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US retail sales rose 0.6% in August, driven by affluent consumers, despite tariff pressures on autos and furniture. Meanwhile, US industrial production barely increased, reflecting ongoing manufacturing challenges and trade uncertainties. The data suggests uneven economic momentum ahead of the Federal Reserve's rate decision today.
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China has warned the UK of retaliation if ministers target its security agencies under foreign influence rules. The warning follows UK considerations of measures that could impact China’s security operations, amid ongoing tensions over trade and diplomatic relations. The story highlights escalating diplomatic friction as both nations navigate complex strategic interests.
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In September 2025, British prosecutors dropped espionage charges against Christopher Cash and Christopher Berry, accused of spying for China between 2021 and 2023. The case collapsed after the government failed to provide evidence that China was a national security threat at the time of the alleged offenses, a legal requirement under the 1911 Official Secrets Act. Both men deny wrongdoing.
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China’s Ministry of Commerce added TechInsights and other foreign tech firms to its unreliable entity list, citing military and technological cooperation with Taiwan. The move follows recent reports linking Huawei chips to Asian semiconductor firms, intensifying the US-China tech conflict. The blacklist impacts companies’ ability to do business in China.
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President Trump is in South Korea for the APEC summit, where he expects to meet Xi Jinping to de-escalate trade tensions. Talks focus on tariffs, export controls, and US-China relations amid ongoing disputes over trade practices, rare earths, and technology restrictions. The outcome remains uncertain but signals a potential easing of tensions.
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President Trump and Xi Jinping held their first face-to-face talks since 2019 in Busan, South Korea, focusing on trade, tariffs, and strategic issues. Both leaders discussed upcoming summits, potential visits, and areas of cooperation, signaling a possible shift toward a more constructive relationship amid ongoing tensions.
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Italy's top pasta exporters face potential tariffs of over 100% from the US, threatening to raise prices and reduce exports. The US accuses Italian firms of dumping low-priced pasta, prompting investigations and diplomatic tensions. The move could impact Italy's $770 million annual pasta sales to the US.
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Switzerland and the US have agreed to reduce tariffs from 39% to 15%, aligning US duties with the EU. The non-binding framework aims to ease trade tensions, boost Swiss exports, and encourage US manufacturing investments, with implementation expected soon. The deal follows months of negotiations and high-level lobbying.
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US officials are privately considering delaying promised semiconductor tariffs, a key part of Trump's economic agenda. The decision reflects concerns over trade relations with China, consumer costs, and legal challenges. The Commerce Department's probe and Supreme Court cases are central to the timing of any tariff implementation.
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Japan's October 2025 exports increased 3.6%, driven by semiconductors and gas turbines, but exports to the US fell 3.1% for the seventh consecutive month, mainly due to tariffs. Imports rose slightly, and Japan's trade surplus with the US narrowed. The economy shows signs of strain from US trade policies.
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The Netherlands has suspended its plan to take control of Chinese-owned Nexperia after diplomatic talks with China. The move aimed to prevent supply chain disruptions in the global chip industry, which is affected by geopolitical tensions. The decision follows recent negotiations and China's lifting of export bans.
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Recent reports highlight aging populations and stagnant income growth in the US and Europe. In the US, income growth for workers aged 25-54 remains low at 1.6%, while Europe faces declining birth rates and shrinking working-age populations, threatening future economic expansion.