U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported on Tuesday, citing a U.S. official and an EU diplomat. Trump made the request during a conference call with EU sanctions envoy David O'Sullivan and other officials, according to the report. Washington signaled it would impose similar duties if Brussels joined the effort, the report said. Both China and India are major buyers of Russian crude and remain key to keeping Moscow's economy afloat as...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have fired during Russia's war in Ukraine. Polish Prime Minister Donald Tusk told parliament that this was "the closest open conflict we have faced since World War II," although he also said he had "no reason to believe we are on the brink of war." Moscow denied responsibility for the incident. European leaders, who have recently been trying to persuade US President Donald Trump to join them in...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in July, the U.S. Bureau of Labor Statistics (BLS) reported on Wednesday. This figure was lower than market expectations of 3.3%. The United States will release its August Producer Price Index (PPI) on Wednesday. The report, compiled by the Bureau of Labor Statistics (BLS), will be released one day before the Consumer Price Index (CPI) for the same month, scheduled for Thursday. Both indexes measure inflation, with the CPI focusing on the total...