Overseas Headlines – March 25, 2022

United States:

U.S. Restores Waivers for Some Chinese Goods Hit by Tariffs

“The Biden administration plans to reinstate exemptions from Trump-era tariffs on about two-thirds of Chinese products that were previously granted waivers, most of which expired by the end of 2020. The U.S. Trade Representative’s office is reinstating the exclusions for 352 items, it said in a statement on Wednesday. The reinstated exclusions include a wide variety of machinery, manufacturing components and consumer goods, ranging from television-screen parts to backpacks, bicycles and pillows.”



U.K. Consumer Confidence Falls Amid Sense of Crisis on Inflation

“U.K. consumer confidence plummeted for a fourth month to its lowest since November 2020 as concerns about the surging cost of living and war in Ukraine weighed on sentiment. GfK’s monthly consumer confidence index, which is closely followed by the Bank of England and the Treasury, dropped 5 points in March to minus 31. That matched a level last hit when coronavirus cases were rising.”



China Struggles to Keep Growth Momentum Strong as Risks Escalate

“China struggled to boost economic momentum in March, as slumping car and home sales, stock market turmoil and higher inflation weighed on growth and a fresh round of Covid outbreaks swept across the country. That’s the outlook from Bloomberg’s aggregate index of eight early indicators for this month. The overall indicator for the economy was unchanged from last month, but sub-indexes weakened almost across the board.”



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