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Economy


Spain defends Beckham Law against 'tax trap' claims

Spain’s tax agency has vehemently rejected allegations from a UK-US law firm, asserting that the Beckham Law constitutes a “tax trap” that unfairly exploits foreigners relocating to the country. The law firm, led by American-Canadian Robert Amsterdam, has faced significant backlash......

Australia vows to protect its screen industry from Trump tariffs

The Australian government has pledged to fight "unequivocally" for its screen industry following United States President Donald Trump's recent announcement of a 100 percent tariff on films produced outside of the U.S. Home Affairs Minister Tony Burke expressed his commitment to safeguarding......

U.S. seeks tariff talks with China amid escalating trade tensions

The United States has proactively approached China regarding discussions over President Donald Trump's significant 145% tariffs, according to a recent post from a social media account linked to Chinese state media. This development may indicate Beijing's willingness to consider negotiations. The......

Economic turbulence: Trump navigates first-quarter contraction amid rising discontent

President Donald Trump is urging patience as he faces the fallout from a first-quarter economic contraction, alongside tariffs that have dented his popularity. In a recent address, he expressed optimism about an imminent resurgence in the U.S. economy. The U.S. Commerce Department's advance gross......

Tariff policies under Donald Trump's presidency

The tariff policies imposed by the United States have long had a significant impact on international trade, influencing both partner economies and diplomatic relations. In recent years, U.S. trade policy has shifted towards tariff hikes, economic sanctions, and a clear intention to protect domestic industries......

Vietnam and US begin trade talks amid tariff concerns

Vietnam and the United States have officially begun trade negotiations as Hanoi seeks to ease a hefty 46 percent tariff recently announced by former US President Donald Trump. According to Vietnam’s Ministry of Industry and Trade, Minister Nguyen Hong Dien and US Trade Representative Jamieson......

Markets certain Bank of England will cut interest rates next month

Financial markets now fully anticipate that the Bank of England will lower interest rates in May, driven by the evolving global economic impact of Donald Trump’s trade policies. On Tuesday, LSEG data initially showed an 82% probability of a rate cut from 4.5% to 4.25% on 8 May. However, that probability......

Trump Softens Stance on Fed Chair Powell amid Market Rally

President Donald Trump has stepped back from his previous threats to remove Jerome Powell as Chair of the Federal Reserve. His earlier criticism of Powell, particularly regarding interest rate decisions, had caused significant turbulence in financial markets. However, Trump clarified to reporters at......

Gold soars past 3500 dollars amid trade turmoil and Fed tensions

For the first time in history, the price of gold surged above $3,500 per ounce on Tuesday, driven by escalating trade tensions and growing friction between former President Donald Trump and the Federal Reserve's chair, which also led to a sharp decline on Wall Street. At 7:30 GMT, the precious metal......

China issues warning against trade deals with the U.S. at its expense

On April 21, China accused the U.S. of misusing tariffs and cautioned countries against entering trade deals with the United States that would harm China's interests. This statement escalates tensions in the ongoing trade war between the two largest global economies. China's Ministry of Commerce......

China Calls for Trade Peace but Stands Ready to Respond

China’s ambassador to the United States, Xie Feng, has called on Washington to seek cooperation and mutual understanding amid growing trade tensions, while making it clear that Beijing will defend its interests if provoked. During a public appearance in Washington, as shared on the Chinese embassy’s......

Ukraine and US take first step toward strategic minerals deal

KYIV/WASHINGTON,  Ukraine announced that it had signed a memorandum of intent with the United States as an initial move toward establishing a broader agreement on the development of mineral resources within Ukrainian territory. The initiative has been strongly advocated by former U.S. President......

Trump claims progress in Japan trade talks amid market volatility

President Donald Trump has declared "significant progress" in trade negotiations with Japan, stepping in unexpectedly during a session between U.S. and Japanese officials in Washington, DC. Despite ongoing uncertainty fueled by his administration’s aggressive tariff policies, Trump emphasized......