Category: Economy

China’s Ministry of Commence (MOFCOM) said on Wednesday that it has added 12 US entities to the export control list. In order to safeguard national security and interests and fulfill international obligations such as non-proliferation, in accordance with the relevant provisions of the Export Control Law of China and the regulations on export control of dual-use items, the MOFCOM issued an announcement to include 12 US entities in the export control list and prohibit the export of dual-use items to…

China announced a 34% tariff on all products imported from the U.S. on Friday, escalating the trade war between the world’s two biggest economies. The move came two days after President Donald Trump imposed the same tariff on all Chinese imports as part of what he called reciprocal tariffs on a long list of U.S. trade partners. Combined with 20% in other levies that Trump has imposed on Chinese goods since returning to office in January, the total U.S. tariff…

In sum:

Stellantis pauses production in Mexico and Canada due to tariffs
Automakers face 25% import tax on imported autos
UAW criticizes Stellantis for unnecessary layoffs
US automaker shares fall sharply

In Central Texas, a bitter fight over a $1 billion water project offers a preview of the future for much of the state as decades of rapid growth push past the local limits of its most vital natural resource. On one side: Georgetown, the fastest growing city in America for three years straight, which in 2023 signed a contract with an investor-funded enterprise to quickly begin importing vast volumes of water from the Simsboro Formation of the Carrizo Wilcox Aquifer,…

The Financial Conduct Authority (FCA) announced plans to ease British mortgage lending rules, aiming to help more people buy homes. The regulator is preparing to review and potentially relax stress-testing requirements that assess borrowers’ ability to handle higher interest rates. Additionally, the FCA will launch a public debate in June on the mortgage market, focusing on risk appetite, affordability testing, product innovation, lending to older borrowers, and consumer information needs. A consultation in May will explore ways to simplify remortgaging,…

The Trump administration plans to reduce the Department of Veterans Affairs workforce by around 72,000 employees, from approximately 470,000 to 398,000. Veterans Affairs Secretary Doug Collins stated that the cuts would not impact veterans’ healthcare or benefits, and the department would continue hiring for essential roles. Collins emphasized that this move was part of efforts to make the department more efficient and transparent. The cuts are expected to take place in August. The American Federation of Government Employees, representing over…

Rep. Rick Larsen (D-Wash.) criticized the General Services Administration’s (GSA) plan to sell hundreds of federal properties, though a U.S. News article mistakenly attributed his comments to Rep. John Larson (D-Conn.). The GSA initially listed about 440 federal buildings, totaling nearly 80 million square feet, for sale as part of the Trump administration’s efforts to reduce government size and spending. However, following backlash from workers, officials, and others, the GSA paused the sales and removed the listings from its website….

Video: The asset-management giant BlackRock, which has invested huge amounts in Russian state-owned energy and banks, and which is also invested in rebuilding Ukraine, is now buying property that will give them control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the Panama Canal. Other ports are in Mexico, the Netherlands, Egypt, Australia, Pakistan and elsewhere.

March 3: China is studying and formulating relevant countermeasures in response to the US’ threat of imposing an additional 10 percent tariff on Chinese products under the pretext of fentanyl, the Global Times learned from a reliable source. The countermeasures will likely include both tariffs and a series of non-tariff measures, and US agricultural and food products will most likely be listed, according to the source, who spoke on the condition of anonymity. “If the US insists on imposing unilateral…

The Trump administration has suspended delivery of all US military aid to Ukraine, a White House official has said, blocking billions in crucial shipments as the White House piles pressure on Ukraine to sue for peace with Vladimir Putin. The decision affects deliveries of ammunition, vehicles, and other equipment including shipments agreed to when Joe Biden was president. It comes after a dramatic blow-up in the White House on Friday during which Donald Trump told Volodymyr Zelenskyy that he was…

US manufacturers reported steep declines in new orders and employment in February, fuelling fears that the economy is losing momentum as growth expectations also fell sharply. The ISM Manufacturing purchasing managers’ index on Monday dropped to 50.3 in February from 50.9 the previous month, leaving it just above contraction territory, while secondary indices pointed to a sharp fall in new orders from 55.1 to 48.6. The Federal Reserve Bank of Atlanta’s running estimate of US GDP growth, also published on…

Unusually for him, Donald Trump made no great fuss as he signed one drily worded executive order last Tuesday. Public attention was distracted that day – by the headline-grabbing drama of Elon Musk bludgeoning his way through the federal bureaucracy, by immigrants deported to Guantánamo Bay, and by the torrent of other directives Trump has issued since his inauguration last month. But Trump’s 69th executive order of his second presidency, under the deceptive title of “Ensuring accountability for all agencies”,…

The following article is from a Russian news source, Tass, which is controlled by the Russian Government. China’s DeepSeek has transformed the global market of artificial intelligence (AI) and has put the leadership of the US in this sphere at jeopardy, the Foreign Affairs magazine said. According to its estimates, DeepSeek is paving the way for China to dominate in the global AI market. The technology of artificial intelligence may create an edge in the military sector, which further emphasizes…

The villa is stunning. The private swimming pool; the lush, landscaped terrace with firepit; the long dining table with its expansive balcony view; the pingpong table; the piano. But the jewel in the crown, according to the Airbnb listing, is the experience of watching the sun rise over the nearby mountains from the luxury of the generous master bedroom. The villa with views of the Judean mountains is in a settlement located on land seized from Palestinians and considered illegal…