By Olivia Le Poidevin GENEVA (Reuters) – Sweeping tariffs on imports imposed by U.S. President Donald Trump and countermeasures could have a “catastrophic” impact on developing countries, hitting even harder than foreign aid cuts, the director of the United Nations trade agency said on Friday. Global trade could shrink by 3-7% and global gross domestic…
WASHINGTON (Reuters) – An American Airlines plane carrying several members of Congress at Reagan Washington National Airport was struck on the taxiway by the wingtip of another American Airlines airplane, the Federal Aviation Administration said Thursday. American Airlines Flight 5490 — a Bombardier CRJ 900 headed to Charleston, South Carolina — struck American Flight 4522…
(Reuters) – U.S. President Donald Trump’s rollback of some of the steep tariffs he has imposed has done little to lower the average import duty rate from the elevated levels to which his wave of levies had driven them, researchers from Yale University said on Thursday. Trump on Wednesday unveiled a 90-day pause on the…
By Patrick Wingrove (Reuters) -Swiss drugmaker Novartis said on Thursday it plans to spend $23 billion to build and expand 10 facilities in the U.S., as it grapples with renewed threats of drug import duties from the Trump administration. Novartis said it plans to build six new manufacturing plants, some of which will make raw…
By Brijesh Patel and Anmol Choubey (Reuters) – Gold prices jumped nearly 3% to an all-time high on Thursday, as a drop in the dollar and an escalating trade war between the U.S. and China drove investors towards the safe-haven allure of the precious metal. Spot gold climbed 2.6% to $3,160.82 an ounce at 01:54…
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(Reuters) -Traders on Wednesday sharply trimmed their earlier bets on a May start to Federal Reserve rate cuts after U.S. President Donald Trump said on Truth Social he was further increasing tariffs on China but pausing for 90 days the big tariff increases he had announced last week for most other countries. Traders now see…
(Reuters) – The World Trade Organization on Wednesday estimated the U.S.- China trade tensions could cut the trade of goods between two economies by as much as 80%. “This tit-for-tat approach between the world’s two largest economies, which together account for roughly 3% of global trade, carries wider implications that could severely damage the global…
(Reuters) -Elon Musk’s xAI has nearly doubled gas turbines at its Tennessee data center, exceeding previously known figures and surpassing the number for which the company has submitted permits, according to a letter from community groups to the county’s health department. The Southern Environmental Law Center and local groups have called on the health department…
By Dan Catchpole SEATTLE (Reuters) – Boeing delivered 41 jets in March, up from 29 during the same month a year ago, the company announced Tuesday, though the figure was slightly lower than the 45 handed over in January and 44 in February. Through the first three months of the year, Boeing delivered 130 jets,…
