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USA

Bessent Defends White House Economic Moves to Wary Business Leaders

In a pivotal address at the Milken Institute Global Conference, U.S. Treasury Secretary Scott Bessent staunchly defended the White House's economic strategies, aiming to reassure business leaders concerned about recent policy shifts. Emphasizing Strategic Uncertainty Bessent highlighted the administration's approach of "strategic uncertainty" in economic negotiations, suggesting that unpredictability can be a valuable tool in securing favorable trade deals. Addressing Business Leaders' Concerns Acknowledging the apprehensions of business leaders, Bessent emphasized the administration's commitment to fostering a conducive environment for investment and growth. He pointed to legislative efforts aimed at making small business deductions permanent and enhancing tax incentives for research and manufacturing. Market Resilience Amid Policy Shifts Despite market volatility and concerns over tariffs, Bessent expressed confidence in the resilience of U.S. financial markets, describing them as "antifragile" and capable of adapting to policy changes.

Ahmad May 5, 2025

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USA

Trump’s 100-Day Approval Rating Hits Historic Low, Below 40%

Donald Trump won back the Oval Office and took charge of the government amid the strongest poll numbers of his political career, but as the 100-day mark of his presidency approaches, Americans’ views of what he’s done so far have turned deeply negative, a new CNN poll conducted by SSRS finds. Trump’s 41% approval rating is the lowest for any newly elected president at 100 days dating back at least to Dwight Eisenhower – including Trump’s own first term. Approval of Trump’s handling of the presidency is down 4 points since March, and 7 points lower than it was in late February. Just 22% say they strongly approve of Trump’s handling of the job, a new low, and about twice as many say they strongly disapprove (45%). Since March, Trump has seen notable drops in approval from women and Hispanic Americans (down 7 […]

Ahmad April 27, 2025

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USA

China sends Boeing planes back to US over tariffs

Kelly Ortberg said two planes had already been returned and another would follow after trade tensions between the two countries escalated. Boeing's chief executive told CNBC that 50 more planes were due to go to China this year but their customers had indicated they will not take delivery of them.The US put 145% tariffs on imports from China and it hit back with a 125% tax on US products. Speaking in the Oval Office on Tuesday, Trump said he was optimistic about improving trade relations with China, saying the level of tariffs he had imposed would "come down substantially, but it won't be zero".However, Mr Ortberg said China "have in fact stopped taking delivery of aircraft because of tariff environment".Boeing is America's largest exporter with about 70% of its commercial aircraft sales outside of the US.Mr Ortberg said Boeing was […]

Ahmad April 24, 2025

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USA

Tesla Halts Orders in China on U.S. Imported Models

Tesla has temporarily suspended orders for its U.S.-manufactured vehicles in China, signaling potential challenges in navigating trade dynamics and shifting consumer demand in the world’s largest electric vehicle (EV) market. The move, confirmed by the company’s Chinese website, applies to imported Model S and Model X vehicles, raising questions about supply chain adjustments, tariff pressures, and Tesla’s localization strategy. Industry analysts suggest the pause reflects Tesla’s efforts to prioritize production at its Shanghai Gigafactory, which manufactures cheaper, locally made Model 3 and Model Y vehicles tailored to Chinese consumers. Imported U.S. models face steep tariffs and longer delivery times, making them less competitive against domestic rivals like BYD and NIO. By halting orders, Tesla may be streamlining operations to focus on cost-effective, locally produced EVs amid rising competition and economic headwinds. The decision also underscores broader tensions in U.S.-China trade […]

Ahmad April 11, 2025

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USA

Elon Musk Criticizes Trump Trade Adviser, Revealing Tensions in Inner Circle

In a striking clash of ideologies, tech mogul Elon Musk has publicly criticized former Trump trade adviser Peter Navarro, exposing simmering tensions within political and business circles. The disagreement, which unfolded on social media and in subsequent interviews, underscores deeper divides over trade policy, economic nationalism, and the role of global cooperation in fostering innovation. Navarro, a key architect of the Trump administration’s “America First” trade agenda, has long advocated for aggressive tariffs and decoupling from China—a stance that clashes with Musk’s reliance on global supply chains for companies like Tesla and SpaceX. Musk’s recent remarks targeted Navarro’s trade strategies as “short-sighted” and “detrimental to U.S. competitiveness,” arguing that isolationist policies stifle technological progress and harm industries dependent on international partnerships. The spat highlights a growing rift between pro-globalization business leaders and political figures pushing for economic protectionism. Navarro fired […]

Ahmad April 11, 2025

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USA

Trump Imposes 10% Tariffs on All Countries, Including Ghana

On April 2, 2025, President Donald Trump announced sweeping new tariffs on nearly all U.S. trading partners, including Ghana, marking a significant shift in U.S. trade policy. The tariffs include a 10% baseline tax on imports from all countries, including Ghana, which are part of a broader set of elevated duties aimed at addressing the United States' trade imbalances. Trump also imposed specific tariff rates, including 34% on China and 20% on the European Union, among others.In a Rose Garden announcement, Trump described the tariffs as a response to what he termed an economic emergency, asserting that the U.S. had been "looted, pillaged, raped, and plundered" by other nations. He promised the new tariffs would boost domestic manufacturing and generate new revenue for the U.S. government. Trump emphasized that this move was necessary to restore fairness to global trade and […]

Muhammad Saminu April 3, 2025

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