U.S. President Donald Trump has imposed a 19% tariff on exports from Malaysia to the U.S., lower than the 25% rate he initially threatened in July. The rate was finalized in an executive order signed on July 31, just ahead of the August 1 deadline Trump set for countries to reach trade agreements with his administration. According to Malaysia's trade ministry, the revised tariff was achieved without compromising the country's sovereign rights, as it held firm on several key "red line" issues. The ministry described the outcome as a "significant achievement" resulting from sustained...
The U.S. will levy a 30% tariff on South African exports next week, after Pretoria failed to reach a trade deal before President Donald Trump's deadline. The new rate is part of a broader executive order signed Thursday, imposing tariffs ranging from 10% to 41% on dozens of countries to reshape global trade in favor of the U.S. Despite months of negotiations and an offer to buy U.S. LNG and invest $3.3 billion in American industries, South Africa's efforts fell short. Trade Minister Parks Tau warned the tariff threatens key export sectors like automotive, agro-processing, steel, and...
The Fed may or may not actually cut interest rates in September. The deciding factor will be how robust macroeconomic data (namely, inflation and the labor market) looks at that time. That's why all eyes will likely be on today's US labor market report for July. Certainly, there are signs of weakness in some areas of the US labor market, particularly in cyclical sectors like manufacturing and business services. While the June report shows a fairly good figure (+147,000), a closer look reveals mixed results. However, there are no signs of a slowdown, notes Commerzbank FX analyst Antje...
President Donald Trump urged the Federal Reserve Board to "take control" if Chairman Jerome Powell doesn't cut interest rates, escalating his feud with the central bank's leadership. "Jerome Powell 'Late,' a stubborn, STUPID man, must lower interest rates substantially, now. if he continues to refuse, the board must take control, and do what everyone knows should do!" the president wrote on social media on Friday. The White House did not immediately respond to a request for comment on the president's remarks. Trump's post came after Fed officials left interest rates unchanged on...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend in employment in the healthcare and social assistance sectors continued. The federal government continued to lose jobs. The June figure was also revised down sharply from 147,000 to 14,000, and the May figure was also revised down by 125,000. With these revisions, total employment in May and June was 258,000 lower than previously reported. (alg) Source: trading economics