Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
The European Union announced on Sunday that it will extend its suspension of countermeasures to U.S. tariffs until early August, aiming to pursue a negotiated settlement. This comes after President Trump on Saturday warned of a 30% tariff on most imports from the EU and Mexico starting August 1, pressuring countries to agree on new trade frameworks within weeks. White House economic adviser Kevin Hassett stressed, "the tariffs are real" unless better deals are made, saying Trump "sent these letters out to folks" to mark a clear stance. EU Commission President Ursula von der Leyen...
U.S. tariffs take center stage but China and the EU are quietly clashiThe U.S. tariff saga has stolen global spotlight from trade tensions between China and the European Union, which are now heating up. Accusations and investigations over each other's trade practices have long been a staple of EU-China trade relations, underpinned by concerns over how domestic economies are likely to be impacted by competing imports. In recent weeks, EU restrictions on Chinese companies taking part in public tenders for medical devices were quickly met with China imposing import curbs on such products....
The pharmaceutical industry is scrambling with scenario planning as U.S. President Donald Trump's 200% tariff proposal threatens to drive up drug prices and rip out corporate profit margins. The president once again warned on Tuesday that long-awaited industry-wide tariffs would be announced "very soon" after the administration launched a so-called 232 investigation into the sector in April. Trump suggested that those levies would not go into effect immediately, but get a grace period of "about a year, year and a half to come in." Analysts nevertheless warn that such a rate — even with a...
U.S. President Donald Trump announced on Thursday that he will impose a 35% tariff on imports from Canada starting August 1, warning that it could rise further if Canada retaliates. In a letter to Canadian Prime Minister Mark Carney, released on his social media platform, Trump also signaled plans to apply blanket tariffs of 15% to 20% on most other trade partners. The move is part of a broader escalation in his trade war, with new tariffs already targeting allies such as Japan and South Korea, as well as a 50% levy on copper. In an interview with NBC News, Trump said not all countries...
Federal Reserve Board of Governors (Fed) member Christopher Waller reiterated his argument for why the Fed should cut interest rates earlier in July. In a speech at the Dallas Fed, Waller noted that the inflationary impact of tariffs would likely be short-lived and stated that a rate cut would not be politically motivated. Fed Governor Waller is one of the favorites to replace Fed Chairman Jerome Powell in 2026. Key Highlights Tariffs raise prices once, and the central bank can anticipate that. The impact of tariffs is not zero, but it is also not large. Waller argued that a moderately...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...