U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported on Tuesday, citing a U.S. official and an EU diplomat. Trump made the request during a conference call with EU sanctions envoy David O'Sullivan and other officials, according to the report. Washington signaled it would impose similar duties if Brussels joined the effort, the report said. Both China and India are major buyers of Russian crude and remain key to keeping Moscow's economy afloat as...
Australia's Gross Domestic Product (GDP) rose 0.6% QoQ in the second quarter (Q2) of 2025 compared with the 0.3% growth in the first quarter (revised from 0.2%), the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in stronger than the expectations of 0.5% expansion. The annual second-quarter GDP grew by 1.8%, compared with the 1.4% growth in Q1 (revised from 1.3%), while above the consensus of a 1.6% increase. Market reaction to Australia's GDP data The upbeat Australia GDP report provides some support to the Australian Dollar (AUD). The AUD/USD pair is...
U.S. President Donald Trump on Monday doubled down on his criticism of India, calling trade ties with the country "a totally one sided disaster!" after Indian Prime Minister Narendra Modi visited China to attend the Shanghai Cooperation Organization summit. Trump in a post on Truth Social also said that India had offered to cut its tariffs to zero, but it was "getting late," and that the country should have done so "years ago," without elaborating on when such an offer was made. This comes against the backdrop of the U.S. imposing 50% tariffs on the country, including secondary duties of...
U.S. President Donald Trump expressed disappointment with Russian President Vladimir Putin and indicated his administration plans to take action regarding casualties in the Ukraine war. "I am very disappointed in President Putin, I can say that, and we will be doing something to help people live," Trump said Tuesday during an interview on The Scott Jennings Radio Show. Meanwhile,Trump not concerned about China-Russia axisU.S. President Donald Trump stated he is "not concerned at all" about a potential axis forming against the United States that includes China and Russia. Trump made these...
President Xi Jinping used a mix of friendliness and economic appeal this week to send a clear message to Donald Trump: Beijing has too much global influence for the US to dictate. Cameras captured the Chinese leader in a rare, unscripted meeting on Monday with Vladimir Putin and Narendra Modi – his strongest allies in countering America on the world stage – at a summit in the Chinese port city of Tianjin. At one point, Xi held hands with his Indian counterpart, while the three men shared a lighthearted laugh, a striking sight considering that just months earlier, New Delhi and Beijing were...
U.S. Treasury Secretary Scott Bessent defended President Donald Trump's removal of Federal Reserve Governor Lisa Cook, saying the central bank has "made a lot of mistakes" even as he stressed its independence, according to a Reuters interview. Speaking to Reuters, Bessent argued that allegations of mortgage fraud against Cook warranted scrutiny and suggested she should resign if they prove true. "She hasn't said she didn't do it. She's just saying the president can't fire her. There's a big difference," Bessent told Reuters. Cook, the first Black woman to serve on the Fed Board, was...
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...
U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported...