Notable economic news and events from the past week include the reopening of the U.S. government, a U.S.–Switzerland tariff-cut agreement, and President Donald Trump’s executive order exempting a range of imported agricultural products from tariffs…
Below are the key global economic developments for the week of November 9–15, 2025, summarized by VnEconomy:
U.S. government reopens after the longest shutdown in history
On November 12, the U.S. government officially resumed operations after a 43-day shutdown—the longest in history—after the House of Representatives passed the spending bill previously approved by the Senate on November 10. President Donald Trump signed the bill into law later that evening. More than 670,000 furloughed federal employees will return to work, while those who continued working during the shutdown will receive full back pay.
U.S. and Switzerland reach framework trade agreement
On November 14, the U.S. and Switzerland announced a framework for a “fair, balanced, and reciprocal trade agreement.” Under the deal, the U.S. will reduce tariffs on Swiss goods from 39% to 15%, in exchange for Swiss companies committing to invest around 200 billion USD in the U.S. by 2028. Switzerland will also open its agricultural market to U.S. businesses and promote supply chain cooperation between the two countries.
Both sides aim to finalize the detailed agreement and commitments under the framework by early 2026.
U.S. exempts many agricultural imports from tariffs
On November 14, President Trump signed an executive order exempting retaliatory tariffs on several imported agricultural products such as coffee, cocoa, bananas, beef, and several types of fertilizers. These are mainly goods the U.S. does not produce or does not produce sufficiently.
The move comes as grocery prices rose 2.7% year-over-year in September, with ground beef up nearly 14% and steak up 17%. Previously, on September 5, Trump also exempted 45 categories of goods—such as gold, nickel, and chemicals—from retaliatory tariffs for similar reasons.
President Trump proposes extending mortgage terms to 50 years
President Trump has proposed extending the maximum term of U.S. home mortgages from the current 30 years to 50 years. The idea aims to address the housing affordability crisis facing millions of Americans but has sparked significant debate.
China steps up efforts to ease tensions with the U.S.
On November 10, China’s Ministry of Commerce, along with four other government agencies, added 13 chemicals—including precursors to fentanyl—to the list requiring export licenses for shipments to the U.S., Mexico, and Canada.
The move is seen as part of Beijing’s efforts to implement agreements reached during the late-October summit between President Xi Jinping and President Trump in South Korea.
Following the summit, China also resumed purchases of U.S. soybeans after a period of suspension. However, Bloomberg sources say the imports have slowed again, with no new shipments reported.
President Trump threatens to sue the BBC
On November 10, President Trump’s legal team sent a letter to the BBC accusing it of distorting his January 6, 2021 speech in a program aired ahead of the 2024 election. The team demanded that the BBC remove the episode, issue a public apology, and pay at least 1 billion USD in damages or face a defamation lawsuit.
The BBC admitted the edit was a “misjudgment” and sent a direct apology to the President, pledging not to rebroadcast the episode. However, the broadcaster rejected the compensation demand, arguing there is no legal basis for a defamation claim.
China discovers massive gold deposit
China has discovered its largest gold deposit in more than 70 years in Liaoning Province, with an estimated reserve of over 1,440 tonnes. According to China’s Ministry of Natural Resources, the deposit is valued at nearly 193 billion USD at current prices.
Warren Buffett releases his final letter to Berkshire Hathaway shareholders
On November 10, billionaire Warren Buffett published his final annual letter as CEO of Berkshire Hathaway, announcing he will step down at the end of the year. Starting in 2026, Greg Abel will take over writing the shareholder letter and leading the annual meeting. At age 95, Buffett said he remains healthy enough to work five days a week at the office but acknowledged that time is limited and he wants to accelerate his philanthropic activities.
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