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Lower US tariffs on Japan autos to take effect Tuesday
Lower US tariffs on Japanese autos are set to take effect this week, a Commerce Department notice confirmed Monday, as Washington implements a recent trade pact it had negotiated with Tokyo.
Protesting Peru residents block trains to Machu Picchu
Train services to the Inca citadel of Machu Picchu, Peru's main tourist attraction, was suspended Monday as protesting residents placed logs and rocks on the tracks, police and PeruRail said. Residents are demanding that a new company be chosen to run the buses that ferry visitors from the Aguas Calientes train station at the foot of Machu Picchu, to the site itself.
US Senate poised to advance Trump aide's appointment at Fed
The US Senate is due to vote late Monday on the confirmation of President Donald Trump's choice to join the Federal Reserve's board -- as the clock ticks down to a key policy meeting. Policymakers on the rate-setting Federal Open Market Committee are due to begin their next two-day meeting on Tuesday morning.
US 'very close' to TikTok deal with China: US Treasury chief
The United States is "very close" to a deal with China to settle their dispute over TikTok, US Treasury Secretary Scott Bessent said Monday as the two sides resumed trade talks in Madrid. "On the TikTok deal itself, we're very close to resolving the issue," Bessent told reporters as he arrived at Spain's foreign ministry for a second day of talks.
German defence giant Rheinmetall to take over warship maker
Germany's Rheinmetall has struck a deal to take over a warship builder, both companies said, the defence giant's latest expansion to meet booming demand as European countries rush to rearm. European countries have been racing to build up their militaries since Russia's 2022 invasion of Ukraine.
US-China trade talks resume in Madrid
China and the United States resumed trade talks on Monday in Madrid, seeking to narrow differences on trade and technology that have strained relations between the world's two largest economies. Over the weekend, China launched investigations into the US semiconductor sector, signalling frictions remain high despite the Madrid talks.
Chinese factory, consumer activity slow amid economy struggles
China's economy showed further signs of weakness last month, with key data Monday revealing factory output and consumption rising at their weakest pace for around a year. Industrial production edged up 5.2 percent year-on-year in August, according to data from the National Bureau of Statistics (NBS), the slowest pace since the same month last year.
WTO fishing deal: the net results
The World Trade Organization's agreement on fisheries subsidies -- its first environmentally focused accord -- enters into force on Monday after years of thorny negotiations at a time of heightened international trade tensions.
Asian markets fluctuate ahead of expected US rate cut
Asian markets were mixed Monday as traders geared up for an expected interest rate cut by the Federal Reserve this week. Equities have enjoyed a strong run-up over recent weeks as a string of data on jobs and inflation provided the US central bank with enough leeway to resume its rate reductions.
AFP
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