Taiwan's President Is Running Out of Options
Domestically, Lai is dealing with the fallout from a bruising vote that will embolden the self-ruled island's pro-Beijing opposition. Globally, he's navigating a trade war, with no assurance of success.This puts his government in its weakest position since he took office last year.
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These Pictures Of Trump's Finished White House Rose Garden Patio Are Going Viral For All Of The Wrong Reasons
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Bitcoin Is Suddenly On The Brink As $300 Billion Crypto Shock Sparks Price Crash Fears
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Charting the Global Economy: US Job Market Wavers in Cue for Fed
(Bloomberg) -- The US labor market is wavering after a slowdown in economic growth during the first half of the year — implications of heightened uncertainty tied to trade policy. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach San Francisco in Talks With Vanderbilt for Downtown Campus Seeking Relief From Heat and Smog, Cities Follow the Wind President Donald Trump unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his effort to reshape international commerce and bolster American manufacturing. The baseline rates for many trading partners remain unchanged at 10% from the duties Trump imposed in April. Signs of a sluggish job market and the risk of a reacceleration in inflation due to higher import duties are dueling forces dividing Federal Reserve officials over the path of interest rates. In the wake of a weak jobs report on Friday, Treasury yields declined on bets the Fed will lower interest rates as soon as September after keeping them unchanged this week. In Canada, central bankers left interest rates unchanged, while keeping the door open to more cuts if the economy weakens and inflation pressures stay in check. The Bank of Japan also held the line on borrowing costs. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics: US Job growth slowed sharply over the past three months and the unemployment rate rose in July, showing the labor market is shifting into a lower gear amid widespread economic uncertainty. Not only is job growth cooling markedly and unemployment rising, it's harder for unemployed Americans to get a job and wage gains have largely stalled. That poses further risks to a slowdown in consumer and business spending that's already underway. 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Chile's economic activity unexpectedly fell for the second month in June as a plunge in mining offset gains across other sectors in one of Latin America's richest nations. Mexico's quarterly economic growth came in higher than expected in the three months through June as manufacturing and services powered Latin America's second-largest economy despite US tariffs. World At an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago. Trump's latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US. The months of negotiations, marked by Trump's social-media threats against US allies and foes alike, ended with new rates that were largely in line or lower than those on April 2. The world economy will keep weakening and remains vulnerable to trade shocks even though it is showing some resilience to Trump's tariffs, the International Monetary Fund said. Its updated projections are slightly better than those in April, but largely reflect distortions such as front-loading in anticipation of tariffs. In addition to the US, Canada and Japan, central bankers in Pakistan, Georgia, Singapore, Brazil, Colombia, Dominican Republic, Malawi and Eswatisi held interest rates steady. Chile, South Africa and Mozambique cut rates. Ghana lowered borrowing costs by the most on record. --With assistance from Nazmul Ahasan, Vinícius Andrade, Maya Averbuch, Ruchi Bhatia, Matthew Burgess, Katia Dmitrieva, Toru Fujioka, Selcuk Gokoluk, Philip J. Heijmans, William Horobin, John Liu, Yujing Liu, Matthew Malinowski, Mark Niquette, Swati Pandey, Jana Randow, Augusta Saraiva, Zoe Schneeweiss, Shruti Srivastava, Jorge Valero and Fran Wang. 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