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BEIJING/MEXICO CITY/HANOI (Reuters) -A new U.S.-China agreement to pause sky-high tariffs on each other is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the U.S. to continue benefiting from a "China-plus-one" strategy by global producers. In the new world order dictated by President Donald Trump's shifting announcements of tariffs, countries measure their success not by the terms of their trade deals with the U.S. but by how they compare to other countries. For the last five weeks, many nations facing significant duties under Trump's now-paused "reciprocal" global tariff regime announced on April 2 took solace from having better rates than China, which saw U.S. tariffs on Chinese imports ratchet up from 20% to an embargo-like 145% from March to May.

TOKYO (Reuters) -Japan's Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump's tariffs. Japan's second-biggest automaker expects operating income to total 500 billion yen ($3.38 billion) in the year to March 31, 2026, versus 1.21 trillion yen in the year that just ended. Honda's forecast is the latest signal of the difficulty car makers are having navigating Trump's tariffs on foreign-made automobiles at the same time the industry is being hit by the rise of Chinese EV producers.

On Monday, the U.S. and China announced an agreement to significantly reduce tariffs on each other's imports for 90 days, with the U.S. lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%. The brokerage also raised its 2025 GDP growth forecast for the U.S. by 0.5 percentage points to 1% on a quarterly basis, it said in a note released on Monday. Goldman now expects the Federal Reserve to deliver just one rate cut in December, down from its earlier forecast of three for this year.

(Bloomberg) -- The US is on track for a very bad tourism year.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fire Aid, Stays Wary on ImmigrationAccording to new data from the World Travel & Tourism Council (WTTC), shared exclusively w

(Bloomberg) -- Chinese stocks fell in Hong Kong on Tuesday, as initial optimism from the tariff truce with the US gave way to concerns that Beijing would hold back on stimulus measures.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fi

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