UBS expects global tariffs to rise to maximum values in about 15 years amid escalating trade wars and the absence of an agreement after Brexit, MarketWatch reports. Bank experts believe that the impact of these factors may increase the average world import tariff by about 142 basis points. The cost of goods for which the United States at the end of September introduced 10 percent duty rose from $200 billion to $250 billion. And the return duties of China on goods from the United States increased their value from 60 billion dollars to 110 billion dollars. The administration of President Donald Trump also retained the duties on steel and aluminum from Mexico and Canada, despite the trade agreement reached with these countries. Leaders of the EU and the UK have not yet managed to make progress to sign an agreement on Brexit.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...