EU official said on Thursday.             Transatlantic rifts are set to feature prominently when Trump arrives at the G7 summit in France to discuss differences over trade, Iran, and climate ...

Indonesia announces surprise rate to offset tepid global growth

Thursday, 22 August 2019

Indonesia's central bank announced a surprise interest rate cut Thursday as it looks to offset tepid global growth, after Southeast Asia's biggest economy posted its slowest quarterly expansion in two years.Bank Indonesia (BI) trimmed its key lending rate by 25 basis points to 5.5 percent – the second rate reduction in as many months – and signaled more cuts could be in store.“This is a pre-emptive measure to boost momentum,” said bank governor Perry ...

Japan says gaps remain with US on trade after ‘very tough’ talks

Thursday, 22 August 2019

Japanese Economy Minister Toshimitsu Motegi said on Wednesday there were still gaps that needed to be filled before Tokyo and Washington could agree on a bilateral trade deal and that negotiations with his US counterpart were “very tough.” Motegi is visiting Washington, D.C., for talks with US Trade Representative Robert Lighthizer, where the two sides hope to narrow gaps on areas such as agriculture and automobiles in order to clinch an early bilateral deal. “Issues that ...

Argentine presidential front-runner seeks alternatives to austerity: Advisers

Thursday, 22 August 2019

Economic advisers to Argentina's presidential front-runner and opposition leader Alberto Fernandez said he would seek alternatives to the current administration's austerity measures in a meeting with the new Treasury Minister on Wednesday. Center-left Peronist Fernandez, who is expected to win Argentina's Ocober 27 presidential election after his resounding lead in the August 11 primary vote, has been critical of last year's massive $57-billion standby agreement with the International Monetary ...

Top
BREAKING NEWS
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed