Washington, D.C./Beijing – May 12, 2025 – The United States and China have officially signed a new trade agreement, marking a significant shift in economic relations between the two global superpowers. The deal, announced earlier today, aims to ease tariffs, improve market access, and stabilize financial markets after years of trade tensions. Key Provisions of…
In a surprising turn of events, India and Pakistan have agreed to a full and immediate ceasefire following days of escalating military tensions. The announcement came from former U.S. President Donald Trump, who claimed the ceasefire was brokered through U.S.-led mediation. However, the agreement’s details remain contested, with India asserting that the truce was reached…
Singapore – May 12, 2025 – Industry leaders worldwide have gathered at the TFWA Asia Pacific Conference in Singapore to discuss the future of travel retail amid a surge in outbound tourism from China and India. The conference, a premier event for duty-free and travel retail professionals, focuses on digital innovation, sustainability, and evolving consumer…
Washington, D.C. — May 10, 2025 China’s exports to the United States have plummeted, marking a significant shift in trade patterns and underscoring the impact of President Donald Trump’s new tariff policy. The decline in Chinese shipments follows the introduction of a 10% baseline tariff on imports, which has reshaped business strategies and forced industries…
Trade tariffs have long been a tool used by U.S. presidents to protect domestic industries, negotiate trade deals, and influence global economic dynamics. Trump’s permanent 10% baseline tariff aligns with past protectionist policies but also differs in key ways. 1. The Smoot-Hawley Tariff Act (1930) One of the most infamous tariff policies in U.S. history,…
Manila, Philippines — May 10, 2025 The Commission on Elections (COMELEC) has issued a strong warning against misinformation spreading on social media that falsely claims the upcoming national elections have been moved to May 10 instead of May 12. Officials reaffirmed that the election date remains unchanged and urged voters to rely only on official…
Vatican City—Cardinal Robert Francis Prevost was elected Pope Leo XIV on Thursday, making history as the first American pope and the 267th leader of the Roman Catholic Church. His election followed Pope Francis’s death on April 21 and a two-day conclave in which 133 cardinals reached the required two-thirds majority. Prevost, born in Chicago in…
Manila, Philippines — The Philippine Coast Guard (PCG) has accused a Chinese research vessel of conducting unauthorized activities within the country’s exclusive economic zone (EEZ), raising further concerns over maritime security in the South China Sea. According to the PCG, the “Haiyang Dizhi 12,” was spotted operating near the waters off Palawan, allegedly engaging in…
Washington, D.C. — Former U.S. Senator David Perdue has officially been sworn in as the new U.S. ambassador to China, marking a significant transition in diplomatic relations between the two global powers. Perdue, a Republican who represented Georgia in the Senate from 2015 to 2021, steps into the role at a critical juncture, as tensions…
Washington, D.C. – The Federal Reserve has warned about the growing risk of stagflation, a rare economic condition marked by high inflation, slow growth, and rising unemployment. Fed Chair Jerome Powell emphasized that the central bank keeps interest rates unchanged while assessing the impact of former President Donald Trump’s aggressive trade policies. Trump, who has…
