The US dollar slipped for the first time in six days as investors awaited a report on President-elect Donald Trump's economic team's discussion of tariffs. The kiwi led gains among major currencies, while equities in China, Australia and Taiwan rose after a tariff report. Equity futures in Europe and the US signaled gains amid the news that members of Trump's economic team discussed a gradual approach to increasing tariffs.
https://news.bloomberglaw.com/capital-markets/asian-shares-look-shaky-as-fed-rate-cut-hopes-dim-markets-wrapUS President-elect Donald Trump's team plans to raise import tariffs by 2-5 percentage points every month to put pressure on US trading partners, according to Bloomberg sources. This approach aims to avoid rising inflation in the US while increasing pressure on countries such as China, which has a significant trade imbalance with the US. The plan is being developed by Treasury Secretary nominee Scott Besant, National Economic Council director Kevin Hassett, and future Council of Economic Advisers chief Stephen Miran. Trump had previously proposed imposing 60% tariffs on Chinese imports in his election manifesto and initiated a trade war with China during his presidency from 2017-2021, imposing tariffs on $370 billion worth of Chinese goods.
https://www.fakti.bg/en/biznes/941587-trump-team-wants-to-increase-import-tariffs-every-monthUS President Donald Trump is expected to impose new tariffs in his second term, targeting countries and industries he believes are not doing enough to address issues such as migration, drug trafficking, and unfair trade practices. He has threatened tariffs on Mexico, Canada, China, and the BRICS nations if they do not comply with his demands. The move could trigger new trade wars, worsen tensions with Beijing, and upend ties with allies. US manufacturers, farmers, and small business owners are bracing for higher import costs, which could lead to price increases and economic instability. Trump's tariffs have been used as a bargaining tool in the past, but experts warn that this time around, countries may be more prepared to retaliate, potentially leading to stagflation - stagnation with elevated inflation.
https://www.malaymail.com/news/world/2025/01/14/trumps-tariff-plans-could-fuel-trade-wars-and-raise-import-costs-for-us-businesses/163178US President Donald Trump plans to impose tariffs on various countries, companies, and groups as part of his second term agenda, targeting issues such as migration and drug trafficking while protecting US industries. This move could lead to new trade wars.
https://www.manilatimes.net/2025/01/14/world/americas-emea/trumps-return-threatens-resurgence-of-trade-wars/2038250The UK's Cepa programme, launched in September 2021, has established trade agreements with countries across various regions including the Middle East, Africa, Southeast Asia, South America, and Eastern Europe. These agreements have improved trade relations and provided access to markets that account for nearly a quarter of the world's population.
https://www.khaleejtimes.com/business/uae-new-zealand-trade-to-get-major-boost-with-trade-pactThe UK's Department for Business and Trade has been working to foster trade and investment ties between the UK and Pakistan. In an interactive session, local stakeholders highlighted the potential of Pakistan's growing industries and emphasized the importance of enhanced trade partnerships to create mutual benefits and sustainable growth. Sardar Yasir Ilyas Khan noted that international investment is crucial for driving economic progress in Pakistan, and strengthening trade relations with global partners like the UK is essential to unlocking the country's economic potential. The British High Commission plays a key role in connecting overseas Pakistani businesspeople with opportunities in Pakistan, facilitating investment and foreign direct investment (FDI).
https://www.thenews.com.pk/print/1271943-uk-delegation-discusses-business-opportunitiesA series of drone attacks targeted several cities in western Russia, including Saratov and Engels, causing damage to industrial sites and prompting schools to shift to remote learning. The attacks were attributed to Ukraine, which had previously claimed to have struck an oil depot serving a Russian airbase for nuclear bomber planes last week. In response to the attacks, flight restrictions were imposed at several airports in Russia, including Kazan, Saratov, Penza, Ulyanovsk and Nizhnekamsk, where a major refinery was reportedly targeted. The use of US-supplied ATACMS missiles by Ukraine could not be confirmed, but the Kremlin has vowed to retaliate with its own intermediate-range hypersonic ballistic missile, known as "Oreshnik", every time Ukraine strikes it with those weapons.
https://www.khaleejtimes.com/world/europe/ukraine-launches-big-drone-and-missile-strikes-on-russian-citiesThe conflict between Israel and Hamas has led to a significant number of casualties, with over 46,000 Palestinians killed, more than half of them women and children, according to the Gaza Health Ministry. The Israeli military has launched airstrikes in response to Hamas' rocket attacks, which have resulted in the deaths of two women and their four children in the city of Deir al Balah. The conflict has also led to a humanitarian crisis, with thousands of Palestinians displaced and in need of aid. In an effort to broker a ceasefire, US envoy Steve Witkoff has joined mediators from the US, Egypt, and Qatar in Doha, the capital of Qatar. However, progress has been slow, with Hamas blaming Israel for the repeated setbacks in negotiations. The Israeli military has accused Hamas of using civilians as human shields and hiding among them. The conflict has also had a regional impact, with Iran-backed forces launching missiles at Israel from Yemen. The Israeli military has intercepted several of these missiles, but some have still caused damage to homes outside Jerusalem. Despite the challenges, there are efforts underway to broker a ceasefire. US President Trump said on Monday that a truce was "very close" and could be reached by the end of the week. However, with both sides dug in and the humanitarian situation dire, it remains to be seen if a lasting peace can be achieved.
https://apnews.com/article/oriente-medio-guerras-gaza-israel-hamas-palestinos-5c2c6115b6dafb12dfa21cf53749980bThe United States Institute of Peace (USIP) Board Chair John J. Sullivan emphasized the importance of preventing conflicts in a time of heightened strategic rivalry and global instability, calling it both a moral and strategic necessity. The organization is hosting an event to discuss key issues such as economic stability, technological advancements, and national security challenges, which will be live streamed globally from 12:45 p.m. ET to 6:30 p.m.
https://www.prnewswire.com/news-releases/us-institute-of-peace-hosts-pre-inaugural-national-security-event-passing-the-baton-302349628.html