Global Economy

China and the United States struck a wide-ranging preliminary trade agreement covering tariffs, agriculture, rare earths and a 200-aircraft Boeing deal, following high-level talks in Seoul and Beijing.

The United Nations slashed its 2026 global growth forecast to 2.5% and raised inflation projections after the Iran-triggered Strait of Hormuz closure sent oil prices surging, marking the worst economic shock since COVID-19.

Vladimir Putin arrived in Beijing on May 19 for his 25th state visit to China, days after Trump's departure, as all four other UN Security Council leaders visited within six months.

From soybeans to semiconductors, Boeing to LNG — here's a factual breakdown of what the U.S.-China summit actually produced and what it means for global trade.

The U.S. and China reached a preliminary deal to reduce tariffs on non-sensitive goods and establish bilateral trade and investment councils, with agriculture and civil aviation identified as priority sectors.

Top petrochemical executives warned the industry is undergoing a structural shakeout — not a cyclical dip — as oversupply, trade barriers, and China's rising self-sufficiency rewrite the competitive rulebook.

FAO data shows global food prices rose for a third straight month in April, driven by higher energy costs, Middle East disruptions, and tighter fertilizer and wheat supply outlooks.

The U.S. Court of International Trade ruled Trump's 10% Section 122 global tariff illegal, paving the way for tariff refunds as Washington accelerates new Section 301 investigations.

The U.S. and Iran are reportedly close to a 14-point peace memorandum that could end the conflict, ease sanctions, and resume nuclear talks, triggering a sharp drop in global oil prices.

Global oil inventories are nearing eight-year lows, Goldman Sachs reports, with uneven regional depletion raising growing risks of refined fuel shortages and supply disruption pressures.

Brazil's oil and gas production reached a record 5.53 million boe/d in March 2026, driven by strong growth in pre-salt offshore fields, according to ANP data.

Japan's chemical imports from China jumped in March as Middle East supply disruptions hit domestic output, raising concerns over long-term reliance on lower-cost Chinese materials and industry competitiveness.

The United Arab Emirates will exit OPEC and OPEC+ on May 1, a move set to weaken the group's control over global oil supply and prices while reshaping energy markets worldwide.

China's industrial firms posted 15.5% profit growth in Q1, driven by strong manufacturing and private sector gains, while key industries showed mixed performance across segments.

U.S. President Donald Trump said the United States has fully taken control of the Strait of Hormuz amid escalating tensions with Iran, as Tehran rejects the claim and both sides trade warnings over maritime control.

Global oil prices jumped over 3% after renewed attacks in the Strait of Hormuz despite a claimed U.S. ceasefire, intensifying supply concerns and forcing airlines to cut capacity worldwide.

Rising crude oil prices are pushing costs through the pharmaceutical supply chain, with vitamins and sartan APIs leading price increases as capacity cuts and supply disruptions reshape the market.

Rising tensions from the U.S.–Israel–Iran conflict are tightening global supply chains, with Europe facing jet fuel shortages, while agriculture and manufacturing see rising cost and input pressures.

China's economy grew 5.0% in Q1 2026, driven by strong industrial output, rising exports, and steady services expansion, while investment stabilized and consumption showed gradual recovery.

OPEC lowered its Q2 2026 global oil demand forecast by 500,000 bpd due to Middle East disruptions but maintained full-year growth expectations, signaling temporary weakness in near-term demand.

China's producer prices rose 0.5% year-on-year in March 2026, reversing February's decline, while input costs climbed 0.8%, signaling a recovery in upstream industrial pricing despite continued weakness in consumer goods.

Asia is set to outpace the world with 4.7% GDP growth in 2025, driven by digitalization, AI innovation, and regional integration, cementing its role as the engine of global economic expansion.

The Bank of England kept rates at 3.75% as Middle East tensions push energy prices higher, raising UK inflation risks while economic growth remains weak and uncertain.

China denounces U.S. 301 trade investigations on overcapacity and forced labor, condemns arms sales to Taiwan, and urges Washington to resolve disputes through dialogue and uphold global trade rules.