The recent agreement between China and the European Union to commence talks regarding the imposition of tariffs on Chinese-made electric vehicles (EVs) imported into the European market represents a positive first step in resolving trade disputes. Germany’s Economy Minister, Robert Habeck, expressed optimism about the concrete negotiations on tariffs with China after being informed by
Economy
Germany’s Economy Minister Robert Habeck visited China to discuss the proposed European Union tariffs on Chinese goods, including electric vehicles. The visit aimed to clarify that these tariffs are not punitive measures, but rather an effort to ensure fair competition. Habeck emphasized that the EU had thoroughly examined whether Chinese companies benefited unfairly from subsidies.
In recent days, the US dollar has seen a surge in strength against the Japanese yen and British pound. This comes as a result of the Federal Reserve taking a more cautious approach to interest rate cuts compared to other central banks around the world. The dollar index, which measures the currency against a basket
The recent report of lower than expected inflation rates in Israel has raised questions about the future monetary policy of the central bank. While the inflation rate of 2.8% is within the annual target of 1%-3%, it has not been sufficient to prompt the Bank of Israel to resume its rate cutting cycle. Even though
In a move to deepen ties with South Korea, Germany’s economy minister embarked on a trip to Asia, emphasizing the need to de-risk trade exposure to China. Both nations share a common goal of expanding their network of commercial allies amidst growing trade concerns. This mission aims to boost cooperation in business, economic security, and
Japan’s recent data on exports in May reveals a concerning trend – while the weak yen has contributed to a significant increase in the value of exports, the volume of sales has been decreasing for the fourth straight month. This paints a picture of global demand that is still relatively soft, posing challenges for the
The European Central Bank is expected to cut its deposit rate twice more this year, in September and December, according to a significant majority of economists. These predictions come despite the improving business activity and strong wage data, which have raised uncertainties around the rationale for more cuts. The risks, however, are skewed towards fewer
Recently, China has initiated an anti-dumping investigation on imported pork and its by-products from the European Union. This move is seen as a response to the EU’s restrictions on Chinese electric vehicle exports. The investigation, announced by China’s commerce ministry, is expected to have significant implications for European pork producers, particularly those in Spain, the
The euro has been facing pressure due to political instability in Europe, particularly in France where far-right and leftist parties are gaining momentum. This has raised concerns about a potential budget crisis in the eurozone. In response to this, investors have been closely watching the situation, leading to a decline in the value of the
The upcoming week in Asian markets is set to kick off with the monthly Chinese ‘data dump’, providing investors with crucial insights into the state of the world’s second-largest economy. While recent indicators such as producer and consumer prices have pointed towards looming deflationary risks, a closer look at retail sales, business investment, industrial production,
China Premier Li Qiang recently embarked on a four-day trip to Australia, marking the first visit by a Chinese premier to the country in seven years. During his visit, Li made stops at a South Australian winery and Adelaide Zoo, where he announced that China would provide two new pandas to the zoo after the
President Luiz Inacio Lula da Silva of Brazil has expressed his willingness to consider Finance Minister Fernando Haddad’s suggestions for spending cuts. However, he has made it clear that any fiscal adjustments must not come at the expense of the poor. This statement comes amidst mounting pressure on the government to reduce expenditures and achieve
Italian Prime Minister Giorgia Meloni, who assumed office in 2022, has exhibited a pragmatic approach to major international issues during her tenure. Despite initial concerns about her rigid conservatism, Meloni has demonstrated a willingness to compromise. However, at the recent Group of Seven summit that Italy hosted, Meloni showcased her commitment to certain core principles
During a Ukraine peace summit in Lucerne, Switzerland, U.S. Vice President Kamala Harris pledged more than $1.5 billion in aid, with a significant portion dedicated to Ukraine’s energy sector. This announcement comes in response to Russia’s 27-month invasion of Ukraine, which has had devastating impacts on the country’s infrastructure and humanitarian situation. The aid package