China's July export growth surged to 7.2%, exceeding forecasts, while imports hit a one-year high at 4.1%. This positive trade performance, driven by increased shipments to alternative markets like Southeast Asia and the EU, offsets decreased exports to the U.S. Despite this, China's overall exports are up...
President Trump initiated higher import taxes on goods from over 60 countries, including the EU, Japan, and South Korea, starting Thursday. While the White House anticipates economic growth and increased investment, economic reports indicate negative consequences like stalled hiring, increased inflation, and declining home values following earlier tariff implementations....
Six more states will implement new restrictions on Supplemental Nutrition Assistance Program (SNAP) benefits starting in 2026. These waivers, signed by Agriculture Secretary Brooke Rollins, prohibit the use of SNAP funds on certain processed foods and drinks, such as soda and candy, in Texas, Oklahoma, Louisiana, Colorado, Florida, and...
The EU will implement a dynamic price cap on Russian oil, starting September 3rd, setting the maximum price 15% below the average global market price over the previous three months. This replaces the fixed $60 per barrel limit. The UK supports this move, aiming to reduce Russia's war funding....
Trump's administration is tightening sanctions on Russia, targeting its oil trade with India and China. India, a major buyer of discounted Russian oil, faces new tariffs from the US, potentially adding billions to its oil bill. China, also a large importer of Russian oil, may be exempt due to...
Despite President Trump imposing 35% tariffs on Canadian goods and 25% on Mexican goods, the USMCA trade agreement largely shields most imports. Canada reports that 95% of its exports are unaffected, with energy exports entirely exempt. Mexico similarly benefits, with over 84% of its trade unaffected. While some...
New higher tariffs are expected to impact the U.S. economy negatively, with recent data showing a weakened job market and increased inflation. Economists criticize the administration's response. Meanwhile, negotiations continue regarding tariffs on Mexican imports, which were briefly implemented in April. Separately, efforts are underway to secure...
The European Union has temporarily suspended planned retaliatory tariffs against the United States for six months. This follows a July 27th agreement between EU President von der Leyen and US President Trump aimed at restoring trade stability. The EU will continue working towards a formal joint statement while the...
President Trump's revised global tariff policy, initially announced in April and later amended, has reinstated and expanded reciprocal tariffs on various countries. While some tariffs are lower than initially proposed, others, particularly for Brazil and Switzerland, are significantly higher. An economic model suggests these tariffs will reduce US...
OPEC+ agreed to increase oil production by 547,000 barrels per day in September, marking a complete reversal of previous cuts. This decision, influenced by strong oil prices and low stockpiles, follows a series of accelerated output hikes aimed at regaining market share. The move comes amidst concerns over potential...
