European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
The recent data on tariffs and consumer decision-making is clear: raise prices on a product due to higher import taxes, and consumers will turn to a cheaper alternative. That doesn't bode well for certain U.S. products, and the states where they are produced, as the U.S. and EU engage in tit-for-tat tariff threats. Think California almonds, Tennessee whiskey, and rearview mirrors from Michigan. From 2017-2019, Tennessee whiskey exports to the European Union dropped from $362 million to $220 million amid President Donald Trump's first term trade war, and exports remained low until the...
After flubbing his planned doubling of tariffs on Canada, which saw Canada poised to lash back with stiff increases in the cost of energy exported from the province of Ontario to the US, US President Donald Trump is shifting his tariff focus to the European Union, but maintaining the same playbook. Donald Trump's brief standoff against Canada saw the US's neighbor to the north make zero concessions. Canada is now on pace to impose a strategic package of tariffs against key US goods in retaliation for the US's steel and import tariffs that went into effect this week, and trade terms under...
The Producer Price Index (PPI) for final demand in the US rose 3.2% on a yearly basis in February, the data published by the US Bureau of Labor Statistics showed on Thursday (13/3). This reading followed the 3.7% increase recorded in January and came in below the market expectation of 3.3%. The annual core PPI rose 3.4% in the same period, down from 3.8% in January. On a monthly basis, the PPI was unchanged, while the core PPI declined by 0.1%.(Newsmaker23) Sumber: FXstreet
The number of Americans filing for unemployment benefits fell to 220,000 in the week ended March 9, 2025. That's down from the Labor Department's estimate of 226,000 on Thursday. Source: Newsmaker23
US President Donald Trump said Thursday (3/13) that he would impose 200% wine tariffs on all wine and other alcoholic products originating from EU countries if the bloc does not remove its tariffs on whiskey. "The European Union, one of the most hostile and abusive tax and tariff authorities in the World, created for the sole purpose of taking advantage of the United States, has just imposed a nasty 50% Tariff on Whiskey," Trump wrote in a post on Truth Social. "If this Tariff is not removed immediately, the US will soon impose a 200% Tariff on all WINE, CHAMPAGNE, & ALCOHOLIC PRODUCTS...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...