BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."
US President Donald Trump warned Sunday that no country would be getting "off the hook" on tariffs despite a 90-day reprieve on some levies, while also downplaying exemptions for Chinese technology.
Donald Trump's trade advisor Peter Navarro on Sunday insisted that "everything's fine with Elon" Musk, after the Tesla chief called him a "moron." Everything's fine with Elon," Navarro told broadcaster NBC on Sunday.
The Central Bank of Nigeria (CBN) has not yet adjusted the Customs FX rate for cargo clearance for the second day, despite the naira's appreciation.
China on Sunday called on the United States to "completely cancel" its reciprocal tariffs after Washington announced exemptions for consumer electronics and key chipmaking equipment. Beijing's commerce ministry on Sunday called the exemptions a "small step" by Washington and said that China was "evaluating the impact" of the decision.
Nigeria continues to borrow to meet its budgetary demands, and now, public debt is at its highest level, with loans from external sources contributing 43 percent.
There always used to be a long line of traffic waiting to cross the steel truss Danube Bridge over the river between Giurgiu in Romania and the Bulgarian city of Rousse on the other side. On weekends, a long line of cars with mostly Romanian registration plates crosses the border bridge towards the Bulgarian commercial hub, bringing with them tourists who boost the local economy.
Indonesia palm oil firms eye new markets as US trade war casts shadow
The crossing may be "a bit choppy", Captain Andrew Simons warns a dozen of his passengers waiting in the French port of Boulogne to cross the Channel with only wind to get them to England. Simons imagined a new mode of cross-Channel transport "offering that experience of the sea to people who are not travelling with a car".
The Trump administration has announced a series of major exemptions to its punishing global tariffs -- an apparent step back in an escalating trade war with China. Washington and Beijing's escalating tariff battle has raised fears of an enduring trade war between the world's two largest economies and sent global markets into a tailspin.
Economy
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