Global Business News
Global Business News
Global Business News
Washington, July 30, 2025 – the U.S. President Donald Trump on Wednesday said his reciprocal tariff deadline for remaining trade partners will not be extended this Friday. “The August first deadline is the August first deadline – it stands strong, and will not be extended. A big day for America!!!” Trump wrote on his social media platform in all capital letters. (Reuters)
Washington, July 28, 2025 – The US and EU have struck what is being billed as the largest trade deal in history, after talks in Scotland. It actually resembles the framework for an agreement rather than a full trade deal, with details still unclear. But the headline figures announced by President Donald Trump and EU chief Ursula von der Leyen do offer clues about which sectors and groups could be hit hardest or have most to gain. Trump – winner After promising new trade deals with dozens of countries, Trump …
Frankfurt, July 23, 2023 – Japan’s trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight, economists said. Tokyo’s deal with the U.S. lowers tariffs on auto imports to 15% from levies totalling 27.5% previously. Duties that were due to come into effect on other Japanese goods from August 1 will also be cut to 15% from 25%. The deal with the world’s fourth-largest economy, which includes commitments for …
Pakistan, July 19, 2025 – Tensions over U.S. tariff threats dominated the G20 finance ministers’ meeting in Durban, South Africa. As finance chiefs gathered to discuss global economic cooperation, President Donald Trump’s new tariff plans created concern about further trade disruption and global fragmentation. South Africa, the host, urged G20 countries to show bold leadership and unity in tackling rising trade barriers and climate financing challenges. In his opening remarks, Finance Minister Enoch Godongwana stressed the need for strategic global action. He called for a revival of multilateralism and greater …
Brussels, July 15, 2025 – EU Trade Commissioner Maroš Šefčovič presented EU trade ministers gathered in Brussels for an extraordinary meeting on Monday a list of €72 billion worth of US products to be included in a retaliatory tariff drive, as Washington’s pressure ramped up over the weekend with the threat of 30% tariffs on EU imports starting on 1 August. “We must be prepared for all outcomes, including if necessary, well-considered proportionate measures to restore balance in our transatlantic relationship,” Šefčovič said, adding: “Today the Commission is sharing with the member …
Washington, July 14, 2025 – President Donald Trump is stepping up his support for Ukraine amid Russia’s ongoing attacks and resistance to peace efforts after more than three years of war. Trump announced July 14 that the United States is sending weapons to NATO, which plans to transfer the equipment to Ukraine, and also threatened steep tariffs aimed at impacting Russia’s ability to finance the war. Trump said that the United States would put secondary tariffs on countries that do business with Russia if a peace deal is not reached within …
Milan, July 14, 2025 -The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two sides fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal. https://5553fe78c494ecf8203649db5ec8d5ba.safeframe.googlesyndication.com/safeframe/1-0-45/html/container.html Tajani also told daily Il Messaggero that …
London, July 11, 2025 – Britain’s economy unexpectedly contracted for a second month in a row in May, official data showed Friday, in a blow to Britain’s Labour government as it seeks to kickstart growth. Gross domestic product shrank 0.1 percent in May, following a 0.3 percent contraction in April, the Office for National Statistics said in a statement. Economists had expected growth of 0.1 percent. The figures add to problems faced by Prime Minister Keir Starmer and his Labour government as it battles global uncertainty over US tariffs and …
Brussels, July 9, 2025 – The EU and the US are preparing for a trade deal involving the US imposing a baseline 10% tariff on EU goods, according to several sources briefed by EU Trade Commissioner Maroš Šefčovič. A preliminary agreement is expected to be concluded by Wednesday, with legal implementation by 1 August — the new deadline set by US President Donald Trump before additional tariffs come into effect if no deal is signed, sources said. “The US will not drop the baseline tariffs, because they’re a revenue source,” the …
Beijing, June 30, 2025 – Factory activity in China edged upwards in June but stayed in contractionary territory for a third straight month, as the country battles soft demand and the effects of a trade war with the United States. China’s official purchasing managers’ index (PMI) – a gauge of manufacturing activity – rose to 49.7 in June from 49.5 in May and 49.0 in April, the National Bureau of Statistics announced on Monday. Scores above 50 indicate growth in manufacturing while readings under 50 suggest a contraction. The improved …