Business

On April 2, 2025, Donald Trump shocked the world by announcing "economic independence" for the US, imposing sweeping tariffs on every country in the world. The US Supreme Court has since ruled against the unprecedented move, but the US president seems keen to double down.  DW analyzed trade data on the origin of US imports over the past year to find out: What have Trump's tariffs achieved? How is the rest of the world adjusting to this new economic order? And who, if anyone, is reaping the benefits?  April 2, 2025: White House announces 'Liberation Day' tariffs  Under the "Liberation Day" tariffs, the White House announced that every country — with a few exemptions due to sanctions and pre-existing trade deals — would be subject to a 10% baseline tariff on all goods they export to the U...

Not many people enjoy paying taxes. But many voters don't see a problem taxing the superrich and making them pay their "fair share." One way is to increase income taxes. There's also the option for an annual or one-off wealth tax on everything someone has above a certain mark. A few governments want to tax extreme wealth to lower taxes on a stagnating middle class or to make up for social inequality. Others want to fill budget holes.Still others argue philosophically that excessive wealth should be limited since it no longer adds to the well-being of those individuals.  Calls to raise US income taxes The definition of rich is in the eye of the beholder. But generally, ultra-high-net-worth individuals have at least $30 million (€25.9 million) in investable assets, while the superrich ha...

Just as optimists sensed that the United States-Israel war with Iran was on the verge of winding down, the monthlong crisis takes yet another twist. One moment, US President Donald Trump signals that negotiations are progressing and a ceasefire deal is near at hand; the next, he threatens toredouble the bombing of Iranian energy and manufacturing facilities, Iran, meanwhile, is allowing a small number of ships to pass through the Strait of Hormuz, while denying that any real ceasefire talks are taking place. Most experts agree on one key point: The longer this conflict goes on, the more devastating its impact will be on the world's energy supplies, inflation and economic stability. Every extra week of disruption raises costs for consumers and businesses while growth slows. The Federal ...

Since the Iran war began, the surge in oil prices has stirred memories of the dramatic oil shocks of 1973 and 1979.    In 1973, oil-producing Arab countries imposed an embargo against Western nations to punish them for supporting Israel during the Yom Kippur War. Oil prices skyrocketed, forcing many Western governments to implement energy-saving measures such as gasoline rationing. Germany, for instance, declared several car-free days, banning private vehicles from the streets on four consecutive Sundays. Is the world once again on the brink of a similar crisis? Fatih Birol, the head of the International Energy Agency (IEA), gave a stark warning on Monday, describing the Iran war as "already the biggest threat to energy security in history." He views the current crisis as worse than th...

The world is naturally fixated on the oil and liquefied natural gas (LNG) tankers missing from the Strait of Hormuz due to the Iran war. After all, the narrow waterway between Iran and Oman carries around a fifth of global crude and LNG exports from the Gulf to the rest of the world. The more fragile cargo, however, is the fertilizer that helps feed the world and the food imports that keep Arabian Gulf states like the United Arab Emirates, Qatar, Kuwait, Oman, Bahrain and Saudi Arabia alive.  Gulf nations account for 20% of global traded volumes of key fertilizers such as ammonia, phosphates and sulfur, data from the maritime intelligence company Signal Group show. Nearly half the world's traded urea — the most widely used nitrogen fertilizer — comes from the Gulf region, with Qatar acc...

German automakers are in a crisis due to stagnant sales, falling profits and constant strategy shifts. Can the industry recover?

Gold, cocoa and oil are goods that are sought-after globally. And they can all be found in abundance in Ghana. This explains why the West African country earns more from exports than it has to pay for imports. To receive beneficial export conditions, Ghana granted market access to trading partners for suboptimal returns. Here's an example that shows how complex the effects of such trade agreements can be — and why export surpluses can belie a situation where some people will lose out. For example, 80% of chickens in Ghana do not come from local producers but are instead flown in frozen from Europe, the USA or Brazil, where breeders often only use the breast fillet domestically and sell the rest to foreign markets. Despite having to be pay 30% import duties, imported chicken can still b...

Less than 12 hours before a deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz was due to expire, the Republican announced he would postpone planned strikes on the Islamic Republic's power plants. Trump on Monday claimed "very good and productive" talks with Tehran had resulted in the five-day delay, although Iranian news agencies disputed his comments, reporting that there had been "no contact" between the two sides. Washington is trying to force Iran to end its effective blockade of the Strait of Hormuz, a critical waterway linking the Persian Gulf to the Indian Ocean through which a fifth of the world's oil and gas supplies is shipped. The strait's closure has left tankers stranded for several weeks, sending fuel prices soaring. But following Trump's la...

Stock markets dipped across the board early on Monday, with traders nervous after another weekend yielded no real signs of deescalation in Iran or the wider Gulf region or a reduction in the rising energy prices the conflict is causing. Several of the major Asian markets dipped by 3% or more, while Europe's main indices all shed in the region of 2% in morning trading. Government bond yields were up and even the traditional safe havens gold and silver shed more than 6% and 7% of their values.  However, an apparent change in tone from US President Donald Trump as he woke in the US prompted a rally on European markets and a positive start to trading in the US.At its lowest ebb, Japan's Nikkei was down nearly 5% in a single day, but it recovered slightly before the close of tradeImage: Eugen...

Hungary has dramatically increased its dependence on Russian crude oil since Moscow's full-scale invasion of Ukraine over four years ago, despite EU efforts to limit the import of Russian fossil fuels into the bloc. A new report from the Center for the Study of Democracy (CSD), a European public policy institute, states that in 2025, Russian crude accounted for as much as 93% of Hungary's oil imports, up from a 61% share in 2021. The report has been shared exclusively with DW. It also points to Budapest's deepening reliance on Russian gas and nuclear energy. Describing Hungary as "the most significant remaining stronghold of Russian energy dependence" in Europe, the report says Prime Minister Viktor Orban's government has purposefully deepened its dependence despite the EU's attempts to...