Latest news with #US-imposed
Fibre2Fashion
15 hours ago
- Business
- Fibre2Fashion
Cotton yarn trade slows in north India amid US tariff concerns
Insights Cotton yarn trade in north India remained sluggish amid concerns over the US-imposed * * per cent tariff and penalty on Indian exports. per cent tariff and penalty on Indian exports. Prices stayed stable in Delhi and Ludhiana, while recycled yarn in Panipat weakened due to poor demand and monsoon disruptions. However, recycled polyester fibre gained slightly, supported by rising crude prices. Cotton arrivals were negligible. To read the full story, become a PRIME member today. All Corporate Members and TexPro Subscribers are eligible to access F2F PRIME CONTENT using the same login credentials. Latest News Insights Latest News Insights Exclusive Industry Articles & Features Exclusive Industry Articles & Features Detailed Article Analytics & Insights Digital Edition of Fibre2Fashion Magazine Digital Edition of Fibre2Fashion Magazine Get notified in your mailbox
Telegraph
2 days ago
- Business
- Telegraph
Trump is winning his trade war. Only the Left-wing media refuses to admit it
The deal 'will bring stability. It will bring predictability', said EU President Ursula von der Leyen at Donald Trump's Turnberry golf resort in Scotland on Sunday. 'Stability' and 'predictability' are not words the EU typically employs when discussing anything connected with the US president. But when you lead an economic bloc that has just been comprehensively outmanoeuvred in a trade dispute, forced into a deal that even your own side says favours the US, you could be forgiven for acting out of character. The basic rate of 15 per cent that will now be charged on most European goods entering the US was perhaps not coincidentally the same rate that Trump had extracted from Japan in a similar deal last week. It is the same rate that could, pending an announced review, become a new general norm in US foreign trade relations. It is also substantially higher than the less than 2 per cent effective rate that the US charged the EU before Trump returned to office. It was 'the best we could get', von der Leyen said almost apologetically in a news conference after the deal was announced. Indeed, a hard US-imposed deadline to conclude negotiations loomed on August 1, only four days after the agreement was reached. Without the deal, US tariffs on EU imports, which form about 20 per cent of the US's total foreign purchases, would have shot up to 30 per cent across the board, with high levies on automobiles, pharmaceuticals, and other key industries in which the EU has a competitive advantage left painfully in place. In other words, Trump appears to be winning his trade war. US markets were flat on Monday, largely in anticipation of corporate earnings reports, and have risen strongly in the year to date. Wiser commentators have also come to the realisation that Trump's tariff strategy is not the economic disaster that so many of them had predicted – noting robust aggregate data and little sign that households are under pressure. The IMF's latest forecasts indicate that the US will continue to significantly outperform its developed world rivals. The president has secured commitments for considerable new investment in the US from a range of trading partners, alongside a more level playing field for American exporters. America's discredited legacy media, however, refuses to accept that there might be any advantages to the president's approach. 'Few are cheering,' said CNN of Trump's EU deal. It also felt compelled to argue that the agreement will not allow the president to escape questions about the simmering scandal around the disgraced financier Jeffrey Epstein. For good measure, the Left-wing news network featured a human interest story claiming Trump's tariffs could 'ruin' a women's golf apparel brand. 'Questions, critiques and discrepancies are hanging over the framework agreement,' declared a sceptical New York Times analysis, apparently written by seven reporters, who accused the deal of having 'drawn plenty of grumbling' from critics just hours after its announcement. On Monday, a follow-up New York Times article warned that the tariffs could inflict higher prices for Botox, Ozempic, and other cosmetic drugs. One could argue that the former paper of record, as it is often called, knows its remaining audience, but that same day it also unironically published an article observing that doctoral graduates in economics, an academic field overwhelmingly critical of Trump's tariffs, now face poor employment prospects. In fairness, on Tuesday, it did acknowledge that the slew of deals 'has seemingly proved Mr Trump right that his tariff threats are a powerful bargaining tool ', but it couldn't resist casting doubt on whether they would prove an economic success. 'Much of this would have happened anyway', sniffed the lead editorial in the Wall Street Journal of the EU's commitment to invest hundreds of billions more in the US. Pointing out that EU investment increased by about $200bn from 2023 to 2024, it joylessly observed that 'those investment inflows will increase the US trade deficit because of balance-of-payments accounting'. Perhaps some of these criticisms will be proven correct. But it is not hard to detect an unwillingness among the president's detractors to accept any upside to his approach, or to acknowledge when their own gloomy predictions have been proven disastrously wrong. Not all observers are so down in the mouth. ' The stock market is at record highs … I don't see a country in a depression … And I would have thought … that these tariffs were going to f‑--ing sink this economy by this time, and they didn't,' admitted the liberal American comedian and political commentator Bill Maher, a sometime Trump critic who has a record of giving the president credit when it is due. If the rest of the news media wants to recover ground among the 69 per cent of Americans who say they place little or no faith in it, its practitioners should recognise a good thing when they see it.
The Sun
3 days ago
- Business
- The Sun
Copper prices dip amid US-China tariff negotiations
LONDON: Copper prices declined slightly on Tuesday as market participants remained cautious amid ongoing trade negotiations between the US and China, along with discussions on US-imposed copper tariffs. Three-month copper on the London Metal Exchange dropped 0.17% to $9,776.5 per metric ton, while Shanghai Futures Exchange copper contracts dipped 0.08% to 78,920 yuan ($10,994.25) per ton. 'The softening in copper prices reflects similar declines in other Chinese futures and is likely to be short-lived, as traders are cautious and closely watching U.S.-China trade talks and developments in U.S. copper import tariffs,' said a Shanghai-based futures analyst. US and Chinese officials held extended talks in Stockholm on Monday, aiming to resolve trade disputes and extend a temporary truce. Meanwhile, Chile, the world's largest copper producer, expects discussions on US tariffs to take place during broader trade negotiations in Washington this week. Other metals on the LME showed mixed movements, with aluminium, nickel, and zinc slipping, while lead and tin saw minor gains. On the SHFE, nickel and tin declined, while lead inched up slightly. - Reuters
Perth Now
4 days ago
- Business
- Perth Now
Australian shares gain as deal averts trade war fears
The local share market has moved higher after the US and the European Union agreed on a preliminary trade deal over the weekend, apparently avoiding the threat of a global trade war. At noon AEDT on Monday, the benchmark S&P/ASX200 index was up 26.8 points, or 0.31 per cent, to 8,693.7, while the broader All Ordinaries had gained 25.4 points, or 0.28 per cent, to 8,958.3. During a meeting at Donald Trump's Scottish golf course, the US president and his EU counterpart announced they had reached agreement on the framework for a trade deal, days before a US-imposed Friday deadline to strike a bargain. The details remained vague and nebulous, however. Traders were also watching for this week's Federal Reserve meeting. Despite Mr Trump's threats, a rate cut is seen as unlikely, with the futures market giving it just three per cent implied odds. ANZ's research team said it would be looking at any tweaks to the language of the rate-setting Federal Open Market Committee statement, as well as comments from Fed chair Jerome Powell that might signal the September meeting is "live" for a rate cut. Closer to home, the Australian Bureau of Statistics on Wednesday will release second-quarter inflation data that could determine whether the Reserve Bank cuts rates next month. Eight of the ASX's 11 sectors were higher at midday, with energy, materials and utilities lower. In the energy sector, Boss Energy had plunged 41.5 per cent to a more than three-year low of $1.99 after the uranium producer flagged higher costs and other challenges at its Honeywell uranium mine in South Australia, which resumed production last year. Other uranium companies were lower as well, with Deep Yellow dropping 7.1 per cent and Paladin retreating 3.9 per cent. In the materials sector, BHP was down 0.9 per cent, Rio Tinto had lost 1.1 per cent and Fortescue had retreated 0.5 per cent. All of the big four banks were higher, however, with CBA, ANZ and NAB all expanding 0.6 per cent and Westpac growing 0.3 per cent. WiseTech Global was down 0.2 per cent as the logistics platform named a new chief executive. The Australian dollar was buying 65.75 US cents, from 65.81 US cents at 5pm on Friday.
GMA Network
6 days ago
- Business
- GMA Network
Approved commitments hit P90.96B in Jan-July 2025, up 100% —PEZA
The Philippine Economic Zone Authority (PEZA) saw a big increase in the value of investment commitments approved in the first seven months of 2025 compared to the same period last year. In a statement on Saturday, PEZA said it approved P90.96 billion worth of pledged new and expansion projects from January to July 2025, up 100% from P45.48 billion worth of green-lit investment commitments year-on-year. The investment promotion agency said 150 newly approved and expanding projects saw a 25% increase from the 120 projects approved during the same period in 2024, 'highlighting strong investor confidence and sustained trust in the Philippines as a premier investment hub.' The approved investments are expected to create 35,874 direct Filipino jobs, up 42.02% from the 25,259 jobs seen in the same period in 2024. The PEZA is also projecting a 24.37% growth in exports, reaching $2.003 billion. 'This 100% surge in investment approvals in just seven months is a resounding vote of confidence in the Philippines as a competitive, resilient, and innovation-ready investment destination,' said PEZA Director General Tereso Panga. 'Investors are scaling up in our ecozones because they recognize our stable policies, world-class talent, and our whole-of-government commitment to building smarter, greener, and more inclusive growth centers across the country,' he added. For July alone, the PEZA said it approved 17 high-impact new and expansion projects that are poised to inject P18.6 billion in investments, generate an estimated $744.06 million in annual export revenues once fully operational, and create 2,891 direct jobs for Filipino workers. The approved projects this month span a range of industries, including 11 in export manufacturing, three in facilities development, two in IT-BPM, and one in domestic-market-oriented manufacturing. The projects are 'strategically located' across Metro Manila, CALABARZON, Central Luzon, and Central Visayas. Meanwhile, the PEZA said it remains optimistic as the Philippines continues high-level negotiations to compensate for the newly adjusted 19% US-imposed tariff on Philippine exports. The agency said the Philippines has one of the lowest US tariff rates in Southeast Asia, as government and industry leaders are hopeful about the renewal of the US Generalized System of Preferences (GSP) and the start of free trade agreement (FTA) negotiations with the US. — VBL, GMA Integrated News
