The associations urged the Trump administration to maintain a tripartite, cross-border, tariff-free deal.

With few signs that the Strait of Hormuz will be fully open to tankers anytime soon, islands in the Pacific face a deepening crisis with no end in sight.

Despite the weaker earnings outlook, Barry Callebaut said that it expects sales volumes to recover in the second half of the year.

TSMC also warned of potential long term impacts to profitability from the ongoing war in Iran, which has impacted the global supply of chemicals used in chipmaking.

In the case of a prolonged conflict in the Middle East, energy markets and economies around the world need to brace for significant disruptions in the months to come. 

Rising input costs tied to the conflict in the Middle East are adding strain to an already challenging farm economy, said the American Farm Bureau Federation.

Takaichi announced the initiative at a regional forum that included Japan and major Southeast Asian economies such as Thailand, Vietnam, the Philippines and Malaysia.

China is fighting back against what it sees as rising protectionism in the West.

Economists say impacts from the prolonged Iran war could reduce global demand for Chinese exports going forward.

Under the IMF’s “severe” scenario, global growth would struggle to stay above 2%, and inflation would rise to 5.8% in 2026, and 6.1% in 2027.