Japanese car giant Honda made its first annual loss in 70 years as its investments in the electric vehicle (EV) market failed to pay off. Demand for EVs has not been as strong as the company forecast, with Honda reporting a total operating loss for the year ending March 2026 of ¥423bn ($2.68bn: £1.99bn.). The firm said it was scrapping some of its EV production targets and would source parts from China, where prices are lower, to keep costs down. It cited changes in US policy as adding to its losses, including tax incentives having been taken away for US consumers purchasing EVs, and the imposition of tariffs. US consumers could previously receive up to $7,500 (£5,500) in tax credits if they purchased a new EV, but this was scrapped by President Donald Trump in September 2025.

US President Donald Trump will meet Chinese President Xi Jinping in Beijing on May 14 and 15, following weeks of delays due to the US-Israel war on Iran. The talks are expected to focus on trade relations and mark the first time a US president has visited China in nearly a decade. In recent decades, the US and China have emerged as the world's dominant superpowers, frequently seen as locked in a contest for who sits atop the world order. A quarter of a century ago, by contrast, the US dwarfed China in most major indicators, but today, Beijing is regarded as the factory of the world and is outpacing its Western counterpart in many regards. Who is the world's top trading power?

When China's leader Xi Jinping hosts his American counterpart in Beijing this week, Donald Trump will be reminded of his last visit in 2017 - he was wooed hard, complete with dinner inside the Forbidden City, an honour no US president before him had received. This week's reception promises to be just as grand, including a stop inside Zhongnanhai, the rarefied compound where China's top leadership lives and works. The agenda too will be just as thorny, with Iran being a new source of tension, alongside trade, technology and Taiwan. But a lot has changed as Trump returns to a stronger and far more assertive China. Now well into an unprecedented third term, an ambitious Xi has been pushing forward with plans for new productive forces with heavy investments in renewable energy, robotics and artificial intelligence.

Canada's Carney has enjoyed a long political honeymoon. Mark Carney arrived on Canada's political scene last year as an Ivy League and Oxford educated economist and a former central banker for two countries. He had an impressive resume and ambitions to be prime minister but had never run for public office until replacing Justin Trudeau as Liberal leader. There was concern his lack of political experience would be a liability, but under his leadership, the Liberals won a minority government, which in a year had solidified into a narrow majority following the defection of five opposition members of parliament to his party. Carney tore up the rulebook, jumping from political neophyte to leading a G7 nation, and he is enjoying a lengthy honeymoon both in Canada and around the world as a globetrotting prime minister.

The United States trade deficit has widened sharply in December amid a surge in imports, and the goods shortfall in 2025 was the highest on record despite US President Donald Trump's tariffs on foreign-manufactured merchandise. The second straight monthly deterioration in the trade deficit reported by the US Commerce Department on Thursday suggested that trade made little or no contribution to gross domestic product (GDP) in the fourth quarter. The US deficit in the trade of goods widened 2 percent to a record $1.24 trillion last year as American companies boosted imports of computer chips and other tech goods from Taiwan to support massive investments in artificial intelligence. Amid continuing tensions with Beijing, the deficit in the goods trade with China plunged nearly 32 percent to $202bn in 2025 on a sharp drop in both exports to and imports from the world's second-biggest economy. But trade was diverted away from China.

The US economy is growing - so where are all the jobs? When 42-year-old Jacob Trigg lost his job as a project manager in the tech industry he didn't think it would take too long to find a new one - he always had before. But more than 2,000 job applications later he is still hunting, trying to make ends meet with jobs in package delivery and landscaping. It's a huge surprise because I've always been able to get a job very easily, said Trigg, who lives in Texas. It wasn't even on my radar to be prepared for more than six months of unemployment.

What is the Insurrection Act? Why is the US Fed chair criminal probe causing alarm? Which 75 countries are on Trump's travel ban list? The US economy seems strong after a year of Trump, but is it really? Over the past year, United States President Donald Trump has unleashed a slew of policies that have upended businesses, supply chains and jobs.

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Apple's Siri AI will be powered by Gemini The White House names AMD MI325X and NVIDIA H200, in particular. Nvidia founder and CEO Jensen Huang speaks about the Vera Rubin AI platform during a question and answer session with reporters at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. President Trump has signed a proclamation imposing a 25 percent tariff on "certain advanced computing chips," the White House has announced. As notes, the administration previously threatened much bigger and broader tariffs for chips. Trump even said that he was going to impose a 100 percent tariff on companies unless they invest on semiconductor manufacturing in the United States.

President Trump signed a proclamation on Wednesday to impose a 25 percent tariff on a narrow list of foreign semiconductors, providing a way for the government to earn revenue off the sale of lucrative chips used in artificial intelligence. The tariff, which would take effect Thursday, is far more limited than what the president initially threatened. Last year, the administration began an investigation aimed at encouraging tech companies and chip makers to buy semiconductors made in America. But instead of approving sweeping tariffs that would affect the industry, Wednesday's announcement showed the administration has settled for narrower levies that allow it to take a cut of artificial intelligence chips sold to China. A document released by the White House said a 25 percent tariff would be put on A.I. chips made by companies like Nvidia and AMD that are imported into the United States and then re-exported to other countries. The tariff would not apply to semiconductors that are brought into the country to be used domestically in data centers or in products for American consumers, industry or the government.