Amid rising US-China trade tensions, communication between the two nations is strained, with conflicting accounts on whether high-level talks have even occurred. Treasury Secretary Scott Bessent, when questioned about President Trump's claim of a call from President Xi Jinping, stated he doesn't track the President's calls. This lack of...
Despite Trump's escalating trade war, April's job growth showed a modest slowdown with 177,000 jobs added, slightly lower than March's revised figure. The unemployment rate remained at 4.2%. However, increased tariffs have negatively impacted manufacturers, resulting in job losses and declining factory orders. Consumer confidence is also...
April's US jobs report, due Friday, is anticipated to show 135,000 jobs added and unemployment at 4.2%, a significant drop from March's 228,000. Economists express concern over rising economic uncertainty due to Trump's trade policies and federal spending cuts. While initial jobless claims remain low, layoff announcements are...
Despite predictions of a weakening job market due to President Trump's trade policies and immigration crackdown, April's job growth is expected to be healthy, though lower than March's. Economists forecast around 135,000 jobs added, with the unemployment rate remaining at 4.2%. However, concerns remain about future job losses due to...
The Trump administration closed a loophole allowing tariff-free import of Chinese goods under $800, impacting online shoppers. This de minimis rule, exploited by companies to circumvent tariffs on Chinese products, led to a surge in cheap imports. While aiding US manufacturers, the change has increased prices for consumers....
US-China trade tensions escalate with both sides imposing high tariffs, hindering economic cooperation. The prospect of economic decoupling is real, potentially harming both nations and the global economy. While China's Q1 GDP growth was positive, manufacturing activity contracted, signaling future economic downturn. Regional trade agreements are emerging as...
Amidst a 0.3% GDP decline—the first contraction since 2022—and a significant stock market drop, President Trump downplayed concerns about his tariffs' impact on consumer costs. He attributed the economic downturn to the Biden administration and insisted his tariffs would ultimately benefit the U.S. economy, despite reports of rising prices...
President Trump's cabinet celebrated 100 days in office, highlighting achievements like deportations and border security improvements. Vice President Vance criticized the media's focus, while Secretary Rubio emphasized an "America First" foreign policy. Treasury Secretary Bessent downplayed a shrinking GDP, and Elon Musk praised the administration. National Intelligence...
US inflation cooled to 2.3% in March, down from 2.7% in February, nearing the Federal Reserve's 2% target. Energy prices fell significantly, while food prices rose sharply. Consumer spending unexpectedly jumped 0.7%, the highest monthly increase in over two years, likely driven by pre-tariff purchases. However, this...
Eurozone's economy showed 0.4% growth in Q1 2025, exceeding the previous quarter's 0.2%. However, Trump's new tariffs on EU goods, including a 20% rate on various imports, have significantly dampened economic optimism. The EU's economic outlook has been downgraded due to its export dependence on the US. Despite...
