Latest news with #emergingMarkets
Bloomberg
7 days ago
- Business
- Bloomberg
Asian Economies Brace for Trump Tariffs: Citigroup
Asian economies may be less impacted by US President Donald Trump's sectoral tariffs on copper, but will be preparing for broader repercussions if tariffs are levied on semiconductors and pharma, according to Citigroup Global Markets Head of EM Economics Johanna Chua. (Source: Bloomberg)
Yahoo
08-07-2025
- Politics
- Yahoo
Growing pains and absent leaders hang over Brics summit
The Brics bloc of developing nations likes to boast that it represents nearly half the world's population, but its annual summit this
Bloomberg
07-07-2025
- Business
- Bloomberg
Dollar Jumps Ahead of Trump Tariff Deadline
The dollar rose against currencies globally, climbing to its strongest level in more than a week on speculation Donald Trump's trade tariffs won't hurt the US economy as badly as feared or require aggressive interest-rate cuts to remedy. A gauge of the dollar's strength rose as much as 0.5%, reaching its strongest level since June 27. That left the greenback higher versus the majority of G-10 currencies, strengthening the most versus the yen and the Australian and New Zealand dollars, while pushing a measure of emerging-market currencies toward its steepest drop since April.
Bloomberg
07-07-2025
- Politics
- Bloomberg
BRICS in Wait-and-See Mode After Trump Threatens Extra Tariffs
BRICS officials kept their collective heads down on Monday morning as they awoke to an overnight threat by US President Donald Trump to penalize them for adopting policies he said were 'anti-American.' Members of the ten-nation grouping of emerging-market economies were reluctant to engage with Trump's warning of additional 10% tariffs as they left their hotels in Rio de Janeiro for the concluding day of the BRICS summit hosted by President Luiz Inacio Lula da Silva.
Al Arabiya
07-07-2025
- Business
- Al Arabiya
China says BRICS not seeking ‘confrontation' after Trump's 10 pct tariff threat
China said on Monday that BRICS, the grouping that also includes Brazil, Russia and India, was not seeking 'confrontation' after US President Donald Trump vowed to impose an extra 10 percent tariff on countries aligning with the bloc. 'Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward,' foreign ministry spokeswoman Mao Ning said. Trump said he would send the first tariff letters to various countries on Monday, days before his deadline for trading partners to reach a deal expires. He said on Sunday he would send a first batch of up to 15 letters, warning that US levies on imports would snap back to the high levels he set in April if countries failed to make agreements. And, in a post on his Truth Social network, he threatened a further 10 percent tariff on countries aligning themselves with the emerging BRICS nations, accusing them of 'anti-Americanism' after they slammed his tariffs at a summit in Rio de Janeiro on Sunday. Conceived two decades ago as a forum for fast-growing economies, BRICS has come to be seen as a Chinese-driven counterbalance to US and western European power. However, Beijing defended the grouping on Monday as 'an important platform for cooperation between emerging markets and developing countries.' 'It advocates openness, inclusivity and win-win cooperation,' Mao said. 'It does not engage in camp confrontation and is not targeted at any country,' she said.
