President Donald Trump said Monday he would be placing a 25 per cent tariff on all imports from any country that buys oil or gas from Venezuela as well as imposing new tariffs on the South American country itself.
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The Bank of England is set to keep UK interest rates unchanged Thursday even though the economy is barely growing and set for further uncertainty in light of the tariff policies being enacted by the Trump administration in the US.
The stronger export growth yielded a trade surplus last month after two straight months of deficits, the Finance Ministry said Wednesday.
The Chinese economy showed signs of improvement in the first two months of the year, though housing market weakness remained a drag on growth, government data showed Monday.
The British economy unexpectedly shrank during January, piling pressure on Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month.
Asian shares were mostly lower on Thursday despite a rebound on Wall Street fuelled by an encouraging update on US consumer prices.
Asian shares were mixed on Wednesday as investors weighed the impact of President Donald Trump's tariffs after another day of losses on Wall Street.
The S&P 500 was sitting at the edge of what Wall Street calls a “correction," where it falls 10%, and was sitting within 0.1 percentage points of the mark.
Trump removed all exemptions from his 2018 tariffs on the metals, in addition to increasing the tariffs on aluminum from 10%.
Japan's has cut its estimate for its economic growth in the last quarter of the year to a 2.2 per cent annual pace from 2.8 per cent as consumer spending hit demand.
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