Cambodian factory workers exit their factory as they take a lunch break in Phnom Penh on March 2, 2020.Tang Chhin Sothy | Afp | Getty ImagesAs European markets tumbled Thursday following U.S. President Donald Trump’s stunning tariff announcements, big retail names selling products ranging from sportswear to jewelry were among the worst performers.A host of goods sold to U.S. consumers by European companies are manufactured in, or pass through factories in, Southeast Asia — a region encompassing developing, export-reliant economies that were unexpectedly hit by some of Trump’s highest duties.Cambodia — where close to a million people work in the garment and footwear factories…
Author: usaeverydaylife
Chinese national flags flutter on boats near shipping containers at the Yangshan Port outside Shanghai, China, February 7, 2025. Go Nakamura | ReutersBEIJING — China’s reaction to new U.S. tariffs will likely focus on domestic stimulus and strengthening ties with trading partners, according to analysts based in Greater China.Hours after U.S. President Donald Trump announced additional 34% tariffs on China, the Chinese Ministry of Commerce called on the U.S. to cancel the tariffs, and vowed unspecified countermeasures. The sweeping U.S. policy also slapped new duties on the European Union and major Asian countries.Chinese exports to the U.S. this year had already…
‘Fast Money’ traders talk their tariff concerns after the market plummet. Source link
An aerial view of containers sitting stacked at Nanjing Port Longtan Container Terminal in Nanjing, Jiangsu Province of China, on March 17, 2025.Vcg | Visual China Group | Getty ImagesTrade experts tell CNBC that the tariffs announced by President Donald Trump on Wednesday are equivalent to building a trade wall around the U.S. economy of nearly $1 trillion.With the way tariffs work, the estimated costs of the new tariffs U.S. businesses will be paying is $654 billion a year, according to Trade Partnership Worldwide, and it’s a number that will grow — the figure does not include up to $300…
South Korea’s impeached President Yoon Suk Yeol arrives for his impeachment trial at the Constitutional Court in Seoul, South Korea, on Jan. Kim Hong-ji | ReutersSouth Korea’s Constitutional Court Friday upheld the impeachment of President Yoon Suk Yeol, ousting him from office.The decision now starts a 60-day countdown where a presidential election must be held to select the next president. In the interim, Prime Minister Han Duck-soo has been reinstated as acting president following a decision by the constitutional court on March 24.In a broadcast on South Korea television, the acting chief of the Constitutional Court Moon Hyung-bae said the decision…
The day after President Trump antagonized world leaders across the globe with his most sweeping set of tariffs yet, he was scheduled to fly to Florida and potentially see the one leader he has called his “favorite president.”That leader, President Javier Milei of Argentina, had flown overnight to receive an award on Thursday at a right-wing gala at Mar-a-Lago. Mr. Trump was scheduled to also be there late Thursday — Mr. Milei said Mr. Trump would receive an award, too — and Mr. Milei said he hoped the two would meet.It was Mr. Milei’s 10th trip to the United States…
David Zervos, Jefferies, joins ‘Fast Money’ to talk his take on tariffs and the market downturn. Source link
With industries like technology and consumer discretionary driving Thursday’s market meltdown following President Donald Trump’s rollout of new tariffs, CNBC’s Jim Cramer points investors to the same sectors that rose after the dot-com bubble burst in 2000.Stocks cratered on Thursday, with the Dow falling nearly 4%, the S&P 500 shedding 4.8%, the Nasdaq plunging almost 6% and the Russell 2000 losing 6.4%. Still, Cramer said, there are some companies that will do better than others in the era of Trump tariffs.”You buy stocks that have a couple of important characteristics, encapsulated by this one sentence: You want stocks of domestic…
Traders work on the floor of the New York Stock Exchange during morning trading on April 03, 2025 in New York City. Michael M. Santiago | Getty Images U.S. President Donald Trump’s so-called liberation day for the country came and went. What, exactly, did his trade plans liberate the world’s largest economy from? Leadership of the global economic and financial system? King dollar’s seat on the throne? Cordial relations with trading partners and political allies?Of course, that’s all speculation. The tariffs, apart from the 25% duty on autos, have yet to kick in. Trump’s universal 10% tariffs will take effect April…
CNBC’s Steve Liesman joins ‘Fast Money’ to talk the latest recession forecasts. Source link
