USA

Presidents Donald Trump and Xi Jinping’s first face-to-face meeting since 2019 is expected to produce a deal to lower trade tensions between the United States and China. But while Trump and Xi will be representing Washington and Beijing on Thursday, whatever they agree to on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea will have ramifications for the entire global economy. As the world’s two largest economies, the US and China are unmatched in their influence on global stability and prosperity. Together, they account for 43 percent of global gross domestic product (GDP) and nearly half of global manufacturing output. Their two-way trade came to some $585bn in 2024 alone. A full-blown US-China trade war or decoupling would almost ce...

What's the story The International Monetary Fund (IMF) has warned that the US economy is showing signs of weakness, but it has avoided a recession predicted by many experts six months ago. Kristalina Georgieva, IMF's Managing Director, noted that better policies, an adaptable private sector, and less severe import tariffs than expected have helped keep the US economy afloat. Global perspective Global growth slowing slightly this year and next: Georgieva Georgieva also shared her thoughts on the global economy, saying that "we see global growth slowing only slightly this year and next." She said all indicators point to a world economy that has largely withstood acute strains from multiple shocks. This statement was part of a preview for the IMF's upcoming World Economic Out...

The global push to dethrone the dollar – and how the U.S. plans to fight back Key Takeaways: U.S. Dollar at Risk: Global rivals like China, Russia, and the BRICS alliance are actively working to dethrone the dollar’s reserve currency status. Financial Leverage Threat: Foreign nations hold nearly $8 trillion in U.S. debt, creating vulnerabilities and geopolitical pressure points. A Plan for Sovereignty: A new financial framework could secure U.S. dollar dominance for a century, lower borrowing costs, and unleash a $4 trillion market shift. For more than eight decades, the U.S. dollar has reigned as king of global finance. It’s the world’s reserve currency; the backbone of international trade, binding the global economy together. But today, that dom...

Trade levies are starting to drive up costs for goods from cans of soup to car parts Official data and statements from companies are pointing to accelerating price rises for an assortment of trade-dependent products after companies sold off inventories and moved to shift the cost burden of tariffs on to consumers. Data from the Bureau of Labor Statistics showed that in the six months to August, prices for audio equipment rose by 14 per cent, dresses were up by 8 per cent and tools, hardware and supplies had risen by 5 per cent. Most of these goods are imported. “Over the past two years, goods inflation has been about zero. We are beginning to see goods inflation creep up,” said Mark Mathews, chief economist at the National Retail Federation.  President Donald Tru...

Eight months into the second Donald Trump administration, the contours of its trade and exchange rate policies are becoming clearer—or at least their objective is. In line with the administration’s wider goal of reasserting the United States’ dominant global role, especially vis-à-vis China, economic policies have now become inextricably linked with US foreign policy priorities. The administration has deployed both its military and economic leverage in the service of its policy goals to a degree not seen for a long time. With respect to China, the administration is taking steps to preserve and exploit US technological advantages, while trying to close the gap in other areas in which China has strategic advantages. The first category includes advanced chip design and artificial inte...