Global Economy

admin June 16, 2018

ON JUNE 13th the Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, the seventh such increase since it began shouldering rates away from zero in December 2015. Markets shrugged—a rather different reaction from the one that followed a policy adjustment made five years ago this month. The chairman then, […]

admin June 16, 2018

The world’s two biggest economies are now at war over trade. China accused the United States of firing the first shot on Friday when the White House said that it would impose tariffs of 25% on $50 billion worth of Chinese goods. The announcement confirms a threat first made by President Donald Trump in March […]

admin June 16, 2018

THE teller at ICBC, China’s (and the world’s) biggest bank, ushers a new, well-heeled customer into a private room. It is not for VIP treatment but a stern warning. The customer wants to invest in products offering higher returns than a basic savings account. The teller fixes a camera on her and reels off a […]

admin June 16, 2018

So much for TGIF. Stocks dipped after President Trump announced $50 billion in new tariffs on Chinese imports Friday, escalating worries about a trade war between the United States and China. China immediately responded with tariffs of its own, which could hurt US businesses. The Dow fell more than 280 points in the morning but […]

admin June 16, 2018

“JUSTIN has agreed to cut all tariffs and all trade barriers between Canada and the United States,” claimed President Donald Trump to laughter on June 8th, at the G7 summit in Quebec. The next day, in apparent seriousness, Mr Trump—who has slapped tariffs and quotas on imports of aluminium and steel from all the G7 […]

admin June 16, 2018

It’s been a bad week for the global economy, and the United States just made it even worse. The Trump administration confirmed Friday that it would move forward with tariffs on $50 billion of Chinese exports. Beijing called that a declaration of a trade war, and promised immediate retaliation. The week began with a chaotic […]

admin April 26, 2018

After a brief lull in the skirmishing, the trade battle between the United States and China is escalating once again. In the last 24 hours alone, the United States dealt a potentially crippling blow to a big Chinese tech company, Beijing hit out at a major American export crop, and President Donald Trump fired off […]

admin April 25, 2018

Congress is considering killing an Obama-era rule that protects Americans from discriminatory car loans. The Senate is expected to vote Wednesday on whether to repeal auto lending regulations aimed at ensuring that minority car buyers aren’t charged higher interest rates. Critics of the 2013 rule argue that the Consumer Financial Protection Bureau overstepped its authority, […]

admin April 25, 2018

The Supreme Court is considering a case that could force consumers to start paying sales tax on all of their online purchases. During arguments in South Dakota vs. Wayfair Tuesday, the justices debated whether online retailers must collect sales tax on purchases made even in states where they do not have a “physical presence,” say […]

admin April 25, 2018

President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it. Trump wrote on Twitter late Tuesday that he thought the Trans-Pacific Partnership (TPP) didn’t represent a good deal for the world’s biggest economy. “While Japan and South Korea would like […]