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Taxes on super rich and tech giants stall under Trump
Global tax plans targeting billionaires and multinational companies are running aground, with the United States torpedoing reforms under President Donald Trump. The billionaire real estate tycoon has pulled the United States out of an international deal on taxing multinationals and threatened tariffs on countries that target US tech giants.
Tariffs could lift Boeing and Airbus plane prices even higher
Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are poised to climb further as Boeing and Airbus are buffeted by trade tariffs. To resolve a labor strike, Boeing late last year agreed to a new contract with its Seattle-based machinist union that lifted wages by 38 percent over four years.
Ford 'adjusts' some exports to China due to tariffs
Citing the US-China trade conflict, Ford said Friday it has "adjusted" its exports to the country, where the US auto giant operates manufacturing jointly with local partners. "We have adjusted exports from the US to China in light of the current tariffs," Ford told AFP without specifying the models affected.
Trump goes to war with the Fed
Donald Trump's simmering discontent with the US Federal Reserve boiled over this week, with the president threatening to take the unprecedented step of ousting the head of the fiercely independent central bank. Powell has said he has no plans to step down early, adding this week that he considers the bank's independence over monetary policy to be a "matter of law."
China's manufacturing backbone feels Trump trade war pinch
Sky-high tariffs imposed on China by US President Donald Trump have triggered a slump in factory orders, manufacturers told AFP this week -- with some fearing business may never return. "It's a new round in the trade war," Andy Lin, the firm's business development manager, told AFP at one of its factories in nearby Zhongshan.
Cash crunch leaves Syrians queueing for hours to collect salaries
Seated on the pavement outside a bank in central Damascus, Abu Fares's face is worn with exhaustion as he waits to collect a small portion of his pension. "There are a lot of ATMs in Damascus, but very few of them work," she said.
Asian markets mixed as traders track tariff talks
Asian markets were mixed in holiday-thinned trade Friday as investors keep tabs on countries' tariff talks with the White House, while Donald Trump's remarks that he was reluctant to hike levies on Beijing even more provided a little support.
Japan rice prices soar as core inflation accelerates
Rice prices in Japan last month were almost twice what they were a year earlier, official data showed Friday, as core inflation accelerated in the world's number four economy. The data is likely to strengthen expectations that the Bank of Japan will hike interest rates, with inflation above the BoJ's target of two percent for almost three years.
US unveils new port fees for Chinese-linked ships
The United States unveiled new port fees on Chinese built and operated ships Thursday, in a bid to boost the domestic shipbuilding industry and curb China's dominance in the sector. There will be separate fees for Chinese operated ships and Chinese built ships, and both will gradually increase over subsequent years.
AFP
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