Indonesia's chief economic minister Airlangga Hartarto said Monday that a 19% tariff on Indonesian goods entering the United States could be implemented earlier than the August 1 deadline set by U.S. President Donald Trump. Airlangga noted that the timing of the tariff implementation depends on a joint statement expected soon between the two countries. The United States and Indonesia reached a trade deal last week that resulted in a reduction of the initially proposed U.S. tariff rate from 32% to 19%. Source: Investing.com
The US House of Representatives is set to begin voting on a Republican tax and budget bill that largely contains many of President Donald Trump's wish list items. President Trump has informally referred to the tax and budget bill as his "big, beautiful bill," prompting Republican lawmakers to officially rename the document the "One Big Beautiful Bill Act." Key Republicans have been pushing back against the bill's opponents within their own party after some hardline Republicans voiced their displeasure with the broad outlines of the bill: some feel it doesn't include enough cuts to key...
President Donald Trump's tax cut and spending bill faces a critical stress test on Wednesday as Republicans in the U.S. House of Representatives try to overcome internal divisions about cuts to the Medicaid health program and tax breaks in high-cost coastal states. The gate-keeping House Rules Committee has scheduled an unusual 1 a.m. ET (0500 GMT) hearing that is expected to run well into daylight hours where members will debate details of the measure. If passed by Congress, it would reduce some health and food benefits for low-income Americans, cancel green-energy programs and provide...
British inflation jumped to a higher-than-expected annual rate of 3.5% in April from 2.6% in March, official figures showed on Wednesday. A Reuters poll of economists had pointed to a reading of 3.3% in April while the Bank of England earlier this month projected inflation of 3.4%. April saw increases in gas, electricity and water prices, alongside higher taxes on employers - all of which are likely to push up prices. Earlier this month the BoE predicted that inflation would peak at 3.5% this year. Some officials at the central bank disagree with its key assumption that the climb in...
China's Commerce Ministry said early Wednesday that US measures on China's advanced chips are ‘typical of unilateral bullying and protectionism.' Chinese authorities urged the US to immediately correct its erroneous practices. US measures on China's advanced chips are ‘typical of unilateral bullying and protectionism.' US chip measures seriously undermine the stability of the global semiconductor industry chain and supply chain. US abuses export controls to contain and suppress China, violating international law and basic norms. Suspects that US measures constitute discriminatory,...
President Donald Trump outlined plans for a new defense system dubbed "Golden Dome," highlighting advanced technology, international interest and a projected cost of $175 billion. Key Quotes Made announcement about the Golden Dome defense shield. Selected architecture for the Golden Dome. Will include space-based interceptors. Canada says it wants to be part of it. Gold Dome should be operational by the end of my term. We're helping Israel with their system. Our technology is more advanced than Israel's. Bill in Congress to include $25 billion for the Golden Dome. Talks...
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...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the...