South African factory workers protested against the dismissal of foreign employees, arguing that their skills are vital for protecting local jobs.
South African factory workers protested against the dismissal of foreign employees, arguing that their skills are vital for protecting local jobs.
Germany's plant and equipment makers' federation warned Wednesday the sector is facing an "existential crisis" after the United States broadened the reach of its metals tariffs. "The harm caused by them, along with the prospect of still more in the months to come, are sending key machinery sectors hurtling toward the precipice of an existential crisis," wrote the group's president Bertram Kawlath.
US tariffs of 50 percent took effect Wednesday on many Indian products, doubling an existing duty as President Donald Trump sought to punish New Delhi for buying Russian oil. While Trump has slapped fresh duties on allies and competitors alike since returning to the presidency in January, this 50-percent level is among the highest that US trading partners face.
Asian markets diverged Wednesday morning following broad losses the previous day, as attention turns from political pressure on the US central bank to a key earnings report by AI giant Nvidia. California-based AI chip giant Nvidia will report second-quarter financial results on Wednesday evening, closely watched as a bellwether for the industry as worries about a tech bubble rise.
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