U.S. consumer spending rose more than expected in August, driven by vacations, dining out, and higher demand for services, keeping the economy on solid ground even as inflation picked up. The Commerce Department reported Friday that household consumption, which makes up over two-thirds of economic activity, climbed by 0.6% after a 0.5% gain in July. …
The U.S. economy expanded at its fastest pace in almost two years during the second quarter of 2025, driven by robust consumer spending, higher business investment, and a sharp narrowing of the trade deficit. Figures released by the Commerce Department’s Bureau of Economic Analysis on Thursday showed gross domestic product (GDP) grew at an annual …
The United States expects to seal trade deals with more Southeast Asian countries in the coming months, U.S. Trade Representative Jamieson Greer said Wednesday during a meeting with regional counterparts in Kuala Lumpur. Greer told economic ministers from the 10-member Association of Southeast Asian Nations (ASEAN) that negotiations on tariff rates are progressing, with some …
China has accelerated purchases of Argentine soybeans, booking about 20 cargoes, or 1.3 million tons, since Buenos Aires scrapped export taxes earlier this week, traders said on Wednesday. The surge makes Argentine beans more competitive and continues to erode U.S. market share, already hit by tariffs from the ongoing U.S.-China trade war. Most of the …
By Esther Ososanya U.S. President Donald Trump has granted Mexico a crucial 90-day reprieve from sweeping new tariffs, offering a temporary lifeline for one of America’s biggest trading partners while ramping up pressure on other countries to strike last-minute deals ahead of a new trade deadline. The extension announced after a Thursday morning call between …
By Esther Ososanya The U.S. Federal Reserve may be forced to delay cutting interest rates until at least October after fresh inflation data revealed that tariff-driven price increases are reigniting consumer costs across multiple sectors, complicating the central bank’s battle to restore price stability. The Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation …
By Rafiyat Sadiq President Donald Trump has announced a 90-day extension to the current trade arrangement with Mexico, delaying the imposition of steep new tariffs. The announcement came on his social media platform, Truth Social, following talks with Mexican President Claudia Sheinbaum. Under the proposed terms, the revised agreement includes a 25% tariff on fentanyl-related …
By Esther Ososanya U.S. President Donald Trump on Wednesday imposed a 25% tariff on all goods imported from India, effective August 1, citing the country’s “unfair trade barriers” and continued defence and energy ties with Russia. The announcement was made via a post on Trump’s Truth Social account, where he also warned of an additional, …
