China’s exports grew 2.5% in March in a sharp slowdown as Iran war raises uncertainty

HONG KONG (AP) — China’s exports grew 2.5% in March from a year ago, significantly slowing from the previous two months as uncertainties rose from the Iran war and its impact on energy prices and global demand. The March export data released by China’s customs agency Tuesday missed analysts’ estimates and was sharply down from the 21.8% export growth recorded for January and February. Imports last month surged 27.8%, up from the 19.8% year-on-year increase in the first two months of this year. Technology-related exports, including a jump in semiconductor shipments from China on the global AI boom, have powered its robust exports, but economists say impacts from the prolonged Iran war could affect overall global demand this year.

Pakistan proposes second round of US-Iran talks as standoff deepens

ISLAMABAD (AP) — The standoff between the United States and Iran deepened as the U.S. declared it had blockaded Iran’s ports. Tehran threatened to strike targets across the region, and Pakistan said it was racing to bring the sides together for more talks. Though last week’s ceasefire appeared to hold, the showdown over the Strait of Hormuz risked reigniting hostilities. Meanwhile in Washington, direct talks between Israel and Lebanon were set to begin. They would be the first such negotiations in decades. Talks aimed at permanently ending the conflict in Iran failed to produce an agreement last weekend. Pakistan has proposed hosting a second round in the coming days.

Citing fallout from the Iran war, IMF cuts the outlook for global growth, expects higher inflation

WASHINGTON (AP) — The Iran war has stalled the world’s economic momentum this year, likely pushing growth lower compared to 2025, the International Monetary Fund warned Tuesday. The IMF downgraded its forecast for global growth to 3.1% in 2026 from the 3.3% it had forecast back in January. The expected growth would mark a deceleration from a 3.4% expansion in 2025. Citing higher energy prices caused by the war, the IMF marked up its expectation for global inflation this year to 4.4% from 4.1% in 2025 and from the 3.8% it had forecast for this year in January.

US wholesale prices surged 4% last month after the war in Iran sent energy prices soaring

WASHINGTON (AP) — U.S. wholesale prices surged last month as the Iran war drove up the cost of energy. The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.5% from February and 4% from March 2025. Energy prices surged 8.5% from February. Excluding volatile food and energy prices, so-called core producer prices rose a modest 0.1% from February and 3.8% from a year earlier. The gains in wholesale prices were smaller than economists had forecast.

Wall Street rises toward the edge of its all-time high as oil prices ease

NEW YORK (AP) — The U.S. stock market is nearing its all-time high, and oil prices are easing as hopes rise that the United States and Iran may try again on talks to end their war. The S&P 500 added 1% Tuesday to its rally from the day before and is just 0.4% below its record. The Dow Jones Industrial Average rose 313 points, and the Nasdaq composite climbed 1.6%. Treasury yields ticked lower in the bond market after a report showed that inflation at the U.S. wholesale level accelerated last month, but not by as much as economists expected.

Pittsburgh Post-Gazette announces it has found a buyer to keep the newspaper open

NEW YORK (AP) — Owners of the Pittsburgh Post-Gazette said they have found a buyer who had agreed to keep the newspaper open, less than a month before it was due to shut down. Block Communications said that the Venetoulis Institute for Local Journalism, publisher of the digital-only Baltimore Banner, had agreed to buy the Post-Gazette. The newspaper dates its history to 1786, and if it had been closed, it would have left Pittsburgh as the nation’s largest community without a city-based newspaper. Terms of the deal were not closed. The Post-Gazette said it would continue to publish print editions on Thursday and Sunday.

How a US blockade near the Strait of Hormuz could work and the impact ahead for the global economy

A blockade of Iranian ports that President Donald Trump said began Monday could further disrupt oil prices. It also is spurring questions about international law and leaves doubts about whether the pressure tactic will force Tehran to reopen the vital Strait of Hormuz. Trump threatened to impose the blockade after talks to further a fragile ceasefire ended without a deal this past weekend. Experts say enforcing the blockade is likely to demand significant resources from the U.S. Navy and could prompt concerns about military force and international law. Supply chain restrictions alsp could undermine the flow of oil, fertilizer, food and other goods to consumers already facing higher prices.

Trump promised tax relief, but polling shows most Americans still think they're overpaying

WASHINGTON (AP) — Tax refunds are up this season, but polling shows that most Americans still think their taxes are too high, according to recent polls. The findings come after last year’s tax law fulfilled several of President Donald Trump’s tax-related campaign promises. A new Fox News poll indicates people are more upset about their tax bill than they were last year. The findings suggest that Americans are increasingly on edge about their personal finances as the U.S. experiences a spike in inflation and sluggish economic growth. Other polling, though, finds that frustration goes beyond personal tax obligations, with many believing that wealthy people and corporations are not paying their fair share.

War intensifies uncertainty for makers of the ultimate in bling, luxury watches

GENEVA (AP) — The annual luxury watch fair “Watches and Wonders” opens this week in Switzerland, with the Iran war casting new doubt over an industry that had hoped to rebound from tariff turmoil and a contracting market over the last two years. The war that began Feb. 28 has had sweeping impacts across the world economy, driving up energy prices, stalling shipments of fertilizer and disrupting air travel, among other things. High-end watches have not been spared. Swiss-made watches represent about 96% percent of the global luxury watch market, or those that retail for at least 2,000 francs each (more than $2,200).

Tesla leader believes Shanghai factory operations will play a role in robot mass production

SHANGHAI (AP) — A Tesla leader says he believes its Shanghai factory operations will help resolve the challenges in achieving mass production of the company’s humanoid robots. The comments Tuesday by Tesla Inc. Vice President Wang Hao come as the U.S. electric vehicle giant pivots to robotics. Wang says the Shanghai facilities will be like other Tesla factories by contributing after they enter an era of robots. But Wang did not specify how the Shanghai arm will support robot production. Tesla CEO Elon Musk has urged a concentration on AI and robotics and a reduced focus on car sales. Tesla earlier decided to convert a California factory to produce its Optimus robots.