China has pledged full support to Brazil in resisting President Donald Trump’s escalating tariff policy, calling it a threat to global trade stability and a violation of international law. In a Wednesday phone call, Chinese Foreign Minister Wang Yi offered to deepen strategic cooperation with Brazil against what he called the “external uncertainties” created by the United States.
U.S. Treasury Secretary Scott Bessent said the administration is "very close" to completion of multiple trade deals with U.S. trading partners in Asia.
President Donald Trump announced a sweeping series of tariffs last Friday, sparking strong reactions over the weekend from markets, media, and political observers. The move caused a sharp dip in the stock market and raised concerns about short-term economic turbulence, but Trump and his allies argue the long-term goals are critical for national security and economic sovereignty.
The U.S. economy closed out 2024 with steady growth, propelled by resilient consumer spending that more than offset challenges in business investment and global trade. Despite high interest rates and ongoing inflation pressures, economic momentum remained intact, setting the stage for an uncertain but potentially strong 2025.
