New Mexican tariffs and US companies are in the crossfire

Washington: The surprise announcement by President Donald Trump of an escalating tariff regime against Mexico sent ripples through almost every economic sector in the US, hammering American companies that sell automobiles or run railroads, grow vegetables or build power infrastructure. Trump tweeted late Thursday that he is slapping a 5 per cent tariff on all […]

US inflation picks up; slowing economy likely to curb rise

WASHINGTON. US consumer prices increased by the most in 15 months in April, which could support the Federal Reserve’s contention that recent low inflation readings were transitory and allow the central bank to keep interest rates unchanged for a while. But gains in inflation are likely to be limited as the report from the Commerce […]

German yields set new sub-zero record as haven seekers rush in

London. German bonds extended gains, driving benchmark yields to the most negative on record, as investors sought safety in sovereign debt amid global trade tensions, faltering growth and Italian political risks. Demand for bunds, perceived to be among the world’s safest assets, remains buoyant even after yields tumbled below zero this year. The securities extended […]

China to create its own blacklist of ‘unreliable entities’ as trade war with US escalates

BEIJING: China on Friday said it would release a blacklist of “unreliable” foreign companies and individuals, hitting back after the United States targeted telecom giant Huawei in their escalating trade war. The announcement was made a day before Beijing is due to increase tariffs on $60 billion in US goods, capping a week marked by […]

Turkey’s road to recovery looks long even as recession ends

Istanbul: Turkey exited recession in the first quarter on the back of increased lending by state banks, a temporary boost that’s since been overshadowed by the lira’s slump. Gross-domestic product expanded 1.3 per cent from the previous three months when adjusted for seasonal impact, marking a recovery from the end of last year and matching […]

US says end of India trade preference ‘done deal’

Washington: A US decision to evict India from a key trade pact is a “done deal,” an official said Thursday, despite Washington’s desire for close relations with re-elected Prime Minister Narendra Modi. President Donald Trump’s administration said in March it was removing India from the Generalized System of Preferences, which gives favorable access to goods […]