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international

Beijing Residents Dismiss Trump’s Tariff Threats

People in Beijing have reacted with calm and defiance to US President Donald Trump’s latest threat to impose steep new tariffs on Chinese imports. Speaking to AFP on Saturday, residents said they were not worried about the move and viewed it as another unpredictable gesture from the former US leader. Trump announced on Friday that the United States would impose an additional 100 percent tariff on all Chinese imports starting November 1, or earlier. He also cast doubt on a possible meeting with Chinese President Xi Jinping. The new tariffs, he said, were a response to Beijing’s export restrictions on rare-earth materials, which are crucial for high-tech industries. Chinese authorities have not yet issued an official response. The ministries of foreign affairs and commerce declined to comment when approached by AFP. “I felt nothing when I saw the news,” said […]

Abdulmumini Auwal SA October 11, 2025

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USA

Trump Imposes 100% Tariff on China, Threatens to Scrap Xi Summit

WASHINGTON, Oct 11 — U.S. President Donald Trump announced a new 100% tariff on Chinese goods and warned he may cancel his planned meeting with Chinese President Xi Jinping, escalating tensions between the world’s two largest economies. The decision, which Trump said takes effect on November 1, also includes export controls on all critical U.S. software. He said the measures respond to what he called China’s “extraordinarily aggressive” actions, including export restrictions on rare earth minerals. “It is impossible to believe that China would have taken such an action, but they have, and the rest is history,” Trump wrote on his Truth Social account. Financial markets reacted sharply to the announcement. The Nasdaq fell 3.6% and the S&P 500 dropped 2.7% as investors feared a renewed trade war. Currently, Chinese goods face 30% U.S. tariffs, while Beijing has imposed 10% […]

Abdulmumini Auwal SA October 11, 2025

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USA

Trump Administration Cuts Energy Projects, Freezes NY Funds

The Trump administration has canceled billions in clean energy projects and frozen funding for major New York infrastructure, escalating a political battle over the ongoing US government shutdown. The Department of Energy announced the termination of 223 clean energy projects, claiming a savings of $7.56 billion for taxpayers. Officials stated the projects did not advance US energy needs or provide a good return on investment. Russell Vought, head of the Office of Management and Budget, labeled the canceled funding as "Green New Scam" money on social media. The affected projects are in 16 states, including Democratic strongholds like California and New York. California Governor Gavin Newsom said the move cancels up to $1.2 billion for a hydrogen project and threatens thousands of jobs. Separately, the Department of Transportation froze nearly $18 billion for two major New York projects: the Second […]

Abdulmumini Auwal SA October 2, 2025

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Togo

EBID Adjusts Strategy Amid Trade Tensions and Monetary Easing

Lomé, Sept. 29, 2025 – The ECOWAS Bank for Investment and Development (EBID) is recalibrating its strategy as global trade frictions and shifting monetary policies reshape Africa’s economic outlook. Meeting in Lomé for its 93rd board session, the institution approved $308 million in loans for projects in Guinea and Nigeria. Inflationary Pressures from U.S. Tariffs EBID President George Agyekum Donkor warned that U.S. export tariffs introduced under the Trump administration continue to fuel inflation across African economies. “These taxes increase the price of products and services and generate a direct impact on our economies,” Donkor said. He noted that higher production and service costs are eroding household purchasing power and undermining the competitiveness of local businesses. Leveraging Global Monetary Easing While trade tensions persist, EBID sees opportunities in international capital markets. With the U.S. Federal Reserve cutting rates by 25 […]

Abubakar October 1, 2025

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international

China to levy temporary tariffs on EU pork imports

China announced on Friday that it will impose temporary duties on pork imports from the European Union, citing evidence of dumping practices. The move follows a year-long investigation launched by Beijing after the EU began scrutinizing Chinese subsidies for its electric vehicle industry. “Investigating authorities have preliminarily determined that imports of pork and pig by-products originating in the European Union are being dumped,” the Ministry of Commerce said in a statement. As a result, Beijing will apply provisional anti-dumping measures in the form of deposits, with duties ranging from 15.6% to 62.4%, starting September 10. The duties remain provisional until the ministry concludes its full investigation, which has been extended until December. The decision adds new tension to already strained China–EU relations, shaped by disputes over trade, technology, and the fallout from Russia’s 2022 invasion of Ukraine. Beijing has maintained […]

Abdulmumini Auwal SA September 5, 2025

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USA

Trump slams India trade ties, says tariffs will drop “to nothing”

US President Donald Trump has claimed that India is ready to cut its tariffs “to nothing,” while slamming the existing trade relationship as “a totally one-sided disaster.” His remarks come a week after Washington imposed 50% tariffs on Indian goods, which included a 25% penalty tied to Delhi’s refusal to halt oil imports from Russia. India has not yet responded, but the dispute over Russian oil has pushed Delhi-Washington ties to one of their lowest points. Trump argued that India has long benefitted disproportionately from the trade partnership, writing that while India sells “massive amounts of goods” to the US, America exports very little in return. “It has been a totally one-sided relationship for many decades,” he added. The timing of his comments coincides with Indian Prime Minister Narendra Modi’s presence at the Shanghai Cooperation Organisation (SCO) summit in Tianjin, […]

Ahmad September 2, 2025

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Finance

US Ends Duty-Free Imports Under $800

The United States has officially ended its long-standing tariff exemption for low-cost imports, a move expected to reshape global trade and hit small businesses particularly hard. Starting Friday, goods valued at $800 (£592) or less will no longer qualify for duty-free entry and will instead face stricter customs checks. This decision brings an end to the widely used de minimis exemption, which has allowed millions of packages to enter the country without tariffs. According to US Customs, nearly 1.4 billion packages worth over $64 billion entered the US last year under this rule. The policy change, championed by President Donald Trump, aims to strengthen domestic industry and reduce reliance on cheap imports—but it is likely to come at a cost for consumers and entrepreneurs. Industry experts warn that shoppers should expect higher prices and fewer product options, especially in the […]

Ahmad August 29, 2025

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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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