Author: Grace Johnson

The United States has ended a long-standing tariff exemption that supported global trade in low-cost goods. From Friday, imports worth $800 or less will no longer enter duty-free and will face stricter customs checks. The change will impact millions of packages daily. In 2023, nearly 1.4 billion parcels entered the US duty-free under the de minimis exemption, worth more than $64bn. Experts warn the shift will hit small businesses hardest. Shoppers should prepare for higher prices and fewer choices until markets adjust. “I’ve reached the point of acceptance, but when I first heard the news, I thought it might be…

Nvidia continues to thrive as demand for artificial intelligence technology grows, despite mounting political challenges between Washington and Beijing. On Wednesday, the chip designer reported revenue of $46.7bn (£34.6bn) for the second quarter, marking a 56% surge from the same period in 2024. Shares fell in after-hours trading, however, after the firm admitted it was still “working through geopolitical issues”. The company remains caught in a trade dispute between the United States and China. The Trump administration’s fast-changing policies, designed to keep America ahead in artificial intelligence, add further uncertainty to Nvidia’s path. The strength of the AI boom Nvidia’s…

South Korea has passed a law banning smartphones and other smart devices during school hours. The country joins a growing list of nations restricting young people’s phone use. The new rules come into effect in March 2026. Lawmakers from both major parties supported the measure. They say the goal is to fight smartphone addiction, which studies increasingly link to harmful effects. Lawmakers and parents push for change Supporters argue that phones disrupt learning and weaken academic performance. They also say children spend less time studying and focusing because of constant screen use. Parents complain their children lose valuable time scrolling…

US President Donald Trump has announced he will immediately remove Federal Reserve governor Lisa Cook from office. The move marks a sharp escalation in his power struggle with the central bank. Trump said there was “sufficient reason” to accuse Cook of making false statements on mortgage agreements. He cited constitutional powers that he claimed gave him the authority to dismiss her. Cook responded firmly, saying Trump had no power to remove her. She ruled out resigning. It is an unprecedented step for a president to seek the dismissal of a central bank governor. The move follows Trump’s growing pressure on…