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China condemns US 'tariff shocks' at WTO
China condemns US 'tariff shocks' at WTO
by  AFP

The sweeping tariffs threatened or already imposed by US President Donald Trump risk triggering inflation, market distortions, and even a global recession, China said Tuesday at the World Trade Organization. "These tariff shocks heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession."

US lawmakers due to confirm Howard Lutnick as commerce secretary
US lawmakers due to confirm Howard Lutnick as commerce secretary
by  AFP

The US Senate is expected to confirm Wall Street billionaire Howard Lutnick as commerce secretary Tuesday, a key step towards the rollout of President Donald Trump's "America First" trade policy with tariffs used as a broad negotiation tool. Already, the commerce secretary has a broad agenda to implement and negotiations with some of the United States' biggest trading partners to contend with.

German auto supplier Continental to cut 3,000 more jobs
German auto supplier Continental to cut 3,000 more jobs
by  AFP

German auto supplier Continental said Tuesday it will cut a further 3,000 jobs by the end of 2026, the latest sign of weakness for the country's auto sector. Sports car maker Porsche announced 1,900 layoffs last week, citing weak demand for its electric cars, and Volkswagen last December reached an agreement with unions to cut 35,000 jobs across its German locations by 2030.

After Trump tariffs, EU must urgently revamp economy: Draghi
After Trump tariffs, EU must urgently revamp economy: Draghi
by  AFP

Radically changing the European economy is more urgent than ever after US threats of a trade war with the EU, the author of a seminal report, Mario Draghi, warned Tuesday. "The sense of urgency to undertake the radical change that the report advocated has become even greater," Draghi told the European Parliament.