Articles in this Cluster
29-05-2025
The US economy and trade are experiencing significant developments amid ongoing tensions with China. A federal court has blocked Trump's "Liberation Day" tariffs, ruling that he overstepped his authority. Trump's administration has been engaged in a trade war with China, with both sides imposing tariffs on each other. Despite a 90-day truce, US firms are still planning price rises amid trade risks, and Chinese e-commerce firms are intensifying their push into Europe. The US has also imposed restrictions on Chinese chips and AI technology, with Nvidia's CEO criticizing the move as a "failure." Meanwhile, China's manufacturing sector has remained resilient despite US tariffs, and its theme park industry is experiencing rapid growth. The trade tensions have also affected other areas, including the pharmaceutical industry and smartphone exports.
29-05-2025
Asia-Pacific stock markets mostly rose on Thursday following a US federal trade court ruling that President Donald Trump exceeded his authority with his "reciprocal" tariffs. The Kospi in South Korea rose 1.76%, Japan's Nikkei 225 gained 1.63%, and Australia's S&P/ASX 200 advanced 0.31%. Hong Kong's Hang Seng index and mainland China's CSI 300 also rose, gaining 0.84% and 0.7% respectively. The Bank of Korea cut its policy rate to 2.5%, its lowest level since August 2022. US futures rose, with S&P 500 futures jumping 1.44% and Nasdaq 100 futures gaining 1.76%.
29-05-2025
A U.S. federal court ruled that President Donald Trump exceeded his authority with his "reciprocal" tariffs, dealing a blow to his economic agenda. Nvidia's first-quarter earnings beat estimates, with revenue jumping 69% to $44.06 billion, despite export restrictions to China weighing on the chipmaker. Trump pushed back against the "TACO theory," which suggests he often backs down on tariffs, saying his moves are "negotiation." U.S. stocks slipped as the 30-year Treasury yield touched 5%, and analysts warned that the bond market could experience more volatility, limiting any stock rally.
29-05-2025
The U.S. Court of International Trade has struck down President Donald Trump's worldwide reciprocal tariffs, ruling that he exceeded his authority under the International Emergency Economic Powers Act. A three-judge panel ordered the administration to stop collecting the tariffs, which were imposed on countries including Canada, Mexico, and China. The court found that the tariffs did not address the stated goals, such as combating drug trafficking, and that the president's actions were "unlawful as to all." The Trump administration immediately appealed the ruling to the U.S. Court of Appeals for the Federal Circuit.
29-05-2025
A US federal court has blocked President Donald Trump's global tariffs, which were imposed citing emergency economic powers, potentially dealing a serious blow to Trump's entire economic agenda. Trump's economic policy is based on a three-legged stool of tariffs, spending cuts, and tax cuts, and without the tariff component, the entire plan could be undermined. The ruling has thrown Trump's trade deals with foreign partners into uncertainty and may force Republicans to reconsider their support for Trump's tax cuts. The administration has appealed the ruling, which could ultimately be overturned, but for now, it has created uncertainty for businesses and consumers.
29-05-2025
A US federal court has blocked President Donald Trump's plan to impose sweeping tariffs on imports, ruling that he overstepped his authority. The court granted a permanent injunction, halting Trump's 10% universal tariffs on most goods, 30% tariffs on China, and 25% tariffs on some goods from Mexico and Canada. The decision does not affect tariffs on autos, auto parts, steel, or aluminum. The court ruled that the International Emergency Economic Powers Act (IEEPA) does not authorize the tariffs, and that Trump's actions exceeded his authority. The administration has appealed the decision, which could potentially be headed to the Supreme Court.
29-05-2025
A US court has ruled that President Trump's tariffs, a key part of his economic policy, are unlawful and have been "permanently vacated". The court found that Trump exceeded his authority by imposing tariffs without Congressional approval, citing a national economic emergency. The ruling applies to tariffs imposed on countries including China, Mexico, and Canada. Trump's administration is likely to appeal, but the decision undermines his strategy of using tariffs as a negotiating tactic and revenue generator, and deepens the schism between the administration and the judiciary.
29-05-2025
A US trade court has blocked Donald Trump from imposing sweeping global tariffs, ruling that he exceeded his authority. The tariffs, which included a 10% tariff on UK imports, were introduced as a "national emergency" measure. The court decision was welcomed by Oregon's attorney general and a Senate Democrat, while the White House vowed to appeal, potentially escalating the battle to the Supreme Court. The ruling caused the US dollar to strengthen and stock market futures to rally. The impact on a recently signed UK-US trade deal is currently unclear.
29-05-2025
A US federal court blocked President Trump's tariffs on China and other US trading partners, ruling that he exceeded his authority under the International Emergency Economic Powers Act. The court found that the law does not grant the president "unbounded authority" to tax imports from nearly every country. The decision affects many but not all of Trump's tariffs and may impact ongoing trade negotiations with around 18 countries. The Trump administration has filed plans to appeal the decision.
