The US will cut the "de minimis" tariff for low-value shipments from China to as low as 30 percent, according to a White House executive order and industry experts, further de-escalating a potentially damaging trade war between the world's two largest economies. The order published late Monday offers some relief to big Chinese e-commerce players Shein and Temu and follows a weekend deal between Beijing and Washington to unwind for 90 days most of the tit-for-tat tariffs imposed on each other's g

ANALYSIS A truce in the US-China trade war set off a relief rally in stocks on Monday and propelled the dollar higher, but investors fear further negotiations could prove a long slog, as risks of a global economic slowdown persist. After two days of talks with Chinese officials in Geneva, US Treasury Secretary Scott Bessent said the two sides agreed to a 90-day pause under which tariffs would fall by over 100 percentage points. That leaves US tariffs on Chinese goods at 30 percent from May 14 to

Samsung Electronics has reclaimed its position as the world’s leading smartphone vendor, surpassing Apple in the first quarter of this year. According to market research firms Counterpoint Research, IDC and Canalys, Samsung ranked first in market share, selling 61 million smartphones and holding a 20 percent share during the period. This growth in shipments was driven by the success of the Galaxy S25 series and the early launch of the new Galaxy A series. Apple, which sold 58 million smartphones

WASHINGTON (AP) -- President Donald Trump says he planned to sign an executive order on Monday that, if implemented, could bring down the costs of some medications -- reviving a failed effort from his first term on an issue he’s talked up since even before becoming president. The order Trump is promising will direct the Department of Health and Human Services to tie what Medicare pays for medications administrated in a doctor’s office to the lowest price paid by other countries. “I will be insti

GENEVA (AP) — The first day of sensitive talks between US and Chinese delegations over tariffs that threaten to upend the global economy ended without major breakthroughs being announced, but US President Donald Trump nonetheless touted “GREAT PROGRESS." The meeting lasted over 10 hours in Switzerland and featured Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and a delegation led by Chinese Vice Premier He Lifeng. Hours after talks had concluded, Trump took to social m

President Donald Trump on Friday floated cutting tariffs on China to 80 percent ahead of a weekend meeting as he looks to deescalate the trade war. Top US officials are set to meet with a high-level Chinese delegation this weekend in Switzerland in the first major talks between the two nations since Trump sparked a trade war with stiff tariffs on imports. “80% Tariff on China seems right! Up to Scott B,” Trump wrote on his social media account on Friday morning, referring to Scott Bessent, his T

WASHINGTON (Reuters) — US President Donald Trump on Wednesday suggested China initiated upcoming senior-level trade talks between the two countries and said he was not willing to cut US tariffs on Chinese goods to get Beijing to the negotiating table. The US announced on Tuesday that Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will meet with China's top economic official on Saturday in Switzerland, marking an initial step in potential negotiations over a blisterin

US President Donald Trump's tariffs are increasingly clogging up the wheels of a world economy which for decades were greased by predictable and relatively free trade. Big-name multinationals right down to niche e-commerce players last week cut sales targets, warned of job cuts and reviewed their business plans, while major economies revised down growth prospects amid bleak data read-outs. While financial markets are betting the US and China will pull back from an all-out trade war and that Trum

Warren Buffett will stay on as chairman of Berkshire Hathaway after Vice Chairman Greg Abel takes over as chief executive officer, the conglomerate said Monday. Berkshire made the announcement two days after the 94-year-old Buffett revealed at the company's annual meeting in Omaha, Nebraska that he would step down as CEO, ending six decades at the helm for the legendary investor. Shares of Berkshire closed down about 5 percent, lowering the company's market value by $59 billion to $1.11 trillion

TOKYO (AFP) — The Bank of Japan on Thursday left its key interest rate unchanged but revised down its growth forecasts, warning that US trade tariffs are fuelling economic uncertainty. "The introduction of wide-ranging tariffs is expected to impact global trade activity," the central bank said. "Heightened uncertainties regarding policies including tariffs are likely to have a large impact on business and household sentiment around the world and on the global financial and capital markets." Sinc

WASHINGTON (AFP) -- The US economy unexpectedly contracted in the first three months of the year on an import surge triggered by Donald Trump's tariff plans, although the president pinned the blame squarely on his predecessor. The sharp increase in imports was a reflection of businesses and consumers stockpiling foreign goods to get ahead of Trump's sweeping trade levies, which went into effect earlier this month. All three major Wall Street indices fell on the economic news, before paring losse

WASHINGTON (AP) — Senate Republicans in the US narrowly voted down a Democratic resolution Wednesday that would have blocked global tariffs announced by Donald Trump a month ago, giving the president a modest win as lawmakers in both parties have remained skeptical of his trade agenda. Trump announced the far-reaching tariffs on nearly all US trading partners on April 2 and then reversed himself a few days later after a market meltdown, suspending the import taxes for 90 days. Amid the uncertain

Global electric vehicle sales saw a sharp rise in early 2025, with registrations jumping 36.9 percent year-over-year in January and February to a total of 2.51 million units, according to energy market research firm SNE Research. The surge underscores the growing dominance of Chinese automakers, which continue to benefit from strong government support and a thriving domestic market. Leading the global market was China’s BYD, which sold 540,000 units, an 80.3 percent increase from the same period

WASHINGTON (Reuters) -- President Donald Trump's administration planned to move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said. "President Trump is building an important partnership with both the domestic automakers and our great American workers," Commerce Secretary Howard Lutnick said in a statement from the Wh

WASHINGTON (AFP) -- US President Donald Trump on Saturday urged free transit for American commercial and military ships through the Panama and Suez canals, tasking his secretary of state with making progress "immediately." Trump has for months been calling for the United States to take control of the Panama Canal but his social media post also shifted focus onto the vital Suez route. "American Ships, both Military and Commercial, should be allowed to travel, free of charge, through the Panama an