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The trade ministers of the Group of Seven leading industrialised nations Wednesday criticised "economic coercion" by powers placing arbitrary restrictions on exports, particularly critical minerals, in a clear swipe at China.

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Vacuum cleaners and vapes could get more expensive if the Iran war drags on for much longer, Chinese factory owners and traders warn, as the world's manufacturing hub reels from "crazy" costs.

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US President Donald Trump on Thursday ordered new tariffs on certain medicines, alongside an overhaul of metal duties, doubling down on his trade agenda a year after unleashing trade wars on virtually all partners.