Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the war-ravaged nation. Sirens sounded for more than six hours as Russia fired drones, cruise- and ballistic missiles and the Kinzhal hypersonic missile, Ukraine's air defense force said Monday on Telegram. At least one person was killed in the capital, Kyiv, and another was hospitalized "with multiple wounds." Kyiv is shrouded in smoke from fires in several districts, including an apartment...
The Trump administration is reportedly working to deliver on a final trade deal deadline set for Wednesday. A draft letter to various U.S. trading partners sets the deadline so close, Reuters reports, to try and push for faster trade talks as the U.S. scrambles to unveil a major trade deal the administration says is imminent. Trump's team is pushing for a deal to avoid its own tariffs Time is running out for the Trump team to secure, finalize and announce trade deals with other countries that support Donald Trump's "America First" campaign pledge. The White House has temporarily suspended...
A group of small businesses that won a ruling that most of President Donald Trump's global tariffs are illegal wants the tariffs blocked during the government's appeal, saying they are suffering direct harm from economic uncertainty. In a filing Monday with the U.S. Court of International Trade, which last week ruled that Trump exceeded his authority in imposing broad trade levies, the groups opposed the administration's request to keep the tariffs in place during its appeal. The appeals process is likely to drag on for months, so a pause would be a win for the White House. It's unclear...
The ISM Manufacturing PMI in the US fell to 48.5 in May 2025 from 48.7 in April, below market expectations of 49.5. The reading marked the third consecutive month of contraction in the manufacturing sector and the sharpest decline since November 2024, highlighting mounting economic uncertainty and sustained cost pressures, partly driven by volatile trade policies under the Trump administration. Output, new orders, employment, and backlog of orders all declined but at a slower pace, while new export sales dropped more sharply. Meanwhile, the Inventories Index slipped into contraction...
Trump said he would increase tariffs on Steel and Aluminium to 50% from 25%, effective 4 June. He made the announcement as he visited a US Steel Corp. plant on Friday. Later on, Trump said he would raise Aluminium rates in a Truth Social post, ING's commodity experts Ewa Manthey and Warren Patterson note. Trump says the tariffs are aimed at bolstering domestic production "The US imports significant volumes of Aluminium and Steel from Canada. It imports roughly half of its Aluminium needs from abroad, with Canada the biggest supplier, accounting for 58% of imports, followed by 6% from the...
China on Monday refuted Washington's claims that it had broken the Geneva trade agreement, instead accusing the U.S. for breaching deal terms, signaling talks between the worlds top two economies have taken a turn for the worse. Trade frictions between Washington and Beijing have flared up after a hiatus following a meeting between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart He Lifeng in Geneva, Switzerland, that had led them to suspend most tariffs for 90 days. The Trump administration has ratcheted up export restrictions on semiconductor design software and...
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...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the...