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Could copper tariff hurt US more than Chile?
Could copper tariff hurt US more than Chile?
Economy
by  AFP

Chile, the world's biggest copper producer, is hoping for a last-minute deal to stop the United States from imposing a 50-percent import tariff on the red metal. - Impact on the US - The United States imports about 45 percent of the copper it needs for industrial use, according to the US Geological Survey, a government agency.

Stablecoins inspire hope, and hype, in Hong Kong
Stablecoins inspire hope, and hype, in Hong Kong
Economy
by  AFP

Stablecoin excitement has gripped Hong Kong as the city prepares to launch a licensing system for the less volatile type of cryptocurrency, but authorities warn against overplaying its future role in financial systems. "Some discussion on stablecoins may be overly idealistic," Yue warned, especially around their "potential to disrupt the mainstream financial system".

Markets mixed as China-US talks end, eyes on tech earnings
Markets mixed as China-US talks end, eyes on tech earnings
Economy
by  AFP

Asian markets were mixed Wednesday as investors kept tabs on China-US developments after they agreed to further talks to extend their trade truce, while eyes were also on tech earnings and a key Federal Reserve meeting. Major earnings releases from tech titans Meta and Microsoft are due Wednesday, with Amazon and Apple coming Thursday.

US Fed set to hold firm against Trump pressure
US Fed set to hold firm against Trump pressure
Economy
by  AFP

The US central bank is expected to defy political pressure and keep interest rates unchanged Wednesday at the end of a two-day policy meeting, as the effects of President Donald Trump's tariffs emerge. Analysts broadly expect the Fed to hold interest rates steady at a range between 4.25 percent and 4.50 percent.

Five products to be hit by Trump's incoming tariffs
Five products to be hit by Trump's incoming tariffs
Economy
by  AFP

The United States is set to raise tariffs on dozens of trading partners Friday if they fail to reach accords with President Donald Trump to avert the higher rates, and this risks raising prices for consumers. In a letter to Brazil's leadership, Trump cited a judical "witch hunt" against his right-wing ally, ex-president Jair Bolsonaro, in unveiling the rate.

US second quarter GDP growth to reflect tariff turbulence
US second quarter GDP growth to reflect tariff turbulence
Economy
by  AFP

US economic growth is expected to rebound in the second quarter, analysts said, in a momentary comeback reflecting trade shifts as companies tried to avoid the harshest of President Donald Trump's wide-ranging tariffs. Analysts have noted that companies tend to hold off major decisions during times of uncertainty, given the risk of sudden policy shifts.