Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
U.S. President Donald Trump is laying the groundwork to blame the Federal Reserve under Chair Jerome Powell for any economic weakness resulting from his trade tariffs, the Wall Street Journal's Nick Timiraos wrote on Monday. Trump is signaling that he will blame the Fed if the central bank does not concede to his demands for interest rate cuts soon, Timiraos said, in a process that could also delegitimize the central bank's independence. Timiraos' comments come after Trump engaged in a social media tirade against the Fed and Chair Powell, calling him a "major loser" and "Mr. Too Late" amid...
Exports from Indonesia unexpectedly grew by 3.16% year-on-year to a three-month high of USD 23.25 billion in March 2025, beating forecasts of a 3.4% fall, despite easing from a marginally revised 13.86% jump in February. This marked the 12th straight month of export growth, though it was the softest pace since last July as non-oil and gas exports rose by 2.56% to USD 21.80 billion, slowing sharply from a 15.40% surge in February. Sales grew to the U.S. (20.06%), China (9.51%), ASEAN (6.82%), and the EU (21.52%). Among commodities, sales increased mainly for animal/vegetable fats and oils...
U.S. President Donald Trump again called for Powell to cut rates.Economic activity might ‘fall off' in summer, Chicago Fed President Austan Goolsbee said.The Trump administration could overhaul the U.S. State Department.Fees on Chinese-built vessels will be imposed by the Trump administration.Ukraine said it had signed the outline of a mineral deal with the U.S.Tesla and Alphabet are announcing first-quarter earnings this week.An independent central bank is seen by most (including this newsletter) as the bedrock of a functional economy. Officials steer the economy by calibrating the...
China's ambassador to the United States, Xie Feng, has urged Washington to seek common ground with Beijing and pursue peaceful coexistence while warning that China stood ready to retaliate in the escalating trade war. Speaking at a public event in Washington on Saturday, details of which were posted on the Chinese embassy's web site, Xie said tariffs would devastate the global economy and drew a parallel between the Great Depression and tariffs imposed by the U.S. in 1930. Referring to concepts in traditional Chinese medicine like the need to balance the opposing forces of yin and yang,...
President Donald Trump said he was reluctant to continue ratcheting up tariffs on China because it could stall trade between the two countries, and insisted Beijing had repeatedly reached out in a bid to broker a deal. Trump, speaking to reporters in the Oval Office on Thursday, said officials he believed represented the Chinese leader Xi Jinping had sought to start talks. But he repeatedly sidestepped direct questions about whether he and Xi had been in direct contact. "I have a very good relationship with President Xi, and I think it's going to continue. And I would say they have reached...
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...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...