The 12-month inflation rate at 2.4%, down from 2.8% in February, was largely fueled by a sharp fall in gas prices

The price of eggs continues to soar for American consumers, rising by almost 6% in March even as overall inflation fell slightly.

Breaking a record high for the third consecutive month, the average cost of a dozen large eggs hit $6.23 in March – more than double the price just 12-months earlier, according to new figures released by the Bureau of Labor Statistics on Thursday. This surpassed the previous record highs of $5.90 a dozen in February, and $4.95 in January.

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Ursula von der Leyen says EU “want to give negotiations a chance”, by pausing countermeasures for 90 days

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• US-China trade war intensifies as Beijing’s tariffs come into effect after Trump pause

China and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.

In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said.

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As China retaliates against tariffs, it is also making strategic manoeuvres on EU and Asia to maximise opportunities

On the basis of Napoleon’s dictum “never interrupt your enemy while they are making a mistake”, there was a large incentive for China to do precisely nothing as Donald Trump displayed his determination to lose friends and induce market panic. Indeed, the Chinese advocates of passivity cited a social media meme attributed to President Xi Xinping: “Do nothing. Win.”

Initially it was tempting for China to sit back and watch the US’s former allies recoil at Trump’s disruptive war on globalisation and let them realise that,by comparison, China represented an oasis of stability, modernity and predictability.

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