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,...
US President Donald Trump hit markets with yet another structural pivot on his tariff agenda, announcing some temporary exemptions for certain sectors, as well as getting his 25% tariffs against Mexico and Canada muddled up with his separate "reciprocal tariff" strategy that is currently slated to come into effect in April. While giving comments to reporters at the White House, President Trump meandered back and forth through several topics. Details on reciprocal tariffs remain almost entirely absent, other than the Trump administration's insistence that they are definitely happening next...
U.S. President Donald Trump on Thursday said Mexico won't be required to pay tariffs on any goods that fall under the United States-Mexico-Canada Agreement on trade until April 2, but made no mention of a reprieve for Canada despite his Commerce secretary saying a comparable exemption was likely. "After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement," Trump wrote on Truth Social. "This Agreement is until April 2nd." Earlier on Thursday, U.S. Commerce Secretary Howard Lutnick...
During her press conference, European Central Bank President Christine Lagarde outlined the ECB's decision to cut key interest rates by 25 basis points at the March policy meeting. She elaborated on the rationale behind the move, emphasizing its role in supporting economic stability. Lagarde also addressed questions from the media, providing insights into the ECB's outlook and future policy direction.ECB press conference key highlight. "Consumer confidence remains fragile"."Services are resilient"."Uncertainty is holding back investment"."Surveys suggest that employment growth is...
U.S. applications for unemployment benefits fell last week, returning to the stale level seen at the start of the year. Initial claims fell 21,000 to 221,000 in the week ended March 1. The median forecast in a Bloomberg survey of economists was for 233,000 applications.Continuing claims, a proxy for the number of people receiving benefits, rose to 1.9 million in the previous week, according to Labor Department data released Thursday. (Newsmaker) Source: Bloomberg
Bank of England Governor Andrew Bailey urged the United States on Wednesday to settle its concerns about the global economy through dialogue rather than the kind of import tariffs that U.S. President Donald Trump has imposed this week. Bailey, speaking to British lawmakers, said he had addressed the importance of open trade at a meeting of Group of 20 central bankers and finance ministers last week in South Africa that was not attended by new U.S. Treasury Secretary Scott Bessent. "If you think the world economy is somehow out of balance, the place to address those balances is in a...
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...