Emerging markets
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U.S. tariffs and chip curbs deepen strain on Asia’s trade axis
China’s October exports fell 1.1% as U.S. tariffs dampened demand. Japan faces its first contraction in six quarters, and Washington has moved to block Nvidia’s AI chip sales to China — three fronts of tightening pressure across Asia’s trade and technology corridors.
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Delays stall US–UAE Nvidia chip deal, raising tensions
Nearly five months after its unveiling, the US–UAE AI chip pact remains stalled. Nvidia’s CEO and some officials see the delays as emblematic of deeper tensions around export controls, foreign investment, and the geopolitics of advanced technology.
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Trump signs order cutting tariffs on Japanese cars to 15%
U.S. President Trump has signed an executive order cutting tariffs. The measure reduces duties on Japanese cars and auto parts to 15%, down from 27.5%, and is tied to a $550 billion Japanese investment pledge. The order implements a July trade agreement and carries retroactive effect.
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BRICs and the new rules of global commerce
Tariffs have become geopolitical weapons of trade warfare in 2025. The US is targeting BRICS countries with sweeping levies, forcing businesses to rethink supply chains, risk planning, and resilience in a fragmented trade order.
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China’s exports surge as shippers race tariff deadline
China’s exports rose sharply in July, surprising many market watchers. Businesses accelerated shipments ahead of a new US tariff deadline, driving a sharp rise in exports and a 4.1% increase in imports. Southeast Asia absorbed more Chinese goods as trade shifted amid ongoing tensions between Washington and Beijing.
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UK–India trade pact to cut tariffs and boost GDP
A major UK–India trade pact will be signed in London next week. The free-trade agreement slashes tariffs on whisky and cars, boosts UK GDP by £4.8 billion, and grants duty-free access for 99% of Indian exports.
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Bulgaria cleared to join eurozone in January 2026
EU ministers have approved Bulgaria’s accession to the eurozone. The country will become the 21st member on 1 January 2026. Bulgaria’s conversion rate is fixed, and dual pricing will start in August as the government aims to ease consumer transition and address inflation concerns.
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UK set to lose most millionaires in 2025
The UK set to lose more millionaires than any country. A report indicates 16,500 millionaires will exit Britain by 2025. This trend highlights concerns over the UK’s economic competitiveness and tax environment, potentially impacting the nation’s wealth retention and economic health.
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Grids decide future of Europe’s AI data centres
Europe’s AI future hinges on grid speed. A new report warns that poor electricity grid planning could result in 13-year connection delays for data centres, pushing billions in investment away from the continent’s traditional tech hubs and towards more agile markets in southern and central Europe.
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UK–India trade deal promises business uplift
UK and India agree major trade deal. The agreement will cut tariffs, boost trade by £25.5bn, and open up key sectors. Ministers say the deal will benefit whisky, cars, and services — though ratification and investment talks are still ongoing.
