Tag: USA

India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs.

Trade of Venezuelan oil to top buyer China stalled on Tuesday after U.S. President Donald Trump’s order threatening tariffs on countries buying from Caracas created fresh uncertainty, days after U.S. sanctions targeting China’s imports from Iran.

Iranian oil shipments into China are set to fall in the near-term after new U.S. sanctions on a refiner and tankers, driving up shipping costs, but traders said they expect buyers to find workarounds to keep at least some volumes flowing.

In recent economic news, the number of initial jobless claims has seen a slight uptick, as reported by the most recent U.S. economic data. The actual number of individuals who filed for unemployment insurance for the first time during the past week was 223K. This figure, while exhibiting a small rise, fell just short of the forecasted number of 224K. 

The average US 30-year mortgage rate rose for the first time since early January, causing a pullback in refinancing and tempering purchase activity.

Russia’s oil exports remained near a four-month high ahead of talks between President Vladimir Putin and US counterpart Donald Trump aimed at bringing a halt to the war in Ukraine.

US retail sales rose by less than forecast in February and the prior month was revised lower, adding to concerns of a pullback in consumer spending.

Oil advanced as the US tightened sanctions against Iran and Russia, countering some of the slump triggered by a dour demand forecast from the International Energy Agency on Thursday.

The number of Americans filing new applications for unemployment benefits fell last week, but sharp government spending cuts and an escalating trade war threaten labor market stability.

Wholesale prices were flat in February providing some more welcome news for inflation amid tariff fears, the Bureau of Labor Statistics reported Thursday.

President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.

President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

Canada will announce C$29.8 bln in retaliatory tariffs on the United States on Wednesday in response to U.S. President Donald Trump’s steel and aluminum tariffs, a Canadian official said.

Σε άμεσα αντίποινα προχώρησε η Ευρωπαϊκή Ενωση ελάχιστες ώρες μετά την επιβολή δασμών 25% από τον Ντόναλντ Τραμπ στις εισαγωγές ευρωπαϊκού χάλυβα και αλουμινίου, με τις δύο πλευρές πλέον να είναι αντιμέτωπες με εμπορικό «πόλεμο».

New 25% tariffs on steel and aluminium imports into the United States are set to take effect on Wednesday.

U.S. President Donald Trump has signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already owned by the government, disappointing some in the market who had hoped for a firm plan to buy new tokens.

Applications for US unemployment benefits fell last week, returning to muted levels seen at the start of the year.

US President Donald Trump is exempting the automakers from 25% tariffs for one month after negotiating with major industrial leaders. Auto stocks rose following the news.

U.S. businesses created just 77,000 new jobs in February, ADP said, a sign the economy could be slowing as businesses weighed how to respond to President Trump ‘s tariffs.