News

UN Cuts Global Growth Forecast for 2026 to 2.5%
The United Nations (UN) on Tuesday cut its forecast for global economic growth to 2.5% in 2026, compared with an estimated 3.0% in 2025, marking a downgrade of 0.2 percentage points from its January projection and remaining well below pre-pandemic growth rates due to inflationary pressures amid the Middle East conflict. In a U.N. press release summarizing the mid-year update to the global body's World Economic Situation and Prospects, the agency said solid labor markets, resilient consumer demand, and AI-driven trade and investment are expected to provide support, though the downgrade underscores further weakness in the already subdued global outlook. The surge in energy prices has delivered windfall gains for energy companies but intensified cost pressures for households and businesses. The US economy is expected to remain comparatively resilient, with growth projected at 2.0% in 2026, supported by strong household demand and continued investment in technology.
Published on 2026-05-19

UN Cuts Global Growth Forecast for 2026 to 2.5%
The United Nations (UN) on Tuesday cut its forecast for global economic growth to 2.5% in 2026, compared with an estimated 3.0% in 2025, marking a downgrade of 0.2 percentage points from its January projection and remaining well below pre-pandemic growth rates due to inflationary pressures amid the Middle East conflict. In a U.N. press release summarizing the mid-year update to the global body's World Economic Situation and Prospects, the agency said solid labor markets, resilient consumer demand, and AI-driven trade and investment are expected to provide support, though the downgrade underscores further weakness in the already subdued global outlook. The surge in energy prices has delivered windfall gains for energy companies but intensified cost pressures for households and businesses. The US economy is expected to remain comparatively resilient, with growth projected at 2.0% in 2026, supported by strong household demand and continued investment in technology.
Published on 2026-05-19

Trump Threatens 25% Tariffs on EU Cars
U.S. President Donald Trump announced plans to raise tariffs on European Union cars and trucks to 25% this week, up from 15%, citing alleged non-compliance with Washington’s trade deal. In a social media post, Trump said EU-made vehicles would face higher duties unless produced in U.S. plants, adding the move would accelerate European carmakers’ shift to domestic production. He told reporters the measure was intended to pressure manufacturers to localize output. The European Commission swiftly rejected Trump’s claim, insisting Brussels was honoring last summer’s agreement and warning it would defend EU interests if Washington breached the deal. The escalation marks a fresh strain in transatlantic trade ties, raising risks for automakers and fueling uncertainty over the durability of the pact.
Published on 2026-05-03

Trump Threatens 25% Tariffs on EU Cars
U.S. President Donald Trump said on Friday that he would increase tariffs on cars and trucks from the European Union to 25% this week, up from the previously agreed 15%, saying the bloc had not complied with its trade deal with Washington, Reuters reported. "Based on the fact that the European Union is not complying with our fully agreed trade deal, next week I will be increasing tariffs charged to the European Union for cars and trucks coming into the United States," Trump wrote in a social media post. "It is fully understood and agreed that, if they produce cars and trucks in U.S. plants, there will be no tariff." Trump told reporters the higher tariff would force European carmakers to move production to the U.S. more quickly. The European Commission swiftly rejected Trump's claim that Brussels was not complying with last summer's trade deal and said it would keep its options open to protect EU interests if Washington breached the terms of the agreement.
Published on 2026-05-03

Trump Threatens 25% Tariffs on EU Cars
U.S. President Donald Trump said on Friday that he would increase tariffs on cars and trucks from the European Union to 25% this week, up from the previously agreed 15%, saying the bloc had not complied with its trade deal with Washington, Reuters reported. "Based on the fact that the European Union is not complying with our fully agreed trade deal, next week I will be increasing tariffs charged to the European Union for cars and trucks coming into the United States," Trump wrote in a social media post. "It is fully understood and agreed that, if they produce cars and trucks in U.S. plants, there will be no tariff." Trump told reporters the higher tariff would force European carmakers to move production to the U.S. more quickly. The European Commission swiftly rejected Trump's claim that Brussels was not complying with last summer's trade deal and said it would keep its options open to protect EU interests if Washington breached the terms of the agreement.
Published on 2026-05-03

Trump Threatens 25% Tariffs on EU Cars
U.S. President Donald Trump announced plans to raise tariffs on European Union cars and trucks to 25% this week, up from 15%, citing alleged non-compliance with Washington’s trade deal, Reuters reported. In a social media post, Trump said EU-made vehicles would face higher duties unless produced in U.S. plants, adding the move would accelerate European carmakers’ shift to domestic production. He told reporters the measure was intended to pressure manufacturers to localize output. The European Commission swiftly rejected Trump’s claim, insisting Brussels was honoring last summer’s agreement and warning it would defend EU interests if Washington breached the deal. The escalation marks a fresh strain in transatlantic trade ties, raising risks for automakers and fueling uncertainty over the durability of the pact.
Published on 2026-05-03

Trump Warns Iran to Open Strait of Hormuz by Tuesday
President Trump on Sunday issued a renewed ultimatum to Iran, threatening to attack civilian infrastructure inside Iran if it did not open the Strait of Hormuz, a major transit route for a fifth of the world’s oil and gas. Trump made the threat in an expletive-laden social media post on Sunday, in which he repeated previous threats to critical infrastructure across Iran, including bridges and power plants. “Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!” Mr. Trump wrote on social media. “Open the fuckin’ Strait, you crazy bastards, or you’ll be living in Hell — JUST WATCH.” The announcement followed the rescue of an injured airman by U.S. forces after his fighter jet was shot down over the country on Friday. Meanwhile, Iran’s top military commander warned that “the gates of Hell would be opened” if the U.S. and Israel proceeded with attacks against the Islamic Republic’s energy infrastructure.
Published on 2026-04-05

Trump Warns Iran to Open Strait of Hormuz by Tuesday
President Trump on Sunday issued a renewed ultimatum to Iran, threatening to attack civilian infrastructure inside Iran if it did not open the Strait of Hormuz, a major transit route for a fifth of the world’s oil and gas. Trump made the threat in an expletive-laden social media post on Sunday, in which he repeated previous threats to critical infrastructure across Iran, including bridges and power plants. “Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!” Mr. Trump wrote on social media. “Open the fuckin’ Strait, you crazy bastards, or you’ll be living in Hell — JUST WATCH.” The announcement followed the rescue of an injured airman by U.S. forces after his fighter jet was shot down over the country on Friday. Meanwhile, Iran’s top military commander warned that “the gates of Hell would be opened” if the U.S. and Israel proceeded with attacks against the Islamic Republic’s energy infrastructure.
Published on 2026-04-05

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
US President Donald Trump on Thursday ordered 100% tariffs on certain branded pharmaceutical imports but carved out broad exemptions, leaving many companies facing a 0% rate, Reuters reported. The tariffs will not apply universally, with caps at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. Separately, the US and Britain finalized a pact guaranteeing zero tariffs on British-made pharmaceuticals for at least three years as Britain expands US production. Meanwhile, the administration overhauled metals duties: a new proclamation halved tariffs to 25% on many steel, aluminum, and copper derivatives, and eliminated them on products with minimal metal content, while keeping the 50% duty on core commodity imports intact.
Published on 2026-04-02

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
U.S. President Donald Trump ordered 100% tariffs on certain branded pharmaceutical imports but announced extensive exemptions that put the rate for many companies at 0% on Thursday, as Reuters reported. The tariffs will not apply to drug imports from all countries. Branded drug tariffs will be capped at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. The U.S. and Britain also finalized a separate pharmaceutical tariff deal that guarantees zero tariffs on British-made pharmaceuticals for at least three years as Britain builds out production in the U.S. Meanwhile, the government overhauled steel, aluminum, and copper duties. Trump also issued a separate metals tariff proclamation that halved the duty rate to 25% on many derivative products made with steel, aluminum, and copper, and dropped them altogether on products with minimal metal content. The move kept in place the 50% duty on commodity imports of steel, aluminum, and copper.
Published on 2026-04-02

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
U.S. President Donald Trump ordered 100% tariffs on certain branded pharmaceutical imports but announced extensive exemptions that put the rate for many companies at 0% on Thursday, as Reuters reported. The tariffs will not apply to drug imports from all countries. Branded drug tariffs will be capped at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. The U.S. and Britain also finalized a separate pharmaceutical tariff deal that guarantees zero tariffs on British-made pharmaceuticals for at least three years as Britain builds out production in the U.S. Meanwhile, the government overhauled steel, aluminum, and copper duties. Trump also issued a separate metals tariff proclamation that halved the duty rate to 25% on many derivative products made with steel, aluminum, and copper, and dropped them altogether on products with minimal metal content. The move kept in place the 50% duty on commodity imports of steel, aluminum, and copper.
Published on 2026-04-02

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
U.S. President Donald Trump on Thursday ordered 100% tariffs on certain branded pharmaceutical imports but carved out broad exemptions, leaving many companies facing a 0% rate, Reuters reported. The tariffs will not apply universally, with caps at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. Separately, the U.S. and Britain finalized a pact guaranteeing zero tariffs on British-made pharmaceuticals for at least three years as Britain expands U.S. production. Meanwhile, the administration overhauled metals duties: a new proclamation halved tariffs to 25% on many steel, aluminum, and copper derivatives, and eliminated them on products with minimal metal content, while keeping the 50% duty on core commodity imports intact.
Published on 2026-04-02

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
US President Donald Trump on Thursday ordered 100% tariffs on certain branded pharmaceutical imports but carved out broad exemptions, leaving many companies facing a 0% rate, Reuters reported. The tariffs will not apply universally, with caps at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. Separately, the US and Britain finalized a pact guaranteeing zero tariffs on British-made pharmaceuticals for at least three years as Britain expands US production. Meanwhile, the administration overhauled metals duties: a new proclamation halved tariffs to 25% on many steel, aluminum, and copper derivatives, and eliminated them on products with minimal metal content, while keeping the 50% duty on core commodity imports intact.
Published on 2026-04-02

Trump Unveils Up to 100% Tariff on Some Pharmaceuticals, Adjusts Metals
US President Donald Trump on Thursday ordered 100% tariffs on certain branded pharmaceutical imports but carved out broad exemptions, leaving many companies facing a 0% rate, Reuters reported. The tariffs will not apply universally, with caps at 15% under trade deals with the EU, Japan, South Korea, and Switzerland. Separately, the US and Britain finalized a pact guaranteeing zero tariffs on British-made pharmaceuticals for at least three years as Britain expands US production. Meanwhile, the administration overhauled metals duties: a new proclamation halved tariffs to 25% on many steel, aluminum, and copper derivatives, and eliminated them on products with minimal metal content, while keeping the 50% duty on core commodity imports intact.
Published on 2026-04-02

U.S. May Tap Foreign Ships to Ease Energy Crunch
The Trump administration is weighing a temporary waiver of the Jones Act, the century-old law requiring U.S.-flagged ships to carry goods between domestic ports, as part of efforts to ease surging oil and gasoline prices. Bloomberg News said a 30-day exemption would permit foreign vessels to transport energy and agricultural cargo, including crude, gasoline, diesel, LNG, and fertilizer, between U.S. ports. The move could allow cheaper international tankers to ship Gulf Coast crude to East Coast refineries and deliver fuel to densely populated regions. White House Press Secretary Karoline Leavitt said the proposal is under review “in the interest of national defence” to ensure supplies flow freely, though no final decision has been made.
Published on 2026-03-12

U.S. May Tap Foreign Ships to Ease Energy Crunch
The Trump administration is weighing a temporary waiver of the Jones Act, the century-old law requiring U.S.-flagged ships to carry goods between domestic ports, as part of efforts to ease surging oil and gasoline prices. Bloomberg News said a 30-day exemption would permit foreign vessels to transport energy and agricultural cargo—including crude, gasoline, diesel, LNG, and fertilizer—between U.S. ports. The move could allow cheaper international tankers to ship Gulf Coast crude to East Coast refineries and deliver fuel to densely populated regions. White House Press Secretary Karoline Leavitt said the proposal is under review “in the interest of national defence” to ensure supplies flow freely, though no final decision has been made.
Published on 2026-03-12

Trump Team Considers Steps to Ease Oil Price Spike
The Trump administration is weighing measures to counter surging oil and gasoline prices amid the war in Iran, Interior Secretary Doug Burgum said Thursday, noting that “everything is being considered,” from immediate steps to longer-term actions. Trump met with Burgum and senior advisers before announcing plans to provide insurance guarantees and naval escorts for vessels transiting the Strait of Hormuz, a vital route for global oil shipments. The move seeks to safeguard tanker traffic as regional tensions threaten supply flows. Officials are also reviewing a possible release of crude from the Strategic Petroleum Reserve, potentially in coordination with other countries to amplify market impact, though no decision has been made.
Published on 2026-03-05

White House Calls 25% Semiconductor Tariffs “Phase One” Action
The US Commerce Department’s 25% national security tariff on certain high-end semiconductors, announced on Wednesday, is a “phase one” action to protect the sector and could be followed by other announcements pending negotiations with other countries and companies, a White House official said on Thursday, as Reuters reported. The official, speaking on condition of anonymity, said President Donald Trump has previously threatened a 100% tariff on chips not made in the US as he seeks to build up domestic semiconductor manufacturing. Previously, Trump on Wednesday imposed a 25% tariff on certain AI chips, under a new national security order released by the White House. The Trade Expansion Act of 1962 targets many high-end semiconductors meeting specific performance benchmarks, as well as devices containing them, for import duties. The action is part of a broader effort to create incentives for chipmakers to produce more semiconductors in the US.
Published on 2026-01-16

White House Calls 25% Semiconductor Tariffs “Phase One” Action
The US Commerce Department’s 25% national security tariff on certain high-end semiconductors, announced on Wednesday, is a “phase one” action to protect the sector and could be followed by other announcements pending negotiations with other countries and companies, a White House official said on Thursday, as Reuters reported. The official, speaking on condition of anonymity, said President Donald Trump has previously threatened a 100% tariff on chips not made in the US as he seeks to build up domestic semiconductor manufacturing. Previously, Trump on Wednesday imposed a 25% tariff on certain AI chips, under a new national security order released by the White House. The Trade Expansion Act of 1962 targets many high-end semiconductors meeting specific performance benchmarks, as well as devices containing them, for import duties. The action is part of a broader effort to create incentives for chipmakers to produce more semiconductors in the US.
Published on 2026-01-16

Trump Imposes 25% Tariff on Imports of Some AI Chips
US President Donald Trump on Wednesday imposed a 25% tariff on certain AI chips, such as Nvidia’s H200 AI processor and a similar semiconductor from AMD, the MI325X, under a new national security order released by the White House, as Reuters reported. The proclamation follows a nine-month investigation under Section 232 of the Trade Expansion Act of 1962 and targets many of the high-end semiconductors meeting specific performance benchmarks, as well as devices containing them, for import duties. The action is part of a broader effort to create incentives for chipmakers to produce more semiconductors in the US and reduce reliance on manufacturers in places like Taiwan. “The United States currently fully manufactures only approximately 10 percent of the chips it requires, making it heavily reliant on foreign supply chains,” the proclamation said, adding that this reliance poses a “significant economic and national security risk.”
Published on 2026-01-15