Major Fire Erupts at Ecuador’s Largest Oil Refinery, Evacuations Ordered
Fire erupts at Ecuador’s largest oil refinery in Esmeraldas, prompting evacuations. Blaze contained after hours-long emergency response, officials confirm.
EconomicImpact
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EU Holds Firm as U.S. Delays Tariff Deadline to July 9
U.S. delays tariffs on EU until July 9 as both sides seek negotiations. EU warns of countermeasures while economists predict widespread economic risks.
U.S. Tariff Concerns Drive Consumer Anxiety, Asian Markets Watch Closely
70% of U.S. consumers expect higher prices due to tariffs, with implications for Asian exporters and global supply chains as spending slows.
Floods Threaten Argentina’s Soybean Harvest Amid Heavy Rains
Heavy rains flood Argentina’s agricultural heartland, threatening soybean harvests and global supply chains. Economic repercussions loom for markets.
Brazil’s Poultry Industry Hit by First Bird Flu Outbreak on Commercial Farm
Brazil confirms first bird flu case on commercial poultry farm, triggering international import bans and market concerns.
U.S. Tariff Pressures Threaten Small Businesses, Walmart Warns of Price Hikes
U.S. small businesses warn of bankruptcy risks due to tariffs as Walmart signals consumer price hikes, highlighting trade policy strains.
NJ Transit Strike Halts Rail Service, Disrupts Thousands of Commutes
New Jersey Transit rail services suspended indefinitely as engineers strike, disrupting commutes for thousands—including Asian diaspora communities and business operations.
China’s Nursing Workforce Expands 8% Annually Amid Global Health Push
China’s nursing workforce grows 8% annually, aligning with global efforts to strengthen healthcare systems amid rising demands and International Nurses Day observances.
US Small Businesses Grapple With Tariff Pressures Amid Economic Uncertainty
A CNBC survey reveals 66% of US small businesses feel tariff impacts, with 70% predicting recession risks and 51% bracing for future trade policy challenges.
Long Beach Port Warns of 20% Cargo Drop Amid Tariff Tensions
The Port of Long Beach anticipates a 20% cargo volume decline by late 2025 if tariff negotiations stall, signaling risks to global supply chains and product availability.
US Footwear Giants Urge Trump to Exempt Shoes from Tariffs
Major US footwear companies urge tariff exemptions, warning of closures and economic strain from 37.5% tariffs on shoes.
U.S.-China Tensions Could Risk Economic Toll, Warns Analyst
Fareed Zakaria warns U.S.-China economic tensions risk significant losses for America, questioning if tech restrictions could backfire by accelerating China’s innovation.
UK-US Tariff Deal Sparks Debate Over Economic Impact
New UK-US tariff deal stirs political debate, with critics warning of risks to domestic industries despite government praise.
Climate-Driven Wildfire Smoke Linked to 15,000 U.S. Deaths Over 15 Years
New study reveals climate-driven U.S. wildfires caused 15,000 deaths and $160B in losses since 2006, highlighting global air quality challenges.
Trump Tariffs Threaten U.S. Consumer Prices, Experts Warn
New U.S. tariffs could hike clothing prices by 65%, pharmaceuticals by $51B annually, sparking recession fears and consumer backlash, reports say.
76 US Footwear Giants Push for Tariff Exemptions Amid Trade Tensions
Major US footwear firms urge tariff exemptions amid rising trade tensions with the Chinese mainland, warning of industry-wide risks and supply chain disruptions.
U.S. Tariff Policies Spark Economic Self-Harm Concerns, Citizens Say
New York residents and experts highlight negative U.S. tariff impacts, describing them as self-inflicted harm amid rising costs and market instability.
US Tariffs Face Backlash as Economic Risks Mount
Growing opposition challenges Trump’s tariffs as critics warn of economic fallout and recession risks. Harris, Yellen, states, and businesses push back against trade policies.
U.S. Tariffs Backfire: Economy Contracts as Costs Soar
New U.S. tariffs trigger economic contraction, job losses, and rising household costs, sparking debates on trade policy effectiveness.
U.S. Consumers Face Rising Costs as Trade Tensions Impact Chinese Imports
As U.S.-China trade tensions escalate, American households may face price hikes and reduced availability of everyday goods reliant on Chinese imports, reports NYT analysis.