News

Rolling coverage of the latest economic and financial news, as MPs quiz the Bank of England about interest rates, and trade wars


The OECD also show how the United States’s effective tariff rate had risen to 15.4% by mid-May, up from just over 2% in 2024.
That’s the highest rate since 1938, after the Great Depression, when had significantly raised tariffs on imported goods in the US, in a failed attempt to support domestic industry.

A University of Michigan research fellow and her boyfriend are charged with smuggling a "potential agroterrorism weapon" into the U.S. from China.

The West Hollywood restaurant that helped popularize Chinese American cuisine will close in late July after more than 40 years in business.

A new Chinese-American restaurant is coming to Southeast Baltimore. Bao Di, which will be located at 3215 Eastern Ave., has not yet disclosed an opening date. However, its Instagram profile biography promises that the eatery will fuse Chinese comfort food with “American Chinese classics.”

In response to President Trump’s claim, China said the United States was the one introducing a series of “discriminatory restrictive measures.”

Lion dances are staged in celebration of Asian American and Pacific Islander (AAPI) Heritage Month in New York, the United States, on June 1, 2025. (Photo by Qin Mingwei/Xinhua) ...

But the 90-day tariff pause agreed by China and the U.S. in Geneva in May is now under threat as both sides have accused each other of breaching the terms.

But the 90-day tariff pause agreed by China and the U.S. in Geneva in May is now under threat as both sides have accused each other of breaching the terms.

NJ opens first green affordable housing. There might not be more like it.

As the anniversary of the 1989 massacre approaches, the Uyghur activist reflects on his lifelong dedication to the fight for democracy
When I was little, mum used to take us to visit an elderly Uyghur couple every year. We would climb up the winding concrete stairs in a Soviet-era apartment block and be greeted with a warmth that felt like family. Over piping hot bowls of Uyghur chay, mum would talk to them for hours while my brother and I listened. I always assumed they were relatives of ours, until mum told me that they were the parents of her friend Örkesh Dölet, and they had not seen their son for over 20 years. As a child, I didn’t know who Örkesh was, but my heart broke for his parents, who clearly loved and missed their son so very dearly.
Growing up in Beijing, dad used to take us to Tiananmen Square on weekends to fly colourful swallow-shaped kites. Due to censorship, I never knew that the pristine, neatly paved tiles beneath the soles of my sparkly light-up sneakers were once carpeted with the corpses of brave pro-democracy student protesters. I never saw the famous photo of “tank man”. I never knew the date “4 June 1989” had any significance for the city that I called home.

In 1989, a young Uyghur named Örkesh Dölet was a student leader in the Tiananmen Square protests. Throughout the protests, Dölet represented students in televised negotiations with Chinese Communist Party leaders. After the massacre, the 21-year-old was put on China’s list of most wanted student leaders and so he fled the country. He now lives in exile in Taiwan. ‘For every important choices I make in my life, my Uyghur-ness has always came in and played an important role,' he says. 'That we do the right thing, not the safe thing.’

A family-owned and operated restaurant chain, the largest Asian dining concept in the United States, has expanded its regional footprint.