Tariffs
Consumer confidence in the US has shown significant improvement, rising 12.3 points in May to 98, according to the Conference Board. This uptick comes after five consecutive months of declines, which had sent confidence to a pandemic-era low in April. While concerns over President Trump's tariffs have
Tariffs
The International Monetary Fund has issued a warning about the potential impact of global trade tensions on the UK economy, citing US tariff plans that could reduce growth. However, the IMF has also upgraded its forecast for the UK economy due to a strong recent performance. Economists at the IMF
Tariffs
The International Monetary Fund (IMF) has upgraded its forecast for the UK economy, predicting 1.2 per cent growth this year, thanks to strong recent performance. However, the global body also warns that looming global trade tensions will impact UK economic growth next year, reducing it by 0.3 percentage
Tariffs
Canadian Prime Minister Mark Carney's invitation to Mexican President Claudia Sheinbaum to attend the Group of Seven Leaders' Summit in Kananaskis, Alta., next month could provide a unique opportunity for sideline talks with U.S. President Donald Trump on his protectionist tariffs and the future of North
Tariffs
Investors and analysts have taken to adopting a tongue-in-cheek term, the "TACO" trade, to describe the pattern of stock market fluctuations caused by President Trump's tariff threats. The term, coined by a Financial Times columnist, refers to Trump Always Chickens Out, highlighting the frequent retreats from
Tariffs
U.S. President Donald Trump has extended the deadline for a 50% tariff on the European Union until July 9, announcing that he received a call from European Commission President Ursula von der Leyen requesting an extension. Von der Leyen described the conversation as a "good call" and
Tariffs
Volvo Cars, the Swedish automaker owned by China's Geely, is undergoing a massive restructuring effort, axing around 3,000 office jobs, approximately 15% of its white-collar workforce, as it grapples with falling electric vehicle (EV) demand, surging operational costs, and growing uncertainty over U.S. trade policy. The
Tariffs
The International Monetary Fund (IMF) has upgraded its forecast for the UK economy, citing a strong recovery in recent months, with GDP (gross domestic product) set to increase by 1.2% this year. However, the IMF warned that global trade tensions will reduce UK economic growth next year, with a
Tariffs
Pakistan's journey towards export-led growth has been hindered by the exacerbation of existing constraints on businesses, including an unaligned exchange rate regime, high energy costs, regulatory complexity, limited access to finance, and the dominance of state-owned enterprises. The World Bank's economic policy note highlights the need
Tariffs
Southeast Asian leaders are gathered in Kuala Lumpur for the first-ever ASEAN-GCC summit, seeking to bolster their trade-dependent economies amidst steep US tariffs and a complex global landscape. Malaysian Prime Minister Anwar Ibrahim emphasized the strategic importance of the partnership, as it navigates economic uncertainty and geopolitical challenges. China'
Tariffs
China's economy is more vulnerable to the impacts of a trade war with the United States than it was in President Trump's first term, with a persisting housing slowdown and high youth unemployment rate exacerbating the situation. Key sectors such as manufacturing, once considered a cornerstone
Tariffs
President Trump's sudden shift to tariff threats has sent markets reeling and raised concerns about the impact on the US economy. Just a day after House Republicans approved a package of tax cuts, Trump pivoted to his alternative economic priority, unveiling a series of tariff threats that have
