US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last October. This move aims to ease trade tensions between the world's two largest economies. Trump also announced a freeze on reciprocal tariffs imposed on Chinese goods. This freeze will remain in effect, providing some relief to companies engaged in international trade with China. This policy is expected to help ease trade tensions that have persisted for the past few years. This tariff cut will...
Iran called on U.S. President Donald Trump on Monday to force Israel to cease fire as the only way to end the four-day-old aerial war, while Israeli Prime Minister Benjamin Netanyahu said his country was on the "path to victory". Israeli forces stepped up their bombardment of Iranian cities, while Iran proved capable of piercing Israeli air defences with one of its most successful volleys yet of retaliatory missile strikes. "If President Trump is genuine about diplomacy and interested in stopping this war, next steps are consequential," Iran's Foreign Minister Abbas Araqchi said on...
European Union Council President Antonio Costa called for a "constructive position" with the United States on trade tariffs to prevent a trade war, speaking on Monday ahead of a G7 meeting in Canada. Costa emphasized that if the EU faced discriminatory measures, it would need to respond, noting that "the European Commission is prepared to respond, particularly in trade matters." "We have to keep nerves of steel. I have great hope that, in the end, some line of rationality will guide political action... as no tariff will increase U.S. exports of goods or services to Europe," Costa said in a...
Iran launched a new attack on Israel on Sunday night, with explosions seen in the coastal city of Haifa. Israel began further attacks on military targets in Iran, despite international calls for diplomacy and de-escalation, according to CNN. Local officials in both countries reported at least 224 deaths in Iran and 14 in Israel, while Iran's Health Ministry said at least 1,277 people have been injured since Israel launched a wave of attacks on Friday. In addition, Iran's semi-official Mehr News reported on Sunday that the fourth phase of Iran's operations against Israel had begun. Iranian...
US President Donald Trump said on Sunday that the United States will continue to support Israel, adding that he hopes there will be a deal between Iran and Israel but that they have to fight. Trump opposed Israel's plan to assassinate Iran's Supreme Leader Ayatollah Ali Khamenei as the US president preferred to keep the US out of the fray for now. Key quotes Says he hopes there will be a deal between Iran and Israel, but sometimes you have to fight. Says he would not say whether he has asked Israel to stop attacks on Iran. Says the US will continue to support Israel in its...
The University of Michigan's preliminary consumer sentiment survey for June rose to 60.5 vs. 52.2 the previous month Median estimate 53.6; range 50.5 to 57.0 from 46 estimates Expectations index rose to 58.4 vs. 47.9 last month Current economic conditions index rose to 63.7 vs. 58.9 last month Median expected price change over the next year fell to 5.1% after 6.6% Largest one-month decline since 2001 Median expected price change over the next 5-10 years fell to 4.1% after 4.2%(alg) Source: Bloomberg
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
US President Donald Trump announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...