The White House update to its tariff schedule is a "welcome development" after challenges caused by a recent U.S. Customs ruling on gold bars, the London Bullion Market Association said on Wednesday. The executive order, issued on September 5 by President Donald Trump, updates the tariff schedule for certain goods, including key gold products. The White House referred to them as reciprocal tariffs. Under the update, gold bars imported from "aligned partner" countries under certain codes of the Harmonized Tariff Schedule of the United States - including 7108.11.00, 7108.12.50, 7108.13.10,...
U.S. President Donald Trump claimed on Monday that he "knows exactly" what he's doing regarding the Russia-Ukraine conflict, while criticizing those who question his approach. In a post on Truth Social, Trump asserted he had "settled 6 Wars in 6 months, one of them a possible Nuclear disaster," and said that the the ongoing war as "Sleepy Joe Biden's war, not mine," adding that he was "only here to stop it, not to prosecute it any further." He again insisted the conflict "would have NEVER happened" during his administration. The president dismissed critics, particularly mentioning the Wall...
US President Donald Trump urged Ukraine to give up on hopes of regaining annexed Crimea or joining NATO, as he prepared to host President Volodymyr Zelenskiy and European leaders in Washington on Monday to urge Kyiv to accept a peace deal with Russia. After rolling out the red carpet for Russian President Vladimir Putin in Alaska on Friday, Trump urged Ukraine to accept a deal to end Europe's deadliest war in 80 years, which has killed tens of thousands of people and displaced millions. Trump will meet first with Zelenskiy and then with the leaders of Britain, Germany, France, Italy,...
The Trump administration has expanded its 50% tariffs on steel and aluminum imports to cover hundreds of additional products. In a Federal Register notice on Friday, the Commerce Department's Bureau of Industry and Security said 407 new product codes were being added to the U.S. Harmonized Tariff Schedule, making them subject to duties on their steel and aluminum content. The notice clarified that non-steel and non-aluminum components will still face tariff rates already imposed on goods from certain countries. The expanded levies will take effect today, August 18. President Trump told...
Talks on a proposed U.S.-India trade deal have been delayed after a planned visit by American negotiators to New Delhi on August 25–29 was called off, Reuters reported. The move dashed hopes of easing fresh U.S. tariffs on Indian goods set to take effect August 27. The U.S. embassy reportedly said it had no further details, noting that talks are led by the U.S. Trade Representative (USTR). Earlier this month, President Trump imposed an extra 25% tariff on Indian goods over New Delhi's continued imports of Russian oil, pushing some duties to as high as 50%—among the steepest on any U.S....
US consumer sentiment fell to 58.6 in August from 61.7—the first decline since April. The University of Michigan survey was conducted July 29–August 11, with tariff concerns again weighing on confidence. Full-year inflation expectations rose to 4.9%, while the 5–10-year forecast was 3.9%. Both were worse than economists' forecasts. Job concerns also increased: 62% of respondents predicted unemployment would rise. 58% planned to cut back on spending (cars, household goods, dining out), and durable goods purchasing conditions fell to their lowest in a year. Meanwhile, retail sales continued...
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...
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...