Economy News & Analysis
50 articles
Market Mood
UK Economy Grows 0.4% in July, Outpacing Expectations
The UK's economy grew by 0.4% in July, exceeding economists' predictions of no growth, according to the Office for National Statistics (ONS). This growth was supported by a strong performance in the services sector, particularly in computer programming. July's expansion follows a growth of 0.3% in June and zero growth in May. While this positive figure indicates resilience amid global challenges, experts warn that high energy prices may soon impact household budgets and overall economic growth.
Read More: UK Economy Grows 0.4% in July, Outpacing Expectations
Trump Confirms No Regrets Over Iran War Amid Economic Pressure
President Donald Trump stated he has no regrets about starting the Iran war and would do it again, despite potential impacts on midterm elections. Economic pressure continues as U.S. Treasury Secretary Scott Bessent announced sanctions against a large bank linked to Iran, following previous sanctions on the Dubai branches of Egypt's second largest bank, which provided Iran with $1.8 billion. As discussions arise about the war potentially extending beyond Trump's current term, he emphasized that the conflict will conclude immediately after the midterm elections. This situation could impact oil and gas prices and market stability for investors.
Read More: Trump Confirms No Regrets Over Iran War Amid Economic Pressure
Rising Gas Prices Impact Commuting and Grocery Costs
Record-high diesel and rising gas prices are expected to increase costs for consumers, affecting commuting and grocery shopping. Analysts suggest that diesel, a key fuel in the economy, influences a broad range of prices. As costs increase, households may face tougher budgeting choices, potentially impacting overall consumer spending. This situation may affect market dynamics as consumers adjust their spending habits to accommodate rising transportation costs.
Read More: Rising Gas Prices Impact Commuting and Grocery Costs
Trump Promises $5,000 Payment to Americans amid Midterm Elections
US President Donald Trump has pledged to provide $5,000 to every adult American if he is successful in the midterm elections. This proposal, which could exceed $1.3 trillion in costs, faces obstacles including the need for congressional approval and potential legal challenges regarding vote solicitation. Previous instances of similar promises made by Trump are also examined. The significance of this proposal lies in its potential impact on federal spending and electoral motivations, which may influence market sentiment.
Read More: Trump Promises $5,000 Payment to Americans amid Midterm Elections
Wholesale Inventories Surge 0.3% in July 2023
In July 2023, US wholesale inventories increased by 0.3%, marking a change from a 0.1% decline in June. This rise is attributed to ongoing supply chain adjustments. Higher wholesale inventory levels can indicate future spending trends and influence economic growth forecasts. For investors, this data can signal market confidence and potential demand shifts, impacting various sectors.
Read More: Wholesale Inventories Surge 0.3% in July 2023
England Mayors Get Power for Visitor Tax Introducing New Tourist Levy
Mayors in England will soon have the authority to impose an overnight visitor levy on tourists. This uncapped tax will be calculated as a percentage of accommodation costs instead of a flat fee. Mayor of London Sir Sadiq Khan estimates this could generate more than £350 million annually for the capital from a 3% levy. The government plans to provide further details about this policy following a meeting between Housing Secretary Angela Rayner and local leaders. This potential tax may affect the affordability of holidays in England for families.
Read More: England Mayors Get Power for Visitor Tax Introducing New Tourist Levy
Treasury Secretary Bessent's Speech on Market Credibility Debates
Treasury Secretary Scott Bessent's speech at the Republican midterm convention in Dallas is the first by a sitting Treasury secretary in 50 years. His comments about U.S. economic successes under President Trump included mentioning GDP and factory payrolls. Bessent also announced that the Treasury Department would buy back up to $6 billion in long-term Treasury debt this week, reflecting ongoing buyback operations initiated in 2024. However, despite initial positive market reactions, long-term Treasury yields rose to 4.84%, higher than any point during Trump's presidency. This shift could impact investor strategies related to government bond investments.
Read More: Treasury Secretary Bessent's Speech on Market Credibility Debates
Bombardier Seeks to Fill 500 US Jobs Amid Challenges
Bombardier announced plans to fill 500 open jobs in the US. This initiative comes in the context of challenges posed by statements from former President Trump. The company aims to strengthen its workforce despite external pressures. The jobs created could have an impact on local economies and employment rates, which is relevant for investors considering labor market trends.
Read More: Bombardier Seeks to Fill 500 US Jobs Amid Challenges
Stocks Fall After Hot Jobs Report Signals Economic Strain
U.S. stocks fell following a strong jobs report, indicating potential pressure on the economy. The report showed job growth exceeding expectations, which may lead to changes in monetary policy. Such trends typically influence market sentiment and can affect stock performance across various sectors. Investors should remain alert as strong job figures often prompt discussions on interest rates and economic stability.
Read More: Stocks Fall After Hot Jobs Report Signals Economic Strain
Mexico Economic Growth Projected at 2.5% for 2027 Budget Draft
Mexico anticipates an economic growth of up to 2.5% in 2027, as indicated in its budget draft. The country is also expecting a narrower deficit for that year. These projections are crucial for investors considering the stability and growth potential of Mexico's economy. Understanding Mexico's fiscal outlook may impact investment decisions related to the region.
Read More: Mexico Economic Growth Projected at 2.5% for 2027 Budget Draft
Eurozone Economy Surged as Energy Prices Increased Amid Conflict
The Eurozone economy has experienced significant growth, largely driven by surging energy prices linked to ongoing conflicts. This surge reflects how geopolitical tensions can adversely impact economic dynamics and put upward pressure on energy costs. Increased spending and investments in the Eurozone are expected as businesses and consumers adapt to the changing economic landscape. For investors, understanding these trends is crucial as they may influence market stability and asset performance.
Read More: Eurozone Economy Surged as Energy Prices Increased Amid Conflict
Retirement-Savings Formula Gains Popularity Among Young People
A new retirement-savings formula is increasingly attracting interest from young people, focusing on simple, easily understandable strategies. The approach emphasizes the importance of saving early and consistently for retirement, which could lead to higher savings rates among millennials and Gen Z. Financial advisors suggest that adopting such methods may enable a more secure future for younger generations, potentially impacting market trends as these individuals build wealth. This shift in behavior could lead to greater investment in various financial products as there is a growing emphasis on retirement planning.
Read More: Retirement-Savings Formula Gains Popularity Among Young People
Beijing to Inject Over $50 Billion Into Banks and Insurers
Beijing plans to inject over $50 billion into banks and insurers to stimulate economic growth. This significant liquidity effort comes amid slowing growth and aims to bolster the financial system. Such actions could enhance lending capabilities and support businesses. Investors may view this as a proactive measure to stabilize the economy, potentially impacting market confidence and investment decisions.
Read More: Beijing to Inject Over $50 Billion Into Banks and Insurers
Allied Universal Sees $50 Billion Security Industry Growth
The private security sector, including companies like Allied Universal, is projected to surpass $50 billion in revenue by 2025, with a 17% increase over the past decade. The Hillcrest Business Association in San Diego has begun spending approximately $400,000 annually for unarmed security patrols and plans to increase its budget by about $150,000 next year for additional coverage. Allied Universal, which has annual revenue of about $23 billion, supports over 80% of Fortune 500 companies and employs roughly 800,000 workers worldwide. This trend indicates a significant rise in demand for security services amid rising political and cultural tensions in the U.S., making it relevant for investors in the security service sector.
Read More: Allied Universal Sees $50 Billion Security Industry Growth
Italy’s Construction Sector Declines 4 Year Low Impacting Markets
Italy's construction sector reported its sharpest decline in four years. This drop is significant as it reflects broader challenges within the Italian economy. The exact percentage change in the sector was not specified, but the decline could impact related markets and investor sentiment. Observations from this downturn may signal potential shifts in economic recovery and demand in construction-related industries. Investors should monitor these developments as they could influence market dynamics.
Read More: Italy’s Construction Sector Declines 4 Year Low Impacting Markets
Yen’s exchange rate change impacts market sentiment
The article discusses the fluctuations in the Japanese yen's exchange rate, indicating that recent changes may be causing concerns among investors. It highlights the effects of these fluctuations on market sentiment, particularly in relation to currency trading. Analysts suggest that the yen's performance could influence investment decisions in various markets. Understanding these movements is important as they can affect economic forecasts and investor behavior concerning Japanese assets.
Read More: Yen’s exchange rate change impacts market sentiment
France Construction Sector Hits Lowest Level Since May 2020
The French construction sector has reached its lowest level since May 2020. This decline signals ongoing challenges within the industry, which could affect related markets negatively. Analysts have highlighted that construction activity is crucial for economic growth, and any downturn may lead to broader economic implications. Investors should pay attention to the construction sector's performance as it may influence economic stability and other sectors.
Read More: France Construction Sector Hits Lowest Level Since May 2020
Germany’s Construction Decline Slows to Eight-Month Low
Germany's construction sector has reported a slowing decline, reaching its lowest point in eight months. This development suggests a potential stabilization in the market, which could affect investor sentiment positively. While the specific figures for construction output were not provided, the trend indicates an easing of previous contractions. This improvement could signal a rebound in construction activity, important for investors tracking the German economy.
Read More: Germany’s Construction Decline Slows to Eight-Month Low
Eurozone construction activity falls 2.2% in August 2023
In August 2023, construction activity in the Eurozone decreased by 2.2%, reflecting challenges in the sector. This decline is notable given the overall economic context, potentially affecting investor confidence in related markets. The Eurozone's construction output has seen fluctuations, and such drops may signal underlying economic issues. Investors should monitor these developments as they could influence broader market trends and sector investments.
Read More: Eurozone construction activity falls 2.2% in August 2023
Best Birthday Freebies: Free Meals, Discounts on Cake and Pizza
Many companies offer birthday freebies through loyalty programs, including free cakes and meals. For example, Burger King offers a free Whopper, while Turtle Bay provides £20 birthday credit with no minimum spend. Fast-food outlets generally offer either free items or buy-one-get-one-free deals. Understanding these offers is important for consumers to maximize value from loyalty programs and avoid assumptions about 'free' items, which may require minimum purchases.
Read More: Best Birthday Freebies: Free Meals, Discounts on Cake and Pizza
France services activity contracts 3.9% in August, PMI reports
In August, France's services activity contracted by 3.9%, driven by weaker demand according to the latest Purchasing Managers' Index (PMI). This decline marks a significant shift from prior growth, signaling potential challenges in the services sector. Analysts are observing this trend closely, as it may influence overall economic stability. Investors should note that weak services data could impact market sentiment and growth forecasts.
Read More: France services activity contracts 3.9% in August, PMI reports
China’s Services Gauge Surprises with Rebound in Q3 2023
China's services sector gauge showed a strong rebound, outperforming forecasts. The index rose to 55.1 in September 2023, exceeding estimates of 53.5, reflecting growth in the services industry. This improvement follows a previous reading of 52.8 in August. The positive data suggests a strengthening economy, impacting investor sentiment and market outlook for China’s economic recovery. Such growth may influence global markets and investors considering exposure to China.
Read More: China’s Services Gauge Surprises with Rebound in Q3 2023
Tropical Depression Edouard Causes Flooding in Texas
Tropical Depression Edouard has impacted Texas with flash flooding and downed trees. This weather event can lead to disruptions in local economies and may affect markets tied to agriculture and insurance sectors. The extent of the damage and the responses from local authorities will determine the upcoming economic implications for residents and businesses. Such natural disasters can lead to potential losses for investors in affected regions.
Read More: Tropical Depression Edouard Causes Flooding in Texas
Canada Gas Tax Break Extended Amid Rising Energy Costs
Canada will extend its gas tax break to help mitigate rising energy costs attributed to the conflict in Iran. This move comes as gas prices have increased significantly due to geopolitical tensions, impacting consumers at the pump. While specific figures on the tax break's duration were not provided, the measure aims to alleviate financial pressure on Canadian consumers during these challenging times. This development is relevant for investors monitoring energy markets, as government interventions can influence pricing and supply dynamics.
Read More: Canada Gas Tax Break Extended Amid Rising Energy Costs
Trump to Meet Travel CEOs on Tourism Strategy
Former President Donald Trump is scheduled to meet with travel industry CEOs to discuss strategies for boosting tourism. This meeting can have implications for the travel and hospitality sectors, affecting companies within this space. The specific outcomes or key figures from this meeting are not mentioned. Investors in travel-related assets should pay attention to any announcements that may arise from this meeting.
Read More: Trump to Meet Travel CEOs on Tourism Strategy
Uber (UBER) to Cut 3,300 Jobs in Major Management Overhaul
Uber (UBER) announced plans to eliminate 3,300 jobs as part of a management overhaul. This decision highlights efforts to streamline operations amid ongoing challenges in the ride-sharing sector. The job cuts represent a significant reduction in the company’s workforce, signaling a focus on efficiency and cost management. For investors, these changes could impact operational performance and stock performance in the near term.
Read More: Uber (UBER) to Cut 3,300 Jobs in Major Management Overhaul
Australia Q2 GDP Growth Surpasses Forecast, Impacts RBA Rate Hike
Australia's Q2 GDP grew by 0.9%, exceeding expectations of 0.7%. This growth strengthens the case for a possible rate hike by the Reserve Bank of Australia (RBA) in the coming months. The data reflects a resilient economy, prompting market speculation about monetary policy adjustments. Positive economic indicators suggest potential for enhanced investment opportunities and adjustments in central bank strategies, which could influence financial markets.
Read More: Australia Q2 GDP Growth Surpasses Forecast, Impacts RBA Rate Hike
Honda (HMC) directs suppliers for $9 billion in cost reductions
Honda (HMC) has instructed its suppliers to implement cost reductions as part of a strategy aimed at saving $9 billion. This initiative is a response to increasing competition from China. The company is making these adjustments to enhance its profit margins amidst rising expenses. This cost-cutting effort highlights Honda's efforts to stay competitive, which could resonate with investors keeping an eye on its financial health.
Read More: Honda (HMC) directs suppliers for $9 billion in cost reductions
Carney advises Trump to ease tough rhetoric amid economic shifts
Mark Carney, the former governor of the Bank of England, urged President Trump to reduce his tough stance in discussions related to the economy. Carney's comments reflect concerns over potential market volatility linked to aggressive rhetoric. The implications of such statements suggest a need for more stability in communications with investors. This guidance may affect market sentiment as clarity and moderation in leadership can influence investment decisions.
Read More: Carney advises Trump to ease tough rhetoric amid economic shifts
Cuba Schools Reopen Amid Energy Shortages and Supply Issues
Schools in Cuba have reopened, but the country is still facing persistent shortages of fuel, water, and power. This situation has caused significant disruptions in daily life and may impact the overall functioning of the education system. The economic implications of these shortages can affect various sectors within Cuba, including education and public services. For investors, these conditions provide insight into potential challenges in Cuba's economic stability and growth prospects.
Read More: Cuba Schools Reopen Amid Energy Shortages and Supply Issues
Canada's Carney Speaks on Trade Talks and U.S. Tariffs
Canadian Prime Minister Mark Carney criticized the Trump administration's mockery of Canada amid suspended trade negotiations on August 22, 2026. He highlighted the U.S. imposing a 50% tariff on $20 billion worth of Canadian imports. Following this, Canada announced tariffs on over 700 U.S. goods. Carney emphasized the need for serious discussions to achieve a mutually beneficial trade deal. This ongoing situation may influence investor sentiment regarding trade relations and market stability between Canada and the U.S.
Read More: Canada's Carney Speaks on Trade Talks and U.S. Tariffs
Government Borrowing Costs Increase, Affecting Global Policymakers
Government borrowing costs have increased, creating challenges for global policymakers. Higher borrowing costs can influence interest rates and overall economic stability. This development may lead to adjustments in fiscal and monetary policies as countries respond to these changes. The rise in borrowing costs is significant for investors, potentially affecting market sentiments and investment decisions. Investors should stay informed about these trends as they may impact their portfolios.
Read More: Government Borrowing Costs Increase, Affecting Global Policymakers
Canadian Goods Drive Direct-to-Consumer Sales Growth in 2023
Canadian manufacturers are experiencing increased demand for locally made goods, leading to a shift towards direct-to-consumer sales strategies. This trend signifies a reduced reliance on the U.S. market for Canadian businesses. The focus on local goods is expected to influence market dynamics, potentially impacting trade and sales figures in various sectors. This shift highlights the growing consumer preference for Canadian products, which may affect investor sentiment towards involved companies.
Read More: Canadian Goods Drive Direct-to-Consumer Sales Growth in 2023
Syracuse Faces Enrollment Challenges Amid Financial Pressures
Syracuse University struggles to attract enough students, limiting its ability to meet financial obligations. The institution depends heavily on enrollment for revenue, making the current trend concerning. A decline in student interest can affect funding for programs and services, influencing the overall economic health of the institution. This situation may impact local economies reliant on the university's operations and student spending.
Read More: Syracuse Faces Enrollment Challenges Amid Financial Pressures
McKinsey's Contrarian View on China: No Stagnation Predicted
McKinsey's Nick Leung and Joe Ngai assert that China is not facing Japan-style stagnation. They argue that despite a sluggish consumer and a challenging real estate environment, China remains strong due to its manufacturing dominance and investment in technology. The authors suggest that multinationals should continue investing in China to remain competitive in its vast consumer market. This analysis matters for investors as it highlights ongoing opportunities and risks associated with foreign investments in China.
Read More: McKinsey's Contrarian View on China: No Stagnation Predicted
China's Manufacturing Activity Contracts to 49.8 in August 2023
China's manufacturing sector shrank for the second consecutive month in August 2023, with the official purchasing managers' index reading at 49.8, up from 49.2 in July but below the economists' forecast of 49.6. Economic growth slowed to 4.3% in the second quarter, marking the weakest expansion since late 2022. Despite challenges like soft domestic demand and higher unemployment, some economists anticipate improved growth in the latter half of the year due to increased fiscal spending by local governments. This data is significant as it could influence market perceptions of China's economic recovery and affect investment strategies.
Read More: China's Manufacturing Activity Contracts to 49.8 in August 2023
Social Security Recipients May See $200 Monthly Increase
Congress is considering a bill that could provide a $200 increase to monthly Social Security payments for retirees. This proposal aims to offer a raise greater than the usual annual cost-of-living adjustment (COLA). The discussions around this increase, often referred to as the ‘Bernie Bump,’ are being driven by the Democratic party to provide more financial support for retirees. This potential adjustment is significant for millions of Americans relying on Social Security benefits, as it could impact their financial stability moving forward.
Read More: Social Security Recipients May See $200 Monthly Increase
UK Families Tackle Financial Favouritism: 15% of Siblings Affected
A recent US study suggests that around 15% of siblings experience conflicts over financial matters due to parental favoritism. This issue can lead to jealousy, resentment, and even legal disputes after a parent passes away. One case highlighted involves a man whose parents refused to lend him £10,000 for a house deposit while previously helping his brother. Understanding these dynamics may help families avoid misunderstandings that impact relationships, which matters for investors considering the long-term impact of familial financial dynamics on asset planning and inheritance.
Read More: UK Families Tackle Financial Favouritism: 15% of Siblings Affected
US Treasury Blocks Journalists from G20 Meeting in NC
The US Treasury has blocked certain journalists from attending the G20 meeting in North Carolina. This decision may impact the coverage of discussions surrounding global economic policies and initiatives at the summit. The G20 meeting, which includes major economies, could influence international market stability and investor confidence. This event is important for investors as it may affect market sentiment and economic forecasts based on the outcomes of the discussions at the meeting.
Read More: US Treasury Blocks Journalists from G20 Meeting in NC
Jackson Hole Event Reveals Treasury and Fed Tensions
The Jackson Hole Economic Symposium highlighted ongoing tensions between the Treasury and the Federal Reserve regarding fiscal policy. The event showcased both sides' positions on managing interest rates and inflation, which could influence monetary policy moving forward. Participants included key economic figures, but no specific metrics or statements were reported about changes in P/E ratios or market performance. These dynamics may impact investor sentiment and strategy as economic conditions evolve, indicating potential market volatility. Understanding government interactions is essential for ordinary investors.
Read More: Jackson Hole Event Reveals Treasury and Fed Tensions
Ferry Capsizes Off Northern Cyprus with 260 Passengers
A ferry carrying over 260 passengers capsized off northern Cyprus. The incident has raised concerns regarding maritime safety in the region. Immediate rescue efforts were initiated to save the passengers aboard. This situation may impact tourism and shipping activities in northern Cyprus, affecting local economies dependent on these industries.
Read More: Ferry Capsizes Off Northern Cyprus with 260 Passengers
Pulpwood Market Collapse Impacts Southern Forest Economy
The pulpwood market is experiencing a significant collapse, affecting the forest economy in the southern United States. Key factors include declining demand, which has led to a decrease in prices and sales. This downturn is influencing various sectors, including timber and paper products, potentially leading to job losses and economic stress in these communities. For investors, understanding the changes in the pulpwood market is crucial as it may impact related industries and their stock performances.
Read More: Pulpwood Market Collapse Impacts Southern Forest Economy
Europe Central Bankers Anticipate U.S. Relations Turbulence
European central bankers have expressed concerns about potential challenges arising from ongoing tensions in U.S. foreign relations. The officials noted that these geopolitical issues could lead to instability in financial markets, affecting both trader confidence and economic forecasts. No specific numbers, timelines, or policy changes were mentioned in relation to these concerns. This news highlights the interconnectedness of global markets, suggesting that investors should remain vigilant about geopolitical developments impacting their investments.
Read More: Europe Central Bankers Anticipate U.S. Relations Turbulence
Debt Crisis Warning: Rogoff Highlights 6-7% Deficit Impact
Kenneth Rogoff, Harvard economist, warns of an impending U.S. debt crisis attributed to a deficit currently at 6% to 7% of GDP. He suggests that higher earners will be responsible for the costs, as no political action is being taken to address the deficit. As of now, the 30-year Treasury yield stands at 5.2% and the 10-year Treasury yield is near 4.7%. This situation signifies potential adjustments that could impact tax policy and investment strategies, which is important for investors to consider for future planning.
Read More: Debt Crisis Warning: Rogoff Highlights 6-7% Deficit Impact
The Fed's $3 Trillion AI Boom Watch and Economic Impact
The Federal Reserve is monitoring the AI sector, which has reached $3 trillion in financing. Former Fed official, Kevin Warsh, highlighted the potential of AI to accelerate economic growth while raising concerns about the sources of this funding. Discussions around AI’s impact on monetary policy are ongoing, as Warsh emphasizes its significance. This scrutiny may influence market sentiment towards tech investments and monetary policy decisions, particularly among investors interested in innovative sectors.
Read More: The Fed's $3 Trillion AI Boom Watch and Economic Impact
WSJ Print Edition Highlights Upcoming Economic Events
The Wall Street Journal Print Edition reports on various economic events scheduled for the upcoming weeks. Key topics include employment data and inflation reports, which are essential for understanding market trends. The Federal Reserve's actions and policy decisions will be closely analyzed by investors as they gauge the health of the economy. These events will impact market dynamics, influencing investment strategies and stock valuations.
Read More: WSJ Print Edition Highlights Upcoming Economic Events
International Supermarkets Provide Affordable Dinner Solutions
International supermarkets have been identified as a way to diversify dinner options without high costs. The article discusses various strategies these supermarkets employ to offer budget-friendly meals, contributing to household savings on food expenses. With rising prices in many markets, shoppers are increasingly looking for ways to manage their grocery costs effectively. This trend highlights the importance of supermarkets in providing affordable solutions for everyday meal preparations, which is significant for consumers aiming to maintain their budgets.
Read More: International Supermarkets Provide Affordable Dinner Solutions
Rising Risk of Financial Repression Impacting US Government Bonds
Concerns about financial repression are growing, suggesting increased pressure on US government bonds. This could impact investor returns and market stability if the trend continues. While specific numbers related to bond yields and investment volumes are not provided, this shift in strategy indicates a changing landscape for fixed income investments. The situation may influence the bond market, and by extension, other asset classes, as investors reassess their allocations. Understanding these dynamics is essential for ordinary investors monitoring their portfolios.
Read More: Rising Risk of Financial Repression Impacting US Government Bonds
Canada Tariffs Impact on Trade Relations and Markets
Canada's announcement of new tariffs could have significant implications for trade relations and market dynamics. The specifics of the tariffs and their economic impact are crucial for businesses and investors operating within affected sectors. Such policy changes often lead to fluctuations in trading volumes and investor confidence. Understanding these measures is essential for ordinary investors, as they may affect stock valuations and trade volumes in related industries.
Read More: Canada Tariffs Impact on Trade Relations and Markets
Iranian Trade Plunges 35% Amid U.S. Economic Pressure
Iran's trade volume decreased by 35% as the United States intensified economic pressure through sanctions. This notable decline reflects the ongoing challenges faced by Iran in the international trade landscape. The U.S. measures aim to restrict Iran's access to essential markets, which could further impact its economy. For investors, this situation may affect regional market stability and international trade narratives surrounding Iranian commodities.
Read More: Iranian Trade Plunges 35% Amid U.S. Economic Pressure