TAG · Economy
North Korea's economy expanded 3.7% in 2024, its fastest growth in eight years, fueled by arms sales to Russia, troop deployment payments, and increased trade with China, according to estimates from South Korea's central bank and analysts…
3 MIN READNippon Steel plans to invest $2 billion to $2.5 billion over three years to replace the 88-year-old hot-strip mill at U.S. Steel's Mon Valley Works near Pittsburgh, a project that company executives said will keep the aging plant operating…
4 MIN READA long trade war with China is under way, and President Donald Trump's scattershot tariff strategy is the wrong approach to confronting Beijing's export dominance, according to trade analyst Eduardo Porter in an analysis published Saturday…
3 MIN READInternational companies are pulling out of Cuba in accelerating numbers, dealing a blow to the island’s collapsing economy as the Trump administration tightens sanctions. Mastercard and Visa transactions by non-U.S. visitors will be…
4 MIN READUS officials have arrested Jamshid Ghomi, a dual US-Iranian citizen, accusing him of using his technology company to smuggle sensitive computer systems to Iran, including to the country's nuclear and military establishment. Ghomi, 63, was…
3 MIN READSecretary of State Marco Rubio told lawmakers Tuesday that South Korea's treatment of American companies, including regulatory actions against Meta and Coupang, has hampered Washington's ability to conclude a trade agreement with Seoul.
3 MIN READParaguay is positioning itself as a stable investment destination as companies and investors restructure their supply chains amid mounting global uncertainty, according to analysis published June 4 by United Press International. Paraguayan…
3 MIN READThe 2026 FIFA World Cup kicked off this week across 16 host cities in the United States, Canada, and Mexico, marking the first time the tournament has been co-hosted by three nations. The unprecedented arrangement comes after months of…
3 MIN READSpanish hotel chain Meliá will cease operations at 15 of the 34 hotels it manages in Cuba, citing corporate responsibility and external factors that have affected the operation, legality and security of the establishments, according to…
3 MIN READChinese beef traders on Wednesday began purchasing Brazilian beef certified as free of illegal deforestation, under a landmark agreement that marks the first such certification for Brazil's beef industry. The Beef on Track certification,…
4 MIN READNissan has signed a non-binding agreement to explore contract manufacturing vehicles for Chinese state-backed automaker Chery at its Sunderland plant, a move that would safeguard around 6,000 jobs and mark the first mass-market Chinese car…
3 MIN READScottish Secretary Douglas Alexander met with Peter Mandelson's lobbying firm Global Counsel within weeks of becoming a minister in July 2024 but did not publicly declare the meeting for about 20 months, newly released government documents…
3 MIN READBrazilian President Luiz Inacio Lula da Silva on Wednesday accused the sons of former President Jair Bolsonaro of acting as “traitors to the nation” by lobbying the United States to impose a 25% tariff on Brazilian goods and take action…
3 MIN READCanada's economy contracted at a 0.1% annualized rate in the first quarter of 2026, a second straight quarterly decline that badly missed expectations. Prime Minister Mark Carney attributed the weakness to deliberate policy decisions aimed…
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Canada has formally requested a renewal of the United States-Mexico-Canada Agreement (USMCA), proposing a 16-year extension of the North American free trade pact as the July 1 deadline to renegotiate the deal approaches. Canada-US Trade…
3 MIN READThe Trump administration on Monday proposed a 25% tariff on a range of Brazilian imports, citing unfair trade practices involving digital services, intellectual property, and environmental enforcement. U.S. Trade Representative Jamieson…
4 MIN READU.S. crude oil exports averaged 5.6 million barrels per day in May, a record high driven by strong demand from Asian and European refiners amid Middle East supply disruptions from the Iran war, according to data from analytics firm Kpler.
3 MIN READAsian hotel chain Archipelago International has ended its operations in Cuba under the Aston brand, becoming the third international hospitality operator to exit the island in less than a week ahead of a Friday deadline for foreign…
3 MIN READWall Street Journal Chief China Correspondent Lingling Wei reported Tuesday that a technical paper behind Huawei Technologies Co.’s recent “Tau Law” announcement reveals the company acknowledges it cannot break through the U.S.-led…
4 MIN READDemocratic lawmakers and labor advocates are meeting with Midwest autoworkers in union halls across five states, aiming to win back blue-collar voters ahead of the 2026 midterm elections as offshoring concerns and tariff impacts mount in…
3 MIN READBusinesses have begun receiving tariff refunds following a U.S. Supreme Court ruling that found President Donald Trump lacked the constitutional authority to levy broad import taxes, but the repayment process faces uncertainty after the…
3 MIN READUSA Rare Earth announced Monday it plans to invest more than 175 million euros ($204.1 million) through 2030 to expand metal, alloy, and magnet production in France, part of a broader U.S. push to secure alternative sources of rare earth…
3 MIN READSouth Korea's exports grew at the fastest pace in more than four decades in May, reaching a record $87.75 billion as surging demand for artificial intelligence chips outweighed global geopolitical headwinds, preliminary trade ministry data…
3 MIN READThe Trump administration is making access to critical minerals and sensitive health data a condition for resuming U.S. foreign health aid in sub-Saharan Africa, prompting several nations to reject or stall negotiations over terms they say…
3 MIN READA shortage of Scotch bonnet peppers, driven by extreme weather, disease, and pests, is forcing Caribbean hot sauce manufacturers to cancel orders, raise prices, and scramble for alternative ingredients as demand for the region's signature…
3 MIN READArgentine authorities seized more than 700 marine animals trafficked from Kenya at Buenos Aires’ Ezeiza International Airport, conservation groups said, in what they described as a major bust of exotic wildlife destined for the ornamental…
4 MIN READIndonesia’s President Prabowo Subianto announced a new regulation that will centralize export control for coal, palm oil and iron alloys under a newly registered state-owned enterprise starting in stages this year. The move, Prabowo said,…
3 MIN READIndonesia’s President Prabowo Subianto announced a regulation that will shift exports of coal, palm oil and iron alloys to a new state-owned enterprise starting this year, with global supply-chain implications. The plan, presented to…
3 MIN READWalmart executives said they plan to use tariff refunds to lower prices as shoppers respond to higher fuel costs. The retailer’s chief financial officer, John David Rainey, said customer behavior at Walmart gas stations points to “stress.”
3 MIN READJAKARTA, Indonesia — Indonesian President Prabowo Subianto announced on Wednesday that a newly formed state-owned enterprise will assume control of all exports of thermal coal, palm oil and iron alloys by September, a sweeping state…
3 MIN READThe Indonesian government announced Wednesday that a newly created state-owned enterprise will take over all exports of coal, palm oil and iron alloys by September, a sudden move analysts described as a hostile takeover of major commodity…
3 MIN READJapan’s exports rose 14.8% in April from a year earlier, driven by a surge in semiconductor shipments, according to Japan’s Finance Ministry data released Thursday. Imports also increased, but oil imports fell sharply as the war in Iran…
3 MIN READJapan's exports increased by 14.8% in April compared to the previous year, according to Finance Ministry data released on Thursday. The increase highlights the country's robust trade despite concerns about oil and gas supplies due to the…
3 MIN READA Minnesota quartz CEO and Trump donor, Marty Davis, has asked the U.S. government to impose broader tariffs on imported quartz slabs, setting up a high-stakes decision for President Trump after the U.S. International Trade Commission…
4 MIN READChina has agreed to ramp up purchases of U.S. agricultural products such as beef and poultry following President Donald Trump’s summit with Xi Jinping in Beijing, the White House announced. The agreements call for China to buy about $17…
4 MIN READTaiwan President Lai Ching-te said Sunday that U.S. arms purchases are “the most important deterrent” to prevent regional conflict after President Donald Trump raised doubts about continued U.S. support. Lai said the U.S. has legal…
3 MIN READThe Boeing Co. secured a 200-aircraft order from China, reopening a market that was once central to its growth, President Donald Trump and the company announced Friday following Trump’s summit with Chinese President Xi Jinping. Boeing…
4 MIN READPresident Donald Trump said on May 15 that Boeing will make its first major sale to China in nearly a decade after his summit with Chinese President Xi Jinping. The companies said China agreed to buy 200 aircraft, and Trump said China…
3 MIN READU.S. Under Secretary of State for Economic Affairs Jacob Helberg met with President Irfaan Ali and other top Guyanese officials this week to explore U.S. investment in the South American nation's bauxite reserves, as the Trump…
3 MIN READU.S. Under Secretary for Economic Affairs Jacob Helberg met with Guyana’s President Irfaan Ali and other senior officials in Georgetown to discuss business opportunities tied to the South American country’s bauxite and other natural…
3 MIN READAn unidentified vessel was seized and taken toward Iranian waters off the coast of the United Arab Emirates on Thursday, while an Indian-flagged cargo ship sank off Oman after an attack, as tensions escalated in the strategic Strait of…
3 MIN READTensions escalated near the Strait of Hormuz after a ship anchored off the United Arab Emirates was seized and sent toward Iran, while an attack near Oman sank another cargo vessel, authorities said Thursday. The incidents occurred as…
3 MIN READHonda Motor Co. reported the first full-year loss in its history Thursday, booking a 423.9 billion yen ($2.7 billion) deficit, as heavy spending on electric vehicles collided with President Donald Trump’s rollback of environmental…
3 MIN READPresidents Donald Trump and Xi Jinping meet in Beijing this week, seeking to stabilize economic ties after a 2025 tariff war that sharply reduced bilateral trade and forced global supply chains to reconfigure.
3 MIN READPresidents Donald Trump and Xi Jinping met in Beijing on May 13 to seek ways to repair economic damage from a tariff war that pushed U.S.-China trade into freefall. The talks focused on keeping the relationship stable, with only modest…
3 MIN READDonald Trump llegó a Beijing el miércoles para conversaciones con el presidente chino Xi Jinping sobre la guerra en Irán, el comercio y las ventas de armas de Estados Unidos a Taiwán, según la Casa Blanca y reportes de AP. El encuentro…
3 MIN READPresident Donald Trump departs Tuesday for a summit in Beijing with Chinese leader Xi Jinping, with both sides signaling a desire to extend a fragile trade truce and keep the world’s two largest economies talking. The talks are expected to…
4 MIN READPresident Donald Trump plans to fly to Beijing for a summit with Chinese leader Xi Jinping this week, aiming to keep the U.S.-China economic relationship steady while limiting prospects for new, sweeping policy announcements. Trump has…
4 MIN READPresident Donald Trump traveled to Beijing for meetings with Xi Jinping this week, and a delegation of U.S. technology, aerospace and finance executives joined him aboard Air Force One, the White House said. The group included Tesla and…
3 MIN READPresidents Xi Jinping and Donald Trump are preparing for a highly anticipated summit, with both nations signaling they want to keep recent stability intact, but analysts see little chance of resolving longstanding disputes over trade,…
3 MIN READPresident Xi Jinping and Donald Trump are preparing to meet in Beijing for talks that both sides say will keep U.S.-China relations broadly stable, even as major flashpoints remain on the agenda. The discussions are expected to touch…
3 MIN READBrazil's agriculture ministry said Tuesday that the European Union has decided to block the country's animal product exports beginning in September, a move that threatens one of Brazil's key markets just weeks after the historic…
3 MIN READBrazil said Tuesday the European Union has moved to block its animal product exports starting from September, days after the EU-Mercosur free trade deal entered into force provisionally. Brazil’s agriculture ministry said it was “received…
3 MIN READMalaysia’s top maritime enforcement official on Wednesday pushed back against accusations that authorities are ignoring a long-running scheme that lets Iran evade U.S. sanctions by transferring oil between tankers near the country’s coast.…
4 MIN READMalaysia’s maritime enforcement agency says Iranian-linked tankers have been exploiting “jurisdictional gaps” for ship-to-ship transfers of sanctioned oil near its waters, but it rejected allegations that it has ignored the problem.…
3 MIN READTurkey removed a restriction on direct trade with Armenia on Wednesday, a symbolic step toward normalizing relations between the two neighbors whose border has been closed for decades. The move allows shipments between the countries to…
3 MIN READThe U.S. Office of the Trade Representative has opened an inquiry into Brazil's wildly popular PIX instant payment network, alleging its government-run, fee-free structure unfairly undercuts American credit card giants like Visa and…
3 MIN READBrazil’s instant payment system PIX has come under scrutiny from the U.S. government, with an inquiry opened by the Trump administration’s Office of the U.S. Trade Representative that alleges the system creates unfair competition for U.S.…
3 MIN READTurkey removed a restriction on direct trade with Armenia on Wednesday, a move intended as a symbolic step toward improved relations between the longtime rivals. Armenia welcomed the change, which Turkish officials said reflects ongoing…
3 MIN READParis announced a financial shift in its Africa relations Tuesday at the close of the Africa Forward Summit in Kenya, with French President Emmanuel Macron unveiling a €23 billion ($27 billion) investment plan for the continent’s energy,…
3 MIN READFrench President Emmanuel Macron announced 23 billion euros ($27 billion) in new investments in Africa as a partnership summit in Nairobi closed on Tuesday. Speaking at the Africa Forward Summit with Kenyan President William Ruto, Macron…
3 MIN READChina’s exports rose 14.1% in April from a year earlier, the Chinese government said Saturday, a surge that comes days before a planned meeting next week between U.S. President Donald Trump and Chinese leader Xi Jinping in Beijing. The…
3 MIN READChina’s exports of passenger cars surged in April as carmakers pushed further into overseas markets while domestic sales continued to fall, an industry group said Monday. Exports rose nearly 85% from a year earlier to about 796,000…
4 MIN READChina's exports surged 14.1% in April from a year earlier, official data showed Saturday, significantly beating analyst estimates and accelerating from a modest 2.5% expansion in March, as a planned summit between President Donald Trump…
3 MIN READChina’s passenger car exports surged nearly 85% from a year earlier in April to about 796,000 vehicles, while domestic sales fell for a sixth straight month, the China Association of Automobile Manufacturers reported Monday. The…
3 MIN READPresident Donald Trump will travel to Beijing this week for a state visit with Chinese leader Xi Jinping, the White House said Sunday, a trip that comes amid heightened tensions from the Iran war and lingering trade disputes from his first…
4 MIN READPresident Donald Trump will travel to Beijing this week to meet with Chinese leader Xi Jinping, with White House officials saying the two sides plan to discuss a new Board of Trade and cooperation on sectors including energy, aerospace and…
3 MIN READA split federal appeals panel ruled Thursday against 10% global tariffs President Donald Trump imposed after a Supreme Court loss, saying the tariffs were “invalid” and “unauthorized by law.” The Court of International Trade in New York…
3 MIN READA federal court in New York ruled Thursday that the 10% global tariffs President Donald Trump imposed after a Supreme Court defeat are illegal, siding with small businesses that argued the president exceeded his trade authority.
3 MIN READU.S. President Donald Trump has announced “Project Freedom” to guide ships out of the Strait of Hormuz, but the effort was paused days later as negotiations on ending the Iran war continued. Shipping companies say the uncertainty is still…
3 MIN READIran’s grip on the Strait of Hormuz has kept the waterway effectively closed since U.S. and Israeli strikes on Feb. 28, while a U.S. naval blockade has not loosened Iran’s control, according to reporting Friday by the Associated Press. The…
3 MIN READToyota Motor Corp. reported a 19% decline in profit for the fiscal year ended March 2026, posting 3.85 trillion yen ($25 billion) versus nearly 4.8 trillion yen a year earlier. The company said U.S. tariffs imposed by President Donald…
3 MIN READFrench President Emmanuel Macron on Tuesday called on the United States and the European Union to set aside tariff threats and work toward stability, after President Donald Trump announced plans to raise duties on European cars and trucks…
4 MIN READMacron said Europe and the United States have “much better things to do” than tariff threats over vehicles, after Donald Trump announced higher duties on European cars and trucks. Speaking Tuesday at a summit in Armenia, Macron urged…
3 MIN READZambia’s foreign affairs minister said the United States is tying a $2 billion health assistance deal to access to the country’s critical minerals, calling allegations by outgoing U.S. ambassador Michael Gonzales “mischievous” and…
3 MIN READChina on Friday granted two years of tariff-free access to its market for the 20 largest African economies, a move that extends duty-free treatment to 53 of the continent’s 54 countries while excluding only Eswatini, which maintains formal…
3 MIN READPresident Donald Trump said he will increase the tariffs on cars and trucks imported from the European Union next week to 25%, a move he attributed to the EU failing to comply with a trade deal agreed last July. Trump made the announcement…
3 MIN READChina began a tariff-free policy for imports from Africa’s 20 largest economies on Friday, while the United States pursues new import taxes under President Donald Trump. The China plan would cover South Africa, Egypt, Nigeria, Algeria and…
3 MIN READWar-battered Syria is using its position outside the U.S.-Israel war with Iran to rebuild ties with Gulf and Western countries, while portraying the country as a safe corridor for regional transport. Syrians who fled during the conflict…
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