AFP
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US tariffs corrode steelmaker ArcelorMittal's profitability
The world's number two steelmaker, ArcelorMittal, said on Thursday its half-year net profit jumped on exceptional items but US tariffs began to eat into its margin. Net profit for the period from January through June rose 39 percent from the same period in 2024 to hit $2.6 billion, thanks to a $1.7 billion exceptional gain from acquiring a stake in a US unit ceded by Nippon Steel.
BMW profits slump on China woes, US tariffs
BMW said Thursday its profits slumped by a third in the second quarter as the German premium carmaker was hit hard by falling sales in key market China and US tariffs. Revenues slipped eight percent to 34 billion euros as sales fell 14 percent in China, where German carmakers are facing fierce competition from local rivals particularly when it comes to electric vehicles.
Firms in Vietnam walk tightrope as Trump's transshipping rule looms
As Donald Trump's eye-watering tariffs on Chinese products passing through Vietnam are set to kick in Friday, companies in the Southeast Asian country are cautiously waiting to see what falls into that category.
Trump gets his way on tariffs, but global trade system intact for now
President Donald Trump has succeeded in strong-arming nations to accept higher tariffs on US exports, yet for now experts see little threat to the postwar trend of lower duties in the pursuit of greater wealth all around.
Laos braced for blow of Trump tariff threat
Hawking clothes outside the garment factory where her daughter toils inside, a Laos vendor weighs US President Donald Trump's threat of trade tariffs that may soon snarl both their livelihoods. But with the Southeast Asian country already suffering from high inflation and a severe labour shortage, Trump's default tariff could still have a devastating effect, industry insiders say.
Most markets down as Fed holds and Trump announces fresh tariffs
Asian markets mostly fell Thursday while the dollar held most of its gains as traders weighed a cautious Federal Reserve with strong tech earnings and Donald Trump's tariffs on key economies South Korea and India. Traders had been given a healthy lead from the tech sector after titans Microsoft and Meta posted better-than-expected earnings, sending their stocks soaring in after-market trade.
China manufacturing sinks again in July as US trade talks stall
China's factory output shrank more than expected in July, official data showed on Thursday, logging its fourth straight month of contraction as Beijing battles to hammer out a trade deal with the United States. China's bruising trade war with the United States -- now on hold pending a deal -- has hit the export-dependent economy.
Clock ticks on US tariff hikes as Trump broadens blitz
Time is running short for governments to strike deals with Washington to avert tariff hikes that Donald Trump has vowed against dozens of economies -- and the US president continues to expand his trade wars. This rate was set to rise to varying levels for dozens of economies like the European Union, Japan and others, but Washington twice postponed their implementation as financial markets gyrated.
Trump says US to impose 15% tariff on South Korean goods
President Donald Trump said Wednesday that the United States will impose a 15 percent tariff on imports from South Korea, as he touted a "full and complete trade deal" between both countries. In contrast with the 15 percent tariff for South Korea, Trump on Wednesday also placed 25 percent tariffs on imports from India and 50 percent on those from Brazil.
AFP
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