Business

The agreement paves the way for Germany’s CDU, CSU and SPD to form the country’s new government with Friedrich Merz as chancellor.

President Donald Trump’s tariffs are drawing swift retaliation from China, Canada and the European Union, deepening the global trade crisis.

Walmart said it wants to maintain the ability to keep prices low, which could affect its profits.

China on Wednesday said it would increase its reciprocal tariff on U.S. goods to 84% from a previous 34%, amid a deepening trade war between the world’s two largest economies.

“Traditionally you might have gone into the U.S. during a period of volatility, but this is a U.S. story. Germany is benefiting from a wider flight to quality.”

The EU has faced criticisms that its rules on everything from AI to taxation hinder innovation and make it harder for startups to operate across the region.

U.S. Treasury yields surged Wednesday as U.S. President Donald Trump’s tariffs regime continued to rattle markets.

Europe’s auto giants slipped on Wednesday, extending recent losses as U.S. President Donald Trump’s sweeping tariffs on dozens of countries came into effect.

China’s foreign ministry reiterated Wednesday that it will take “resolute and forceful” measures to protect its own interests.

European stocks were set to open lower on Wednesday, with markets struggling to maintain Tuesday’s positive momentum.