The tariff between the US and China remains unsettled as US President Donald Trump on Wednesday increased the tariff on Chinese products by 125%. Within a few hours, China retaliated and implemented 84% tariff on imports from the US. China’s Foreign Ministry said that this US strategy ‘will not win the support of the…
Global markets continued to reel from the economic fallout of sweeping U.S. tariffs, with Singapore and Japan suffering their steepest stock declines in years amid mounting fears of a trade-driven global recession. Singapore’s Straits Times Index (STI) nosedived 8.7% at the open on Monday, dropping to 3,494.39, marking the worst single-day fall for the benchmark…
As the global countdown begins toward the April 9 deadline for implementation of sweeping U.S. tariffs, diplomatic activity is intensifying across Asia and Latin America, with allies and trade partners scrambling to negotiate exemptions or delays. President Donald Trump’s April 2 executive order imposing “reciprocal tariffs” of up to 50% on nearly 185 countries has…
Singaporean leaders are issuing stark warnings after U.S. President Donald Trump unleashed sweeping global tariffs, with Prime Minister Lawrence Wong calling it a direct threat to the city-state’s economy and a step toward a global trade war. “It will spell trouble for all nations, especially small ones like Singapore,” Wong said in a video address…
In a rare show of regional unity, Japan, China, and South Korea have agreed to accelerate economic cooperation and revive stalled free trade talks, as U.S. tariffs threaten to upend global trade flows and hit Asia’s export-reliant economies. Meeting for the first time in more than five years, trade ministers from the three nations issued…
As the impact of U.S. tariffs begins to ripple through the Japanese economy, Prime Minister Shigeru Ishiba has pledged to push back against the levies while rolling out emergency support for affected industries — but warned local businesses that relief may take time. Speaking before parliament on Monday, Ishiba said Tokyo will continue urging U.S….
Goldman Sachs has sharply raised its estimate for the likelihood of a U.S. economic downturn within the next year to 45%, citing tightening financial conditions and growing uncertainty over economic policy. The revised forecast — up from 35% — underscores the potential impact of President Donald Trump’s tariff measures, which have disrupted trade flows and…
Asian stock markets plunged on Monday as the economic shock from sweeping new U.S. tariffs sent tremors across global financial markets. Investors across the region reacted with alarm, fearing that an escalating trade war could tip the world’s largest economy into a recession — with serious fallout for export-driven nations in Asia. Markets in Tokyo,…
Nintendo has postponed U.S. pre-orders for its long-awaited Switch 2 console, originally scheduled for April 9, as it evaluates the potential impact of the latest round of U.S. tariffs especially on Vietnam, where it shifted its base five years ago from China. “Pre-orders for Nintendo Switch 2 in the U.S. will not start April 9,…
The European Union is poised to slap retaliatory tariffs on up to $28 billion (€25 billion) worth of U.S. imports within days, escalating trade tensions with Washington following sweeping new duties from President Donald Trump. Reuters reports the bloc will target a wide range of American products — including meat, cereals, wine, wood, clothing, chewing…
