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President Donald Trump's newest round of tariffs on $200 billion worth of Chinese goods is the first time during the US-China trade war that consumer goods will get hit with duties. This could lead to a price increase for the average American shopper.
The Office for National Statistics (ONS) said on Wednesday that consumer price inflation (CPI), the most watched measure of UK inflation, increased to 2.7% in August, up from 2.5% in the previous month.
Wilbur Ross: Americans aren’t ‘going to actually notice’ price increases from Trump’s trade war with China
Commerce Secretary Wilbur Ross said that Americans won't notice price increases from President Donald Trump latest round of tairffs on roughly $200 billion worth of Chinese goods. Many economists disagree.
On Friday, Venezuelan President Nicolas Maduro announced plans to raise the minimum wage and create a single exchange rate pegged to his government's petro-backed cryptocurrency, which would effectively devalue Venezuelan money by 96%.
Chief Executive pay at Britain's largest listed companies grew six times faster than the salary of the wider workforce, as the pay for an average FTSE CEO rose to £3.9 million or around $5 million, The Guardian reported.
The Office for National Statistics released its latest snapshot of price inflation in the UK on Wednesday. Here's how things looked.
The India rupee hit an all-time low Monday, signaling that fears surrounding a crisis in Turkey could spill over into other markets.
The reason Turkey’s economic collapse is so scary is that Iran, Russia, and Syria are waiting in the wings
Turkey's president has warned that if things go badly for his country, he will have to pivot away from the US and seek "new friends" — a coded reference to Iran, Syria, and Russia — Turkey's troublesome neighbors.
Turkey could solve its banking crisis with one simple mechanism — but Erdogan is ideologically against it
Analysts agree that an easy fix would be to raise interest rates by as much as 10%, encouraging investors to put more money in Turkish banks. This is unlikely to happen, given that Turkish President Recep Tayyip Erdogan has called interest rates "evil."
WALL STREET WARNS: Trump’s trade policies could bring the US back to an economic horror from the 1970s
In a broad effort to rearrange global trade relationships, Trump has slapped tariffs on some of America's biggest business partners. And as effects of protectionism kick in, analysts are reminded of the 1970's when rising inflation and stalling growth plagued the economy.