Federal court blocks Trump from imposing sweeping tariffs under emergency powers law (ANI) WASHINGTON: A federal court on Wednesday blocked US President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, swiftly throwing into doubt Trump’s signature set of economic policies that have rattled global financial markets, frustrated trade partners and raised […]
US President Trump (Image credits: AP) A federal court ruled on Wednesday that US President Trump does not have the authority to impose broad tariffs on imports using emergency powers.The decision, delivered by a three-judge panel at the Court of International Trade in New York, came after several lawsuits argued that Trump exceeded his legal […]
Beyond Trump’s film tariffs: Is Hollywood really in decline? (Image credit: AP) When Donald Trump announced plans to impose a 100% tariff on any film “produced in foreign lands,” a globalized US film industry began to panic.Shares in major production companies like Netflix and Disney immediately fell due to an assumed rise in costs when […]
ASEAN, Gulf nations, and China convened in Kuala Lumpur to bolster economic cooperation (Image credits: AP) Southeast Asian and Gulf nations are set to hold a three-way summit with China on Tuesday in Malaysia’s Kuala Lumpur, aiming to boost economic ties and strengthen regional cooperation amid growing global uncertainty and rising US trade tension.The summit […]
US President Donald Trump (Pic credit: AP) US President Donald Trump defended his hardline tariff strategy on Sunday, emphasising that his goal is to bolster American production of military and high-tech goods, not revive the country’s textile industry.“We’re not looking to make sneakers and T-shirts,” Trump told reporters before boarding Air Force One in New […]
Malaysian Prime Minister Anwar Ibrahim (Image: AP) Malaysia is set to host the 46th edition of the Association of Southeast Asian Nations (Asean) Summit from 26 to 27 May. The summit will bring together leaders from Southeast Asian nations to discuss key regional issues, including economic cooperation, security and sustainable development.Malaysian prime minister Anwar Ibrahim […]
NAIROBI: It’s crunch time for the maker of Levi’s and Wrangler jeans in Kenya’s capital, Nairobi. Hundreds of sewing machines whir in a crowded, air-conditioned factory. On another floor, workers pack clothes destined for the US market. The fate of about 16,000 workers in the factory at the United Aryan export processing zone hangs in […]
Tokyo Container Terminal is seen in Tokyo (AP) TOKYO: Japan’s exports to the United States, its largest single trading partner, fell nearly 2% in April as tariff hikes imposed by President Donald Trump hit home. Globally, exports rose just 2% year-on-year, down from 4% in March, leaving a trade deficit for the first time in […]
US President Donald Trump on Saturday told Walmart to “eat the tariffs” after the retail giant warned that it would have to raise prices because of the new import taxes. Trump said that the retail giant should not blame tariffs for the price hikes.The US’s biggest retailer recently said that tariffs, even at reduced levels, […]
NEW DELHI: The US-China trade deal has increased the headache for Indian negotiators, who are once again headed to Washington DC to discuss the proposed bilateral trade deal.While signalling movement towards a deal between the world’s two largest trading nations, the 90-day truce, which will see them slash tariffs by 115 percentage points, opens the […]
