President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed his administration had "succeeded where many others have failed," calling this the eighth war he has ended in less than a year. However, the reality on the ground is far more complicated, as fighting in eastern Congo continues despite the signing of the previous peace agreement. The agreement is not just about a ceasefire; it also concerns the mineral trade. The agreement grants US companies access...
President Donald Trump said that US tariffs on steel and aluminum imports will double from 25% to 50%, starting Wednesday. At a Pittsburgh rally Friday, he argued the move would strengthen the US steel industry, reduce reliance on China, and protect jobs. He also touted a $14 billion steel investment with Japan's Nippon Steel, though he later admitted he hadn't reviewed the final deal. "There will be no layoffs and no outsourcing whatsoever, and every US steelworker will soon receive a well-deserved $5,000 bonus," Trump told the crowd. Steelworkers raised concerns about how Japan would...
U.S. President Donald Trump on Friday accused China of breaking a recent trade agreement, only a few weeks after the two nations announced a temporary truce aimed at de-escalating tensions. In a post on Truth Social, Trump wrote: "China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US." He added: "So much for being Mr. NICE GUY!" Trump said the deal had been struck to prevent further economic deterioration in China after his administration's tariffs took effect. "We went, in effect, COLD TURKEY with China, and it was devastating for them," he said in...
The core PCE price index in the US, which excludes volatile and energy prices and is Federal Reserve's chosen gauge of underlying inflation in the US economy, went up 0.1% from the previous month in April of 2025. The result was in line with market expectations. From the previous year, the index rose by 2.5% to slow from the 2.7% jump from March, the softest increase since March of 2021. Source: Trading Economics
A federal judge needs more time to consider a motion filed by both sides of the U.S. Court of Appeals for the Federal Circuit to suspend President Donald Trump's far-reaching tariffs, according to the U.S. Court of Appeals for the Federal Circuit. The decision to lift the unlawful tariffs has been put on hold pending federal circuit review The U.S. appellate circuit has intervened following a ruling by the USCIT that the Trump administration misused the International Emergency Economic Powers Act (IEEPA) to impose global tariffs that exceeded legal limits. The IEEPA was intended to allow...
President Donald Trump's desire to impose new tariffs remains undeterred, even after the courts delivered the most devastating blow to his top job yet. White House officials quickly signaled Thursday that Trump would pursue many of the same levies through other legal authorities if the appeal fails. Meanwhile, the administration is aggressively pushing to overturn the decision, saying it would go to the U.S. Supreme Court as early as Friday if a federal appeals court does not stop the initial ruling from taking effect while the challenge continues. The ruling was "clearly wrong" and "we...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
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...
President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed...