Spring Housing Market Slows Amid High Mortgage Rates

 

March saw a 5.9% month-over-month decline in existing home sales, reaching 4.02 million units, according to the National Association of Realtors. High mortgage rates, exceeding 7% in January and February, significantly impacted affordability. While inventory increased nearly 20% year-over-year, reaching a 4-month supply, this hasn't significantly boosted...

Asia-Pacific Markets Mixed Amid US-China Trade Optimism

 

Asian markets showed mixed results Thursday, mirroring Wall Street's gains. Japan's Nikkei 225 surged over 1%, while South Korea's Kospi fell 0.47%. Positive sentiment stemmed from potential progress in US-China trade relations and President Trump's assurance regarding the Federal Reserve Chair. South Korea reported a surprise GDP contraction...

Trump Backs Down From Trade War Threats

 

President Trump has retreated from his aggressive trade policies, backing down from threats against the Federal Reserve and acknowledging the unsustainable nature of recently announced tariffs on Chinese goods. This shift follows warnings from major retailers about price increases and shortages. His initial hardline approach, aiming to force...

US-China Trade Deal: Big Opportunity, Says Bessent

 

US Treasury Secretary Scott Bessent sees a significant opportunity for a major US-China trade deal, contingent on China's commitment to economic restructuring. Bessent believes a deal is possible if China reduces its reliance on export-led manufacturing growth. His comments follow recent escalating tariffs imposed by both countries, causing...

US Defends Trade Actions, Calls for IMF, World Bank Overhaul

 

Treasury Secretary Scott Bessent advocated for significant reforms to the IMF and World Bank's missions while affirming continued US leadership. His comments, delivered during the IMF/World Bank spring meetings, follow concerns about a potential US withdrawal under the Trump administration. Bessent defended the administration's trade actions, criticizing China's economic...

UK Borrowing Soars, Reeves Seeks US Trade Deal

 

UK government borrowing exceeded expectations by nearly £15 billion in the year to March, reaching £151.9 billion. This surge, attributed to increased spending on pay and benefits despite higher tax revenue, puts pressure on Chancellor Rachel Reeves's fiscal targets. Reeves is traveling to Washington to negotiate a US...

US Imposes Huge Solar Tariffs; Energy Security Concerns Rise

 

The US is preparing to impose tariffs of up to 3,521% on solar panel imports from four Southeast Asian countries following an investigation into alleged Chinese subsidies. Cambodia faces the highest tariffs due to lack of cooperation. Critics argue this will harm US solar producers. Separately, the IEA head,...

US-China Trade War: Secretary Predicts De-escalation

 

Treasury Secretary Scott Bessent privately stated that the US-China trade war's current state is unsustainable, predicting a de-escalation. However, formal talks haven't begun. President Trump, while acknowledging market increases following Bessent's remarks, maintains a positive outlook on US-China relations, suggesting tariff reductions. Despite ongoing negotiations with various...

Trump's Tariffs Threaten Global Economic Downturn

 

The International Monetary Fund (IMF) warns that President Trump's tariffs could trigger a global trade war, significantly impacting the global economy. The IMF lowered its global growth forecast to 2.8% for this year, down from 3.3% predicted in 2024, and slashed its U.S. growth forecast to 1.8%. Chief...

IMF Cuts Global Growth Forecast Amid Trump Tariffs

 

The International Monetary Fund (IMF) lowered its global growth forecast to 2.8% for 2025, down from 3.3%, citing President Trump's tariffs and resulting uncertainty. U.S. growth is projected at 1.8%, significantly below earlier estimates, with a 40% recession probability. China's growth is also reduced. The IMF highlights the...