Latest International trade News
A study says the global luxury goods market will shrink in 2025. Trump tariffs could make it worse
MILAN (AP) — Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump. “This could...
Frustrated Americans await the economic changes they voted for with Trump
WASHINGTON (AP) — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. They could get it. President-elect Donald Trump has vowed to topple many of the Biden...
Steve Madden to cut goods imported from China by up to 45% as it prepares for Trump's tariff pledge
NEW YORK (AP) — Shoe brand Steve Madden will be cutting the goods that it imports from China by as much as 45% next year as it prepares for President-elect Donald Trump's pledge to slap steep and sweeping tariffs on imports from other countries. The company, known for its trendy...
China is bracing for fresh tensions with Trump over trade, tech and Taiwan
TAIPEI, Taiwan (AP) — The first time China faced Donald Trump in the White House, there was a trade war, a breach of protocol involving Taiwan’s former leader, and a president-to-president bromance that turned sour. As President-elect Trump prepares to start his second term in...
China's exports grew 12.7% in October, fastest pace in more than 2 years
HONG KONG (AP) — China's exports rose 12.7% in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. The report came a day after former President Donald Trump won Tuesday’s election, gaining a second term as...
Federal Reserve is set to cut rates again while facing a hazy post-election outlook
WASHINGTON (AP) — No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest...
What to know about Europe's tariffs on Chinese electric vehicles
FRANKFURT, Germany (AP) — The European Union has finalized its sharply higher customs duties on electric vehicles imported from China. EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and Beijing's burgeoning exports of green technology to the 27-nation...
Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
WASHINGTON (AP) — Treasury Secretary Janet Yellen told world financial leaders Tuesday that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S....
Trump's economic plans would worsen inflation, experts say
WASHINGTON (AP) — With characteristic bravado, Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely." It’s a message tailored for Americans who are still exasperated by the jump in consumer prices that began 3 1/2 years ago. ...
World Trade Organization slightly raises 2024 goods trade forecast but wary of potential setbacks
GENEVA (AP) — The World Trade Organization raised its outlook for global goods trade this year slightly, but cautioned Thursday that increasing geopolitical tensions and uncertainty over economy policy pose “substantial” risks to its forecast. The Geneva-based WTO projected...
