U.S. President Donald Trump said he will meet with his budget director Russell Vought on Thursday to determine which "Democrat Agencies" to cut, as he looks to inflict pain on his political opposition in the second day of a government shutdown. "I can't believe the Radical Left Democrats gave me this unprecedented opportunity," Trump said in a social media post. Trump has already frozen federal transit and green-energy funding for Democratic-leaning states and has threatened to fire more federal workers during the shutdown, which began on Wednesday due to a partisan standoff in...
President Donald Trump confirmed Monday that tariffs on Mexico, and Canada are set to go ahead on Tuesday as both nations have now run out of room to negotiate a deal. Starting on Tuesday, all imported products from Canada and Mexico will be subject to 25% import duties. Trump has pointed to the lack of effort from Mexico and Canada to shore up their borders with the U.S. to stem the flow of the "vast amounts" of fentanyl that have poured into the United States. "No room left for Mexico or for Canada," the president told reporters at the White House. "The tariffs, you know, they're all...
St. Louis Federal Reserve President Alberto Musalem said on Monday he expects the U.S. economy to continue to expand this year, but recent weaker-than-expected consumption and housing data and reports from business contacts have raised concerns about possible risks to growth. "The outlook for continued solid economic growth looks good, the labor market is healthy, and financial conditions are supportive. But recent data have been weaker than expected, especially consumer spending and housing market data, posing some downside risk to growth," Musalem said in comments prepared for delivery...
Data from the Institute for Supply Management (ISM) show the Manufacturing PMI receding to 50.3 in February, down from 50.9 in the previous month and falling behind analysts' forecasts of 50.5. Meanwhile, the Prices Paid Index—which tracks inflation—advanced to 62.4 from 54.9, the Employment Index ticked lower to 47.6 from 50.3, and the New Orders Index deflated to 48.6, from 55.1. Market reaction The Greenback maintains its downbeat performance at the beginning of the week, motivating the US Dollar Index (DXY) to deflate to the 106.60 region. Source : Fxstreet
China is targeting American agricultural exports as it prepares retaliatory measures against new US import tariffs, China's state-backed Global Times reported, raising the stakes in an escalating trade war between the world's top two economies. US President Donald Trump last week threatened China with an additional 10% tariff that would take effect on Tuesday, resulting in a cumulative tariff of 20%, and accused Beijing of not doing enough to stop the flow of fentanyl into America, which China said amounted to "blackmail." "China is studying and formulating relevant countermeasures in...
Top Republicans aligned with U.S. President Donald Trump pushed Ukrainian President Volodymyr Zelenskiy on Sunday to change his position on the war with Russia or step aside, ramping up pressure on the Ukrainian leader after a contentious White House meeting last week. European leaders gave a show of support to Zelenskiy at a meeting in London on Sunday, with British Prime Minister Keir Starmer urging his counterparts to step up their defense efforts, just two days after Trump and Vice President JD Vance clashed with Zelenskiy in the Oval Office, spurring him to leave early without signing...
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...
The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long,...