On 7 August, new U.S. tariffs took effect on goods arriving in the U.S. from more than 90 countries. U.S. businesses and consumers now pay an average tariff rate of about 18 percent, economists have calculated, the highest rate in 90 years and eightfold more than the 2.3 percent when Donald Trump took office.
Beijing’s efforts to rein in the bloody price war that has battered the country’s automakers in recent months showed some effect last month.
Cybersecurity specialist Palo Alto Networks will buy CyberArk Software, an Israeli counterpart, for about $25 billion as Palo Alto CEO Nikesh Arora seeks to scale his company in tandem with AI’s spread through business, government, and military operations.
On 31 July, Donald Trump took the next step in his global trade war, announcing major revisions to the tariff rates he bannered on his 2 April “Liberation Day” event.
The surging popularity of dollar-backed stablecoins could cost the European Central Bank (ECB) its control of monetary policy, according to a study by Jurgen Schaaf, an analyst in the bank’s market infrastructure and payments office.
China’s officials regulating artificial intelligence (AI) met with executives from Nvidia, the California-based maker of the world’s most powerful AI chips, and charged that its H20 chips designed for Chinese customers threaten the country’s national security.
China’s manufacturing output contracted more than expected last month, according to the country’s official Manufacturing Purchasing Managers Index (PMI).
The committee representing the staff of the European Central Bank (ECB) has sent a letter to ECB president Christine Lagarde criticizing her leadership of the institution.
Chinese exports once destined for the U.S. might well be rerouted to Europe, which has not put up stiff tariffs as the U.S. has done to discourage the shipments.
In March, Germany amended its constitutionally mandated government borrowing cap, allowing chancellor Friedrich Merz to push his trillion-euro spending plan through parliament.