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Trump imposes forced labor duties on 60 trading partners as  10% US tariffs expire

Trump imposes forced labor duties on 60 trading partners as  10% US tariffs expire

By David Lawder WASHINGTON, July 24 (Reuters) - The Trump administration on Friday imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, over allegations of lax enforcement of forced labor bans, just as a temporary 10% global tariff expired.
Reuters Reuters
Trump to impose 'forced labor' duties on Friday as temporary 10% US tariffs expire

Trump to impose 'forced labor' duties on Friday as temporary 10% US tariffs expire

By David Lawder July 23 (Reuters) - The Trump administration on Friday will impose new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union, over allegations of lax enforcement of forced labor bans, just as a temporary 10% global tariff expires.
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President Trump's Drug Tariffs Could Impact U.S. Generic Medicine Supply

President Trump's Drug Tariffs Could Impact U.S. Generic Medicine Supply

President Trump has announced a plan to impose tariffs on imported generic drugs, starting with a 100% tariff in 2028 and increasing to 200% in 2029. The policy aims to encourage domestic pharmaceutical production by making it more costly to import generics. However, experts warn that this could lead to shortages and increased costs for patients, as the U.S. heavily relies on imports for generic drugs. Currently, about 50% of generic drugs in the U.S. are manufactured in India, and 17% of active pharmaceutical ingredients come from China. The tariffs could drive foreign manufacturers out of the U.S. market, exacerbating existing drug shortages and potentially increasing reliance on more expensive branded drugs.
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Zimbabwe Joins BRICS New Development Bank, Secures Credit Opportunities

Zimbabwe Joins BRICS New Development Bank, Secures Credit Opportunities

Zimbabwe has officially become a member of the BRICS New Development Bank (NDB) as announced by Finance and Economic Development Minister Mthuli Ncube. This development is seen as a significant step for Zimbabwe in securing credit lines and accessing long-term financing for infrastructure and industrial projects. The NDB, established by Brazil, Russia, India, China, and South Africa, aims to finance sustainable development projects in developing countries. Zimbabwe's membership is expected to open up new avenues for economic growth, especially as the country has faced challenges in securing loans from traditional international financial institutions due to accumulated debt.
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President Trump Announces 100% Tariffs on Imported Generic Drugs to Reshore Production

President Trump Announces 100% Tariffs on Imported Generic Drugs to Reshore Production

President Trump has announced a plan to impose 100% tariffs on imported generic drugs starting in August 2028, with the aim of reshoring pharmaceutical production to the U.S. The tariffs are intended to encourage manufacturers to relocate their operations domestically. However, health policy experts express skepticism about the effectiveness of tariffs alone in achieving this goal. The generic drug industry, which accounts for 90% of U.S. prescriptions, relies heavily on imports from countries like India and China. The plan includes a two-year transition period for manufacturers to adjust their production strategies.
USA Today USA Today
Generic drug tariffs set to skyrocket in 2028. Consumers could feel impact

Generic drug tariffs set to skyrocket in 2028. Consumers could feel impact

Trump plans to impose a 100% tariff on imported generic drugs in two years to bolster domestic manufacturing of these widely-used medications.
Reuters Reuters
Brazil and US clash over future of payments as popular Pix system stirs global interest

Brazil and US clash over future of payments as popular Pix system stirs global interest

By Marcela Ayres BRASILIA, July 21 (Reuters) - Brazil's Pix, one of the world's most successful instant-payment systems, has become a flashpoint between Brasília and Washington as the Trump administration aims to protect U.S. firms from the model's growing appeal in dozens of countries. U.S.
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US-India Trade Agreement Nears Completion, Expected in 3-4 Months

US-India Trade Agreement Nears Completion, Expected in 3-4 Months

A trade agreement between the U.S. and India is nearing completion, with expectations for a signing within the next three to four months. The negotiations are almost finalized, pending the resolution of U.S. trade investigations into unfair practices. These investigations could lead to retaliatory measures if unresolved. The agreement aims to enhance market access and strengthen economic ties between the two nations, potentially benefiting various sectors by reducing trade barriers and fostering economic collaboration.
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Survey Reveals Majority of Consumers Trust Cotton's Environmental Safety Amid Rising Microplastic Awareness

Survey Reveals Majority of Consumers Trust Cotton's Environmental Safety Amid Rising Microplastic Awareness

Survey Reveals Majority of Consumers Trust Cotton's Environmental Safety Amid Rising Microplastic Awareness
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Environmental Advocates Call for New Mindset to Combat Corporate Pollution

Environmental Advocates Call for New Mindset to Combat Corporate Pollution

A recent article highlights the urgent need for a shift in mindset towards environmental protection, emphasizing the role of corporate polluters in the climate crisis. The piece argues that the world's largest corporate polluters have historically contributed significantly to greenhouse gas emissions, with the top 25 responsible for nearly 700 gigatons of CO2 emissions since 1854. Despite this, countries like the U.S., China, and India continue to support fossil fuel industries, exacerbating pollution at every stage of the fossil fuel lifecycle. The article calls for holding these corporations accountable through legal and regulatory means, and for citizens to adopt a proactive stance in demanding environmental justice.
Reuters Reuters
Analysis-Asia's rich swap sponsorships for stakes in sports as dealmaking hits record

Analysis-Asia's rich swap sponsorships for stakes in sports as dealmaking hits record

By Yantoultra Ngui and Vibhuti Sharma SINGAPORE/MUMBAI, July 23 (Reuters) - Asian wealthy families and fund managers are increasingly moving beyond sponsorships and charity-linked sporting events to invest directly in sports assets, betting that growing audiences and rising media-rights fees will
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Raj Subramaniam's Leadership and Global Strategy at FedEx Corporation

Raj Subramaniam's Leadership and Global Strategy at FedEx Corporation

Raj Subramaniam's Leadership and Global Strategy at FedEx Corporation