Trade
Trump digs in on high China tariffs ahead of trade talks
U.S. President Donald Trump speaks during a swearing-in ceremony for the new U.S. ambassador to China, former U.S. Senator David Perdue, at the White House in Washington, D.C., U.S., May 7, 2025. Leah Millis | Reuters President Donald Trump said Wednesday he would not consider lowering the United States’ 145% tariffs on China in order […]
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China says U.S. asked for trade meeting in Switzerland
The upcoming meeting in Switzerland between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart was requested by the Trump administration, Chinese officials said Wednesday. China will be entering the talks “firmly” opposed to U.S. tariff hikes, and willing to participate only in a dialogue “based on equality, respect and mutual benefit,” Foreign Ministry spokesman […]
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EU to set out next countermeasures against U.S. tariffs on Thursday
Maros Sefcovic, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, speaks to reporters in Singapore on May 7, 2025, after signing of the EU-Singapore Digital Trade Agreement (DTA), a landmark initiative enhancing digital economic cooperation between the European Union and Singapore. Roslan Rahman | Afp | Getty Images The European Commission will […]
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Pandora warns U.S. tariffs will spark sweeping jewelry price increases
A charm bracelet on display in a Pandora store in Copenhagen, Denmark. Bloomberg | Getty Images Danish jewelry brand Pandora has warned of significant price increases across the affordable jewelry industry if U.S. President Donald Trump’s proposed tariff hikes come into play following the White House’s 90-day pause on the levies announced in April. CEO […]
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Novo Nordisk cuts 2025 guidance as drug copycats hit Wegovy sales, posts first-quarter profit beat
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic and Wegovy are pictures while the company presents the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025. Mads Claus Rasmussen | Afp | Getty Images Novo Nordisk on Wednesday reported a better-than-expected rise in […]
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Trump officials to meet with Chinese counterparts on trade, economic matters
US Secretary of Treasury Scott Bessent speaks during the daily briefing in the Brady Briefing Room of the White House in Washington, DC, on April 29, 2025. Mandel Ngan | Afp | Getty Images President Donald Trump’s Treasury Secretary, Scott Bessent, and top trade official Jamieson Greer will meet with their Chinese counterparts in Switzerland […]
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Trump belittles Canada before Carney meeting: ‘We don’t need ANYTHING they have’
President Donald Trump on Tuesday sharply questioned the United States’ trade relationship with Canada just minutes before he was scheduled to meet Canadian Prime Minister Mark Carney at the White House. Trump said on Truth Social that he was looking forward to meeting and working with Carney, but that he “cannot understand” why the U.S. […]
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Trump trade tariffs slump widens to ‘nearly all U.S. exports,’ supply chain data shows
An empty container ship of COSCO Shipping sails to a container terminal in Qingdao in east China’s Shandong province Wednesday, April 16, 2025. Feature China | Future Publishing | Getty Images What began as a rapid drop in U.S. imports as shippers cut orders from manufacturing partners around the world has now extended into a […]
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Fashion retailer Hugo Boss shares pop 5% on better-than-feared first-quarter sales
A Hugo Boss store in Berlin, Germany, on Tuesday, April 25, 2023. Bloomberg | Getty Images Shares of Hugo Boss jumped on Tuesday after it posted a lower-than-feared decline in first-quarter sales and reiterated its full-year guidance despite macroeconomic and tariff uncertainty. The high-end German retailer said revenues fell 2% on a currency adjusted basis […]
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Temu and Shein face massive tariffs. But don’t count them out of the U.S. e-tail scene, experts say
Photo illustration of the Shein app on the App Store reflected in the Temu logo. Stefani Reynolds | Afp | Getty Images The closure of a trade loophole and prohibitive tariffs on China have upended Temu and Shein’s business model in the United States. And yet the e-commerce companies are likely to remain a dominant […]
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