Donald Trump has called on the European Union to hit China and India with tariffs of up to 100% to force Russian president Vladimir Putin to end the war in Ukraine. The US president made the demand during a meeting between US and EU officials on Tuesday discussing options to increase economic pressure on […]
Read MoreUS jobs market weakens further in August
The US jobs market weakened further in August, raising new fears about the health of the world’s largest economy. Employers added just 22,000 jobs last month, fewer than expected, while the unemployment rate ticked up from 4.2% to 4.3%, according to the Labor Department. The figures cap a string of shaky data this […]
Read MoreEuropean and US polymers fall, Asian mixed. WTI and Brent Crude static
European polymer prices fell over the week to 5th September. There were reductions of 24 and 30 EUR per tonne reported in the prices of ABS and Polystyrene. In the UK, prices rose across some grades as the Pound lost value against the Euro. Asian polymers were mixed with reductions of between 5 and […]
Read MoreUS tariffs on Japanese cars reduced to 15%
US President, Donald Trump signed an executive order on Thursday that cuts tariffs on Japanese car imports from 27.5% to 15%, easing uncertainty for motor industry giants like Toyota, Honda and Nissan. It formalises an agreement, which was announced in July, to apply a 15% levy to almost all Japanese exports to the US […]
Read MoreBank of England voices concern at Trump threats to US Fed
The Bank of England governor has warned that threats to the US Federal Reserve’s independence are “very serious” and a “very dangerous road to go down” as President Donald Trump continues to target America’s central bank. Andrew Bailey told the Treasury Select Committee: “This is a very serious situation, I am very concerned.” […]
Read MoreTrump appeals to US Supreme Court on legality of tariffs
President Donald Trump has asked the US Supreme Court to overturn a lower court decision that found many of his sweeping tariffs were illegal. In a petition filed late on Wednesday, the administration asked the justices to quickly intervene to rule that the president has the power to impose such import taxes on foreign […]
Read MoreEuropean and US polymers fall, Asian mixed. WTI and Brent Crude static
European polymer prices fell over the week to 29th August. There was a reduction of 10 EUR per tonne reported in the price of Polypropylene. In the UK, prices fell across most grades as the Pound gained value against the Euro. Asian polymers were mixed with reductions of between 5 and 15 USD per […]
Read MoreUK car sales to US rise after tariff deal
Sales of British-made cars to the US rose in July following the introduction of the UK-US tariff deal. The 6.8% rise follows three months in a row of falling sales, according to data from the Society of Motor Manufacturers and Traders (SMMT). In April, US President Donald Trump hiked import taxes on UK […]
Read MoreSmall parcels imports from China to UK hits £3bn
Small parcels shipped from China to the UK that aren’t subject to import taxes more than doubled in value last year, as British businesses complain of unfair competition. These small packages rose in value from £1.3bn in 2023-24 to around £3bn in the latest financial year, exclusive data obtained by the BBC shows. […]
Read MoreUS 50% tariffs on India commence as punishment for Russian trade
US tariffs of 50% on goods from India took effect on Wednesday as Donald Trump sought to punish Delhi for buying Russian oil and weapons. The tariffs include a 25% penalty for transactions with Russia that are a key source of funds for its war in Ukraine. India, a vital strategic US partner […]
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