(Investing) – BEIJING/LONDON -China placed export restrictions on key rare earth elements on Friday as part of its sweeping response to President Donald Trump’s tariffs, potentially squeezing supply to the U.S. and the West of minerals vital to everything from defense to electric cars. China produces around 90% of the world’s refined rare earths, a group of 17 elements used across
(BOE Report) – European Commission President Ursula von der Leyen described U.S. President Donald Trump’s universal tariffs as a major blow to the world economy and said the European Union was prepared to respond with countermeasures if talks with Washington failed. Von der Leyen said the EU was already finalising a first package of tariffs on up to 26 billion
(Oil Price) – Canada’s energy minister has threatened Washington with curbing exports of crude oil in response to the Trump administration’s import tariffs on Canadian goods. Jonathan Wilkinson also suggested export tariffs were among the retaliatory options being considered. “When we are talking about non-tariff retaliation, it could be about restricting supply, it could be putting our own export duties on
(Investing) – NEW YORK -Oil prices edged up for a third straight day on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies, outweighing worries that escalating trade tariffs would boost prices and inflation and dampen global economic growth. Brent futures rose 86 cents, or 1.1%, to $76.73 a barrel by 11:06 a.m. EST (1606 GMT), while U.S. West Texas
(Investing) – LONDON – Oil prices rebounded on Monday despite lingering fears over a potential global trade war after U.S. President Donald Trump’s latest tariff plans, this time targeting steel and aluminium. Brent crude futures were up 87 cents, or 1.2%, at $75.53 a barrel by 1413 GMT. U.S. West Texas Intermediate crude added 1.3%, rising 90 cents to $71.90. Monday’s gains
(Investing) – HOUSTON -Oil prices edged lower on Monday after rising more than $1 earlier in the session after the United States and Mexico announced a month-long pause on tariffs the U.S. had slapped on its southern neighbour. U.S. President Donald Trump had imposed tariffs on Canada, Mexico and China to take effect from Tuesday, raising fears of supply disruption. Brent
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