BOJ holds rates, lowers growth forecasts

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

May 1, 2025

US economy unexpectedly shrinks, Trump blames Biden

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

May 1, 2025

US Senate votes down resolution to block Trump's tariffs

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

May 1, 2025

[Graphic News] Global EV sales surge 36.9% as Chinese automakers take lead

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

April 30, 2025

Trump to reduce impact of auto tariffs, Commerce secretary says

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

April 29, 2025

Trump says US ships need free travel through Panama, Suez

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

April 27, 2025

Trump says US ships need free travel through Panama, Suez

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

April 27, 2025

EU slaps fines on Apple and Meta, risking Trump fury

BRUSSELS (AFP) — The EU on Wednesday slapped Apple and Meta with 700 million euros ($795 million) in fines for breaking digital competition rules, risking the wrath of US President Donald Trump. The penalties threaten to cause more tension in the already fraught relationship between the bloc and Trump, as the two sides discuss a deal to avoid his sweeping tariffs on the EU. The European Commission fined Apple 500 million euros after concluding the company prevented developers from steering custo

April 24, 2025

Trump seeks 'fair deal' with China but pathway unclear

WASHINGTON (AFP) -- US President Donald Trump on Wednesday played up prospects of a "fair deal" on trade with China, but his top officials offered few details of how Washington might de-escalate its damaging tariff war with Beijing. Trump told reporters his country would have a "fair deal with China," adding that "everything's active" when asked if Washington was talking to Beijing. But how soon the tariffs can be lowered "depends on them," Trump said, referring to Beijing, even as he maintained

April 24, 2025

[Graphic News] S. Korea becomes top cosmetics exporter to US, surpassing France

South Korea became the leading cosmetics exporter to the United States last year, overtaking France for the first time as global demand for Korean beauty products continues to grow. Citing data from the US International Trade Commission, Bloomberg reported that South Korea’s cosmetics exports to the US reached $1.701 billion in 2024, surpassing France’s $1.263 billion. Canada ranked third with $1.022 billion in exports, followed by Italy, China, Mexico, the United Kingdom and Japan. During the s

April 24, 2025

US moves to scrap synthetic food dyes

WASHINGTON (Reuters) — Health Secretary Robert F. Kennedy Jr. and FDA Commissioner Marty Makary said on Tuesday that the agency plans to remove synthetic food dyes from the US food supply by revoking authorizations of some and working with industry to voluntarily remove others. They cited concerns about a possible link between consumption of the dyes and health conditions like ADHD, obesity and diabetes, an area many scientists say requires more research. It was not clear what studies Makary was

April 23, 2025

Trump renews attack on Fed Chair Powell

WASHINGTON (AP) -- US President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Trump called Powell “a major loser” on his social media site, Truth Social, and wrote that energy and grocery prices are “substantially lower” and “there is virtually No Inflation.” Yet Trump said the economy could slow without rate cuts. Gas prices have fallen for the past two months, in part because

April 22, 2025

[Graphic News] Korea leads global hair loss treatment market

A recent survey reveals that South Korean companies account for one out of every two global hair loss treatment cosmetic products. According to the Korean Intellectual Property Office, Korea has dominated international patent filings for hair loss treatment cosmetics over the past 22 years, from 2002 to 2023. Korean companies have submitted 576 patent applications, representing 42.9 percent of the total 1,344 patents filed worldwide, securing the top position. Japan follows at No. 2 with 272 pat

April 22, 2025

Analysts warn US could be handing chip market to China

SAN FRANCISCO (AFP) -- As the Trump administration attempts to choke off exports of strategically important computer chips to China, experts say the effort might well backfire, fueling innovation at Chinese firms that could help them seize the world semiconductor market. "What's actually happening is that the US government right now is handing China a big win as it tries to get their own chip business going," said Jack Gold, principal analyst at J.Gold Associates. "Once they're competitive," he

April 21, 2025

US eases port fees on China-built ships after industry backlash

LOS ANGELES (Reuters) - The Trump administration shielded on Thursday domestic exporters and vessel owners servicing the Great Lakes, the Caribbean and US territories from port fees to be levied on China-built vessels, aiming to revive US shipbuilding. The Federal Register notice posted by the US Trade Representative was watered down from a February proposal for fees on China-built ships of up to $1.5 million per port call that sent a chill through the global shipping industry. Ocean shipping tr

April 18, 2025