Indonesia's chief economic minister Airlangga Hartarto said Monday that a 19% tariff on Indonesian goods entering the United States could be implemented earlier than the August 1 deadline set by U.S. President Donald Trump. Airlangga noted that the timing of the tariff implementation depends on a joint statement expected soon between the two countries. The United States and Indonesia reached a trade deal last week that resulted in a reduction of the initially proposed U.S. tariff rate from 32% to 19%. Source: Investing.com
U.S. President Donald Trump said on Tuesday that it would cost Canada $61 billion to be part of his proposed "Golden Dome" missile defense system, but that it would be free if the country became the 51st U.S. state. "I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation, but will cost ZERO DOLLARS if they become our cherished 51st State," Trump said in a post on Truth.social, claiming that Canada was "considering the offer." Trump's comment comes after Canadian Prime Minister...
New York Federal Reserve President John Williams said on Wednesday central banks must "respond relatively strongly" when inflation begins to deviate from their target. Given high uncertainty around the economic impact of U.S. tariffs and trade policy, central banks should focus on avoiding taking steps where the "cost of getting it wrong far outweighs the benefits," rather than aiming for the perfect solution to the problem, he said. Among the costly risks central banks must avoid are to allow inflation expectations to deviate from their targets, Williams said in a fireside chat with BOJ...
The US dollar (USD) regained some ground and managed to shake off two consecutive daily retracements on Tuesday (5/27), as US investors returned to their desks after the Memorial Day holiday on Monday. Meanwhile, traders focused on the trade front as well as the Senate debate on Trump's sweeping tax bill. Here's what to watch for Wednesday, May 28: The US Dollar Index (DXY) bounced off a multi-week trough on Tuesday, rising to a two-day high near 99.60 amid a decline in US yields across the curve. The release of the FOMC Minutes from the May 7 meeting will be the key event, followed by the...
"I am very pleased with the 50% tariff allocation on the European Union, especially since they have been slow (to put it mildly!), in our negotiations with them," US President Donald Trump said in a post published on Truth Social on Tuesday. "I was just informed that the EU has asked for an immediate date for a meeting. This is a positive event, and I hope that they will finally, as I have asked China, open up European Countries to Trade with the United States," Trump added. The comments failed to spark a noticeable reaction in the US Dollar (USD). At the time of writing, the USD Index was...
Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic are set to hold another round of talks in early June on the sidelines of a WTO meeting in Paris, according to the Global Times. "The two sides will conduct in-depth exchanges on the important topic of China-EU economic and trade cooperation," a source said, adding the talks will help prepare for future high-level exchanges. This meeting marks the third between the two in 2025, reflecting a notable increase in China-EU engagement amid global trade uncertainty. Recent initiatives include the China-EU Working Group...
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...