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...
China's official NBS Non-Manufacturing PMI rose to 50.8 in March 2025, up from 50.4 in February, marking the highest reading in three months and exceeding market expectations of 50.5. The new orders index climbed to 46.6%, up 0.5 percentage points from the previous month, signaling a rebound in demand within the non-manufacturing sector. The input price index edged up to 48.6%, rising 0.2 points, indicating a slower decline in operating costs for non-manufacturing firms. Meanwhile, the sales price index fell to 46.7%, down 1.1 points, suggesting that overall sales prices continued to...
Japan's industrial production grew at the fastest clip in nearly a year, as manufacturers sought to meet strong demand before the US implements new tariffs on autos and auto parts. Factory output increased in February by 2.5% from January, the first advance in four months and marking the fastest gain since March last year, the Industry Ministry reported Monday. Economists had expected a 2.0% gain. Output rose 0.3% from a year ago, missing the consensus call of a 1.2% rise. The ministry also reported that retail sales increased 0.5% in February from...
The U.S. Federal Reserve's seemingly locked-in path to a soft landing, already roiled by the arrival of the Trump administration, may be growing even more complicated as evidence of consumer caution about spending starts to align with new inflation risks and another jump in inflation expectations. Consumer spending and inflation data for February accentuated the point, with spending near zero once adjusted for inflation and a key measure of inflation itself increasing. "No matter how you want to slice it, it's shaping up to be a very weak quarter for real spending, and it may end up being...
The US Personal Consumption Expenditures (PCE) price index increased by 0.3% month-over-month in February 2025, maintaining the same pace as the previous two months, and in line with expectations. Prices for goods rose 0.2%, below 0.5% in January and prices for services increased 0.4%, above 0.2% in the previous month. Meanwhile, the core PCE index, which excludes volatile food and energy prices, increased 0.4%, the most since January 2024, above 0.3% in the previous month and forecasts of 0.3%. Food prices steadied (vs 0.3% in January) while prices for energy goods and services were up...
Richmond Federal Reserve President Thomas Barkin said Thursday the current level of monetary policy is in a "good place," in a further sign the central bank is leaning toward keeping rates steady at a time of rising tariff-induced uncertainty. "We are waiting for the fog to clear," Barkin said in prepared remarks for an economics lecture at Washington and Lee University. "With the labor market still solid and inflation still above target, our moderately restrictive stance is a good place to be." The Richmond Fed president did say, however, that if "conditions start to shift, we are well...
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...