Foreign

Beijing, April 28, 2025 – China has advanced this year’s stimulus plans but is holding off on fresh measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war. The Communist Party’s elite decision-making body, the Politburo, pledged on Friday to support firms and workers most affected by triple-digit U.S. tariffs on Chinese goods, but stopped short of announcing additional deficit spending. The decision to withhold additional stimulus disappointed investors, leading to a 3% slump in Chinese real estate stocks on Monday, despite official efforts to assuage …

Washington, April 28, 2025 – As Africa braces for the fallout from sweeping new U.S. tariffs, the continent must accelerate efforts to boost internal trade and reduce dependence on global powers, Ngozi Okonjo-Iweala, Director-General World Trade Organization (WTO) warned Friday. Speaking on the sidelines of the IMF and World Bank Spring Meetings in Washington, Okonjo-Iweala, however, downplayed the overall macroeconomic impact of the April 2 tariffs imposed by President Donald Trump, noting that only 6.5 percent of Africa’s exports are U.S.-bound and just 4.4 percent of its imports originate from …

Mecca, April 28, 2025 – Saudi Arabia’s non-oil exports reached a record $137.29 billion (515 billion riyals) in 2024, reflecting strong economic diversification efforts. The kingdom’s Vision 2030 strategy aims to reduce dependence on oil by expanding sectors like tourism, sports, and manufacturing. Non-oil exports grew by 13% compared to 2023 and surged 113% since Vision 2030’s launch. Abdulrahman Althukair, CEO of the Saudi Export Development Authority, credited this growth to the kingdom’s ongoing economic reforms. Saudi Arabia also attracted $20.69 billion in foreign direct investment in 2024. The government …

Beijing, April 24, 2025 – Chinese officials on Thursday dismissed talks of any progress in trade negotiations with the U.S. and reiterated their stance that Washington must drop all unilateral tariffs against Beijing, two days after President Donald Trump appeared to soften his stance on levies against China and signaled trade talks between both sides could happen soon. In a press briefing, Chinese Ministry of Commerce spokesperson He Yadong addressed comments by Trump and Treasury Secretary Scott Bessent about lowering tariffs with China through trade negotiations. The spokesperson said China is …