Tariffs
The European Union has announced plans to double steel tariffs to 50% and cut tariff-free import volumes by 47% in a bid to protect the bloc's steel industry from cheap imports. This move has sparked widespread concern among UK steelworkers and industries, with Tata Steel confirming it will
Tariffs
The latest forecasts from the International Monetary Fund suggest that global economic growth will be higher than previously thought, but lower than in previous decades. However, the UK economy continues to face significant challenges, including a slowdown in trade with the rest of the world and the ongoing impact of
Tariffs
The International Monetary Fund (IMF) has increased its 2025 global growth forecast to 3.2 percent, warning against unrest due to changes in financial and trade policies. The IMF's October 2025 World Economic Outlook report indicates that the global economy is adjusting to a new policy landscape, with
Tariffs
In a fresh salvo in the ongoing trade war, President Trump has threatened to cut off imports of cooking oil from China in response to Beijing's decision to stop buying U.S. soybeans. The move comes as inflation at the grocery store and elsewhere continues to rise, posing
Tariffs
India's economic growth story is expected to surpass earlier estimates, with the International Monetary Fund (IMF) projecting a 6.6% GDP growth rate for 2025-26, up 0.2 percentage points from the previous forecast. The upward revision is attributed to a strong first quarter, which offset the impact
Tariffs
The Hainan Provincial People's Government has introduced the "Hainan Free Trade Port 'Zero Tariff' Goods Account Book Management Measures" to ensure efficient supervision of "zero tariff" goods and better release of policy dividends. The measures consist of three chapters and 26 articles,
Tariffs
The global economy is experiencing better-than-expected performance, despite a tumultuous upheaval in U.S. trade policy, according to the International Monetary Fund. However, President Donald Trump's sweeping tariffs are beginning to erode growth prospects for the future. The IMF's latest forecast projects global growth at an
Tariffs
Uncertainty over the economy and tariffs is causing U.S. retailers to hesitate on hiring seasonal workers, who typically pack orders, serve shoppers, and build holiday displays. Companies like American Christmas LLC and Radial are cutting back on staff, while others like Amazon Inc. are maintaining their hiring levels. Experts
Tariffs
As the global economy slows, economists from across South Asia are warning their governments to be cautious of the potential consequences of America's decision to impose country-specific tariffs that deviate from the principle of most-favoured-nation (MFN) trade. The experts, including Mustafizur Rahman from Bangladesh, Sanjay Kathuria from India,
Tariffs
The International Monetary Fund (IMF) has slightly raised its growth forecast for Korea's economy to 0.9 percent for this year, citing smaller-than-expected effects from US tariff measures. This revised forecast, included in the IMF's latest World Economic Outlook report, marks a 0.1 percentage point
Tariffs
As the first Trump administration imposed tariffs on steel imports into the United States, the EU responded by imposing rebalancing duties on US products and adopting safeguard measures to protect the EU steel industry from excess steel capacity. The eight-year period of protection under the WTO Safeguards Agreement ends in
Tariffs
As the tariff war between the United States and China escalates, the promotional products industry is bracing for added costs and uncertainty. Last week, China announced renewed restrictions on rare earth mineral exports, prompting President Donald Trump to announce 100% tariffs on imports from China starting November 1. This move
