The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
U.S. Trade Representative Jamieson Greer said on Tuesday that it was up to China whether the planned 100% tariffs on its exports would take effect on November 1 or sooner, noting it may be difficult for Beijing to find a way out. Speaking to CNBC, Greer confirmed that U.S. and Chinese officials held staff-level talks in Washington Monday and said there was still a chance to resolve the dispute over critical minerals restrictions. "We think we'll be able to work through it, but again, we can't have a situation where the Chinese keep this regime in place, where they want to have veto power...
U.S. President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October, U.S. Treasury Secretary Scott Bessent said, as both sides looked to ease tensions following fresh tariff threats and export controls. A return to an all-out trade war between the world's two largest economies appeared imminent late last week, after China announced on Thursday a major expansion of its rare earths export controls. Trump responded on Friday by threatening to raise tariffs on Chinese goods to triple-digits, sending markets and U.S.-China relations into a tailspin. But...
President Donald Trump arrived in the Egyptian resort of Sharm El-Sheikh on Monday for a summit with several other world leaders aimed at ensuring the US-led ceasefire deal for Gaza turns into a real peace deal. The leader flew in from Israel, where he addressed the country's parliament and was praised for last week's agreement that resulted in a weekend ceasefire in Gaza and the release of 20 surviving hostages held in the Palestinian territory. They were freed on Monday, as were nearly 2,000 Palestinians held in Israeli jails. "They played a very important role, and they had a very...
President Donald Trump's administration on Sunday signaled openness to a trade deal with China, even as tensions escalated over Beijing's new export controls. The gesture followed Trump's Friday announcement of a sweeping 100% tariff on all Chinese imports starting November 1, in retaliation for China's restrictions on rare earth exports. Vice-President J.D. Vance urged Beijing to "choose the path of reason," arguing Trump holds more leverage if the dispute drags on. Trump struck a conciliatory tone on Truth Social: "Don't worry about China, it will all be fine! Highly respected President...
US President Donald Trump hit markets with a fresh tariff threat on Friday, continuing his lashout at China over their decision to impose even stricter export licensing requirements on foreign entities trying to move critical rare earths minerals out of China. Donald Trump declared via social media post that he will be imposing a new 100% tariff on all exports bound for the US from China, as Trump's bespoke playbook of hammering his own constituents to punish foreign nations continues to play out. How the Trump administration will achieve a new import tariff remains to be solved by other...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...