Australia has found new markets for exports restricted by China after the recent fallout between the two countries, CNBC reported. Lowy Institute Lead Economist Roland Rajah said that while exports to China expectedly plunged in areas hit by sanctions, most of the trade found other markets.Beijing imposed restrictions on Australian imports after Australia backed a global … [Read more...] about Australian Exports Find New Markets After China’s Trade Restrictions
Forex News
Federal Reserve to Start Tapering Corporate Bond Holdings
The United States Federal Reserve will start winding down its corporate bond holdings accumulated in 2020 amid the COVID-19 pandemic, according to Reuters. Among those to be unwinded are holdings in the Secondary Market Corporate Credit Facility, including corporate bonds purchased in the secondary market and exchange-traded funds investing in corporate bonds.The holdings … [Read more...] about Federal Reserve to Start Tapering Corporate Bond Holdings
U.S. Eyes Retaliatory Tariffs on Six Countries Over Digital Services Taxes
The United States is set to impose retaliatory tariffs on six countries but will delay this for six months to pave the way for negotiations, according to the WSJ. The U.S. is looking to implement tariffs on the United Kingdom, Austria, India, Italy, Spain, and Turkey.Trade Representative Katherine Tai defended the tariffs as she said these were due to the digital services … [Read more...] about U.S. Eyes Retaliatory Tariffs on Six Countries Over Digital Services Taxes
India and U.K Want Free Trade Agreement Finalized By End of 2021
India and the United Kingdom are firming up dialogues on a broader free trade agreement targeted to be finalized by the end of the year, according to Bloomberg. Talks include opening up Indian markets to British medical devices, legal firms, and agricultural products including apples, quinces, and pears.The U.K. wants Indian tariffs slashed, particularly on whiskey currently … [Read more...] about India and U.K Want Free Trade Agreement Finalized By End of 2021
OPEC+ to Push Through With Planned Output Hike of 450,000 Barrels a Day
The Organization of the Petroleum Exporting Countries and its allies have agreed to implement a previously planned increase in output, the WSJ reported. The OPEC+ will boost output by about 450,000 barrels a day starting next month.Saudi Arabia will continue to unilaterally cut 1 million barrels a day.The oil producers in April decided to increase output by over 2 million … [Read more...] about OPEC+ to Push Through With Planned Output Hike of 450,000 Barrels a Day
