Whatever happens at September's Federal Reserve meeting will pale in comparison to a wholesale rethinking of the U.S. central bank's design, a possibility stirred by Donald Trump's latest appointment. The president nominated White House advisor Stephen Miran to temporarily fill Adriana Kugler's vacant Fed board seat, reheating a debate about whether the Fed structure, its independence, and even its central role in the monetary economy should now become live questions. That may sound like a giant leap in a discussion that has so far centered largely on how quickly the Fed should lower...
U.S. President Donald Trump on Monday said he hopes China will "quickly quadruple" its soybean orders from American farmers, framing the move as a way to cut Beijing's trade deficit with Washington. In a post on his Truth Social platform, Trump said, "China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans. I hope China will quickly quadruple its soybean orders." "This is also a way of substantially reducing China's Trade Deficit with the USA. Rapid service will be provided," he added. Soybeans are a key U.S. agricultural export to China and...
From McDonald's and Coca-Cola to Amazon and Apple, U.S.-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against U.S. tariffs. India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta's WhatsApp and Domino's has more...
About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday. Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S. to 50% - among the highest on any American trading partner. The Indian government had taken into account the 25% tariff that Trump initially imposed on goods while providing Monday's estimate, Pankaj Chaudhary, India's junior finance...
President Trump's deadline for Russia to strike a peace deal with Ukraine passed without stricter US sanctions imposed on Moscow. This likely contributed to the recent weakness in crude oil prices, with Brent trading at its lowest levels since early June, ING's commodity experts Ewa Manthey and Warren Patterson note. Speculators are bearish towards the oil market "The market is focused on Trump's meeting with President Putin on Friday – and whether any progress towards a peace deal can be made. But with Russia demanding that Ukraine cede occupied territory to end the war, it's difficult to...