Domestic Affairs
Introduction On the eve of pivotal trade negotiations with the United States, China has announced a sweeping crackdown on the smuggling of rare earths and other critical minerals, signaling its intent to tighten enforcement of export controls on strategic resources. This move, orchestrated by a coalition of powerful ministries-including commerce,
Domestic Affairs
Introduction The United States and United Kingdom have announced a new, limited trade agreement-the first such deal since President Trump’s administration suspended initial tariffs last month. This arrangement, while offering targeted relief to select industries and providing a framework for future negotiations, stops short of a comprehensive free trade
Economy
Domestic Affairs
Introduction In March 2025, the U.S. trade deficit surged to an unprecedented $140.5 billion, a 14% increase from the previous month and the largest monthly gap ever recorded. This dramatic widening was driven by a rush of imports as American companies raced to stockpile goods-especially pharmaceuticals-before the imposition
Economy
Introduction The Federal Reserve’s May 2025 policy meeting comes at a moment of heightened economic uncertainty for the United States. The central bank faces persistent inflation, a recent contraction in GDP, and the complex effects of President Trump’s new tariffs. Markets, businesses, and policymakers are watching closely for
Domestic Affairs
Introduction On May 6, 2025, Canadian Prime Minister Mark Carney arrived in Washington, D.C., for his first official meeting with U.S. President Donald Trump-a summit widely viewed as one of the most consequential and contentious in the modern history of U.S.-Canada relations. The two leaders met
Economy
Overview The U.S. services sector, a cornerstone of the national economy, demonstrated unexpected resilience and expansion in April 2025. According to the Institute for Supply Management (ISM), the Services Purchasing Managers’ Index (PMI) rose to 51.6, surpassing both the previous month’s reading and economists’ expectations. This marks
Economy
Introduction General Motors (GM), the largest U.S. automaker, is bracing for a potential $5 billion hit from tariffs in 2025, prompting the company to slash its profit outlook and suspend share buybacks. The tariff exposure-driven by President Trump’s sweeping 25% duties on imported vehicles and auto parts-has forced
Domestic Affairs
Introduction The U.S. economy shrank by 0.3% in the first quarter of 2025, marking its first contraction since 2022 and a dramatic reversal from the robust 2.4% growth recorded at the end of last year[1][2][3][4][5][6]. This downturn, captured in the Commerce
Domestic Affairs
Introduction United Parcel Service (UPS), one of the world’s largest logistics and package delivery companies, announced a sweeping plan to cut 20,000 operational jobs and close 73 facilities in 2025. This move comes as UPS restructures its business following a strategic decision to significantly reduce its reliance on
Domestic Affairs
Introduction The Trump White House has launched a sharp public attack on Amazon following reports that the e-commerce giant planned to display the cost of U.S. tariffs-imposed by President Trump-alongside the total price of products sold on its platform. White House Press Secretary Karoline Leavitt labeled the move a
Domestic Affairs
Introduction In a landmark achievement that highlights both its economic power and global influence, California has officially surpassed Japan to become the world’s fourth-largest economy. With a nominal gross domestic product (GDP) of $4.1 trillion in 2024, California now trails only the United States, China, and Germany. This