Donald Trump pledges more deals like Intel stake, worrying business community. The US has taken a stake in Intel chipmaker as part of a push to secure domestic production and reduce reliance on China. The acquisition is the most significant intervention in private business since the 2008 financial crisis. Supporters call it a smart industrial … Read more
OPEC+ is opening the oil taps again, while Donald Trump’s tariffs target Russian crude buyers. OPEC+, which includes Saudi Arabia and Russia, has agreed to another large production hike in September. That’s despite a warning by the International Energy Agency, the extra barrels could tip the market into oversupply later this year. US President Donald … Read more
A trade tariff deal has been agreed between the European Union and the United States. The deal avoids threatened 30 percent tariffs, but some European leaders have already made their unhappiness clear. Poland’s prime minister admitted that his country could lose $2bn. France’s PM called the deal a submission and a dark day for Europe. … Read more
China’s cheap electric vehicles could help Europe meet ambitious climate targets but threaten jobs in Europe. China makes the cheapest electric vehicles in the world. Europe needs them to meet ambitious climate targets. But imports could send European car manufacturers into a tailspin. Will either side compromise? Also this week: President Trump is fighting hard … Read more
President Donald Trump has threatened to impose more tariffs on nations aligning themselves with BRICS. The BRICS bloc of developing nations aims to challenge the US-led economic order. In theory, it has the clout to push through reforms to global governance. But critics say the expanded group faces rifts among its members. BRICS leaders have … Read more
US President Donald Trump hails deals during his three-country tour of the Gulf region. United States President Donald Trump has signed several economic deals on his visit to the Gulf region. One of the biggest deals was signed in Qatar, where Boeing secured its largest-ever order of wide-body jets from Qatar Airways. Doha also promised … Read more
The US and China have agreed to slash tariffs temporarily in a surprise breakthrough. The United States and China have surprisingly agreed to a dramatic de-escalation in their trade war. Under the agreement, the world’s two largest economies have paused their respective tariffs for 90 days. That breaks an impasse which has brought much of … Read more
African nations are drowning in debt. A halt of US aid to many countries on the continent could worsen the crisis. Africa is a continent rich in natural resources with a young population. African nations in theory have the potential to transform their economies. But many of them are facing mountains of debt. Africa’s external … Read more
The US is pivoting back to fossil fuels, China is ramping up renewables, while Europe is trying to catch up. It is not just a race to cut emissions. The scramble for clean energy is turning into a battle over political and economic dominance. In the United States, President Donald Trump is moving to fast-track … Read more
Donald Trump thinks a strong dollar is hurting US manufacturing. His team has backed the idea of currency weakening. The greenback has depreciated against other major currencies since Donald Trump’s inauguration in January. Investors are worried that Trump’s tariffs could cause a recession in the United States, and they have rushed to the exit. Is … Read more