Tariff

The Taoiseach has expressed significant concern over the potential consequences of US President Donald Trump's threat to impose 50% tariffs on the EU starting in June, stating that such a move would be "very damaging." Following Mr. Trump's announcement, European stocks experienced a sharp decline, and the euro saw a drop in value. Additionally, eurozone government bond yields fell considerably, indicating a ripple effect across global markets. On his Truth Social platform, Mr. Trump remarked, "The European Union, which…

Beijing is currently "evaluating" an offer from Washington regarding talks over the substantial 145% tariffs imposed by US President Donald Trump. The Commerce Ministry of China has cautioned the United States against engaging in "extortion and coercion," highlighting the complexities of negotiation. Both Washington and Beijing seem entangled in a high-stakes game over tariffs, with neither side willing to appear submissive or be the first to initiate discussions amid a trade war that has unsettled global markets and…

MTN Nigeria's Robust Q1 2025 Performance In an impressive display of resilience and strategic maneuvering, MTN Nigeria reported a staggering revenue of N1 trillion for the first quarter of 2025. This achievement signifies a remarkable 40.5% increase year-on-year, a substantial leap from the N752.9 billion recorded in Q1 2024. One can't help but wonder: What does this surge mean for the broader telecommunications landscape in Nigeria? The driving force behind this robust performance can primarily…

Market Analysis: The Dynamic of Gold and Precious Metals The US dollar index experienced a modest increase of 0.1% against a basket of major currencies. For investors holding foreign currencies, this shift translates into an uptick in gold prices, making it relatively more expensive. Consequently, this movement imposes significant downward pressure on bullion prices, stirring conversations among market analysts and traders alike. “There was a minor recovery in broad dollar strength, which led to a little bit…

China is unlikely to engage with the United States as long as the latter continues its "tariff numbers game," a sentiment echoed by China’s foreign ministry following the White House's announcement of potential tariffs reaching up to 245% due to China's retaliatory actions. In a recent factsheet, the White House outlined a breakdown of China's tariffs, which comprise a new reciprocal tariff of 125%, a 20% tariff aimed at tackling the fentanyl crisis, and tariffs varying from 7.5% to 100% on selected goods to counteract what…

In an encouraging development, former President Donald Trump and Italian Prime Minister Giorgia Meloni expressed optimism about a potential agreement on US-EU tariffs during Meloni's recent visit to the White House. Emphasizing her role as a key figure in fostering transatlantic relations, Meloni positioned herself as the only European leader capable of alleviating the trade tensions instigated by Trump's policies. Her bold assertion, "My mission is to make the West great again," resonated throughout their discussions.…

Nigeria Fully Gazettes AfCFTA Commitments: A Pathway to Enhanced African Trade It was a seemingly understated announcement on a social platform, but behind those succinct words lay transformational implications for Africa’s largest economy. Recently, the African Continental Free Trade Area (AfCFTA) Secretariat proudly announced via its official X (formerly Twitter) page: "Congratulations Nigeria! Thank you for bringing the AfCFTA trade agreement to life." This brief message symbolizes a pivotal moment in Nigeria’s trade…

In the ever-fluctuating world of finance, where numbers and news often dictate our next moves, staying updated becomes more than just a routine; it’s a necessity. As the clock pushed past 10:27 p.m. ET on a Sunday evening, US stock futures were holding their breath, anticipating the week ahead. Let’s wind the clock back to Friday. It was a day of revelations, especially concerning the intricate dance between the United States and China over import tariffs. The US Customs and Border…

In a significant development, European finance ministers have reached a consensus on the necessity for a "unified stance" regarding US trade tariffs. This important dialogue took place during a recent assembly of both Eurozone and non-Eurozone members in Warsaw. Paschal Donohoe, the Minister for Finance and President of the Eurogroup, emphasized the importance of collective action, stating, "We recognize the need for a unified stance and approach in response to the change that is under way." This remark underscores the…

Ivory Coast and Cocoa Prices Amidst U.S. Tariff Proposals Imagine walking through the bustling streets of Abidjan, where the air is rich with the earthy aroma of cocoa—a scent that hints at its significance to the nation. Ivory Coast, often acclaimed as the world's largest cocoa producer, stands at a crossroads. Recent geopolitical developments have added layers of complexity to an already intricate web of international trade. The present situation stirs up a notable question: What…