Federal Reserve Chair Jerome Powell on Thursday responded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus, saying the project was large in scope and involved a number of safety upgrades and hazardous materials removals. "As explained on the Board's public website, we take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people," Powell wrote in his letter to Office of Management and...
President Donald Trump says he will not offer any extension to the new Aug. 1 deadline for imposing higher tariffs on many goods imported into the U.S. "Tariffs Will Begin Be Paid On August 1, 2025. There has been no change to this date, and there will be no change," Trump wrote on his Truth Social platform on Tuesday. "In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted." Trump began notifying trading partners of the new tariffs on Monday ahead of a deadline originally this week for countries to conclude trade negotiations with his...
China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains. Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente. On Monday, President Donald Trump began notifying trade partners of sharply higher U.S. tariffs from...
The 17th annual BRICS meeting in Rio de Janeiro lasted for two days and officially closed yesterday. Attended by representatives from 11 full member countries, this meeting confirmed BRICS' position as a new geopolitical power that dares to challenge the dominance of Western global institutions and pressure from the United States, especially under the leadership of Donald Trump. This year's meeting is an important moment for BRICS with the presence of Indonesia as a full member, along with Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. BRICS...
President Donald Trump announced the first in a series of letters threatening higher tariffs on major trading partners, including 25% tariffs on goods from Japan and South Korea, and signed an executive order delaying the new duties until Aug. 1. Trump also announced 25% tariffs on Malaysia, Kazakhstan and Tunisia, while South Africa will face 30% tariffs and Laos and Myanmar will face 40% tariffs. Other countries hit with tariffs include Indonesia with 32% tariffs, Bangladesh with 35% tariffs, and Thailand and Cambodia with 36% tariffs. Bosnia received 30% tariffs, while Serbia faced 35%...
President Donald Trump announced 25% tariffs on goods from Japan and South Korea starting Aug. 1, as he moves to impose unilateral tariffs on countries that have not reached trade deals with his administration. The two Asian countries were the first announcements in what the president promised would be a series of trade demands and deals announced Monday. Trump's hasty efforts to overhaul U.S. trade policy in his second term have been a source of persistent uncertainty for markets, central bankers and executives trying to gauge the impact on production, inventories, hiring, inflation and...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...