Author: ALJAZEERA

US president says economy is in a “period of transition” amid uncertainty over his trade policies.United States President Donald Trump has declined to rule out the possibility that the world’s largest economy is headed for a recession amid market concerns over his “America First” economic agenda. In an interview with Fox News that aired on Sunday, Trump demurred when asked if he expected a recession this year. “I hate to predict things like that. There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing,” Trump said during…

Cryptocurrency falls as much as 6 percent as lack of plans for government purchases disappoints investors.United States President Donald Trump’s executive order to establish a Bitcoin strategic reserve and a stockpile of other digital assets has failed to impress crypto markets, with Bitcoin’s value plummeting following the announcement. Bitcoin fell as much as 6 percent following Trump’s order on Thursday, which did not include plans for the government to actively buy Bitcoin. After dropping as low as $84,900, the cryptocurrency was trading at about $87,700 as of 05:00 GMT. In a statement announcing the order, Trump’s crypto tsar David Sacks…

In October 2024, when director-producer Karan Johar’s Dharma Productions was gearing up nervously for the release of its Hindi-language film Jigra [Courage] in theatres, few knew that the 45-year-old production house, which has made some of India’s most loved films, had been struggling to survive. Since 2019, most of Dharma’s films had not done well, and only one of the four films they released in theatres in 2024 had recovered some money. Dharma’s net profits had plummeted, from $1.2m in fiscal year 2023 to $68,135 a year later. Its managers and directors had reportedly not been paid for months. And…

United States President Donald Trump has escalated his war of words with Canadian Prime Minister Justin Trudeau, hinting at rocky negotiations as Canada seeks to deescalate a growing trade war. On Wednesday, Trump turned to his social media platform Truth Social to give his version of a midday phone call he held with Trudeau. “The call ended in a ‘somewhat’ friendly manner,” Trump said, without offering specifics. The Republican leader did, however, accuse Trudeau of doing too little to address fentanyl trafficking, an issue experts say is of minor concern along the Canadian border. Trump also openly questioned Trudeau’s role…

The one month exemption is for cars and trucks that comply with USMCA’s content rules.President Donald Trump will exempt automakers from his punishing 25-percent tariffs on Canada and Mexico for one month as long as they comply with the terms of an existing free trade agreement, the White House has said. The announcement on Wednesday came after Trump spoke with the chief executive officers of the three big carmakers, Ford, GM and Stellantis. Auto stocks rose on the news, with General Motors up 5.3 percent and Ford up 4.1 percent. Trump’s press secretary said on Wednesday that the president is…

New 25 percent tariffs on Mexico and Canada imports take effect along with a doubling of duties on Chinese goods to 20 percent.United States President Donald Trump’s new 25 percent tariffs on imports from Mexico and Canada have taken effect, along with a doubling of duties on Chinese goods to 20 percent, launching new trade conflicts with the top three US trading partners. The tariff actions, which could upend nearly $2.2 trillion in two-way annual US trade, went live at 00:01 EST (05:01 GMT) on Tuesday, hours after Trump declared that all three countries had failed to do enough to…

TSMC CEO announced the plan with US president, the latest firm to make investment commitments since Donald Trump took office.Chip giant Taiwan Semiconductor Manufacturing Co plans to invest $100bn in the United States and build five additional factories in the coming years, it has said. TSMC CEO CC Wei announced the plan on Monday in a meeting at the White House with US President Donald Trump. “We must be able to build the chips and semiconductors that we need right here,” Trump said. “It’s a matter of national security for us.” TSMC, the world’s largest contract chipmaker, is a leading…

US president says Bitcoin, Ethereum, XRP, Solana, and Cardano will be included in ‘Crypto Strategic Reserve’.United States President Donald Trump has named five cryptocurrencies for his proposed reserve of digital assets, sending prices of the tokens soaring. Bitcoin, Ethereum, XRP, Solana, and Cardano will be included in a “Crypto Strategic Reserve”, Trump said on his Truth Social platform on Sunday. Trump, who in January signed an executive order to examine the creation of a “strategic national digital assets stockpile”, said the move would “elevate” the industry after years of “corrupt attacks” by the administration of former US President Joe Biden.…

US State Department says overseas development and aid programmes to be cut by $54bn.The United States has dramatically cut the budgets of overseas development and aid programmes, with multiyear contracts pared down by 92 percent, or $54bn, the State Department has said. After his inauguration on January 20, US President Donald Trump signed an executive order demanding a freeze on all US foreign aid for 90 days, during which time it would undergo a review by senior political leadership to cut spending on programmes that did not align with his “America First” agenda. The review in part targeted multiyear foreign…

China is experiencing a prolonged economic slowdown, which has led to a youth unemployment crisis. In 2023, the rate of 16 to 24-year-olds unable to find jobs reached a record high of 21.3 percent. Following the release of those figures, the government suspended reporting before revising its methodology to exclude university students. According to the latest figures, the rate is now 15.7 percent. Young people say they are having to settle for low-paying jobs, if they can find one at all. 101 East follows young jobseekers as they navigate China’s challenging labour market.