China’s industrial profits slipped in the first two months of 2025, signalling a challenging period ahead for businesses as they navigate persistent deflationary forces and an escalating trade war with the United States.

U.S. President Donald Trump’s threats to impose new tariff rates next week on countries around the world could cut the size of the British economy by up to 1% and wipe out most of its fiscal buffer, according to the government’s fiscal watchdog.

U.S. automakers and their global rivals were rocked on Wednesday by President Donald Trump’s announcement that he would impose 25% tariffs on all vehicles and foreign-made auto parts imported into the United States.

Oil prices edged lower on Thursday as markets weighed the impact of U.S. President Donald Trump’s auto tariffs at a time when concerns swirled about global supply due to U.S. tariff threats on buyers of Venezuelan oil and sanctions on Iran’s oil clients.

The euro bounced off a three-week low touched earlier on Thursday after U.S. President Donald Trump slapped a 25% tariff on imported cars and light trucks starting next week, even as the prospect of an all-out trade war dimmed risk sentiment.

Vietnam will cut its tariffs on several U.S. products including LNG and cars, and moved to approve Starlink services, as the country tries to avoid being hit with U.S. tariffs because of its large bilateral trade surplus.