USA

US, China economic chiefs meet in Paris to clear path to Trump-Xi summit
15Mar mmBy Brian ThompsonNo Comments
Asia, China, USA, World

US, China economic chiefs meet in Paris to clear path to Trump-Xi summit

Top U.S. and Chinese economic officials wrapped up the first of two days of talks in Paris on Sunday to iron out kinks in their trade truce and ​clear a path for U.S. President Donald Trump's trip to Beijing to meet with Chinese President Xi Jinping at the end of March. The discussions, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He ‌Lifeng, were expected to focus on shifting U.S. tariffs, the flow of Chinese-produced rare earth minerals and magnets to U.S. buyers, American high-tech export controls and Chinese purchases of U.S. agricultural products. The two sides met for more than six hours at the Paris headquarters of the Organisation for Economic Co-operation and Development, with talks to resume on Monday morning, a Treasury spokesperson ...
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US tariffs pose limited risk to economy despite 15% threat: Gan Siow Huang
9Mar mmBy Mike TrudellNo Comments
Singapore, USA

US tariffs pose limited risk to economy despite 15% threat: Gan Siow Huang

New 10% levy is broadly unchanged from previous reciprocal taxes. US tariffs are expected to have a limited impact on Singapore’s economy despite uncertainty over a possible increase to 15%, according to Minister of State for Trade and Industry Gan Siow Huang. The immediate impact is not expected to be significant since the 10% tariff is broadly unchanged from the reciprocal levy already imposed on Singapore’s exports to the US since April 2025, Gan said in Parliament on 5 March. This follows a 20 February 2026 ruling by the US Supreme Court striking down reciprocal tariffs imposed under the International Emergency Economic Powers Act. On the same day, the US introduced a 10% tariff on all imports under Section 122 of the Trade Act of 1974 for a period of 150 days. “It is ...
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U.S.-Israel War with Iran’s Impact on Indian, Chinese, and Global Economies
7Mar mmBy Michael SmithNo Comments
Asia, China, USA, World

U.S.-Israel War with Iran’s Impact on Indian, Chinese, and Global Economies

As the U.S. and Israeli war on Iran rages and expands, the immediate focus is understandably on military issues such as airstrikes, missile defense, naval deployments, and retaliatory actions. Yet beneath the spectacle of war lies a far more consequential battlefield: energy and the global economy. The Heart of the Global Energy System The Middle East remains at the center of global energy. Even though there has been diversification of energy sources in recent decades, the region still accounts for roughly 30% of global oil production and about half of all global seaborne oil exports. The region’s centrality is reinforced by the Strait of Hormuz, through which nearly 20 million barrels of oil per day flow, amounting to roughly 20% of the world’s daily oil supply. ...
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The U.S.-Israeli War on Iran Shakes the Foundations of China’s Economy
5Mar mmBy Brian ThompsonNo Comments
Asia, China, USA, World

The U.S.-Israeli War on Iran Shakes the Foundations of China’s Economy

The Middle East has erupted in the most intense direct military escalation in decades. Joint U.S.-Israeli airstrikes targeted multiple Iranian sites, ranging from military and air defence facilities to locations linked to Iran’s missile and nuclear programs. U.S. President Donald Trump announced the launch of “major combat operations” aimed at dismantling Iran’s military and naval capabilities and preventing Tehran from acquiring a nuclear weapon, while calling on the Iranian people to rise against their government. Iran responded swiftly, launching dozens of ballistic missiles and drones toward Israel and U.S. bases in Gulf states in an operation dubbed “True Promise 4.” The escalation led to widespread airspace closures and a comprehensive state of emergency across the region. ...
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Trump’s tariff setback could spark surge in Chinese imports to US: analysts
1Mar mmBy Brian ThompsonNo Comments
Asia, China, USA, World

Trump’s tariff setback could spark surge in Chinese imports to US: analysts

Importers in the United States are expected to front-load goods from China after the Supreme Court struck down the use of emergency powers as the legal basis for US President Donald Trump’s sweeping global tariffs, potentially opening a brief window of relief, analysts said.Companies selling products made in China, or using Chinese raw materials, were likely to place larger orders in the coming weeks amid uncertainty over whether Trump’s pledge to raise a new tariff – from 10 per cent to 15 per cent – would take effect under a non-emergency statute or win congressional approval within the required 150 days, they said.Trump had partly justified last year’s tariff hikes on nearly all America’s trading partners under the International Emergency Economic Powers Act (IEEPA), but the Suprem...
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IMF sees ‘buoyant’ US economy accelerating this year but warns of risks from tariffs, rising debt
26Feb mmBy Joe RodriguezNo Comments
USA

IMF sees ‘buoyant’ US economy accelerating this year but warns of risks from tariffs, rising debt

A "buoyant" US economy is poised to see accelerated growth and lower unemployment this year. But big federal budget debts "represent a growing stability risk," the International Monetary Fund said Wednesday. The 191-country lending organisation's assessment of the world's biggest economy was mostly positive. The IMF saw US gross domestic product — the country's output of goods and services — growing 2.4 per cent in fourth-quarter 2026 from the last three months of 2025, up from 2.2 per cent growth the year before. It sees US unemployment dropping from 4.5 per cent in late 2025 to 4.1 per cent in 2026 and inflation falling to the Federal Reserve's 2 per cent target by 2027. IMF managing director Kristalina Georgieva said the Fed, which cut its benchmark interest rate three times ...
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Trump says US economy ‘is bigger, better, richer’. Is it really?
26Feb mmBy Michael SmithNo Comments
USA, World

Trump says US economy ‘is bigger, better, richer’. Is it really?

This SOTU comes at a time when Trump’s approval ratings have taken a heavy beating, and the Republican Party (to which Trump belongs) has seen several electoral losses to Democrats since November last year US President Donald Trump doubled down on his economic policy agenda as he delivered the latest State of the Union (SOTU) address to the US Congress on Tuesday. Trump said that the US “is back, bigger, better, richer and stronger than ever before” and asserted that “the golden age of America is upon us”. “Today, our border is secure, our spirit is restored, inflation is plummeting, incomes are rising fast. The roaring economy is roaring like never before, and our enemies are scared, our military and police are stacked, and America is respected again, perhap...
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Xi, Merz seek to build on economic ties amid fallout from US tariffs
25Feb mmBy Brian ThompsonNo Comments
China, USA, World

Xi, Merz seek to build on economic ties amid fallout from US tariffs

Chinese President Xi Jinping and German Chancellor Friedrich Merz have expressed their desire to deepen economic ties between their countries during the German leader’s inaugural visit to Beijing, China’s state broadcaster reports. During a meeting with Merz, who arrived in Beijing on Wednesday on a visit focused on resetting trade relations and deepening cooperation, Xi told the German leader their two countries should be “reliable partners that support each ⁠other” and be “defenders of free trade”, CCTV reported. China supported Europe’s self-reliance, Xi said, adding ⁠that China hoped Europe would ⁠work with China in the same direction and ⁠uphold their strategic partnership. CCTV reported that Xi and Merz also discussed ⁠Ukraine amid concerns in Berlin and elsewhere in Europ...
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US economy shows resilience, despite Americans’ pessimism
16Feb mmBy Joe RodriguezNo Comments
USA

US economy shows resilience, despite Americans’ pessimism

Recent economic data offered a buoyant picture of the US economy, even if many Americans remain pessimistic. Friday’s inflation report, which indicated that prices were 2.5% higher in January compared to the previous year, suggested it was plausible for inflation to get to the Federal Reserve’s 2% target without inducing a recession, an achievement many economists thought “impossible” a few years ago, The Wall Street Journal reported. Employment remains strong, too. Yet worrying details hide beneath the surface: Job openings are falling, reflecting AI-related cost savings, while inflation is still high in some areas, including home electricity prices. “The economy looks solid. The markets look solid. Just don’t look too closely,” Axios said.
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How China could win the geopolitical game by default
16Feb mmBy Brian ThompsonNo Comments
China, USA

How China could win the geopolitical game by default

Is China winning the geopolitical game? The US appears isolated as President Donald Trump attacks not just rivals but long-standing allies. Trump’s boorish behaviour towards other countries allows Chinese leaders to act as the responsible adults in the room. China clearly wants to assume the mantle of being the defender of multilateralism and free trade, and the linchpin of a stable world order.  The reality is more complex. The rest of the world is wary of China’s embrace. Beijing benefited from the rules underpinning the multilateral system, turning that system to its advantage. For instance, even as it gained access to worldwide markets for its exports, China kept its own markets mostly closed. In two important respects, though, China is winning the geopolitical game. First, Trump is s...
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