Tag: Economy
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President Donald Trump has announced a steep increase in tariffs on Canadian imports, escalating trade tensions with U.S.’s northern neighbor. In a letter posted to his social media platform, Trump informed Canadian Prime Minister Mark Carney that a 35% tariff would take effect on August 1, up from the current 25%. Trump warned the rate…
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China’s electric vehicle (EV) industry has reached a critical turning point, producing cars that rival or surpass those made in the West, at a fraction of the cost, according to a stark warning from former General Motors executive Michael Dunne. In a recent New York Times op-ed, Dunne paints a sobering picture, that Chinese EVs,…
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The United States will impose a 20 percent tariff on many Vietnamese exports, a lower rate than initially proposed, President Donald Trump announced, easing trade tensions just days before a July 9 deadline to increase tariffs on most imports. Transshipments from third countries through Vietnam, however, will face a 40 percent levy. In return, Vietnam…
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[Ethan Oliver Brooks, Shongjog columnist] In his first speech as the 47th President of the United States, Donald Trump laid out a bold and expansive vision for the nation, one that echoes his commitment to restoring American greatness on the world stage. With a focus on revitalizing the nation’s economy, securing its borders and strengthening…
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Donald Trump has nominated Wall Street financier Scott Bessent to head the U.S. Treasury Department, a key position overseeing tax policy, public debt, international finance and sanctions. The nomination, announced Friday evening, marks the conclusion of one of the most anticipated and drawn-out decisions in Trump’s second-term cabinet selection process. Bessent, 62, a former associate…
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Donald Trump announced on November 16 that Chris Wright, the founder and CEO of oilfield services firm Liberty Energy, will be his choice to lead the U.S. Department of Energy (DOE). Wright, a strong advocate for fossil fuels, is expected to align with Trump’s energy policies, which prioritize maximizing oil and gas production and expanding…
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[Kavi Sampson, Shongjog columnist] In his recent research paper for the Hinrich Foundation, Stewart Paterson examines China’s strategy for securing critical minerals through domestic management and overseas investments, particularly in Southeast Asia. He highlights both the opportunities and challenges this presents for ASEAN countries as they navigate global supply chains and relationships with major powers.…
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[Raghavendra Sharma, Shongjog columnist] The recent agreement between India and China to de-escalate their border dispute along the Line of Actual Control (LAC) in October 2024 is a noteworthy development in the complex tapestry of Asian geopolitics. This cautious détente reflects both countries’ recognition of the urgent need to manage their longstanding tensions, particularly in…
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[Lukas Müller, Shongjog columnist] The prospect of a second Donald Trump administration heralds a tumultuous era for Europe, raising significant concerns about economic protectionism, geopolitical stability, and the ongoing struggle to address climate change. As Trump aims to implement policies that prioritize American interests, Europe must brace itself for a potential unraveling of decades of…
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[Vikram Rajesh, Shongjog columnist] The current state of global trade balances, marked by China’s widening trade surplus and the growing U.S. trade deficit, serves as a crucial touchstone for understanding the dynamics of post-pandemic economic recovery. The interplay between these two superpowers has reignited debates about the causes and consequences of such imbalances, particularly in…
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