Economy

Economy Latest News

BRICS members blast rise of 'trade protectionism'
BRICS members blast rise of 'trade protectionism'
by  AFP

China, Brazil and other members of the BRICS grouping on Tuesday slammed the "resurgence of trade protectionism" at a meeting in Rio de Janeiro dominated by US President Donald Trump's tariffs blitz. Some BRICS members have, however, escaped the worst of Trump's trade ire.

France to tax small parcels from China amid tariff fallout fears
France to tax small parcels from China amid tariff fallout fears
by  AFP

France will from next year impose a handling tax for every small parcel sent from China sent by platforms such as Shein and Temu, a minister said Tuesday. French officials say that unless a European system is set up, parcels taxed by France will just enter the EU through another member country.

Trump signals relief on auto tariffs as industry awaits details
Trump signals relief on auto tariffs as industry awaits details
by  AFP

The White House said Tuesday it will soften tariffs on automakers, sparking optimism in Detroit whose car manufacturing industry has been on tenterhooks awaiting details on President Donald Trump's fast-evolving policy. "The president will sign the executive order on auto tariffs later today," White House Press Secretary Karoline Leavitt told reporters.

US consumer confidence hits lowest level since onset of pandemic
US consumer confidence hits lowest level since onset of pandemic
by  AFP

US consumer confidence has fallen to its lowest level since the onset of the Covid-19 pandemic, according to survey data published Tuesday, reflecting concerns about President Donald Trump's tariff plans. Donald Trump's tariff plans have unnerved investors, sending market volatility soaring and consumer confidence plunging.

W. House slams Amazon over 'hostile' plan to display tariff effect on prices
W. House slams Amazon over 'hostile' plan to display tariff effect on prices
by  AFP

The White House on Tuesday slammed Amazon over reports it would soon tell consumers how much US President Donald Trump's tariffs have contributed to the price tag on its goods. Earlier Tuesday, Punchbowl News reported that the e-commerce site will soon start showing "how much Trump's tariffs are adding to the price of each product," citing a person familiar with the matter.

Spain starts probing causes of massive blackout
Spain starts probing causes of massive blackout
by  AFP

Spain on Tuesday began to investigate the causes of the crippling blackout that disrupted millions of lives across the Iberian Peninsula, with a court probing potential "sabotage" of critical infrastructure.

France targets cheap Chinese goods with fee on packages
France targets cheap Chinese goods with fee on packages
by  AFP

France wants to start charging non-EU online sellers a handling fee for each low-value package shipped to domestic customers, government ministers said Tuesday as the country copes with an influx of cheap goods from China. Some 800 million such packages were shipped to France alone last year.