NAIROBI, KENYA | Xinhua | As the U.S. tariff storm disrupted Africa’s commercial landscape, the continent has responded by actively strengthening regional integration, diversifying markets and enhancing its role in industrial and supply chains. On July 31, U.S. President Donald Trump signed an executive order to further modify tariff rates …
Read More »German auto industry cuts over 51,000 jobs over U.S. tariff, weak demand
BERLIN, German | Xinhua | Germany’s auto industry have cut more than 51,000 jobs over the past year as weak demand, U.S. tariffs and the costly shift to electric vehicles weighed heavily on the sector, according to a report by consultancy EY. Employment in the auto sector fell by nearly …
Read More »Africa seeks economic resilience in face of U.S. tariff hikes
NAIROBI, Kenya | Xinhua | Washington’s new tariffs on nearly 70 countries, including about 20 in Africa, are set to take effect after U.S. President Donald Trump signed an executive order last Thursday. According to a White House release, the duties increase to 15 percent for countries such as Lesotho, …
Read More »Analysts criticize U.S. tariff hikes for undermining global trade order
BEIJING, CHINA | Xinhua | The U.S. modified tariffs with dozens of its trading partners are set to take effect on Thursday, amid widespread concern across the globe that the new rates of levies, ranging from 10 percent to 40 percent, will harm the global trade order. Many political leaders …
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