Saturday, June 14

Tag: Economy

10May By AdminsNo Comments

As US and China begin trade talks in Geneva, Trump’s tariff hammer looks less mighty than he hoped

The way US President Donald Trump sees it, beating China in a trade war should be easy. After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore, they have more to lose. Inflict enough pain – like the combined 145 per cent taxes he slapped on Chinese imports last month – and they'll beg for mercy. Trump's treasury secretary, Scott Bessent has confidently compared Beijing to a card player stuck with a losing hand. "They're playing with a pair of twos,'' he said. US President Donald Trump speaks at an event for Military Mothers, Thursday, May 8, 2025, in the East Room of the White House in Washington (AP Photo/Jacquelyn Martin) Somebody forgot to tell China. So far, the Chinese have refused to fold un...
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5May By AdminsNo Comments

President Donald Trump says good parts of US economy are ‘Trump economy,’ bad parts are ‘Biden economy’

President Donald Trump said the US economy was a mixture of his enacted policies and the effects of the Biden administration in a wide-ranging interview on NBC's Meet the Press with Kristen Welker. "I think the good parts are the 'Trump economy' and the bad parts are the 'Biden economy' because he's done a terrible job," Trump said in the interview. Trump recently completed his first 100 days in office, with 66 per cent of Americans saying they are pessimistic (29 per cent) or afraid (37 per cent) about the economy, according to a CNN/SSRS poll. Donald Trump is taking credit for the 'good' parts of the economy, but blaming the 'bad' on Joe Biden. (AP) Just 34 per cent say they feel enthusiastic or optimistic. Overall, 69 per cent of the public considers an eco...
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7Apr By AdminsNo Comments

‘Reset global trade’: Trump officials double down on tariffs as global markets plummet

Top Trump administration officials are offering mixed messaging on the possibility of negotiations on the president's newly announced tariffs, framing the move as a necessary economic reset and downplaying severe market volatility and uncertainty. President Donald Trump has long cast himself as a dealmaker — and has left the door open to cutting tariff deals with countries. But messaging from his top economic lieutenants Sunday painted a murkier picture about the possibility of relief. Trump last week announced tariffs of at least 10 per cent across all countries, with rates going even higher for 60 countries deemed the "worst offenders." The universal 10 per cent rate went into effect Saturday, while the customized rates will take effect Wednesday. President Don...
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7Apr By AdminsNo Comments

ASX recovers but $100 billion still wiped out

The Australian Stock Exchange recovered slightly after a massive opening loss of $160 billion today, but has still lost $100 billion for the day as of about midday AEST. The ASX 200 fell 6.4 per cent to a 16-month low of 7177.3 after the exchange opened at 10am. At about noon, it was down 3.7 per cent at 7383.1, rebounding from that low. There are fears the ASX could face another wipeout today. (Getty) Mining companies and the big four banks were among the biggest drops, which came even after the ASX-200 opened at a 100-day low of 7453.90. Asian markets also plunged today, deepening a global stocks rout triggered by US President Donald Trump's trade war. Japan's benchmark Nikkei fell by more than eight per cent shortly after opening. The share average, ...
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13Mar By AdminsNo Comments

Steel and aluminum are central to American life. These are the industries and products that will be impacted by new tariffs

Steel and aluminum are ubiquitous in Americans' lives. A stainless steel refrigerator holds aluminum soda cans. A stainless steel drum tumbles inside an aluminum washing machine. They're the metals used in cars and airplanes, phones and frying pans, skyscrapers and zippers. That's why President Donald Trump's 25 per cent tariffs on all steel and aluminum imports, which went into effect yesterday, could have widespread impact on manufacturers and consumers. Here are some of the industries and products that rely on aluminum and steel: Construction The construction industry uses about one-third of all US steel shipments, more than any other industry, according to the Council on Foreign Relations. The industry depends on a global supply chain...
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3Feb By AdminsNo Comments

What do Trump’s executive orders say on tariffs and how would they work?

With a trio of executive orders, US President Donald Trump has almost instantly thrown the world economy and his own goal of cutting inflation into turmoil. His tariffs against Canada and Mexico in order to stop illegal immigration and the illicit fentanyl trade led to retaliatory taxes by both countries on US imports. He placed an additional 10 per cent tariff on imports from China with the stated goal of stopping the production of fentanyl. A trade war is looming between the US, Canada, and Mexico. (AP) But on a deeper level, Trump suddenly hit the US economy with tax increases that, if sustained, could total more than US$1 trillion ($1.61 trillion) in 10 years. He did so without congressional approval and by his own acknowledgement at the perilous chance of ...
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