Tuesday, May 19

Tag: Economy

10Apr By AdminsNo Comments

Iran war to permanently scar global economy even if peace is reached: IMF

The head of the International Monetary Fund (IMF) has warned the Iran war will cause permanent scarring on the global economy even if the fragile two-week ceasefire holds. In a keynote address yesterday, Kristalina Georgieva said the conflict has reversed the global economy's recent surge, which was driven by the AI boom and tech investment. "In fact, had it not been for this shock, we would have been upgrading global growth," she told attendees in Washington. IMF managing director Kristalina Georgieva delivering a keynote address in Washington yesterday. (IMF) "But now, even our most hopeful scenario involves a growth downgrade. Why? Because of significant infrastructure damage, supply disruptions, losses of confidence, and other scarring effects. "Even in the...
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28Jul By AdminsNo Comments

Australia faces nervous wait as Trump’s tariff deadline looms

Australia is no closer to learning whether it will be hit by a higher tariff by the United States, despite President Donald Trump saying he'll be handing down fresh duties later this week. The so-called "reciprocal" tariffs were paused for 90 days, and the White House has recently announced deals with a slew of partners, including the UK, China, Vietnam, Indonesia, the Philippines, Japan and, as of this morning, the European Union. However, an Australian deal is yet to be announced ahead of the pause expiring on Friday. Donald Trump's tariffs have caused uncertainty in financial markets. (Getty) Australia is currently subject to a baseline 10 per cent tariff, but what that figure will be as of Friday is unclear. Trump said last week he would be sending out lett...
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23Jul By AdminsNo Comments

Trump announces trade deal with Japan that lowers threatened tariff to 15 per cent

US President Donald Trump has announced a trade framework with Japan, placing a 15 per cent tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.” The president said Japan would invest “at my direction” $US550 billion ($838 billion) into the US and would “open” its economy to American autos and rice. Trump claims that the deal will create "Hundreds of Thousands of Jobs" (AP Photo/Alex Brandon) The 15 per cent tax on imported Japanese goods is a meaningful drop from the 25 per cent rate that Trump, in a recent letter to Japanese Prime Minister Sh...
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17Jul By AdminsNo Comments

Trump hints at timeline for tariffs on $1.6 billion of Aussie exports

US President Donald Trump has said he will "probably" impose tariffs on pharmaceutical drug imports from the end of July. Speaking to reporters today, Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. He said this could come into effect "at the end of the month". Donald Trump has said he will "probably" impose tariffs on pharmaceutical imports at the end of July. (AP) Australian exports to the US are already subject to a 10 per cent tariff, with Trump recently saying that could rise to 15 or 20 per cent by August 1. But now it appears pharmaceutical exports could come in for special attention. Trump previously said tariffs on pharmaceuticals could climb as hi...
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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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