Page 3 - Global Economy

IMF-World Bank meetings end with little tariff clarity, economic foreboding

Many participants in the IMF and World Bank Spring Meetings had a sense that Trump's administration was still conflicted in its demands from trading partners hit with his sweeping tariffs

Trump's mixed signals on tariffs make fragile global economy nervous

President Donald Trump can't stop contradicting himself on his own tariff plans. He says he's on a path to cut several new trade deals in a few weeks but has also suggested it's physically impossible" to hold all the needed meetings. Trump has said he will simply set new tariff rates negotiated internally within the US government over the next few weeks although he already did that on his April 2 Liberation Day, which caused the world economy to shudder. The Republican president says he's actively negotiating with the Chinese government on tariffs while the Chinese and US Treasury Secretary Scott Bessent have said talks have yet to start. What should one believe? The sure bet is that uncertainty will persist in ways that employers and consumers alike expect to damage the economy and that leave foreign leaders scratching their heads in bewilderment. And the consequences of all this tariffs turmoil are enormous. Trump placed tariffs totalling 145% on China, leading China to reta

Klaus Schwab steps down from World Economic Forum board of trustees

The World Economic Forum on Monday announced that its founder Klaus Schwab has decided to step down as Chairperson and member of its board of trustees with immediate effect. Schwab has been synonymous with the Geneva-based organisation he has headed since it was founded 55 years ago. "Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect," Schwab informed the board. At an extraordinary board meeting on Sunday, the board took note of the resignation of Schwab and unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim. It also established a Search Committee for the selection of a future Chair, the WEF said in a statement. WEF, which describes itself as an international organisation for public-private cooperation, hosts its flagship annual meeting every year in Davos and is attended by top government and business leaders from acros

BOJ likely to keep rate-hike signal intact despite Trump tariff risks

The assessment, to be included in its quarterly outlook report due on May 1, will underscore the BOJ's desire to keep alive market expectations of further interest rate hikes

First shockwaves of Trump's trade tariffs about to hit global economy

International Monetary Fund is set to lower its outlook for economic growth in new projections released on Tuesday

It is not over: Trump's tariff pause does not fundamentally change much

A tariff pause doesn't fundamentally change much

Climate shocks could cause 6% economic loss in Asia-Pacific: UN report

While the Asia-Pacific region contributed 60 per cent of global economic growth in 2024, many of its countries are poorly prepared for climate shocks, according to the report

Oil prices decline 2% as US-China trade conflict fuels recession fears

Brent futures were down $1.17, or 1.78%, to $64.41 per barrel at 1303 GMT, and U.S. West Texas Intermediate crude futures were down $1.17, or 1.89%, at $60.82

RBI may infuse up to Rs 4 trillion to shield economy from global risks

SBM India estimates that up to Rs 2 trillion could be injected in the first half, adding to an unprecedented $80 billion already pumped in since January

'China has been hit much harder': Trump defends tariffs amid market slump

Donald Trump's post follows a major decline in US stock markets the previous day, which heightened concerns about a possible global economic slowdown

They played it wrong, warns Donald Trump on China's reciprocal tariffs

China's countermeasure follows the US' announcement on April 2 of a 34 per cent reciprocal tariff on Chinese goods

US tariffs risk slowing global growth significantly: ADB chief economist

US tariffs impose substantial levies on trading partners, including Southeast Asian nations, with Vietnam, Laos and Cambodia facing some of the highest rates

Trump tariffs shock global economy, drawing threats and calls for talks

United States President Donald Trump's sweeping new tariffs on American imports shocked governments and investors around the world, swiftly spurring both threats of retaliation and calls for negotiation as industries scrambled and global stocks tumbled. China accused the US of bullying and the European Union promised robust countermeasures, with French officials suggesting taxes to hit US tech giants. Yet the United Kingdom and Japan, among others, expressed hope for a deal with Trump and refrained from talk of retaliation against the world's biggest economy, fearing that slapping their own tariffs on American goods would only make things worse. Trump said Wednesday that the import taxes, ranging from 10 per cent to 49 per cent, would reverse unfair treatment by American trading partners and draw factories and jobs back home. Taxpayers have been ripped off for more than 50 years, he said. But it is not going to happen anymore. Trump imposed a 34 per cent levy on goods from China o

Trump's tariffs have unleashed worst of all possible worlds for his voters

Trump, speaking on Air Force One on Thursday afternoon, said he was open to reducing tariffs if trading partners were able to offer something "phenomenal"

Trump's tariff rollout opens new era of uncertainty for global economy

The lack of details so far on the structure, size and targets of the levies have left the world "flying blind" heading into the big announcement day, according to Nomura

Trump's 'Liberation Day' countdown begins, world braces for tariffs impact

Trump has declared April 2 as 'Liberation Day', asserting that the tariffs will liberate the US from its dependence on foreign goods

China's central bank to tweak policy to boost forex market resilience

The remarks, similar to PBOC Governor Pan Gongsheng's comments earlier this month, came after modest economic growth in the first two months of the year, thanks to government policy support

Tariff chaos, policy missteps raise fears over US economic stability

Mr Trump's campaign policy agenda had both pluses and minuses. While there were obvious flaws, much of what he wanted to do would have advanced prosperity

BS Round Table: TN takes 'product nation' route on road to $1 trn economy

Industries minister TRB Rajaa bats for 'Making in Tamil Nadu for world', says state's manufacturing talent pool on a par with Japan

As Donald Trump unleashes a trade war, here is how the world is responding

President Donald Trump's tariffs on China, India, Canada, Mexico, and the European Union have intensified global trade tensions, prompting swift retaliation and raising fears of economic instability