Articles in this Cluster
17-04-2025
The World Trade Organization (WTO) has forecast that global trade will shrink this year due to US President Donald Trump's tariffs. The WTO now expects global goods trade to fall by 0.2% in 2025, down from a previous forecast of 2.7% growth. The decline is expected to be particularly steep in North America, with trade predicted to drop by more than a tenth in the region. The WTO cited "severe downside risks", including reciprocal tariffs and political uncertainty, as potential factors that could lead to an even sharper decline. Despite this, some regions, including Asia and Europe, are still expected to see modest trade growth.
Entities: Donald Trump, World Trade Organization, US, North America, Asia • Tone: analytical • Sentiment: negative • Intent: inform
17-04-2025
Italian Prime Minister Giorgia Meloni is visiting the US to meet Donald Trump, aiming to convince him to adopt a "zero-for-zero" tariffs deal for the EU. Italy is heavily reliant on exports to the US, and Trump's recent 20% tariffs on EU goods have significantly impacted its economy. Meloni's close relationship with Trump and her ideologically aligned views make her a suitable candidate to negotiate with him. However, there are concerns that she may be tempted to prioritize Italy's interests over those of the EU, despite assurances from her team that she will champion a European stance. The EU has expressed confidence in Meloni and emphasized that trade policy is a matter for the EU to handle collectively.
Entities: Giorgia Meloni, Donald Trump, Italy, US, EU • Tone: analytical • Sentiment: neutral • Intent: inform
17-04-2025
Hermès will raise U.S. prices on its luxury bags, scarves, and other goods starting May 1 to offset the impact of President Donald Trump's 10% tariffs. The price increase will be limited to the U.S. market and aims to "fully offset" the tariffs. The move comes after Hermès overtook LVMH as the world's biggest luxury firm by market capitalization earlier in the week.
Entities: Hermès, U.S., President Donald Trump, LVMH, Trump • Tone: analytical • Sentiment: neutral • Intent: inform
17-04-2025
The Kremlin stated that Russia would be negatively affected by a global trade war despite being exempt from President Donald Trump's recent tariffs. Kremlin Press Secretary Dmitry Peskov noted that instability in the global economy would impact Russia, although the country has maintained macroeconomic stability under numerous sanctions. Russia was spared tariffs due to existing US sanctions and limited trade with the US. Analysts warn that a global trade war could hurt Russia's economy, particularly through decreased demand and prices for its oil exports, and that while some in Russia see benefits in a weakened Western economy, the country is not immune to the economic consequences.
Entities: Russia, Kremlin, Donald Trump, US, Dmitry Peskov • Tone: analytical • Sentiment: neutral • Intent: inform
17-04-2025
LVMH's Bernard Arnault, a friend of President Trump, is facing challenges due to Trump's tariffs, which have caused a 35% plunge in the company's share price. Despite being seated near former presidents at Trump's inauguration and having family ties to Trump's inner circle, LVMH is struggling with the impact of tariffs on its US sales. Arnault has called on European leaders to resolve the trade war with Trump "amicably" and has suggested creating a free-trade zone between Europe and the US. LVMH is considering increasing US production and prices to mitigate the effects of tariffs, and has set aside a €10.5 billion cash cushion to prepare. The company has decided to maintain its focus on luxury products rather than expanding to more affordable options, potentially sacrificing short-term growth for long-term brand integrity.
Entities: LVMH, Bernard Arnault, President Trump, The New York Times, Europe • Tone: analytical • Sentiment: negative • Intent: inform
17-04-2025
Italian Prime Minister Giorgia Meloni met with President Trump at the White House, where they discussed tariffs and trade deals. Trump praised Meloni, saying she has "taken Europe by storm," and expressed confidence that a trade deal with the European Union would be reached by the end of the 90-day pause on some US tariffs. Meloni represented not just Italy, but also the rest of Europe, which is seeking relief from Trump's tariffs. Trump has been critical of the EU, saying it was created to "screw" the US, and has not yet scheduled a meeting with EU Commission President Ursula von der Leyen. Meanwhile, Chinese leader Xi Jinping is courting Southeast Asian nations, urging them to oppose "unilateral bullying" and "tariff abuse," amid a backdrop of rising tensions between the US and China over trade.
Entities: Donald Trump, Giorgia Meloni, Italy, White House, European Union • Tone: analytical • Sentiment: neutral • Intent: inform
