Tariffs will kick in on Aug 1 barring trade deals: US Treasury Secretary
So far, the Trump administration has unveiled deals with the United Kingdom and Vietnam, while Washington and Beijing agreed to temporarily lower staggeringly high levies on each other’s products.
House narrowly passes Trump’s megabill in major victory for Republicans
The independent Congressional Budget Office warns that the bill could add $3.4 trillion to the $36.2 trillion of the world’s largest economy’s existing debt over the next decade.
China stock sentiment falls amid policy inaction and tariff concerns
The bank cautioned that markets could face increased volatility "in the next month or two," though they maintain a more positive outlook for fund flow momentum over the medium to long term,
EU-US trade talks focus on tariff offset for automakers
The EU is also pushing the US for quotas and exemptions to effectively lower Washington’s 25 per cent tariff on automobiles and car parts, as well as its 50 per cent tariff on steel and aluminium.
Powell reiterates Fed will wait for more data before cutting rates
Powell noted that a majority of Fed officials in recent projections still expect to lower the benchmark interest rate, with none of the remaining four meetings off the table.
US bonds set for further hit from Trump’s ‘big, beautiful’ spending Bill
The US national debt has increased fourfold in less than 10 years to around US$36 trillion, with about US$29 trillion held publicly.
Euro zone inflation edges higher, hitting ECB’s 2% target in June
Core inflation, which excludes energy, food, tobacco and alcohol prices, was unchanged at 2.3% in June.
ECB tweaks strategy to counter sustained inflation swings, either up or down
In its new strategy statement, the eurozone’s central bank kept a pledge – fought over internally – to deploy “especially forceful or persistent monetary policy measures”
India’s stock market enters volatile second half, but with hopes of new highs
Analysts attribute the volatility in part to foreign outflows, with capital shifting from Indian equities into US treasury bonds and other emerging markets like China and Indonesia.
Trump shrugs off July tariff deadline: ‘We can do whatever we want’
The question had specifically been about July 9, the deadline for the U.S. and the European Union to negotiate a trade deal or else trigger a 50% tariff on EU imports to take effect.
US consumer spending drops in May, price pressures remain muted
The latest figures suggest sluggish household demand, especially for services, extended into May after the weakest quarter for consumer spending since the onset of the pandemic.
US Fed official says open to July interest rate cut
Fed Chair Jerome Powell said policymakers could afford to wait so as to understand the effects of Trump’s tariffs, although the president has repeatedly urged the independent central bank to cut interest rates.