Tag: US

Britain and the United States are poised to agree to zero tariffs on pharmaceutical products, with an announcement due at the White House on Monday, according to two sources familiar with the matter.

The U.S. labor market is showing further signs of weakening as the pace of layoffs has picked up over the past four weeks, payrolls processing firm ADP reported Tuesday.

The U.S. economy added substantially more jobs than expected in September, according to a long-awaited report Thursday from the Bureau of Labor Statistics.

Fixed income markets now project a 1 in 3 chance that the Federal Open Market Committee elects to cut interest rates on December 10.

Citing worries about inflation and signs of relative stability in the labor market after two U.S. interest rate cuts this year, a growing number of Federal Reserve policymakers are signaling reticence on further easing, helping push financial market-based odds of a reduction in borrowing costs in December to below 50%.

President Donald Trump late Wednesday signed into law a funding bill to end the longest federal government shutdown in U.S. history.

The U.S. Senate on Monday approved a compromise that would end the longest government shutdown in U.S. history, breaking a weeks-long stalemate that has disrupted food benefits for millions, left hundreds of thousands of federal workers unpaid and snarled air traffic.

The U.S. and Switzerland are getting close to signing a trade deal to lower tariffs of 39% that President Donald Trump slapped on the country in August.

The US Senate took the first step to ending the longest shutdown in history on Sunday night, after a group of Democratic lawmakers crossed party lines and endorsed a compromise plan to reopen the government.

China has rolled back a number of restrictions on its export of critical minerals and rare earth materials to the United States, in a sign that a trade truce between the world’s two largest economies is holding.

President Donald Trump and Australian Prime Minister Anthony Albanese on Monday signed an agreement on critical minerals and rare earths that Albanese said includes plans for projects worth a total of up to $8.5 billion.

U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.

Chinese rare earth magnet companies have been facing tighter scrutiny on export license applications since September, sources say, even before Beijing’s move last week to expand controls over the critical minerals used in magnets.

President Donald Trump said Monday that all medium- and heavy-duty trucks imported into the United States will face a 25% tariff rate starting November 1, a significant escalation of his effort to protect U.S. companies from foreign competition.

The European Commission has pledged to support Rome after the US threatened Barilla and other Italian pasta makers with tariffs of up to 92 per cent over what Washington describes as dumping practices.

Taiwan will not agree to a deal with the United States for half of all semiconductor production to take place in the country, the island’s top tariff negotiator said on Wednesday after returning home.

Private payrolls saw their biggest decline in two-and-a-half years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown.

A brief roller coaster ride for mortgage rates caused yet another swing in demand. After dropping to a three-year low two weeks ago, rates then shot right back up again.

The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long, grueling standoff that could lead to the loss of thousands of federal jobs.

The European Commission will propose cutting steel import quotas by nearly half and hiking duties on volumes above those levels to 50% in line with tariffs imposed by the U.S. and Canada, two sources briefed on details told Reuters on Wednesday.