Finance Affairs Adviser Dr. Salehuddin Ahmed on Sunday said the government has taken necessary steps to engage with the United States authorities over the new tariffs imposed by Washington. Speaking to journalists at the Secretariat, he said, “The impact of the new US tariffs on the economy will not be difficult to manage. The government is hopeful that a positive outcome will emerge from the discussions.” Dr. Salehuddin also noted that commodity prices were found stable during Ramadan and Eid-ul-Fitr, bringing some sort of relief to the public. Finance Adviser assures rational budget for 2025-26 prioritising local needs “This year, people had a good Eid. In March alone, the country received $3 billion in remittances, which helped boost the foreign exchange reserves,” he added. The finance adviser said the country’s overall economic situation is showing signs of improvement, supported by the rising inflow of foreign currency. Tulsi Gabbard’s remarks won’t affect bilateral relations: Finance Adviser

China’s exports in December grew at a faster pace than expected, as factories rushed to fill orders to beat higher tariffs that U.S. President-elect Donald Trump has threatened to impose once he takes office. Exports rose 10.7% from a year earlier. Economists had forecast they would grow about 7%. Imports rose 1% year-on-year. Analysts had expected imports to shrink about 1.5%. Trump has pledged to raise tariffs on Chinese goods and close some loopholes that exporters now use to sell their products more cheaply in the U.S. If enacted, his plans would likely raise prices in America and squeeze sales and profit margins for Chinese exporters. With exports outpacing imports, China's trade surplus grew to $104.84 billion. China's exports are likely to remain strong in the near-term, said Zichun Huang of Capital Economics, as businesses try to “front-run” potentially higher tariffs. Read: Asian shares decline amid concerns over rate cuts and tariffs “Outbound shipments are likely to stay resilient in the near-term, supported by further gains in global market share thanks to a weak real effective exchange rate," she wrote in a note. But exports will likely weaken later in the year if Trump follows through on his threat to impose tariffs, Huang said.

China cut tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts Thursday in a trade truce with Washington while Beijing struggles with a costly virus outbreak.