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Japanese Prime Minister Shigeru Ishiba has pledged to continue negotiations with the United States to secure a mutually beneficial trade agreement, after President Donald Trump threatened to impose a 25 per cent tariff on Japanese goods starting 1 August.<h2>Trump’s tariff threat escalates trade tensions</h2>President Trump on Monday formally announced the new 25 per cent tariff on imports from Japan, sharing letters addressed to Prime Minister Ishiba and other leaders on his social media platform. As per Reuters, the letters informed major trade partners, from suppliers like Japan and South Korea to smaller players, of steep new US tariffs.&nbsp;While the tariffs are set to begin on 1 August, Trump suggested he was willing to consider delaying implementation if countries submitted acceptable proposals. According to Reuters, Trump told reporters the deadline was “firm, but not 100% firm,” leaving open the possibility of a negotiated settlement.<h2>Japan seeks balanced deal while avoiding higher tariffs</h2>Prime Minister Ishiba acknowledged that talks so far had helped Tokyo avoid even steeper tariff levels previously floated by Washington. As per Reuters, Trump had at one point signalled tariffs in the range of 30 to 35 per cent.&nbsp;Speaking at a cabinet meeting on Tuesday, Ishiba said: “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised.”Ishiba added that Japan would “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest.” He also directed cabinet ministers to prepare measures to mitigate the potential impact of tariffs on industries and jobs, as per Reuters.&nbsp;<h2>Trade talks complicated by automotive tariffs</h2>According to Reuters, Japan and the United States failed to reach a deal before the 9 July expiry of a temporary pause on reciprocal tariffs. Talks have been especially fraught over automobiles, which are central to Japan’s export-driven economy. Tokyo has prioritised eliminating the existing 25 per cent US tariff on cars, a demand Washington has resisted.&nbsp;Ishiba’s government is under pressure to avoid damaging concessions ahead of Japan’s upper house election on 20 July. As per Reuters, Ishiba has repeatedly insisted Japan will not make “easy concessions” just for the sake of a quick deal.<h2>Political risks for Ishiba’s government</h2>Analysts warn that the upcoming election complicates Tokyo’s negotiating position. Recent media polls cited by Reuters suggest Ishiba’s ruling coalition could struggle to maintain its majority in the upper chamber, potentially weakening the prime minister’s domestic standing and leverage in talks with Washington.<h2>Economic headwinds add urgency</h2>Japan’s economy faces wider challenges that make avoiding new tariffs all the more urgent. According to Bloomberg, the Japanese government this week delivered its bleakest assessment of the economy in nearly five years, citing weak consumption and manufacturing.&nbsp;Official data show Japan’s economy shrank in the first quarter, with real wages in May falling at their fastest pace in nearly two years. As per Reuters, the threat of US tariffs has also weighed on currency markets, driving the dollar to a two-week high of 146.24 yen and raising already rising import costs.<h2>Impact on exporters and wages</h2>Economists warn that even with the avoided worst-case scenario of 35 per cent tariffs, the planned 25 per cent duty would still be painful for Japan’s manufacturers. Kazuki Fujimoto, an analyst at Japan Research Institute, told Reuters: “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%.”&nbsp;Fujimoto added that weakening corporate profits could make it “hard to avoid companies from toning down on efforts to hike wages,” compounding risks to domestic demand.<h2>Hope for deal remains despite tough negotiations</h2>Despite the sharp rhetoric and the fast-approaching deadline, both sides continue to hold out hope for a deal. According to Reuters, Ishiba stressed Japan’s commitment to finding a “mutually beneficial” solution that preserves the country’s national interest while meeting US demands.&nbsp;As the 1 August deadline nears, the coming weeks will test Ishiba’s diplomatic skill and determine whether Japan can protect its vital industries without compromising its negotiating principles, while preserving a stable relationship with its most important security ally.

Facing 25% US tariffs and mounting political and economic pressure, Prime Minister Shigeru Ishiba vows to pursue a balanced trade deal with Washington, as auto sector tensions and upcoming elections complicate talks.

Japanese Prime Minister Shigeru Ishiba has pledged to continue negotiations with the United States to secure a mutually beneficial trade agreement, after President Donald Trump threatened to impose a 25 per cent tariff on Japanese goods starting 1 August. Trump’s tariff threat escalates trade tensions President Trump on Monday formally announced the new 25 per cent tariff on imports from Japan, sharing letters addressed to Prime Minister Ishiba and other leaders on his social media platform. As per Reuters, the letters informed major trade partners, from suppliers like Japan and South Korea to smaller players, of steep new US tariffs. While the tariffs are set to begin on 1 August, Trump suggested he was willing to consider delaying implementation if countries submitted acceptable proposals. According to Reuters, Trump told reporters the deadline was “firm, but not 100% firm,” leaving open the possibility of a negotiated settlement. Japan seeks balanced deal while avoiding higher tariffs Prime Minister Ishiba acknowledged that talks so far had helped Tokyo avoid even steeper tariff levels previously floated by Washington. As per Reuters, Trump had at one point signalled tariffs in the range of 30 to 35 per cent. Speaking at a cabinet meeting on Tuesday, Ishiba said: “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised.” Ishiba added that Japan would “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest.” He also directed cabinet ministers to prepare measures to mitigate the potential impact of tariffs on industries and jobs, as per Reuters. Trade talks complicated by automotive tariffs According to Reuters, Japan and the United States failed to reach a deal before the 9 July expiry of a temporary pause on reciprocal tariffs. Talks have been especially fraught over automobiles, which are central to Japan’s export-driven economy. Tokyo has prioritised eliminating the existing 25 per cent US tariff on cars, a demand Washington has resisted. Ishiba’s government is under pressure to avoid damaging concessions ahead of Japan’s upper house election on 20 July. As per Reuters, Ishiba has repeatedly insisted Japan will not make “easy concessions” just for the sake of a quick deal. Political risks for Ishiba’s government Analysts warn that the upcoming election complicates Tokyo’s negotiating position. Recent media polls cited by Reuters suggest Ishiba’s ruling coalition could struggle to maintain its majority in the upper chamber, potentially weakening the prime minister’s domestic standing and leverage in talks with Washington. Economic headwinds add urgency Japan’s economy faces wider challenges that make avoiding new tariffs all the more urgent. According to Bloomberg, the Japanese government this week delivered its bleakest assessment of the economy in nearly five years, citing weak consumption and manufacturing. Official data show Japan’s economy shrank in the first quarter, with real wages in May falling at their fastest pace in nearly two years. As per Reuters, the threat of US tariffs has also weighed on currency markets, driving the dollar to a two-week high of 146.24 yen and raising already rising import costs. Impact on exporters and wages Economists warn that even with the avoided worst-case scenario of 35 per cent tariffs, the planned 25 per cent duty would still be painful for Japan’s manufacturers. Kazuki Fujimoto, an analyst at Japan Research Institute, told Reuters: “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%.” Fujimoto added that weakening corporate profits could make it “hard to avoid companies from toning down on efforts to hike wages,” compounding risks to domestic demand. Hope for deal remains despite tough negotiations Despite the sharp rhetoric and the fast-approaching deadline, both sides continue to hold out hope for a deal. According to Reuters, Ishiba stressed Japan’s commitment to finding a “mutually beneficial” solution that preserves the country’s national interest while meeting US demands. As the 1 August deadline nears, the coming weeks will test Ishiba’s diplomatic skill and determine whether Japan can protect its vital industries without compromising its negotiating principles, while preserving a stable relationship with its most important security ally.

Japan is pushing to secure a trade deal with the US before Trump’s 1 August tariff deadline, aiming to shield its key industries while avoiding damaging concessions.

Japan vows to pursue US trade deal as Trump’s tariff deadline looms

South Korea says it will intensify negotiations with the United States in a last-ditch effort to avoid a threatened 25 per cent tariff, as President Donald Trump’s administration sets an August 1 deadline for the new duties.<h2>Trump threatens new tariffs from August 1</h2>President Trump announced on Monday that he would impose a 25 per cent tariff on South Korean goods from 1 August, posting formal letters to President Lee Jae Myung and Japan’s prime minister on his social media platform.&nbsp;In the letter to President Lee, Trump criticised what he called a lopsided trading relationship, urging Seoul to open “heretofore closed markets” and eliminate tariff and non-tariff barriers. According to South Korea’s Industry Ministry, the letter effectively grants a grace period before the new tariffs are enforced, as per Reuters.&nbsp;<h2>Seoul promises intensified negotiations</h2>In response, South Korea’s Industry Ministry said it would use the remaining time to secure a deal that could prevent the tariffs from taking effect. “We will step up negotiations during the remaining period to reach a mutually beneficial result to quickly resolve the uncertainties from tariffs,” the ministry said in an official statement, as quoted by Reuters.&nbsp;&nbsp;As per Reuters, South Korea also plans to use the window to address US concerns about its large trade surplus and overhaul domestic regulations. The ministry said it would pursue reforms through what it described as a “manufacturing renaissance partnership” with Washington.&nbsp;<h2>Record trade surplus draws US scrutiny</h2>As per Korea Customs Service data cited by Reuters, South Korea posted a record $55.6 billion trade surplus with the United States in 2024, up 25 per cent from the previous year. The imbalance has been driven largely by strong car exports, making South Korea a target for Trump’s renewed push on trade.&nbsp;Although the two countries have a free trade agreement, signed in 2007 and revised in 2018, economists note that South Korea’s effective tariff rates on US imports are near zero. However, Washington has continued to argue that non-tariff and regulatory barriers remain a major obstacle.<h2>High-level diplomacy after political upheaval</h2>President Lee Jae Myung, who took office on 4 June after a snap election, faces his first major foreign policy test with these negotiations. Lee has blamed his predecessor’s martial law declaration in December for weakening South Korea’s ability to respond quickly to Trump’s tariff demands.&nbsp;After initially sticking to technical-level discussions, Seoul has moved rapidly to high-level diplomacy. South Korea’s top trade envoy and National Security Advisor Wi Sung-lac have travelled to Washington in recent days for trade and defence talks.<h2>Hopes for a last-minute deal</h2>According to President Lee’s office, Wi met US Secretary of State Marco Rubio in Washington on Monday. The two agreed that a summit between Lee and Trump could help advance negotiations. Lee’s office cited Rubio as saying there was still time to reach a settlement before the deadline. “Tariff letters to major trading partners including South Korea were sent out today but there is still time until tariffs are implemented on August 1 so he hopes the two countries can communicate closely to reach an agreement before that,” Lee’s office said, as quoted by Reuters.&nbsp;&nbsp;Trump himself suggested the deadline was not entirely rigid. Asked if it was firm, he told reporters: “I would say firm, but not 100% firm. If they call up and they say we’d like to do something a different way, we’re going to be open to that.”<h2>Uncertainty for exporters</h2>The Industry Ministry acknowledged in its statement that the new administration did not have enough time after Lee’s inauguration to settle all outstanding issues with Washington, despite what it called “intense negotiations”.&nbsp;As the 1 August deadline looms, the threat of new tariffs casts a shadow over one of Asia’s most critical trade relationships with the United States. For South Korea, securing an exemption could not only protect exporters from fresh costs but also prove that President Lee’s new government can restore stability to a vital alliance after months of domestic political turmoil.

Facing a record trade surplus and rising US pressure, South Korea new government intensifies talks with Washington to prevent steep tariffs, with hopes pinned on high-level diplomacy and a potential Lee-Trump summit.

South Korea says it will intensify negotiations with the United States in a last-ditch effort to avoid a threatened 25 per cent tariff, as President Donald Trump’s administration sets an August 1 deadline for the new duties. Trump threatens new tariffs from August 1 President Trump announced on Monday that he would impose a 25 per cent tariff on South Korean goods from 1 August, posting formal letters to President Lee Jae Myung and Japan’s prime minister on his social media platform. In the letter to President Lee, Trump criticised what he called a lopsided trading relationship, urging Seoul to open “heretofore closed markets” and eliminate tariff and non-tariff barriers. According to South Korea’s Industry Ministry, the letter effectively grants a grace period before the new tariffs are enforced, as per Reuters. Seoul promises intensified negotiations In response, South Korea’s Industry Ministry said it would use the remaining time to secure a deal that could prevent the tariffs from taking effect. “We will step up negotiations during the remaining period to reach a mutually beneficial result to quickly resolve the uncertainties from tariffs,” the ministry said in an official statement, as quoted by Reuters. As per Reuters, South Korea also plans to use the window to address US concerns about its large trade surplus and overhaul domestic regulations. The ministry said it would pursue reforms through what it described as a “manufacturing renaissance partnership” with Washington. Record trade surplus draws US scrutiny As per Korea Customs Service data cited by Reuters, South Korea posted a record $55.6 billion trade surplus with the United States in 2024, up 25 per cent from the previous year. The imbalance has been driven largely by strong car exports, making South Korea a target for Trump’s renewed push on trade. Although the two countries have a free trade agreement, signed in 2007 and revised in 2018, economists note that South Korea’s effective tariff rates on US imports are near zero. However, Washington has continued to argue that non-tariff and regulatory barriers remain a major obstacle. High-level diplomacy after political upheaval President Lee Jae Myung, who took office on 4 June after a snap election, faces his first major foreign policy test with these negotiations. Lee has blamed his predecessor’s martial law declaration in December for weakening South Korea’s ability to respond quickly to Trump’s tariff demands. After initially sticking to technical-level discussions, Seoul has moved rapidly to high-level diplomacy. South Korea’s top trade envoy and National Security Advisor Wi Sung-lac have travelled to Washington in recent days for trade and defence talks. Hopes for a last-minute deal According to President Lee’s office, Wi met US Secretary of State Marco Rubio in Washington on Monday. The two agreed that a summit between Lee and Trump could help advance negotiations. Lee’s office cited Rubio as saying there was still time to reach a settlement before the deadline. “Tariff letters to major trading partners including South Korea were sent out today but there is still time until tariffs are implemented on August 1 so he hopes the two countries can communicate closely to reach an agreement before that,” Lee’s office said, as quoted by Reuters. Trump himself suggested the deadline was not entirely rigid. Asked if it was firm, he told reporters: “I would say firm, but not 100% firm. If they call up and they say we’d like to do something a different way, we’re going to be open to that.” Uncertainty for exporters The Industry Ministry acknowledged in its statement that the new administration did not have enough time after Lee’s inauguration to settle all outstanding issues with Washington, despite what it called “intense negotiations”. As the 1 August deadline looms, the threat of new tariffs casts a shadow over one of Asia’s most critical trade relationships with the United States. For South Korea, securing an exemption could not only protect exporters from fresh costs but also prove that President Lee’s new government can restore stability to a vital alliance after months of domestic political turmoil.

South Korea is racing to negotiate a last-minute trade deal with the US to avoid Trump’s threatened 25% tariffs set to take effect on August 1.

South Korea races to secure US tariff deal before August 1 deadline

US President Donald Trump on Monday (July 7) announced fresh tariffs on 14 countries, including South Korea and Japan. The POTUS shared signed tariff letters for these countries on his Truth Social platform. In the fresh round of tariffs, the highest rate of 40 per cent has been imposed on Myanmar and the Lao People’s Democratic Republic. Japan and South Korea were the first countries named in the list with 25 per cent tariff each. In each of these letters, Trump warned of retaliatory measures if the concerned country increases its tariff against the US. These tariffs would come into effect from August 1 this year.&nbsp;"If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the tariffs that we charge," wrote Trump. “The deficit is a major threat to our economy and indeed our national security,” the US President added. The fresh list of tariffs comes two months after the US President announced 'Liberation Day tariffs' on US trade partners, claiming that unfair trade practices have been taking place and the US has been at the receiving end of it. He later paused the tariffs for 90 days, giving a window to nations to negotiate. In this 90-day period, he has hinted several times that the US and India are on the verge of signing the trade deal and has also announced a deal with China.<h2>Countries on which Donald Trump imposed tariffs</h2><ul><li>Japan: 25% &nbsp;</li><li>South Korea: 25%&nbsp;</li><li>Lao People's Democratic Republic: 40% &nbsp;</li><li>Myanmar: 40%&nbsp;</li><li>Cambodia: 36%&nbsp;</li><li>Thailand: 36%&nbsp;</li><li>Bangladesh: 35%</li><li>Republic of Serbia: 35%&nbsp;</li><li>Indonesia: 32% &nbsp;</li><li>Bosnia and Herzegovina: 30%</li><li>South Africa: 30%&nbsp;</li><li>Kazakhstan: 25%&nbsp;</li><li>Malaysia: 25%&nbsp;</li><li>Republic of Tunisia: 25%</li></ul><h2>How can countries skip the tariffs?</h2>Even as the POTUS imposed fresh tariffs, he added he would remain open to discussions and negotiations. “I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that,” Trump answered when asked if the deadline for the tariffs was firm. Trump's press secretary Karoline Leavitt was also asked why the President chose Japan and South Korea as first targets. Leavitt responded, “It was the president’s prerogative. Those are the countries he chose.”&nbsp;

Donald Trump's tariff war is back: In the first list of countries, he has imposed tariffs on 14 countries, including Japan, South Korea. The highest rate of 40 per cent has been imposed on Myanmar and the Lao People’s Democratic Republic.

US President Donald Trump on Monday (July 7) announced fresh tariffs on 14 countries, including South Korea and Japan. The POTUS shared signed tariff letters for these countries on his Truth Social platform. In the fresh round of tariffs, the highest rate of 40 per cent has been imposed on Myanmar and the Lao People’s Democratic Republic. Japan and South Korea were the first countries named in the list with 25 per cent tariff each. In each of these letters, Trump warned of retaliatory measures if the concerned country increases its tariff against the US. These tariffs would come into effect from August 1 this year. "If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the tariffs that we charge," wrote Trump. “The deficit is a major threat to our economy and indeed our national security,” the US President added. The fresh list of tariffs comes two months after the US President announced 'Liberation Day tariffs' on US trade partners, claiming that unfair trade practices have been taking place and the US has been at the receiving end of it. He later paused the tariffs for 90 days, giving a window to nations to negotiate. In this 90-day period, he has hinted several times that the US and India are on the verge of signing the trade deal and has also announced a deal with China. Countries on which Donald Trump imposed tariffs Japan: 25% South Korea: 25% Lao People's Democratic Republic: 40% Myanmar: 40% Cambodia: 36% Thailand: 36% Bangladesh: 35% Republic of Serbia: 35% Indonesia: 32% Bosnia and Herzegovina: 30% South Africa: 30% Kazakhstan: 25% Malaysia: 25% Republic of Tunisia: 25% How can countries skip the tariffs? Even as the POTUS imposed fresh tariffs, he added he would remain open to discussions and negotiations. “I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that,” Trump answered when asked if the deadline for the tariffs was firm. Trump's press secretary Karoline Leavitt was also asked why the President chose Japan and South Korea as first targets. Leavitt responded, “It was the president’s prerogative. Those are the countries he chose.”

Donald Trump's tariff war is back: In the first list of countries, he has imposed tariffs on 14 countries, including Japan, South Korea. The highest rate of 40 per cent has been imposed on Myanmar and the Lao People’s Democratic Republic.

Trump slaps fresh tariffs on THESE nations as TARIFF WAR begins again - here's how countries can SKIP it

Capgemini, a French business and technology transformation player, and WNS, a business transformation and services firm, announced on Monday (July 7, 2025) that they have entered into a definitive transaction agreement under which Capgemini will acquire WNS for a total cash consideration of $3.3 billion. French IT services giant Capgemini announced the acquisition of business transformation services firm WNS for $3.3 billion, excluding debt, on Monday, in a move that will expand the company’s generative AI and agentic AI capabilities. Capgemini said the two entered a definitive transaction agreement, wherein London-based WNS will be acquired for a cash consideration of $76.50 a share, a premium of 17 per cent to the last closing share price. “Capgemini’s acquisition of WNS will provide the group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS to Agentic AI-powered Intelligent Operations,” chief executive officer Aiman Ezzat said.&nbsp;“Together we will create a leader in Intelligent Operations, uniquely positioned to support organisations in their AI-powered business process transformation, blending the critical capabilities needed from consulting, technology and platforms to deep process and industry expertise,” Ezzat added.This will address the client needs for agentic AI-driven process transformation to deliver efficiency and agility through hyper-automation while achieving superior business outcomes.&nbsp;<h2>Transaction to help seize Intelligent Operations strategic market opportunity</h2>&nbsp;Capgemini said the transaction would immediately unlock cross-selling opportunities. It would also lay the foundations to build the capabilities to seize the Intelligent Operations strategic market opportunity.“With combined revenues of €1.9 billion in 2024 in Digital BPS, this will strengthen Capgemini’s ability to accompany clients on their business and technology transformation journeys,” it added.&nbsp;WNS CEO Keshav R Murugesh said, “By combining our deep domain and process expertise with Capgemini’s global reach, cutting-edge Gen AI and Agentic AI capabilities, a robust partner ecosystem, and advanced technology platforms, we are creating a powerful proposition that accelerates enterprise reinvention.”“As a recognised leader in the Digital Business Process Services space, we see the next wave of transformation being driven by intelligent, domain-centric operations that unlock strategic value for our clients. Organisations that have already digitised are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy,” the WNS CEO added. The portfolio of WNS includes blue-chip clients like United Airlines, Aviva, M&amp;T Bank, Centrica, and McCain Foods.&nbsp;A media statement from Capgemini said the total cash consideration would amount to $3.3 billion, excluding WNS’s net financial debt. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors and is expected to close by the end of the year.&nbsp;

A media statement from Capgemini said the total cash consideration would amount to $3.3 billion, excluding WNS’s net financial debt. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors and is expected to close by the end of the year.

Capgemini, a French business and technology transformation player, and WNS, a business transformation and services firm, announced on Monday (July 7, 2025) that they have entered into a definitive transaction agreement under which Capgemini will acquire WNS for a total cash consideration of $3.3 billion. French IT services giant Capgemini announced the acquisition of business transformation services firm WNS for $3.3 billion, excluding debt, on Monday, in a move that will expand the company’s generative AI and agentic AI capabilities. Capgemini said the two entered a definitive transaction agreement, wherein London-based WNS will be acquired for a cash consideration of $76.50 a share, a premium of 17 per cent to the last closing share price. “Capgemini’s acquisition of WNS will provide the group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS to Agentic AI-powered Intelligent Operations,” chief executive officer Aiman Ezzat said. “Together we will create a leader in Intelligent Operations, uniquely positioned to support organisations in their AI-powered business process transformation, blending the critical capabilities needed from consulting, technology and platforms to deep process and industry expertise,” Ezzat added. This will address the client needs for agentic AI-driven process transformation to deliver efficiency and agility through hyper-automation while achieving superior business outcomes. Transaction to help seize Intelligent Operations strategic market opportunity Capgemini said the transaction would immediately unlock cross-selling opportunities. It would also lay the foundations to build the capabilities to seize the Intelligent Operations strategic market opportunity. “With combined revenues of €1.9 billion in 2024 in Digital BPS, this will strengthen Capgemini’s ability to accompany clients on their business and technology transformation journeys,” it added. WNS CEO Keshav R Murugesh said, “By combining our deep domain and process expertise with Capgemini’s global reach, cutting-edge Gen AI and Agentic AI capabilities, a robust partner ecosystem, and advanced technology platforms, we are creating a powerful proposition that accelerates enterprise reinvention.” “As a recognised leader in the Digital Business Process Services space, we see the next wave of transformation being driven by intelligent, domain-centric operations that unlock strategic value for our clients. Organisations that have already digitised are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy,” the WNS CEO added. The portfolio of WNS includes blue-chip clients like United Airlines, Aviva, M&T Bank, Centrica, and McCain Foods. A media statement from Capgemini said the total cash consideration would amount to $3.3 billion, excluding WNS’s net financial debt. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors and is expected to close by the end of the year.

A media statement from Capgemini said the total cash consideration would amount to $3.3 billion, excluding WNS’s net financial debt. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors and is expected to close by the end of the year.

Capgemini acquires WNS for $3.3 billion with focus on AI growth

China’s central bank continued to bolster its gold reserves in June, extending a buying streak that underscores Beijing’s strategy to reduce reliance on the US dollar and strengthen its financial resilience. According to Bloomberg, the People’s Bank of China (PBOC) added 70,000 troy ounces of gold to its official reserves last month. This marks the eighth consecutive monthly increase, bringing total purchases since November to about 1.1 million troy ounces, or roughly 34.2 metric tons.<h2>Building reserves as prices hover near record highs</h2>The sustained buying comes as global gold prices have traded near historic highs. Year to date, gold has risen more than 25 per cent, supported by robust central bank demand, safe-haven flows linked to geopolitical tensions in the Middle East, and uncertainty surrounding US trade and economic policy.&nbsp;While June saw gold prices stabilise after earlier gains, analysts suggest ongoing purchases by official institutions, including the PBOC are likely to provide a floor for prices in the months ahead, as per Bloomberg.<h2>Diversifying away from the dollar</h2>China’s appetite for gold reflects a long-running effort to diversify its foreign exchange reserves away from dollar-denominated assets. According to Bloomberg, the PBOC had paused gold buying for six months before resuming acquisitions in November, ending what had been an 18-month buying spree that started in 2024.&nbsp;This renewed push highlights Beijing’s concern over the sustainability of US fiscal policy and the perceived long-term weakening of the dollar.<h2>Part of a global central bank trend</h2>China is not alone in boosting gold holdings. Central banks worldwide have been buying bullion at elevated levels, viewing it as a hedge against currency volatility, inflation, and geopolitical risk.&nbsp;Bloomberg notes that these official-sector purchases have been a key driver of gold’s rally this year, even as other factors such as investor demand and safe-haven buying also play a role.<h2>Outlook remains firm despite price consolidation</h2>Though gold prices showed signs of levelling off in June, many analysts expect steady central bank demand, including from China to continue supporting the market.&nbsp;Persistent worries about the global economic outlook, tensions in the Middle East, and trade frictions driven by US President Donald Trump’s policy stance are all contributing to a cautious environment where gold remains an attractive reserve asset.&nbsp;(With inputs from the agencies) &nbsp;

The People’s Bank of China added 70,000 ounces of gold in June, part of a broader move by global central banks to reduce dollar reliance and safeguard against inflation, geopolitical shocks, and trade tensions.

China’s central bank continued to bolster its gold reserves in June, extending a buying streak that underscores Beijing’s strategy to reduce reliance on the US dollar and strengthen its financial resilience. According to Bloomberg, the People’s Bank of China (PBOC) added 70,000 troy ounces of gold to its official reserves last month. This marks the eighth consecutive monthly increase, bringing total purchases since November to about 1.1 million troy ounces, or roughly 34.2 metric tons. Building reserves as prices hover near record highs The sustained buying comes as global gold prices have traded near historic highs. Year to date, gold has risen more than 25 per cent, supported by robust central bank demand, safe-haven flows linked to geopolitical tensions in the Middle East, and uncertainty surrounding US trade and economic policy. While June saw gold prices stabilise after earlier gains, analysts suggest ongoing purchases by official institutions, including the PBOC are likely to provide a floor for prices in the months ahead, as per Bloomberg. Diversifying away from the dollar China’s appetite for gold reflects a long-running effort to diversify its foreign exchange reserves away from dollar-denominated assets. According to Bloomberg, the PBOC had paused gold buying for six months before resuming acquisitions in November, ending what had been an 18-month buying spree that started in 2024. This renewed push highlights Beijing’s concern over the sustainability of US fiscal policy and the perceived long-term weakening of the dollar. Part of a global central bank trend China is not alone in boosting gold holdings. Central banks worldwide have been buying bullion at elevated levels, viewing it as a hedge against currency volatility, inflation, and geopolitical risk. Bloomberg notes that these official-sector purchases have been a key driver of gold’s rally this year, even as other factors such as investor demand and safe-haven buying also play a role. Outlook remains firm despite price consolidation Though gold prices showed signs of levelling off in June, many analysts expect steady central bank demand, including from China to continue supporting the market. Persistent worries about the global economic outlook, tensions in the Middle East, and trade frictions driven by US President Donald Trump’s policy stance are all contributing to a cautious environment where gold remains an attractive reserve asset. (With inputs from the agencies)

China extended its gold buying streak in June, reinforcing its strategy to diversify reserves and hedge against dollar risks amid global uncertainty.

China’s central bank extends gold-buying spree for eighth straight month

Once plagued by smuggling and unregulated mining, China’s rare earth industry is now a tightly controlled strategic sector and a key lever in Beijing’s global trade diplomacy. Over the past 15 years, China has turned what was once a chaotic network of miners and exporters into a state-dominated supply chain, responsible for 90 per cent of global processing capacity.&nbsp;As per Reuters, the shift has not only curbed environmental damage but also allowed China to weaponise supply chains, most recently during export restrictions in April 2025, which left global automakers scrambling within weeks.<h2>From fragmentation to state-led consolidation</h2>In the early 2000s, China’s rare earth sector resembled the wild west. Hundreds of small-scale miners and processors operated across the country with little oversight. Much of the output bypassed official channels and was smuggled abroad, undermining Beijing’s attempts to regulate exports.&nbsp;According to Reuters, by 2013 just 10 companies controlled most of China’s rare earth mining. Today, that number is down to two powerful, state-owned giants: China Rare Earth Group and China Northern Rare Earth Group High-Tech. This consolidation has given Beijing tighter control over output while addressing rampant illegal mining that had caused significant environmental degradation, as noted by Boise State University’s David Abraham.<h2>Quotas tighten as Beijing slows supply growth</h2>Alongside industry consolidation, China has steadily strengthened its quota regime, capping how much rare earth material can be mined, smelted, and processed each year. These quotas, first introduced in 2006, now serve as a key indicator of global supply expectations. In 2024, only the two state-owned producers received quotas, compared to six companies the previous year.&nbsp;&nbsp;Mining output growth was sharply slowed to just 5.9 per cent in 2024, down from 21.4 per cent in 2023. Reuters reports that quotas this year are expected to either remain flat or rise only marginally, further constraining global access to key materials used in electric vehicles, wind turbines and advanced electronics.<h2>Cracking down on smuggling and magnet tech exports</h2>In 2014, it was estimated that around 40,000 metric tonnes of rare earth oxides were smuggled out of China, more than half the volume of the country’s legal exports. Beijing has since moved aggressively to shut down illegal trade routes and introduce supply chain transparency. Although magnet manufacturing remains more fragmented, with companies like JL Mag Rare-Earth and Ningbo Yunsheng still operating independently, Beijing has now introduced mandatory tracking for rare earth magnet production.&nbsp;&nbsp;As of June 2025, companies must report customer information and transaction volumes, in a bid to oversee end-user access. Moreover, China has long banned the export of rare earth processing technology. That restriction was expanded in late 2023 to cover advanced technologies used in rare earth magnet production, a move that limits other nations’ ability to replicate the full value chain.<h2>A strategic tool in trade disputes</h2>Beijing’s rare earth policy has evolved from reactive to proactive. In 2010, when China cut exports to Japan during a diplomatic spat, smuggling undercut its impact. But in 2025, a similar restriction triggered visible shortages within two months.&nbsp;With China now commanding both the upstream and downstream sides of the rare earth sector, the country holds substantial sway over industries critical to the energy transition and high-tech manufacturing. As per Reuters, this transformation has turned rare earths into a potent geopolitical tool, one that the rest of the world may find increasingly difficult to decouple from. &nbsp;

By transforming a once chaotic rare earth sector into a state controlled powerhouse, China now wields strategic control over materials vital to EVs, wind turbines, and electronics, intensifying global dependence amid rising trade tensions.

Once plagued by smuggling and unregulated mining, China’s rare earth industry is now a tightly controlled strategic sector and a key lever in Beijing’s global trade diplomacy. Over the past 15 years, China has turned what was once a chaotic network of miners and exporters into a state-dominated supply chain, responsible for 90 per cent of global processing capacity. As per Reuters, the shift has not only curbed environmental damage but also allowed China to weaponise supply chains, most recently during export restrictions in April 2025, which left global automakers scrambling within weeks. From fragmentation to state-led consolidation In the early 2000s, China’s rare earth sector resembled the wild west. Hundreds of small-scale miners and processors operated across the country with little oversight. Much of the output bypassed official channels and was smuggled abroad, undermining Beijing’s attempts to regulate exports. According to Reuters, by 2013 just 10 companies controlled most of China’s rare earth mining. Today, that number is down to two powerful, state-owned giants: China Rare Earth Group and China Northern Rare Earth Group High-Tech. This consolidation has given Beijing tighter control over output while addressing rampant illegal mining that had caused significant environmental degradation, as noted by Boise State University’s David Abraham. Quotas tighten as Beijing slows supply growth Alongside industry consolidation, China has steadily strengthened its quota regime, capping how much rare earth material can be mined, smelted, and processed each year. These quotas, first introduced in 2006, now serve as a key indicator of global supply expectations. In 2024, only the two state-owned producers received quotas, compared to six companies the previous year. Mining output growth was sharply slowed to just 5.9 per cent in 2024, down from 21.4 per cent in 2023. Reuters reports that quotas this year are expected to either remain flat or rise only marginally, further constraining global access to key materials used in electric vehicles, wind turbines and advanced electronics. Cracking down on smuggling and magnet tech exports In 2014, it was estimated that around 40,000 metric tonnes of rare earth oxides were smuggled out of China, more than half the volume of the country’s legal exports. Beijing has since moved aggressively to shut down illegal trade routes and introduce supply chain transparency. Although magnet manufacturing remains more fragmented, with companies like JL Mag Rare-Earth and Ningbo Yunsheng still operating independently, Beijing has now introduced mandatory tracking for rare earth magnet production. As of June 2025, companies must report customer information and transaction volumes, in a bid to oversee end-user access. Moreover, China has long banned the export of rare earth processing technology. That restriction was expanded in late 2023 to cover advanced technologies used in rare earth magnet production, a move that limits other nations’ ability to replicate the full value chain. A strategic tool in trade disputes Beijing’s rare earth policy has evolved from reactive to proactive. In 2010, when China cut exports to Japan during a diplomatic spat, smuggling undercut its impact. But in 2025, a similar restriction triggered visible shortages within two months. With China now commanding both the upstream and downstream sides of the rare earth sector, the country holds substantial sway over industries critical to the energy transition and high-tech manufacturing. As per Reuters, this transformation has turned rare earths into a potent geopolitical tool, one that the rest of the world may find increasingly difficult to decouple from.

China’s crackdown on illegal mining and consolidation of its rare earth industry has tightened global supply and heightened its influence over critical green technologies.

How China turned rare earths into a powerful geopolitical tool

Tesla shares came under fresh pressure on Monday after CEO Elon Musk announced plans to launch a new US political party, raising concerns among investors about his focus on the electric vehicle maker as he intensifies his public feud with President Donald Trump. According to Reuters, Tesla’s stock dropped more than 6 per cent in Frankfurt trading, setting the stage for further losses in US markets after the Independence Day holiday.<h2>Musk’s political pivot raises investor alarms</h2>Musk’s announcement that he intends to form the “America Party” marked a new escalation in his increasingly combative relationship with Trump, who swiftly dismissed the idea as “ridiculous.” The move has amplified investor fears that Musk’s attention could be diverted away from Tesla’s business challenges at a critical moment for the company.&nbsp;Veteran technology analyst Dan Ives of Wedbush described Musk as Tesla’s “biggest asset” but warned that wading further into politics risked undermining investor confidence. “Tesla needs Musk as CEO and its biggest asset and not heading down the political route yet again… while at the same time getting on Trump’s bad side,” Ives said in a note, as quoted by Reuters.<h2>Trump lashes out at Musk over new party</h2>The latest spat between Trump and Musk comes after years of an on-again, off-again relationship. While Musk has benefited from government contracts, particularly through SpaceX, the US president slammed Musk’s political ambitions on Sunday. Trump argued that Musk’s plan to form a new party created a conflict of interest, referencing his previous decision to nominate a Musk ally to lead NASA.&nbsp;As per Reuters, Trump’s criticisms signal rising political tension at a time when Musk is facing questions about Tesla’s growth prospects, competition in the EV sector and broader economic uncertainty.<h2>Analysts see risks for Tesla’s board</h2>Ives warned that Tesla’s board might eventually need to intervene if Musk’s political activities become a significant distraction or source of controversy for the company.&nbsp;“It would also not shock us if the Tesla board gets involved at some point given the political nature of this endeavour depending on how far Musk takes it,” Ives added, according to Reuters.Investors are watching closely to see how Musk balances his leadership role at Tesla with his increasingly vocal political activity.<h2>Shares under pressure ahead of US trading</h2>Tesla’s decline in Frankfurt trading suggests investors are bracing for further weakness when US markets reopen after the holiday.&nbsp;As Musk’s political plans take shape, analysts say the key question is whether his focus will remain on steering Tesla through a competitive EV market and ongoing challenges with margins, production costs and global demand.&nbsp;(With inputs from the agencies) &nbsp;

Elon Musk announcement of the America Party fuels a political feud with Trump and sparks fears of distraction from Tesla core challenges, pushing the stock down as investors worry about leadership focus and EV market pressures.

Tesla shares came under fresh pressure on Monday after CEO Elon Musk announced plans to launch a new US political party, raising concerns among investors about his focus on the electric vehicle maker as he intensifies his public feud with President Donald Trump. According to Reuters, Tesla’s stock dropped more than 6 per cent in Frankfurt trading, setting the stage for further losses in US markets after the Independence Day holiday. Musk’s political pivot raises investor alarms Musk’s announcement that he intends to form the “America Party” marked a new escalation in his increasingly combative relationship with Trump, who swiftly dismissed the idea as “ridiculous.” The move has amplified investor fears that Musk’s attention could be diverted away from Tesla’s business challenges at a critical moment for the company. Veteran technology analyst Dan Ives of Wedbush described Musk as Tesla’s “biggest asset” but warned that wading further into politics risked undermining investor confidence. “Tesla needs Musk as CEO and its biggest asset and not heading down the political route yet again… while at the same time getting on Trump’s bad side,” Ives said in a note, as quoted by Reuters. Trump lashes out at Musk over new party The latest spat between Trump and Musk comes after years of an on-again, off-again relationship. While Musk has benefited from government contracts, particularly through SpaceX, the US president slammed Musk’s political ambitions on Sunday. Trump argued that Musk’s plan to form a new party created a conflict of interest, referencing his previous decision to nominate a Musk ally to lead NASA. As per Reuters, Trump’s criticisms signal rising political tension at a time when Musk is facing questions about Tesla’s growth prospects, competition in the EV sector and broader economic uncertainty. Analysts see risks for Tesla’s board Ives warned that Tesla’s board might eventually need to intervene if Musk’s political activities become a significant distraction or source of controversy for the company. “It would also not shock us if the Tesla board gets involved at some point given the political nature of this endeavour depending on how far Musk takes it,” Ives added, according to Reuters. Investors are watching closely to see how Musk balances his leadership role at Tesla with his increasingly vocal political activity. Shares under pressure ahead of US trading Tesla’s decline in Frankfurt trading suggests investors are bracing for further weakness when US markets reopen after the holiday. As Musk’s political plans take shape, analysts say the key question is whether his focus will remain on steering Tesla through a competitive EV market and ongoing challenges with margins, production costs and global demand. (With inputs from the agencies)

Tesla shares slid over 6% after Elon Musk unveiled plans for a new US political party, raising investor concerns about his focus amid rising tensions with Donald Trump.

Tesla shares slide as Musk’s ‘America Party’ plan spooks investors

China’s oil refining industry is confronting yet another challenge: a growing surplus of jet fuel that threatens to squeeze already thin profit margins. Refiners had bet on aviation to offset sliding demand for gasoline and diesel, but now they are faced with more supply than the market can absorb.&nbsp;According to Bloomberg, jet fuel production this year is already exceeding demand by more than 40 per cent, reflecting both structural shifts in transport and slower-than-expected growth in air travel.<h2>Aviation boom turns to bust for refiners</h2>Following the pandemic, China’s refiners saw jet fuel as a lifeline. As road fuel demand was hit by a surge in electric vehicle adoption and a shift by freight operators to alternatives like liquefied natural gas, refiners channelled more output into aviation.&nbsp;However, as per Bloomberg, this strategy is now backfiring. Domestic air travel has rebounded but remains heavily tilted towards short-haul routes, limiting fuel burn. Meanwhile, international travel is still sluggish, failing to pick up the slack needed to balance the market. Kpler analyst Zameer Yusof told Bloomberg that jet fuel became China’s answer to falling gasoline and diesel demand, but “all it did was shift the problem elsewhere.” Kpler expects a surplus of around 390,000 barrels per day this year in China alone.<h2>Longer-term headwinds for demand</h2>Even as air travel is expected to continue growing into 2025, the pace may fall short of what China’s refiners need. Structural changes like the rapid expansion of high-speed rail networks are limiting the growth trajectory for aviation fuel demand.&nbsp;Bloomberg also highlights that newer, more fuel-efficient aircraft and better operational practices by airlines are curbing fuel use per flight. On top of this, the outlook for Chinese consumer spending remains uncertain, adding another layer of caution for refiners banking on domestic travel growth.<h2>Export surge risks regional oversupply</h2>With domestic options limited, China is increasingly pushing excess fuel abroad. Bloomberg notes that June exports were forecast to hit a record 2.6 million tonnes, threatening to displace competing supplies from regions like the Middle East and India.&nbsp;This surge in exports risks spreading China’s refinery overcapacity challenges beyond its borders, adding pressure on regional markets, and potentially sparking new trade tensions.<h2>Refining margins remain under strain</h2>Chinese refiners have faced years of weak margins as demand patterns have shifted. Diesel consumption is believed to have peaked back in 2019, while the electric vehicle boom likely capped gasoline demand growth in 2023.&nbsp;Bloomberg reports that even Beijing’s push to pivot towards producing more petrochemicals has offered little relief. While the government has encouraged investments in ethylene production, a key input for plastics, the sector is now also facing its own oversupply concerns. According to Rystad Energy cited by Bloomberg, China plans to add another 26 million tonnes of ethylene capacity over the next few years, even as global demand remains clouded by a slowing economy.<h2>Tough choices ahead for refiners</h2>Analysts say China’s refiners are now left with few easy options. Domestic fuel demand is plateauing or declining in key segments, export markets are increasingly saturated, and alternative strategies like petrochemical production are hitting limits.&nbsp;With margins under pressure and global competition intensifying, the sector may face further consolidation or restructuring in the years to come as it grapples with deep structural changes in energy use and economic growth patterns.&nbsp;(With inputs from the agencies) &nbsp;

Betting on aviation fuel to offset declining gasoline and diesel demand, China refiners now face a 40% jet fuel oversupply, weakening profits and risking regional trade disruptions amid structural shifts in energy use.

China’s oil refining industry is confronting yet another challenge: a growing surplus of jet fuel that threatens to squeeze already thin profit margins. Refiners had bet on aviation to offset sliding demand for gasoline and diesel, but now they are faced with more supply than the market can absorb. According to Bloomberg, jet fuel production this year is already exceeding demand by more than 40 per cent, reflecting both structural shifts in transport and slower-than-expected growth in air travel. Aviation boom turns to bust for refiners Following the pandemic, China’s refiners saw jet fuel as a lifeline. As road fuel demand was hit by a surge in electric vehicle adoption and a shift by freight operators to alternatives like liquefied natural gas, refiners channelled more output into aviation. However, as per Bloomberg, this strategy is now backfiring. Domestic air travel has rebounded but remains heavily tilted towards short-haul routes, limiting fuel burn. Meanwhile, international travel is still sluggish, failing to pick up the slack needed to balance the market. Kpler analyst Zameer Yusof told Bloomberg that jet fuel became China’s answer to falling gasoline and diesel demand, but “all it did was shift the problem elsewhere.” Kpler expects a surplus of around 390,000 barrels per day this year in China alone. Longer-term headwinds for demand Even as air travel is expected to continue growing into 2025, the pace may fall short of what China’s refiners need. Structural changes like the rapid expansion of high-speed rail networks are limiting the growth trajectory for aviation fuel demand. Bloomberg also highlights that newer, more fuel-efficient aircraft and better operational practices by airlines are curbing fuel use per flight. On top of this, the outlook for Chinese consumer spending remains uncertain, adding another layer of caution for refiners banking on domestic travel growth. Export surge risks regional oversupply With domestic options limited, China is increasingly pushing excess fuel abroad. Bloomberg notes that June exports were forecast to hit a record 2.6 million tonnes, threatening to displace competing supplies from regions like the Middle East and India. This surge in exports risks spreading China’s refinery overcapacity challenges beyond its borders, adding pressure on regional markets, and potentially sparking new trade tensions. Refining margins remain under strain Chinese refiners have faced years of weak margins as demand patterns have shifted. Diesel consumption is believed to have peaked back in 2019, while the electric vehicle boom likely capped gasoline demand growth in 2023. Bloomberg reports that even Beijing’s push to pivot towards producing more petrochemicals has offered little relief. While the government has encouraged investments in ethylene production, a key input for plastics, the sector is now also facing its own oversupply concerns. According to Rystad Energy cited by Bloomberg, China plans to add another 26 million tonnes of ethylene capacity over the next few years, even as global demand remains clouded by a slowing economy. Tough choices ahead for refiners Analysts say China’s refiners are now left with few easy options. Domestic fuel demand is plateauing or declining in key segments, export markets are increasingly saturated, and alternative strategies like petrochemical production are hitting limits. With margins under pressure and global competition intensifying, the sector may face further consolidation or restructuring in the years to come as it grapples with deep structural changes in energy use and economic growth patterns. (With inputs from the agencies)

China’s refiners are grappling with a growing jet fuel surplus as weak international travel and overproduction strain margins and flood export markets.

China’s oil refiners face jet fuel glut as demand disappoints

Gold prices slipped on Monday as investors tracked evolving signals from the United States on trade policy, with a stronger dollar weighing on bullion demand and markets bracing for tariff-related uncertainty. According to Bloomberg, spot gold fell as much as 0.9 per cent to trade near US$3,306 an ounce during Asian hours, paring last week’s gains as traders grew cautious about shifting US trade dynamics and upcoming tariff deadlines.<h2>Dollar gains put pressure on bullion</h2>A mild strengthening of the US dollar reduced gold’s appeal for investors using other currencies. Bloomberg’s Dollar Spot Index edged up 0.1 per cent in Asian trading, limiting bullion’s safe-haven flows.Spot gold was last quoted down 0.8 per cent at US$3,309.31 an ounce in Singapore on Monday morning.&nbsp;The metal had rallied almost 2 per cent last week but is now consolidating as traders reassess risks around global trade negotiations and the timing of new US tariff announcements. Other precious metals also moved lower, with silver, palladium and platinum all posting declines, according to Bloomberg.<h2>Trade tensions keep markets on edge</h2>Investors remain focused on the complex backdrop of US trade negotiations, with Treasury Secretary Scott Bessent over the weekend hinting at the possibility of extending talks with key partners beyond the initial 9 July notification deadline. Commerce Secretary Howard Lutnick confirmed that new country-specific tariffs are scheduled to take effect on 1 August.&nbsp;As per Bloomberg, these shifting timelines have added to market caution, given the potential for tariffs to disrupt global supply chains and weigh on overall economic growth.<h2>Bullion’s strong year-to-date gains</h2>Despite Monday’s decline, gold remains more than 25 per cent higher for the year, trading roughly US$190 below its all-time high set in April. The rally has been underpinned by strong demand from central banks, heightened geopolitical tensions and steady inflows into bullion-backed exchange-traded funds.&nbsp;According to Bloomberg, the safe-haven asset continues to attract investors seeking to hedge against volatility in equities, currencies and commodity markets amid ongoing uncertainty about global economic prospects. With markets sensitive to any updates on US trade negotiations, analysts expect gold to remain volatile in the coming weeks as traders weigh the timing and scope of new tariff measures and broader policy signals from Washington. (With inputs from the agencies)&nbsp;

Gold slipped nearly 1% amid a firmer dollar and market anxiety over shifting US trade policies, though the metal remains up over 25% this year on safe-haven demand and geopolitical risks.

Gold prices slipped on Monday as investors tracked evolving signals from the United States on trade policy, with a stronger dollar weighing on bullion demand and markets bracing for tariff-related uncertainty. According to Bloomberg, spot gold fell as much as 0.9 per cent to trade near US$3,306 an ounce during Asian hours, paring last week’s gains as traders grew cautious about shifting US trade dynamics and upcoming tariff deadlines. Dollar gains put pressure on bullion A mild strengthening of the US dollar reduced gold’s appeal for investors using other currencies. Bloomberg’s Dollar Spot Index edged up 0.1 per cent in Asian trading, limiting bullion’s safe-haven flows. Spot gold was last quoted down 0.8 per cent at US$3,309.31 an ounce in Singapore on Monday morning. The metal had rallied almost 2 per cent last week but is now consolidating as traders reassess risks around global trade negotiations and the timing of new US tariff announcements. Other precious metals also moved lower, with silver, palladium and platinum all posting declines, according to Bloomberg. Trade tensions keep markets on edge Investors remain focused on the complex backdrop of US trade negotiations, with Treasury Secretary Scott Bessent over the weekend hinting at the possibility of extending talks with key partners beyond the initial 9 July notification deadline. Commerce Secretary Howard Lutnick confirmed that new country-specific tariffs are scheduled to take effect on 1 August. As per Bloomberg, these shifting timelines have added to market caution, given the potential for tariffs to disrupt global supply chains and weigh on overall economic growth. Bullion’s strong year-to-date gains Despite Monday’s decline, gold remains more than 25 per cent higher for the year, trading roughly US$190 below its all-time high set in April. The rally has been underpinned by strong demand from central banks, heightened geopolitical tensions and steady inflows into bullion-backed exchange-traded funds. According to Bloomberg, the safe-haven asset continues to attract investors seeking to hedge against volatility in equities, currencies and commodity markets amid ongoing uncertainty about global economic prospects. With markets sensitive to any updates on US trade negotiations, analysts expect gold to remain volatile in the coming weeks as traders weigh the timing and scope of new tariff measures and broader policy signals from Washington. (With inputs from the agencies)

Gold prices dipped as a stronger US dollar and uncertainty around upcoming tariff decisions prompted cautious trading in precious metals.

Gold slips with investors wary of US trade moves and firm dollar

UAE Golden Visa: Indians in most Gulf Arab nations are unable to stay there permanently because of various regulations, but this could be changing for the United Arab Emirates, if a report in Indian media proves to be true. The United Arab Emirates, one of the main destinations of Indian expatriates, has introduced a new nomination-based Golden Visa that will offer lifetime permanent residency, according to a report in the Times of India newspaper.<h2>No need for property of business investment</h2>In UAE, Indians had to invest in either property or business in order to be eligible for permanent residency. The stipulated value of these investments was AED 2 million, or around 4.66 crore rupees. As per the ToI report, now Indians can pay a one-time fee of AED 1,00,000, or around 2.3 million rupees, and be eligible for permanent residency.&nbsp;<h2>What is the new golden visa scheme for UAE permanent residency?</h2>The Golden Visa of UAE is based on nominations, and is subject to fulfilling certain requirements. The main criteria for nomination for permanent residency under the new system include the individual's professional background, contributions to society, or potential impact in UAE's culture, trade, science, startups, or finance, said the report. <a href="https://www.wionews.com/videos/trump-teases-5-million-gold-card-route-to-us-citizenship-should-indian-be-worried-8759550/embed">https://www.wionews.com/videos/trump-teases-5-million-gold-card-route-to-us-citizenship-should-indian-be-worried-8759550/embed</a><h2>The UAE Golden Visa scheme is in pilot stage for India</h2>The UAE Golden Visa scheme has been launched in India on a pilot basis, according to the report, citing Rayad Group, which was selected to manage the process in the country. Rayad Group is working with VFS and One Vasco centres for the programme. More than 5,000 Indians are expected to apply in three months, the report said citing Rayad Group. The pilot phase has also started in Bangladesh.<h2>How to apply for UAE Golden Visa Scheme?</h2>Applications can be uploaded through the online portal and call centre being managed by Rayad Group and VFS. "This is a golden opportunity for Indians," the report quoted Rayad Kamal Ayub, Managing Director of Rayad Group, as saying.&nbsp;<h2>What is the vetting process of UAE Golden Visa Scheme?</h2>The final decision on the Golden Visa nominations will be made by the UAE government. It will be done after a thorough vetting process. This includes checks on money laundering activities, and verification on criminal background as well as screening of social media activity of the applicants.<h2>Benefits of UAE golden visa</h2>Once approved, the UAE Golden Visa holders can bring their families to the UAE and employ staff in the country. They can engage in business or professional activities uninterrupted. The Golden Visa is permanent, unlike earlier property-based visas, said the report.&nbsp;<h2>Another proof of strong India-UAE relations</h2>UAE, particularly Dubai and Abu Dhabi, is one of the favourite destinations of Indian professionals and businesspeople besides blue-colalr workers. The Golden Visa scheme is yet another example of the strong ties of India and UAE. The two countries reached a Comprehensive Economic Partnership Agreement (CEPA) in 2022. The UAE plans to expand the Golden Visa programme to other CEA parners like China in future, according to the report.&nbsp;

 Indians had to invest in either property or business in order to be eligible for permanent residency in the UAE. Now, they can pay a one-time fee be eligible for permanent residency in Golden Visa route.



UAE Golden Visa: Indians in most Gulf Arab nations are unable to stay there permanently because of various regulations, but this could be changing for the United Arab Emirates, if a report in Indian media proves to be true. The United Arab Emirates, one of the main destinations of Indian expatriates, has introduced a new nomination-based Golden Visa that will offer lifetime permanent residency, according to a report in the Times of India newspaper. No need for property of business investment In UAE, Indians had to invest in either property or business in order to be eligible for permanent residency. The stipulated value of these investments was AED 2 million, or around 4.66 crore rupees. As per the ToI report, now Indians can pay a one-time fee of AED 1,00,000, or around 2.3 million rupees, and be eligible for permanent residency. What is the new golden visa scheme for UAE permanent residency? The Golden Visa of UAE is based on nominations, and is subject to fulfilling certain requirements. The main criteria for nomination for permanent residency under the new system include the individual's professional background, contributions to society, or potential impact in UAE's culture, trade, science, startups, or finance, said the report. https://www.wionews.com/videos/trump-teases-5-million-gold-card-route-to-us-citizenship-should-indian-be-worried-8759550/embed The UAE Golden Visa scheme is in pilot stage for India The UAE Golden Visa scheme has been launched in India on a pilot basis, according to the report, citing Rayad Group, which was selected to manage the process in the country. Rayad Group is working with VFS and One Vasco centres for the programme. More than 5,000 Indians are expected to apply in three months, the report said citing Rayad Group. The pilot phase has also started in Bangladesh. How to apply for UAE Golden Visa Scheme? Applications can be uploaded through the online portal and call centre being managed by Rayad Group and VFS. "This is a golden opportunity for Indians," the report quoted Rayad Kamal Ayub, Managing Director of Rayad Group, as saying. What is the vetting process of UAE Golden Visa Scheme? The final decision on the Golden Visa nominations will be made by the UAE government. It will be done after a thorough vetting process. This includes checks on money laundering activities, and verification on criminal background as well as screening of social media activity of the applicants. Benefits of UAE golden visa Once approved, the UAE Golden Visa holders can bring their families to the UAE and employ staff in the country. They can engage in business or professional activities uninterrupted. The Golden Visa is permanent, unlike earlier property-based visas, said the report. Another proof of strong India-UAE relations UAE, particularly Dubai and Abu Dhabi, is one of the favourite destinations of Indian professionals and businesspeople besides blue-colalr workers. The Golden Visa scheme is yet another example of the strong ties of India and UAE. The two countries reached a Comprehensive Economic Partnership Agreement (CEPA) in 2022. The UAE plans to expand the Golden Visa programme to other CEA parners like China in future, according to the report.

&nbsp;Indians had to invest in either property or business in order to be eligible for permanent residency in the UAE. Now, they can pay a one-time fee be eligible for permanent residency in Golden Visa route.&nbsp;

Permanent residency in UAE: In the new Golden Visa route, you don't need to invest in property, can take family, says report

US President Donald Trump escalated his trade offensive on Sunday, vowing to slap an extra 10 per cent tariff on any country “aligning” with the BRICS bloc, a move that sent industrial metals prices lower on Monday and drew condemnation from the grouping of emerging nations. Trump’s threat on his Truth Social account underscored Washington’s increasingly confrontational trade stance as he warned there would be “no exceptions” for countries perceived to be backing what he labelled “anti-American” BRICS policies.&nbsp;According to Bloomberg, the new levy would be on top of existing tariffs, amplifying fears of a deepening global trade war just as negotiations with key partners enter a critical phase.<h2>Industrial metals extend losses on tariff anxiety</h2>Copper and other industrial metals fell as traders reacted to the latest policy uncertainty. Bloomberg reported copper slid 0.5 per cent to US$9,817 a tonne in Shanghai, marking its third consecutive decline after recently touching a three-month high above US$10,000. Aluminium also dropped 0.5 per cent on the London Metal Exchange as the entire industrial metals complex turned negative.&nbsp;While copper prices had been supported by falling global stockpiles and a weaker US dollar, Trump’s threat of punitive tariffs on BRICS countries introduced a new risk to demand prospects, prompting investors to scale back positions.<h2>A direct warning to BRICS nations</h2>Trump’s message specifically targeted the BRICS grouping, which includes Brazil, Russia, India, China and South Africa, accusing its members of promoting anti-American policies.&nbsp;“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Trump wrote on Truth Social.&nbsp;

&nbsp;The threat comes just days before a broader 1 August tariff deadline, with Trump already preparing to notify up to 15 countries of new tariff rates this week. US Treasury Secretary Scott Bessent told CNN that while the revised tariffs would kick in from August, there might still be room for negotiation for some partners before the 9 July cut-off.<h2>BRICS leaders condemn US tariffs</h2>Meanwhile, BRICS leaders meeting at a summit over the weekend condemned what they described as Washington’s “indiscriminate” tariff policies. According to AP, the bloc’s joint declaration raised “serious concerns” about the rise of protectionist measures which they said violated World Trade Organization (WTO) rules, threatening to reduce global trade, disrupt supply chains and create widespread uncertainty.Though the statement avoided naming Trump directly, the criticism was aimed squarely at the mercurial US approach to tariffs, which has oscillated between threats and last-minute deal-making.&nbsp;The BRICS bloc represents roughly half the world’s population and around 40 per cent of global economic output. While politically diverse and often divided on many issues, the group found common ground in pushing back against Trump’s aggressive tariff strategy.<h2>Summit marked by geopolitical tensions</h2>The BRICS summit itself highlighted the group’s complex internal dynamics. Chinese President Xi Jinping skipped the gathering for the first time since coming to power in 2012, while Russian President Vladimir Putin addressed the meeting via videoconference to avoid travelling abroad under an international arrest warrant related to the Ukraine war. The leaders also expressed “grave concern” about the humanitarian crisis in Gaza, called for a ceasefire and reaffirmed their support for a two-state solution.&nbsp;Separately, the bloc offered symbolic backing to Iran, condemning recent Israeli and US strikes on Iranian nuclear and military targets. Iran’s foreign minister told the summit that the consequences of the conflict would not be limited to one country but would damage the entire region, according to AP.<h2>Trade tensions cloud outlook for commodities</h2>The BRICS tariff threat adds yet another layer of uncertainty for commodity markets already grappling with OPEC+ production decisions and broader economic risks. According to Bloomberg, metals prices, which had been resilient thanks to tight inventories and a weaker dollar, now face headwinds as traders assess the impact of a potential fracturing of global trade routes if Trump’s new policy is implemented.&nbsp;With Trump’s wider tariff deadline also approaching on 1 August, investors are bracing for a volatile period where trade headlines could overshadow supply-demand fundamentals, reshaping the outlook for everything from metals to energy.&nbsp;(With inputs from the agencies)&nbsp;

With BRICS condemning US tariff policies and global trade tensions escalating, metal markets, previously buoyed by tight inventories and a weak dollar now confront growing volatility and downside risk.

US President Donald Trump escalated his trade offensive on Sunday, vowing to slap an extra 10 per cent tariff on any country “aligning” with the BRICS bloc, a move that sent industrial metals prices lower on Monday and drew condemnation from the grouping of emerging nations. Trump’s threat on his Truth Social account underscored Washington’s increasingly confrontational trade stance as he warned there would be “no exceptions” for countries perceived to be backing what he labelled “anti-American” BRICS policies. According to Bloomberg, the new levy would be on top of existing tariffs, amplifying fears of a deepening global trade war just as negotiations with key partners enter a critical phase. Industrial metals extend losses on tariff anxiety Copper and other industrial metals fell as traders reacted to the latest policy uncertainty. Bloomberg reported copper slid 0.5 per cent to US$9,817 a tonne in Shanghai, marking its third consecutive decline after recently touching a three-month high above US$10,000. Aluminium also dropped 0.5 per cent on the London Metal Exchange as the entire industrial metals complex turned negative. While copper prices had been supported by falling global stockpiles and a weaker US dollar, Trump’s threat of punitive tariffs on BRICS countries introduced a new risk to demand prospects, prompting investors to scale back positions. A direct warning to BRICS nations Trump’s message specifically targeted the BRICS grouping, which includes Brazil, Russia, India, China and South Africa, accusing its members of promoting anti-American policies. “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Trump wrote on Truth Social.

Metal prices face renewed pressure as BRICS backlash against US tariffs heightens fears of trade disruption ahead of Trump’s 1 August deadline.

Metals tumble as Trump threatens 10% tariff on BRICS-aligned nations

Oil prices fell more than 1 per cent on Monday after OPEC+ announced a larger-than-expected production increase for August, fuelling fears of oversupply at a time when markets are already weighing the risks of slowing demand and economic uncertainty.&nbsp;According to Reuters, the group of oil producers, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, agreed over the weekend to raise output by 548,000 barrels per day (bpd) next month. That figure exceeds previous monthly increases and caught many traders off guard.<h2>Brent and WTI both under pressure</h2>Brent crude futures slipped 80 cents, or 1.2 per cent, to US$67.50 a barrel in early trading, while US West Texas Intermediate (WTI) crude dropped by US$1.32, or 2 per cent, to US$65.68. Analysts said the announcement reflects OPEC+’s willingness to compete more aggressively for market share, even if that means accepting lower prices.&nbsp;“The increased production clearly represents a more aggressive competition for market share and some tolerance for the resulting decline in price and revenue,” said Tim Evans of Evans Energy in a note cited by Reuters.<h2>A significant jump from earlier targets</h2>The decision marks a notable acceleration in production growth. For comparison, OPEC+ had been adding around 411,000 bpd each month for May, June and July. The new target for August is a significant jump from those previous monthly increases and from the 138,000 bpd boost seen in April.OPEC+ justified the move by pointing to a steady global economic outlook and what it described as healthy market fundamentals, including relatively low oil inventories. According to Reuters, the group appears confident that demand can absorb the additional barrels despite lingering concerns over global economic conditions.<h2>Saudi Arabia signals demand confidence</h2>Saudi Arabia, the de facto leader of OPEC, underscored that confidence by raising the official selling price for its flagship Arab Light crude for August deliveries to Asia. Reuters reported this marks a four-month high for the grade, signalling Riyadh’s belief in robust demand from the region despite broader market jitters.&nbsp;Meanwhile, RBC Capital Markets analysts led by Helima Croft noted that nearly 80 per cent of the 2.2 million bpd of voluntary cuts pledged earlier by eight OPEC producers would effectively be reversed with the new decision. However, they also cautioned that in practice, much of the recent supply increases have come primarily from Saudi Arabia, while other members have struggled to ramp up production as planned.<h2>Looking ahead to September</h2>According to Reuters, Goldman Sachs analysts expect OPEC+ to confirm a final planned increase of about 550,000 bpd for September when the group next meets on 3 August. Markets will be watching closely to see whether the bloc sticks to its roadmap or adjusts strategy in response to price movements and demand signals.<h2>Wider backdrop of trade tensions</h2>Oil markets are also navigating the broader economic backdrop, including the prospect of renewed trade tensions as the US prepares to impose higher tariffs on many trading partners.&nbsp;As per Reuters, US President Donald Trump said on Sunday that several trade deals were close to being finalised and that letters would soon be sent to countries facing steeper tariff rates from 1 August, after a temporary pause ends on 9 July. The interplay between production policy, global demand forecasts and geopolitical trade tensions is expected to remain a key driver of oil prices in the weeks ahead.&nbsp;(With inputs from the agencies)&nbsp;

Brent and WTI crude fell sharply as OPEC+ announced a 548,000 bpd production boost for August, exceeding expectations and raising concerns over surplus and slowing demand in a volatile economic climate.

Oil prices fell more than 1 per cent on Monday after OPEC+ announced a larger-than-expected production increase for August, fuelling fears of oversupply at a time when markets are already weighing the risks of slowing demand and economic uncertainty. According to Reuters, the group of oil producers, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, agreed over the weekend to raise output by 548,000 barrels per day (bpd) next month. That figure exceeds previous monthly increases and caught many traders off guard. Brent and WTI both under pressure Brent crude futures slipped 80 cents, or 1.2 per cent, to US$67.50 a barrel in early trading, while US West Texas Intermediate (WTI) crude dropped by US$1.32, or 2 per cent, to US$65.68. Analysts said the announcement reflects OPEC+’s willingness to compete more aggressively for market share, even if that means accepting lower prices. “The increased production clearly represents a more aggressive competition for market share and some tolerance for the resulting decline in price and revenue,” said Tim Evans of Evans Energy in a note cited by Reuters. A significant jump from earlier targets The decision marks a notable acceleration in production growth. For comparison, OPEC+ had been adding around 411,000 bpd each month for May, June and July. The new target for August is a significant jump from those previous monthly increases and from the 138,000 bpd boost seen in April. OPEC+ justified the move by pointing to a steady global economic outlook and what it described as healthy market fundamentals, including relatively low oil inventories. According to Reuters, the group appears confident that demand can absorb the additional barrels despite lingering concerns over global economic conditions. Saudi Arabia signals demand confidence Saudi Arabia, the de facto leader of OPEC, underscored that confidence by raising the official selling price for its flagship Arab Light crude for August deliveries to Asia. Reuters reported this marks a four-month high for the grade, signalling Riyadh’s belief in robust demand from the region despite broader market jitters. Meanwhile, RBC Capital Markets analysts led by Helima Croft noted that nearly 80 per cent of the 2.2 million bpd of voluntary cuts pledged earlier by eight OPEC producers would effectively be reversed with the new decision. However, they also cautioned that in practice, much of the recent supply increases have come primarily from Saudi Arabia, while other members have struggled to ramp up production as planned. Looking ahead to September According to Reuters, Goldman Sachs analysts expect OPEC+ to confirm a final planned increase of about 550,000 bpd for September when the group next meets on 3 August. Markets will be watching closely to see whether the bloc sticks to its roadmap or adjusts strategy in response to price movements and demand signals. Wider backdrop of trade tensions Oil markets are also navigating the broader economic backdrop, including the prospect of renewed trade tensions as the US prepares to impose higher tariffs on many trading partners. As per Reuters, US President Donald Trump said on Sunday that several trade deals were close to being finalised and that letters would soon be sent to countries facing steeper tariff rates from 1 August, after a temporary pause ends on 9 July. The interplay between production policy, global demand forecasts and geopolitical trade tensions is expected to remain a key driver of oil prices in the weeks ahead. (With inputs from the agencies)

Oil prices dropped over 1% after OPEC+ surprised markets with a bigger-than-expected output hike, stoking oversupply fears amid global demand uncertainty.

Oil prices slide as OPEC+ surprises with bigger August output hike

The US dollar hovered near multi-year lows on Monday, with traders growing increasingly cautious ahead of President Donald Trump’s looming tariff deadline. Markets are bracing for fresh trade tensions that could hit global growth and spark renewed volatility.&nbsp;As reported by Reuters, the dollar is trading near its weakest levels since 2021 against the euro and at lows not seen since 2015 versus the Swiss franc. Investors have been cutting dollar positions as the White House’s aggressive tariff plans inject new uncertainty into international trade.<h2>Trade threat weighs on the greenback</h2>Trump’s so-called “Liberation Day” tariff plan is scheduled to move forward on Wednesday, ending a 90-day moratorium that was designed to give trading partners time to negotiate new deals. According to Reuters, only a handful of countries like Britain, China, and Vietnam, have so far struck any form of agreement with Washington.&nbsp;Most other trade partners now face the risk of steep new levies beginning 1 August. As per Reuters, Trump said on Friday he would on Monday identify about a dozen countries that had received formal letters outlining their new tariff rates. That uncertainty has weighed on the dollar, with traders wary that higher tariffs could disrupt trade flows, undermine business confidence and dampen global demand.<h2>Analysts see volatility ahead</h2>Reuters quoted James Kniveton, senior corporate FX dealer at Convera, warning that “market volatility appears inevitable when the pause officially ends and new tariff levels are announced.”&nbsp;Kniveton suggested that the market’s reaction might be more measured than in past tariff rounds, given that this escalation has been widely telegraphed. Still, he cautioned that any surprise moves from the White House could trigger sharp currency swings. According to Reuters, some analysts also see the possibility of a last-minute extension of the deadline if negotiations show progress. But for now, markets are clearly pricing in risk.<h2>Dollar trading near key lows</h2>As per Reuters data, the dollar slipped 0.1 per cent to 0.7939 Swiss franc in early Asian trade on Monday, edging back toward its 1 July low of 0.7869, its weakest level since January 2015. Against the yen, the dollar also fell 0.1 per cent to 144.49.&nbsp;The euro eased slightly to $1.1780, not far from the 1 July peak of $1.1829, its highest since September 2021. Meanwhile, the dollar index, which measures the currency against six major peers including the euro, yen and franc, was flat at 96.967, still close to last week’s 3-1/2-year trough of 96.373.Reuters noted that the greenback’s weakness reflects a combination of factors, including shifting rate expectations and safe-haven flows, but this week the spotlight is squarely on trade policy.<h2>Countdown to tariff decision</h2>Reuters reported that US Treasury Secretary Scott Bessent said on Sunday that several major trade announcements could arrive in the coming days, underscoring the high-stakes negotiations still underway. Trump has repeatedly warned that countries failing to strike deals would see tariff rates revert to levels first announced in April.&nbsp;The White House’s strategy of threatening sharp tariff hikes while offering bespoke trade deals has forced even close allies to scramble for market access, while prompting companies to rethink supply chains and production plans. According to Reuters, traders expect continued uncertainty until there is clarity on whether the deadline will hold, be extended or trigger a new round of tariff escalation. With just days left before the pause ends, currency markets are poised for further swings as they track every development out of Washington.&nbsp;(With inputs from the agencies) &nbsp;

The dollar weakens against major currencies amid growing investor caution over Trump impending tariff hikes, with traders pricing in global trade disruption and market volatility.

The US dollar hovered near multi-year lows on Monday, with traders growing increasingly cautious ahead of President Donald Trump’s looming tariff deadline. Markets are bracing for fresh trade tensions that could hit global growth and spark renewed volatility. As reported by Reuters, the dollar is trading near its weakest levels since 2021 against the euro and at lows not seen since 2015 versus the Swiss franc. Investors have been cutting dollar positions as the White House’s aggressive tariff plans inject new uncertainty into international trade. Trade threat weighs on the greenback Trump’s so-called “Liberation Day” tariff plan is scheduled to move forward on Wednesday, ending a 90-day moratorium that was designed to give trading partners time to negotiate new deals. According to Reuters, only a handful of countries like Britain, China, and Vietnam, have so far struck any form of agreement with Washington. Most other trade partners now face the risk of steep new levies beginning 1 August. As per Reuters, Trump said on Friday he would on Monday identify about a dozen countries that had received formal letters outlining their new tariff rates. That uncertainty has weighed on the dollar, with traders wary that higher tariffs could disrupt trade flows, undermine business confidence and dampen global demand. Analysts see volatility ahead Reuters quoted James Kniveton, senior corporate FX dealer at Convera, warning that “market volatility appears inevitable when the pause officially ends and new tariff levels are announced.” Kniveton suggested that the market’s reaction might be more measured than in past tariff rounds, given that this escalation has been widely telegraphed. Still, he cautioned that any surprise moves from the White House could trigger sharp currency swings. According to Reuters, some analysts also see the possibility of a last-minute extension of the deadline if negotiations show progress. But for now, markets are clearly pricing in risk. Dollar trading near key lows As per Reuters data, the dollar slipped 0.1 per cent to 0.7939 Swiss franc in early Asian trade on Monday, edging back toward its 1 July low of 0.7869, its weakest level since January 2015. Against the yen, the dollar also fell 0.1 per cent to 144.49. The euro eased slightly to $1.1780, not far from the 1 July peak of $1.1829, its highest since September 2021. Meanwhile, the dollar index, which measures the currency against six major peers including the euro, yen and franc, was flat at 96.967, still close to last week’s 3-1/2-year trough of 96.373. Reuters noted that the greenback’s weakness reflects a combination of factors, including shifting rate expectations and safe-haven flows, but this week the spotlight is squarely on trade policy. Countdown to tariff decision Reuters reported that US Treasury Secretary Scott Bessent said on Sunday that several major trade announcements could arrive in the coming days, underscoring the high-stakes negotiations still underway. Trump has repeatedly warned that countries failing to strike deals would see tariff rates revert to levels first announced in April. The White House’s strategy of threatening sharp tariff hikes while offering bespoke trade deals has forced even close allies to scramble for market access, while prompting companies to rethink supply chains and production plans. According to Reuters, traders expect continued uncertainty until there is clarity on whether the deadline will hold, be extended or trigger a new round of tariff escalation. With just days left before the pause ends, currency markets are poised for further swings as they track every development out of Washington. (With inputs from the agencies)

The US dollar is trading near multi-year lows as markets brace for fresh trade tensions ahead of Trump’s looming tariff deadline.

Dollar sinks near multi-year lows as Trump’s tariff deadline looms

The United States has extended its deadline for higher tariffs to take effect, offering a narrow window for its trading partners to finalise new trade agreements and avoid steep duties. President Donald Trump announced on Sunday that the tariff increase would now begin on 1 August, giving countries until 9 July to complete negotiations.&nbsp;As per Reuters, Trump said several trade deals were “close” to being wrapped up in the coming days. The move is part of Washington’s strategy to pressure partners into making concessions while threatening significant economic consequences if talks stall.<h2>Tariffs as bargaining tool</h2>Trump’s tariff policy includes a 10 per cent base rate on most countries, with surcharges reaching as high as 50 per cent. While announced in April, those higher rates were postponed to allow time for negotiations. The new deadline, however, signals the White House’s impatience with what officials have described as slow progress.&nbsp;Commerce Secretary Howard Lutnick told reporters the 1 August start date for higher rates remains in place, but added that Trump is “setting the rates and the deals right now.” This flexible approach is designed to keep trading partners off balance and eager to sign before penalties kick in, as per Reuters.&nbsp;<h2>Letters warn over 100 countries</h2>US Treasury Secretary Scott Bessent said on CNN that the administration would soon send letters to over 100 countries, warning them they could face tariff rates originally set in April but suspended until now.&nbsp;According to Reuters, Bessent predicted a flurry of trade announcements soon, noting that talks with the European Union had made solid progress. The threat of returning to April’s tariff levels is meant to force countries to finalise deals quickly to avoid renewed trade tensions.<h2>Flexibility for willing partners</h2>White House National Economic Council head Kevin Hassett signalled that there could be “wiggle room” for countries negotiating in good faith. Speaking to CBS News, Hassett suggested Trump might offer extra time to partners prepared to make meaningful concessions.&nbsp;Stephen Miran, chairman of the White House Council of Economic Advisers, echoed this optimism in an interview with ABC News. He highlighted positive signals from discussions with Europe and India, saying countries demonstrating goodwill could secure more favourable tariff terms or even a delay in the deadline.<h2>Focus on key trade partners</h2>As per Reuters, the Trump administration is prioritising negotiations with 18 major trading partners accounting for 95 per cent of the US trade deficit. But smaller economies are also being pressed to strike deals quickly.&nbsp;Thailand, for example, is scrambling to avoid a 36 per cent tariff. The country’s finance minister told Bloomberg News it will offer greater market access for US agricultural and industrial goods, while promising increased purchases of US energy and Boeing jets.<h2>India deal seen nearing conclusion</h2>India is also racing to finalise an agreement. According to CNBC-TV18, India and the United States could announce a mini trade deal within the next two days. The average tariff on Indian goods shipped to the US is expected to settle at around 10 per cent if the deal is concluded, potentially sparing both economies deeper disruption.&nbsp;&nbsp;White House officials are pointing to framework deals with Britain and Vietnam as models for these negotiations. Hassett argued these arrangements show Trump’s tariff threats are pushing manufacturing and investment back to the United States.<h2>High-stakes strategy</h2>Miran praised the deal with Vietnam as highly favourable to the United States. He described it as “extremely one-sided,” allowing Washington to impose significant tariffs on Vietnamese exports while enjoying near-zero tariffs on American goods in return. Trump’s approach, combining aggressive deadlines with the promise of tailored deals, is classic high-stakes negotiation. By delaying the tariff hike while warning of its swift return, the White House message is clear: sign now or pay later.&nbsp;Whether this strategy will deliver durable agreements or provoke fresh trade tensions remains to be seen. For now, the world’s major economies have just weeks to avoid the next phase of Washington’s tariff escalation.&nbsp;(With inputs from the agencies)

President Trump extends the tariff deadline, intensifying pressure on over 100 nations, including India and the EU to finalise trade deals or face renewed economic penalties.

The United States has extended its deadline for higher tariffs to take effect, offering a narrow window for its trading partners to finalise new trade agreements and avoid steep duties. President Donald Trump announced on Sunday that the tariff increase would now begin on 1 August, giving countries until 9 July to complete negotiations. As per Reuters, Trump said several trade deals were “close” to being wrapped up in the coming days. The move is part of Washington’s strategy to pressure partners into making concessions while threatening significant economic consequences if talks stall. Tariffs as bargaining tool Trump’s tariff policy includes a 10 per cent base rate on most countries, with surcharges reaching as high as 50 per cent. While announced in April, those higher rates were postponed to allow time for negotiations. The new deadline, however, signals the White House’s impatience with what officials have described as slow progress. Commerce Secretary Howard Lutnick told reporters the 1 August start date for higher rates remains in place, but added that Trump is “setting the rates and the deals right now.” This flexible approach is designed to keep trading partners off balance and eager to sign before penalties kick in, as per Reuters. Letters warn over 100 countries US Treasury Secretary Scott Bessent said on CNN that the administration would soon send letters to over 100 countries, warning them they could face tariff rates originally set in April but suspended until now. According to Reuters, Bessent predicted a flurry of trade announcements soon, noting that talks with the European Union had made solid progress. The threat of returning to April’s tariff levels is meant to force countries to finalise deals quickly to avoid renewed trade tensions. Flexibility for willing partners White House National Economic Council head Kevin Hassett signalled that there could be “wiggle room” for countries negotiating in good faith. Speaking to CBS News, Hassett suggested Trump might offer extra time to partners prepared to make meaningful concessions. Stephen Miran, chairman of the White House Council of Economic Advisers, echoed this optimism in an interview with ABC News. He highlighted positive signals from discussions with Europe and India, saying countries demonstrating goodwill could secure more favourable tariff terms or even a delay in the deadline. Focus on key trade partners As per Reuters, the Trump administration is prioritising negotiations with 18 major trading partners accounting for 95 per cent of the US trade deficit. But smaller economies are also being pressed to strike deals quickly. Thailand, for example, is scrambling to avoid a 36 per cent tariff. The country’s finance minister told Bloomberg News it will offer greater market access for US agricultural and industrial goods, while promising increased purchases of US energy and Boeing jets. India deal seen nearing conclusion India is also racing to finalise an agreement. According to CNBC-TV18, India and the United States could announce a mini trade deal within the next two days. The average tariff on Indian goods shipped to the US is expected to settle at around 10 per cent if the deal is concluded, potentially sparing both economies deeper disruption. White House officials are pointing to framework deals with Britain and Vietnam as models for these negotiations. Hassett argued these arrangements show Trump’s tariff threats are pushing manufacturing and investment back to the United States. High-stakes strategy Miran praised the deal with Vietnam as highly favourable to the United States. He described it as “extremely one-sided,” allowing Washington to impose significant tariffs on Vietnamese exports while enjoying near-zero tariffs on American goods in return. Trump’s approach, combining aggressive deadlines with the promise of tailored deals, is classic high-stakes negotiation. By delaying the tariff hike while warning of its swift return, the White House message is clear: sign now or pay later. Whether this strategy will deliver durable agreements or provoke fresh trade tensions remains to be seen. For now, the world’s major economies have just weeks to avoid the next phase of Washington’s tariff escalation. (With inputs from the agencies)

The US has delayed its tariff hike to August 1, using the threat of steep duties to pressure global partners into swift trade concessions.

Trump delays tariff hike to August 1, urges quick trade deals

South Korea is making a last-ditch effort to avert sweeping new US tariffs, as officials from Seoul and Washington race to extend a looming deadline for finalising trade deals. According to a statement from South Korea’s industry ministry, Trade Minister Yeo Han-koo met US Trade Representative Jamieson Greer in Washington on Saturday, urging an extension of the 9 July deadline while proposing new manufacturing partnerships aimed at avoiding tariffs on key exports such as automobiles and steel, as per Bloomberg.&nbsp;&nbsp;The meeting underscores growing anxiety in Seoul over President Donald Trump’s threat to impose 25 per cent across-the-board tariffs as early as next month, a move that could hit South Korea’s vital manufacturing sector hard. Trump has warned that the United States would issue letters to trading partners confirming new unilateral tariff rates that would take effect on 1 August.<h2>South Korea pitches manufacturing partnerships</h2>South Korea’s industry ministry said Yeo outlined a “mutually beneficial” framework for industrial cooperation, intended to strengthen bilateral supply chains while calling for the elimination or reduction of tariffs on major export products. As per the ministry’s statement, both sides agreed they had conducted “good faith” negotiations for a month following South Korea’s recent change in government, but acknowledged that more work was needed to bridge remaining differences, as per Bloomberg.&nbsp;&nbsp;Yeo’s appeal marks an urgent diplomatic push by Seoul to protect its economy, which is already grappling with weak domestic consumption. South Korea’s central bank cut its GDP growth forecast for 2025 to 0.8 per cent in May, down from 1.5 per cent previously.<h2>Seoul ramps up diplomatic outreach</h2>The talks in Washington represented Yeo’s second trip to the United States in just over a week, a sign of Seoul’s determination to revive stalled negotiations following a period of political turmoil at home.&nbsp;President Lee Jae Myung took office last month after winning a snap election triggered by the ousting of Yoon Suk Yeol. Yoon’s imposition of martial law late last year led to the country’s worst political crisis in decades and created a leadership vacuum that delayed key policy negotiations, including trade. South Korean officials appear to be working quickly to re-establish momentum. Lee’s national security adviser, Wi Sung-lac, also departed for Washington on Sunday for meetings with US Secretary of State Marco Rubio, who is also serving as acting national security adviser.<h2>High stakes for South Korea’s economy</h2>Speaking with reporters before leaving Seoul, Wi described the negotiations as being in a “critical phase” and said he would seek to arrange an initial summit between President Lee and President Trump while also discussing broader security and bilateral issues, as per Bloomberg.&nbsp;&nbsp;South Korea is a major US ally and a global manufacturing powerhouse, exporting cars, semiconductors and batteries. The threat of 25 per cent tariffs on its goods has alarmed industry leaders, who warn such levies would further undermine an already sluggish economy. By pushing for an extension to the deadline, Seoul hopes to buy time to secure a deal that would limit or eliminate the threatened tariffs and provide stability for its exporters.&nbsp;(With inputs from the agencies) &nbsp;

With President Trump threatening 25% tariffs effective 1 August, South Korea economy is at risk. Trade Minister Yeo Han koo emphasized a framework for industrial cooperation, while the recent political shift adds urgency to re-establish negotiations and secure a favorable outcome.

South Korea is making a last-ditch effort to avert sweeping new US tariffs, as officials from Seoul and Washington race to extend a looming deadline for finalising trade deals. According to a statement from South Korea’s industry ministry, Trade Minister Yeo Han-koo met US Trade Representative Jamieson Greer in Washington on Saturday, urging an extension of the 9 July deadline while proposing new manufacturing partnerships aimed at avoiding tariffs on key exports such as automobiles and steel, as per Bloomberg. The meeting underscores growing anxiety in Seoul over President Donald Trump’s threat to impose 25 per cent across-the-board tariffs as early as next month, a move that could hit South Korea’s vital manufacturing sector hard. Trump has warned that the United States would issue letters to trading partners confirming new unilateral tariff rates that would take effect on 1 August. South Korea pitches manufacturing partnerships South Korea’s industry ministry said Yeo outlined a “mutually beneficial” framework for industrial cooperation, intended to strengthen bilateral supply chains while calling for the elimination or reduction of tariffs on major export products. As per the ministry’s statement, both sides agreed they had conducted “good faith” negotiations for a month following South Korea’s recent change in government, but acknowledged that more work was needed to bridge remaining differences, as per Bloomberg. Yeo’s appeal marks an urgent diplomatic push by Seoul to protect its economy, which is already grappling with weak domestic consumption. South Korea’s central bank cut its GDP growth forecast for 2025 to 0.8 per cent in May, down from 1.5 per cent previously. Seoul ramps up diplomatic outreach The talks in Washington represented Yeo’s second trip to the United States in just over a week, a sign of Seoul’s determination to revive stalled negotiations following a period of political turmoil at home. President Lee Jae Myung took office last month after winning a snap election triggered by the ousting of Yoon Suk Yeol. Yoon’s imposition of martial law late last year led to the country’s worst political crisis in decades and created a leadership vacuum that delayed key policy negotiations, including trade. South Korean officials appear to be working quickly to re-establish momentum. Lee’s national security adviser, Wi Sung-lac, also departed for Washington on Sunday for meetings with US Secretary of State Marco Rubio, who is also serving as acting national security adviser. High stakes for South Korea’s economy Speaking with reporters before leaving Seoul, Wi described the negotiations as being in a “critical phase” and said he would seek to arrange an initial summit between President Lee and President Trump while also discussing broader security and bilateral issues, as per Bloomberg. South Korea is a major US ally and a global manufacturing powerhouse, exporting cars, semiconductors and batteries. The threat of 25 per cent tariffs on its goods has alarmed industry leaders, who warn such levies would further undermine an already sluggish economy. By pushing for an extension to the deadline, Seoul hopes to buy time to secure a deal that would limit or eliminate the threatened tariffs and provide stability for its exporters. (With inputs from the agencies)

South Korea is urgently attempting to prevent new US tariffs by seeking to extend the 9 July deadline for trade deal finalizations.

South Korea urges US trade deadline extension as tariff threat looms

Beijing has announced new restrictions on European Union medical device firms, marking a sharp escalation in trade tensions over market access for government procurement contracts. According to a statement from China’s Ministry of Finance, companies based in the European Union will face restrictions on participating in government procurements for certain medical devices valued over 45 million yuan ($6.3 million). The new measures will take effect on Sunday.&nbsp;As reported by Bloomberg, the move is described as a reciprocal measure responding to recent European Union actions aimed at limiting Chinese companies’ access to lucrative public tenders for medical equipment within the bloc.<h2>EU’s procurement restrictions</h2>The European Union in June agreed by a wide margin to introduce limits on Chinese medical device manufacturers seeking public procurement contracts in Europe. According to Bloomberg, people familiar with those discussions said the EU aimed to curb Chinese firms’ market share, citing concerns over unfair competition and limited reciprocal access for European companies in China.&nbsp;This EU policy move was seen as part of a broader strategy to level the playing field, given that European suppliers have often struggled to win large-scale Chinese government contracts despite Beijing’s own firms having significant sales opportunities in Europe.<h2>China calls its move ‘reciprocal’</h2>China’s finance ministry labelled its new policy as reciprocal curbs, highlighting what it views as an imbalance in market access. The ministry’s statement underlines Beijing’s increasing willingness to retaliate directly against what it sees as protectionist policies targeting its exporters.&nbsp;The ban will apply to government procurements exceeding 45 million yuan for designated categories of medical devices, although the finance ministry did not publicly specify which devices would be affected.<h2>Rising trade tensions</h2>The procurement fight adds to a growing list of economic tensions between China and the European Union, ranging from clean-technology subsidies to electric vehicle tariffs. The EU has launched several trade investigations targeting Chinese products, including probes into subsidies for EV manufacturers, moves that Beijing has criticised as discriminatory.&nbsp;As per Bloomberg, the latest procurement restrictions signal that China is willing to hit back sector by sector if European governments move to shut Chinese companies out of their own markets.<h2>Outlook for EU–China trade ties</h2>This tit-for-tat approach is expected to further complicate trade negotiations between Brussels and Beijing. European officials have insisted their measures are about ensuring fair competition rather than blanket protectionism, but China has accused the EU of politicising trade. The new procurement rules mark a significant symbolic shift as well: for years, European companies have called for greater access to China’s vast government procurement market, which remains tightly controlled despite Beijing’s pledges of openness.&nbsp;As the new Chinese restrictions take effect this week, both sides appear to be hardening their stance, making any swift resolution to these procurement disputes increasingly unlikely.&nbsp;(With inputs from the agencies) &nbsp;

These reciprocal measures follow the EU limitations on Chinese manufacturers seeking public contracts. China finance ministry emphasized market access imbalances, indicating readiness to retaliate against perceived protectionism. 

Beijing has announced new restrictions on European Union medical device firms, marking a sharp escalation in trade tensions over market access for government procurement contracts. According to a statement from China’s Ministry of Finance, companies based in the European Union will face restrictions on participating in government procurements for certain medical devices valued over 45 million yuan ($6.3 million). The new measures will take effect on Sunday. As reported by Bloomberg, the move is described as a reciprocal measure responding to recent European Union actions aimed at limiting Chinese companies’ access to lucrative public tenders for medical equipment within the bloc. EU’s procurement restrictions The European Union in June agreed by a wide margin to introduce limits on Chinese medical device manufacturers seeking public procurement contracts in Europe. According to Bloomberg, people familiar with those discussions said the EU aimed to curb Chinese firms’ market share, citing concerns over unfair competition and limited reciprocal access for European companies in China. This EU policy move was seen as part of a broader strategy to level the playing field, given that European suppliers have often struggled to win large-scale Chinese government contracts despite Beijing’s own firms having significant sales opportunities in Europe. China calls its move ‘reciprocal’ China’s finance ministry labelled its new policy as reciprocal curbs, highlighting what it views as an imbalance in market access. The ministry’s statement underlines Beijing’s increasing willingness to retaliate directly against what it sees as protectionist policies targeting its exporters. The ban will apply to government procurements exceeding 45 million yuan for designated categories of medical devices, although the finance ministry did not publicly specify which devices would be affected. Rising trade tensions The procurement fight adds to a growing list of economic tensions between China and the European Union, ranging from clean-technology subsidies to electric vehicle tariffs. The EU has launched several trade investigations targeting Chinese products, including probes into subsidies for EV manufacturers, moves that Beijing has criticised as discriminatory. As per Bloomberg, the latest procurement restrictions signal that China is willing to hit back sector by sector if European governments move to shut Chinese companies out of their own markets. Outlook for EU–China trade ties This tit-for-tat approach is expected to further complicate trade negotiations between Brussels and Beijing. European officials have insisted their measures are about ensuring fair competition rather than blanket protectionism, but China has accused the EU of politicising trade. The new procurement rules mark a significant symbolic shift as well: for years, European companies have called for greater access to China’s vast government procurement market, which remains tightly controlled despite Beijing’s pledges of openness. As the new Chinese restrictions take effect this week, both sides appear to be hardening their stance, making any swift resolution to these procurement disputes increasingly unlikely. (With inputs from the agencies)

China will implement new restrictions on EU medical device firms, restricting government procurement contracts for devices over 45 million yuan ($6.3 million) due to escalating trade tensions.

China hits reciprocal curbs on EU medical device contracts

Canada is preparing for potential financial intervention in its aluminium industry, as the fallout from President Donald Trump’s steep US tariffs risks deepening into a full-blown trade standoff. As per Reuters, early-stage discussions are underway within Ottawa to support large aluminium producers, including Rio Tinto, should Washington’s 50 per cent tariff on aluminium imports remain in place beyond the near term.&nbsp;Jean Simard, CEO of the Aluminium Association of Canada, confirmed the deliberations in an interview on Saturday, stating that “everything is on the table” if no deal is reached with the US by July 21. “With the 50% tariff in effect since June 4, it’s normal that there are discussions about the impact on business liquidity if the situation persists,” Simard told Reuters.<h2>Tariffs double under Trump as trade tensions rise</h2>The US president’s decision last month to double steel and aluminium tariffs from 25 to 50 per cent marks a dramatic escalation in his broader trade agenda. Washington claims the measures are aimed at boosting domestic production of strategic industrial materials — but they’ve triggered strong backlash from allies like Canada.&nbsp;Over half of all aluminium consumed in the United States is imported, and Canada is its largest supplier, exporting over 3.2 million tonnes of the metal to its southern neighbour in 2024, according to industry data. Major Canadian aluminium firms, including Rio Tinto, do not currently face liquidity concerns. However, sustained tariffs at 50 per cent would severely squeeze their cash flows and long-term competitiveness, said Simard.<h2>Ottawa in talks with Rio Tinto</h2>According to Reuters, Canadian federal industry minister Mélanie Joly has privately confirmed discussions with Rio Tinto regarding financial assistance. The company has so far declined to comment on the negotiations. Joly’s office issued a statement Saturday saying the government is in “active conversations” on how best to support the aluminium sector in light of “unjustified American tariffs”, with the broader goal of safeguarding jobs and encouraging future investment, as quoted by Reuters.&nbsp;&nbsp;Canada recently dropped plans to impose a digital services tax on American tech firms, a goodwill move to keep trade negotiations with Washington alive. However, aluminium has emerged as a major sticking point.<h2>No deal yet, but time is running out</h2>The Canadian government hopes to reach a tariff resolution with the US before the July 21 deadline, but officials acknowledge that uncertainty remains high. If no breakthrough is achieved, Canadian officials warn that retaliatory or compensatory measures may need to be considered. Simard noted that financial support would only be one part of a broader industrial response to offset the tariffs’ effects.&nbsp;The rising friction comes amid a broader reshuffling of global trade dynamics, with Washington now simultaneously clashing with both China and its traditional allies over market access and industrial policy. For now, Canada’s aluminium giants and the tens of thousands of workers in the sector, await clarity as talks continue behind closed doors.&nbsp;(With inputs from the agencies)&nbsp;

Federal Minister Mélanie Joly has confirmed talks with Rio Tinto on assistance, aiming to protect jobs and investments amidst rising US-Canada trade tensions over aluminium.

Canada is preparing for potential financial intervention in its aluminium industry, as the fallout from President Donald Trump’s steep US tariffs risks deepening into a full-blown trade standoff. As per Reuters, early-stage discussions are underway within Ottawa to support large aluminium producers, including Rio Tinto, should Washington’s 50 per cent tariff on aluminium imports remain in place beyond the near term. Jean Simard, CEO of the Aluminium Association of Canada, confirmed the deliberations in an interview on Saturday, stating that “everything is on the table” if no deal is reached with the US by July 21. “With the 50% tariff in effect since June 4, it’s normal that there are discussions about the impact on business liquidity if the situation persists,” Simard told Reuters. Tariffs double under Trump as trade tensions rise The US president’s decision last month to double steel and aluminium tariffs from 25 to 50 per cent marks a dramatic escalation in his broader trade agenda. Washington claims the measures are aimed at boosting domestic production of strategic industrial materials — but they’ve triggered strong backlash from allies like Canada. Over half of all aluminium consumed in the United States is imported, and Canada is its largest supplier, exporting over 3.2 million tonnes of the metal to its southern neighbour in 2024, according to industry data. Major Canadian aluminium firms, including Rio Tinto, do not currently face liquidity concerns. However, sustained tariffs at 50 per cent would severely squeeze their cash flows and long-term competitiveness, said Simard. Ottawa in talks with Rio Tinto According to Reuters, Canadian federal industry minister Mélanie Joly has privately confirmed discussions with Rio Tinto regarding financial assistance. The company has so far declined to comment on the negotiations. Joly’s office issued a statement Saturday saying the government is in “active conversations” on how best to support the aluminium sector in light of “unjustified American tariffs”, with the broader goal of safeguarding jobs and encouraging future investment, as quoted by Reuters. Canada recently dropped plans to impose a digital services tax on American tech firms, a goodwill move to keep trade negotiations with Washington alive. However, aluminium has emerged as a major sticking point. No deal yet, but time is running out The Canadian government hopes to reach a tariff resolution with the US before the July 21 deadline, but officials acknowledge that uncertainty remains high. If no breakthrough is achieved, Canadian officials warn that retaliatory or compensatory measures may need to be considered. Simard noted that financial support would only be one part of a broader industrial response to offset the tariffs’ effects. The rising friction comes amid a broader reshuffling of global trade dynamics, with Washington now simultaneously clashing with both China and its traditional allies over market access and industrial policy. For now, Canada’s aluminium giants and the tens of thousands of workers in the sector, await clarity as talks continue behind closed doors. (With inputs from the agencies)

Canada is contemplating financial intervention in its aluminium sector due to President Trump's 50% tariffs, which could lead to a trade standoff.

Canada may offer financial aid to aluminium producers if 50% US tariffs remain

India’s markets regulator has delivered one of its most dramatic enforcement actions in recent memory, banning US-based trading giant Jane Street from accessing Indian markets over what it reportedly calls “manipulative” and “fraudulent” trading in one of the country’s most-watched indices. The Securities and Exchange Board of India (SEBI) issued an interim order on July 3 that temporarily bars Jane Street’s India entities and reportedly seeks to recover over ₹4,840 crore ($580 million) in what it describes as illicit profits. The move has ignited debate about the vulnerability of India’s retail investors, especially in the booming derivatives market.&nbsp;According to SEBI’s 105-page order, Jane Street used aggressive, high-frequency trading strategies to push up the price of the Nifty Bank index on weekly expiry days, then reversed those moves to profit from options positions that benefited from the engineered volatility, as per reports.&nbsp;<h2>Who is Jane Street?</h2>Jane Street is a giant of global finance, reportedly known for its secretive and highly sophisticated trading operations. Founded in New York in 2000, the firm now has over 2,600 employees worldwide and is active in more than 45 countries. It’s reportedly renowned for its proprietary trading, using its own capital, rather than client money, to place enormous algorithmic bets on everything from stocks to bonds to currencies.&nbsp;As per reports, Jane Street only entered the Indian market in 2020, operating through multiple local subsidiaries and a local brokerage partner to comply with India’s rules. In 2024 alone, the firm is reported to have earned a stunning $20.5 billion in net income globally, an amount comparable to the annual profit of Wall Street giants like Citi and Bank of America combined.<h2>Why did SEBI take action?</h2>According to reports, SEBI alleged that Jane Street entities exploited the structure of India’s derivatives market, particularly the Bank Nifty index options, to carry out what it calls a classic “pump and dump” scheme. According to SEBI, Jane Street would reportedly aggressively buy certain bank stocks in the morning session on weekly expiry days, especially heavyweights like HDFC Bank, ICICI Bank, and Kotak Bank, which together make up over 60% of the index weighting. These purchases reportedly pushed up the Bank Nifty index itself, inflating the prices of options the firm already held.&nbsp;Once prices hit desired levels, Jane Street allegedly reversed its cash trades, taking profits on its options while leaving other market participants, particularly retail investors, reportedly facing sharp losses when the index fell back. Over a two-year period between January 2023 and March 2025, as per reports, SEBI claims this strategy earned Jane Street’s India entities over ₹43,000 crore ($5.16 billion) in options profits, with around ₹36,500 crore ($4.38 billion) of that coming from just 21 trading days.<h2>What triggered this?</h2>One day in particular appears to have set off regulatory alarm bells. On January 17, 2024, Jane Street reportedly made ₹735 crore ($88 million) in profit from Bank Nifty options in a single session, following extreme volatility in the index. According to reports, the index plunged by over 2,200 points in the first seven minutes of trade, prompting SEBI to launch closer surveillance of the firm.&nbsp;SEBI alleges that even after being warned to stop in February 2025, Jane Street reportedly resumed the strategy on weekly expiries in May 2025. As per reporting by The New Indian Express, SEBI officials described this as “the last nail in the coffin” that forced them to act.<h2>The scale of retail investor losses</h2>This crackdown also reportedly exposes uncomfortable questions about India’s booming retail participation in derivatives. According to SEBI’s own 2023 study, 93% of retail traders lose money in the options market, with the average loss exceeding ₹1.25 lakh ($1,500) per trader in FY24.&nbsp;SEBI argues that this dynamic reportedly made retail investors especially vulnerable to manipulation of the sort it alleges Jane Street carried out. The Nifty Bank index is reportedly among the most actively traded derivatives in the world. The National Stock Exchange (NSE) handles around 60% of global equity derivative trading volumes, making India the largest derivatives market on earth.<h2>Why was it only an interim order?</h2>SEBI has reportedly described its order as interim, meaning the ban will remain in force until a final order is issued or courts decide otherwise. According to reports, the regulator has defended this urgency on the grounds that delaying action would allow Jane Street to continue extracting illicit gains at the expense of retail investors.&nbsp;Reports say that SEBI had to process massive volumes of trade data from the NSE and other intermediaries to establish patterns of manipulation. The complexity of Jane Street’s alleged strategies required extensive forensic work to ensure the case was robust enough to withstand legal challenges.<h2>What happens next?</h2>Jane Street can contest SEBI’s order before India’s Securities Appellate Tribunal (SAT), the High Court, or even the Supreme Court. The order itself notes that the firm has the right to a hearing before any final decision is taken.&nbsp;Meanwhile, SEBI has reportedly impounded over ₹4,840 crore ($580 million) in what it claims are unlawful profits. Reports suggest the regulator is seeking to recover these gains from Jane Street’s government securities holdings in India.&nbsp;(With inputs from the agencies) &nbsp;

SEBI order remains interim, and Jane Street can contest it before relevant legal bodies. The crackdown raises concerns about retail investor vulnerability in a booming derivatives market.

India’s markets regulator has delivered one of its most dramatic enforcement actions in recent memory, banning US-based trading giant Jane Street from accessing Indian markets over what it reportedly calls “manipulative” and “fraudulent” trading in one of the country’s most-watched indices. The Securities and Exchange Board of India (SEBI) issued an interim order on July 3 that temporarily bars Jane Street’s India entities and reportedly seeks to recover over ₹4,840 crore ($580 million) in what it describes as illicit profits. The move has ignited debate about the vulnerability of India’s retail investors, especially in the booming derivatives market. According to SEBI’s 105-page order, Jane Street used aggressive, high-frequency trading strategies to push up the price of the Nifty Bank index on weekly expiry days, then reversed those moves to profit from options positions that benefited from the engineered volatility, as per reports. Who is Jane Street? Jane Street is a giant of global finance, reportedly known for its secretive and highly sophisticated trading operations. Founded in New York in 2000, the firm now has over 2,600 employees worldwide and is active in more than 45 countries. It’s reportedly renowned for its proprietary trading, using its own capital, rather than client money, to place enormous algorithmic bets on everything from stocks to bonds to currencies. As per reports, Jane Street only entered the Indian market in 2020, operating through multiple local subsidiaries and a local brokerage partner to comply with India’s rules. In 2024 alone, the firm is reported to have earned a stunning $20.5 billion in net income globally, an amount comparable to the annual profit of Wall Street giants like Citi and Bank of America combined. Why did SEBI take action? According to reports, SEBI alleged that Jane Street entities exploited the structure of India’s derivatives market, particularly the Bank Nifty index options, to carry out what it calls a classic “pump and dump” scheme. According to SEBI, Jane Street would reportedly aggressively buy certain bank stocks in the morning session on weekly expiry days, especially heavyweights like HDFC Bank, ICICI Bank, and Kotak Bank, which together make up over 60% of the index weighting. These purchases reportedly pushed up the Bank Nifty index itself, inflating the prices of options the firm already held. Once prices hit desired levels, Jane Street allegedly reversed its cash trades, taking profits on its options while leaving other market participants, particularly retail investors, reportedly facing sharp losses when the index fell back. Over a two-year period between January 2023 and March 2025, as per reports, SEBI claims this strategy earned Jane Street’s India entities over ₹43,000 crore ($5.16 billion) in options profits, with around ₹36,500 crore ($4.38 billion) of that coming from just 21 trading days. What triggered this? One day in particular appears to have set off regulatory alarm bells. On January 17, 2024, Jane Street reportedly made ₹735 crore ($88 million) in profit from Bank Nifty options in a single session, following extreme volatility in the index. According to reports, the index plunged by over 2,200 points in the first seven minutes of trade, prompting SEBI to launch closer surveillance of the firm. SEBI alleges that even after being warned to stop in February 2025, Jane Street reportedly resumed the strategy on weekly expiries in May 2025. As per reporting by The New Indian Express, SEBI officials described this as “the last nail in the coffin” that forced them to act. The scale of retail investor losses This crackdown also reportedly exposes uncomfortable questions about India’s booming retail participation in derivatives. According to SEBI’s own 2023 study, 93% of retail traders lose money in the options market, with the average loss exceeding ₹1.25 lakh ($1,500) per trader in FY24. SEBI argues that this dynamic reportedly made retail investors especially vulnerable to manipulation of the sort it alleges Jane Street carried out. The Nifty Bank index is reportedly among the most actively traded derivatives in the world. The National Stock Exchange (NSE) handles around 60% of global equity derivative trading volumes, making India the largest derivatives market on earth. Why was it only an interim order? SEBI has reportedly described its order as interim, meaning the ban will remain in force until a final order is issued or courts decide otherwise. According to reports, the regulator has defended this urgency on the grounds that delaying action would allow Jane Street to continue extracting illicit gains at the expense of retail investors. Reports say that SEBI had to process massive volumes of trade data from the NSE and other intermediaries to establish patterns of manipulation. The complexity of Jane Street’s alleged strategies required extensive forensic work to ensure the case was robust enough to withstand legal challenges. What happens next? Jane Street can contest SEBI’s order before India’s Securities Appellate Tribunal (SAT), the High Court, or even the Supreme Court. The order itself notes that the firm has the right to a hearing before any final decision is taken. Meanwhile, SEBI has reportedly impounded over ₹4,840 crore ($580 million) in what it claims are unlawful profits. Reports suggest the regulator is seeking to recover these gains from Jane Street’s government securities holdings in India. (With inputs from the agencies)

SEBI, has banned US-based trading firm Jane Street from Indian markets due to alleged manipulative trading in the Nifty Bank index.

Jane Street banned in India: Why SEBI cracked down on the Wall Street giant

The United States is confronting a stubborn new divide in its labour market: young college graduates are facing their highest unemployment rate in over a decade (outside the pandemic), even as the overall jobless rate stays historically low. According to data reported by AFP and official US sources, unemployment for recent college graduates aged 22 to 27 reached 5.8 per cent in May 2025, the worst level since November 2013 excluding Covid-era spikes. By contrast, the US overall unemployment rate has remained steady near 4.1 per cent in June 2025, according to Bureau of Labor Statistics (BLS) data.&nbsp;This widening gap is raising alarm that America’s post-pandemic recovery is leaving many young workers behind, with policy uncertainty, sectoral slowdowns and technological disruption hitting entry-level jobs especially hard.<h2>Post-Trump policy uncertainty weighs on hiring</h2>Economists point to cyclical slowdowns in tech, finance and business services, the sectors that typically absorb large numbers of fresh graduates. Payroll firm Gusto reported new-grad hiring is down 16 per cent in 2025 year-on-year. As quoted by AFP, analysts also blame what they call “extremely high uncertainty” in the early period of Donald Trump’s current presidency.&nbsp;&nbsp;Shifts in trade policy, tax rules and federal regulation have made firms cautious about expanding their payrolls. Job openings for professional and business services have declined by over 40 per cent since 2021, according to research cited in The Wall Street Journal.<h2>Comparing Trump-era trends: before and after</h2>Before Trump returned to power in January 2025, the US overall labour market had largely stabilised post-pandemic. Under Trump’s first term from 2017 to 2021, overall unemployment averaged around 5.0 per cent, even dropping below 4 per cent before the Covid-19 spike.&nbsp;&nbsp;Under President Biden (2021–2025), the post-pandemic unemployment rate fell steadily to around 3.5–4.0 per cent, hitting a low of 3.4 per cent in early 2023, according to BLS data. But in 2025, despite this broader stability, the youth unemployment rate for recent graduates has risen sharply, defying the overall trend and signalling a persistent problem for new entrants to the labour market.<h2>AI disruption compounds the crisis</h2>Alongside policy uncertainty, structural change is reshaping entry-level jobs. As reported by AFP and The Wall Street Journal, the technology sector in particular has sharply reduced new graduate hiring since the hiring spree of 2021–22.&nbsp;Firms are also testing AI-based automation to replace or redesign roles traditionally staffed by new grads. While adoption remains in early stages, experts warn even the possibility of automation is slowing hiring decisions.<h2>Heavy debt loads add to the burden</h2>For graduates already struggling to land work, the cost of American higher education looms large. According to the Education Data Initiative, the average annual cost of a US undergraduate degree is roughly $27,700.&nbsp;&nbsp;Around 36 per cent of undergraduates take federal student loans, with an average debt of $29,550 upon graduation. As AFP notes, many new graduates find themselves juggling part-time work and side jobs to stay afloat, often far outside their chosen fields.<h2>“Overqualified, under-experienced”</h2>Graduates also face the paradox of entry-level positions demanding 3–5 years of experience, leaving many locked out of the jobs they trained for.Matthew Martin, senior US economist at Oxford Economics, told AFP this split is “an outlier” historically, noting that white-collar sectors traditionally weather downturns better. But in 2025, even professional services firms have been slashing hiring plans.<h2>Long road to recovery</h2>While the US labour market as a whole remains resilient by historical standards, the outlier status of new graduates has caught the attention of policymakers. Analysts warn that the problem is unlikely to resolve quickly. Payroll data shows entry-level hiring remains 17 per cent below 2019 pre-pandemic levels, according to Gusto.&nbsp;Some see a long-term shift underway, with students expected to rethink majors and career paths in response to the shifting landscape. Despite these challenges, sectors such as healthcare and government continue to post steady job gains, offering alternative paths for struggling graduates.<h2>The big picture</h2>While America’s unemployment rate overall has stayed near record lows since 2022, even with Trump’s return to office bringing policy shifts, the employment crisis for young graduates has deepened in 2025. With debt burdens high, automation fears rising, and hiring freezes in critical white-collar sectors, a generation of new grads faces a much harder climb to economic stability.&nbsp;(With inputs from the agencies) &nbsp;

As hiring remains 17% below pre-pandemic levels, analysts suggest that graduates may need to rethink their career paths in response to these ongoing challenges.

The United States is confronting a stubborn new divide in its labour market: young college graduates are facing their highest unemployment rate in over a decade (outside the pandemic), even as the overall jobless rate stays historically low. According to data reported by AFP and official US sources, unemployment for recent college graduates aged 22 to 27 reached 5.8 per cent in May 2025, the worst level since November 2013 excluding Covid-era spikes. By contrast, the US overall unemployment rate has remained steady near 4.1 per cent in June 2025, according to Bureau of Labor Statistics (BLS) data. This widening gap is raising alarm that America’s post-pandemic recovery is leaving many young workers behind, with policy uncertainty, sectoral slowdowns and technological disruption hitting entry-level jobs especially hard. Post-Trump policy uncertainty weighs on hiring Economists point to cyclical slowdowns in tech, finance and business services, the sectors that typically absorb large numbers of fresh graduates. Payroll firm Gusto reported new-grad hiring is down 16 per cent in 2025 year-on-year. As quoted by AFP, analysts also blame what they call “extremely high uncertainty” in the early period of Donald Trump’s current presidency. Shifts in trade policy, tax rules and federal regulation have made firms cautious about expanding their payrolls. Job openings for professional and business services have declined by over 40 per cent since 2021, according to research cited in The Wall Street Journal. Comparing Trump-era trends: before and after Before Trump returned to power in January 2025, the US overall labour market had largely stabilised post-pandemic. Under Trump’s first term from 2017 to 2021, overall unemployment averaged around 5.0 per cent, even dropping below 4 per cent before the Covid-19 spike. Under President Biden (2021–2025), the post-pandemic unemployment rate fell steadily to around 3.5–4.0 per cent, hitting a low of 3.4 per cent in early 2023, according to BLS data. But in 2025, despite this broader stability, the youth unemployment rate for recent graduates has risen sharply, defying the overall trend and signalling a persistent problem for new entrants to the labour market. AI disruption compounds the crisis Alongside policy uncertainty, structural change is reshaping entry-level jobs. As reported by AFP and The Wall Street Journal, the technology sector in particular has sharply reduced new graduate hiring since the hiring spree of 2021–22. Firms are also testing AI-based automation to replace or redesign roles traditionally staffed by new grads. While adoption remains in early stages, experts warn even the possibility of automation is slowing hiring decisions. Heavy debt loads add to the burden For graduates already struggling to land work, the cost of American higher education looms large. According to the Education Data Initiative, the average annual cost of a US undergraduate degree is roughly $27,700. Around 36 per cent of undergraduates take federal student loans, with an average debt of $29,550 upon graduation. As AFP notes, many new graduates find themselves juggling part-time work and side jobs to stay afloat, often far outside their chosen fields. “Overqualified, under-experienced” Graduates also face the paradox of entry-level positions demanding 3–5 years of experience, leaving many locked out of the jobs they trained for. Matthew Martin, senior US economist at Oxford Economics, told AFP this split is “an outlier” historically, noting that white-collar sectors traditionally weather downturns better. But in 2025, even professional services firms have been slashing hiring plans. Long road to recovery While the US labour market as a whole remains resilient by historical standards, the outlier status of new graduates has caught the attention of policymakers. Analysts warn that the problem is unlikely to resolve quickly. Payroll data shows entry-level hiring remains 17 per cent below 2019 pre-pandemic levels, according to Gusto. Some see a long-term shift underway, with students expected to rethink majors and career paths in response to the shifting landscape. Despite these challenges, sectors such as healthcare and government continue to post steady job gains, offering alternative paths for struggling graduates. The big picture While America’s unemployment rate overall has stayed near record lows since 2022, even with Trump’s return to office bringing policy shifts, the employment crisis for young graduates has deepened in 2025. With debt burdens high, automation fears rising, and hiring freezes in critical white-collar sectors, a generation of new grads faces a much harder climb to economic stability. (With inputs from the agencies)

The US labor market exhibits a concerning divide as young college graduates face a 5.8% unemployment rate in May 2025, the highest since November 2013, while overall unemployment hovers around 4.1%.

Young US graduates struggle for jobs amid Trump-Era policy uncertainty

France’s finance minister has issued a stark warning that the European Union could face sharply higher US tariffs within days if negotiators fail to strike a deal with Washington, underscoring rising transatlantic trade tensions that risk hurting European industry.&nbsp;Speaking at an economic forum in Aix-en-Provence on Saturday, French Finance Minister Eric Lombard said he hoped talks between EU and US officials taking place over the weekend would succeed in averting the threatened tariff hikes before a critical July 9 deadline “On tariffs, it could all be decided this weekend,” Lombard said, as quoted by AFP. “If not, Europe will undoubtedly have to respond more vigorously to restore the balance.”<h2>Steep tariff snapback deadline</h2>According to AFP reporting, if no agreement is reached by Wednesday next week, higher levies on European exports to the US will automatically come back into force. The default tariff on EU imports is set to double to 20 per cent or even higher, with US President Donald Trump at one point threatening duties as high as 50 per cent. Talks between Brussels and Washington this weekend are seen as a last-ditch effort to avoid a trade escalation that could hit European exporters hard at a time of already slowing economic growth in the eurozone.&nbsp;European Commission President Ursula von der Leyen said on Thursday that Brussels was aiming for an “agreement in principle,” though she cautioned that even such a deal would require further negotiations to finalise the details, AFP reported. However, the Commission has also warned that even with an agreement, there may still be an imbalance in trade measures between the EU and the US.<h2>France vows to defend industry</h2>At the Aix-en-Provence forum, Lombard warned that Europe must be prepared to defend its industrial base not just from US tariffs but also from China’s industrial overcapacity. “It is essential to protect our industry from the US and China,” he said, according to AFP.&nbsp;Using stark imagery, Lombard likened the global trade environment to a playground where rules were being upended by aggressive economic powers. “Imagine the world as a playground where everyone is playing… and following the rules,” he said. “And then three bullies come along and don’t follow any rules, they knock over the game tables and push around the children who were playing nicely. That’s the world of predators,” he added, naming the US, Russia, and China as examples.<h2>Concerns about Chinese overcapacity</h2>Lombard also argued that existing tariffs on sectors like steel and automotive goods were not enough to counter China’s industrial strategy.“We need to do it across all our industrial sectors,” he said, warning that China’s policy of maintaining production capacity exceeding 50 per cent of global market share in key industrial segments risked “destroying our industry.”<h2>High-stakes test for Brussels</h2>The tariff deadline comes at a politically sensitive moment for Brussels. European leaders have been under pressure to show they can defend EU economic interests while avoiding a costly trade war with Washington, even as relations with Beijing grow more strained over issues such as green technology competition and human rights.&nbsp;A failure to strike a deal would risk exposing European manufacturers to steep US tariffs just as they face growing competition from China’s subsidised industries. As reported by AFP, EU negotiators are racing to finalise an agreement in the coming days in order to avert the tariff snapback and head off another transatlantic trade conflict.&nbsp;(With inputs from the agencies)&nbsp;

Talks over the weekend are crucial to avoid a July 9 deadline. If no deal is reached, tariffs on EU exports to the US might double, impacting economies already strained. 

France’s finance minister has issued a stark warning that the European Union could face sharply higher US tariffs within days if negotiators fail to strike a deal with Washington, underscoring rising transatlantic trade tensions that risk hurting European industry. Speaking at an economic forum in Aix-en-Provence on Saturday, French Finance Minister Eric Lombard said he hoped talks between EU and US officials taking place over the weekend would succeed in averting the threatened tariff hikes before a critical July 9 deadline “On tariffs, it could all be decided this weekend,” Lombard said, as quoted by AFP. “If not, Europe will undoubtedly have to respond more vigorously to restore the balance.” Steep tariff snapback deadline According to AFP reporting, if no agreement is reached by Wednesday next week, higher levies on European exports to the US will automatically come back into force. The default tariff on EU imports is set to double to 20 per cent or even higher, with US President Donald Trump at one point threatening duties as high as 50 per cent. Talks between Brussels and Washington this weekend are seen as a last-ditch effort to avoid a trade escalation that could hit European exporters hard at a time of already slowing economic growth in the eurozone. European Commission President Ursula von der Leyen said on Thursday that Brussels was aiming for an “agreement in principle,” though she cautioned that even such a deal would require further negotiations to finalise the details, AFP reported. However, the Commission has also warned that even with an agreement, there may still be an imbalance in trade measures between the EU and the US. France vows to defend industry At the Aix-en-Provence forum, Lombard warned that Europe must be prepared to defend its industrial base not just from US tariffs but also from China’s industrial overcapacity. “It is essential to protect our industry from the US and China,” he said, according to AFP. Using stark imagery, Lombard likened the global trade environment to a playground where rules were being upended by aggressive economic powers. “Imagine the world as a playground where everyone is playing… and following the rules,” he said. “And then three bullies come along and don’t follow any rules, they knock over the game tables and push around the children who were playing nicely. That’s the world of predators,” he added, naming the US, Russia, and China as examples. Concerns about Chinese overcapacity Lombard also argued that existing tariffs on sectors like steel and automotive goods were not enough to counter China’s industrial strategy. “We need to do it across all our industrial sectors,” he said, warning that China’s policy of maintaining production capacity exceeding 50 per cent of global market share in key industrial segments risked “destroying our industry.” High-stakes test for Brussels The tariff deadline comes at a politically sensitive moment for Brussels. European leaders have been under pressure to show they can defend EU economic interests while avoiding a costly trade war with Washington, even as relations with Beijing grow more strained over issues such as green technology competition and human rights. A failure to strike a deal would risk exposing European manufacturers to steep US tariffs just as they face growing competition from China’s subsidised industries. As reported by AFP, EU negotiators are racing to finalise an agreement in the coming days in order to avert the tariff snapback and head off another transatlantic trade conflict. (With inputs from the agencies)

France hopes that the EU could face significant US tariffs imminently if negotiators fail to reach an agreement with Washington, highlighting escalating trade tensions that threaten European industries.

France presses for EU–US tariff deal before deadline

The world economy is on edge this week as the United States closes in on a self-imposed deadline for fresh tariffs, ending 90 days of frantic negotiations that have kept businesses and governments guessing. According to Bloomberg, Wednesday marks the end of a temporary pause on President Donald Trump’s so-called “reciprocal” levies, an approach that threatens to bring a new wave of protectionism aimed at cutting US trade deficits and reviving domestic industry.&nbsp;Trump has suggested the first of these tariffs could hit as early as August 1, telling supporters “the money will start to come into the United States” on that date. His administration says the strategy will restore fairness to trade, but critics warn it risks undermining decades of progress in lowering global barriers under World Trade Organization rules. Negotiators have been scrambling for last-minute deals before the cutoff. Treasury Secretary Scott Bessent describes trade as one of the three main pillars of Trump’s agenda, along with tax cuts and deregulation. Bloomberg reports that all three are designed to boost investment and job growth, though they’ve also drawn fire for fuelling debt and sowing uncertainty.<h2>Tariffs as economic weapon and gamble</h2>Trump’s embrace of unilateral tariffs marks a stark shift from previous US trade policy, which favoured alliances and rules-based dispute resolution. The president argues that other nations have long taken advantage of American openness and says tariffs will level the playing field. Bloomberg notes that the administration also sees tariffs as a handy source of revenue at a time when debt sustainability is a growing concern. After Congress approved a massive $3.4 trillion tax cut and spending package, Washington is eager for new ways to fill its coffers.&nbsp;Yet economists warn that Trump often misrepresents how tariffs work. According to Bloomberg, while he claims foreign exporters pay these duties, in reality the costs usually land on American importers. That forces companies to choose between absorbing the extra expense, pressuring overseas suppliers to cut prices, or passing costs on to US consumers. Bloomberg Economics estimates that if Trump’s threatened tariff hikes take effect this month, average US import duties could soar to about 20 per cent—far above the roughly 3 per cent level when he first took office.<h2>US economy steady but cautious</h2>So far, the US economy has weathered the uncertainty reasonably well. Bloomberg reports that hiring has remained solid and inflation relatively contained, helping the Federal Reserve resist political pressure for aggressive rate cuts.&nbsp;&nbsp;June’s jobs data showed surprisingly strong growth, driven in part by a surge in public education employment that pushed the jobless rate down. But the Fed remains cautious. Investors will pore over the minutes of the central bank’s June policy meeting this week for hints about whether policymakers see tariffs as a threat to growth or inflation down the line. Weekly jobless claims data due Thursday is expected to show a labour market still tight overall, even as elevated continuing claims hint at challenges for those trying to find new work.<h2>Canada’s job market feels tariff stress</h2>Canada, too, is bracing for fallout. Bloomberg notes that June labour market data is likely to show further weakening after unemployment ticked up to 7 per cent in May. Business sentiment in manufacturing and other trade-exposed sectors has cooled as tariff threats cloud hiring plans.&nbsp;Cross-border tourism is also under pressure, with June figures expected to reveal another drop in return visits.<h2>Asia’s central banks balance growth and risk</h2>Across Asia, policymakers are weighing how to support slowing growth while managing inflation risks, especially as Trump’s tariffs threaten to weaken global demand.&nbsp;Bloomberg says Australia’s central bank is widely expected to cut its cash rate to 3.6 per cent on Tuesday, marking a third straight reduction as inflation cools. That move will follow key business confidence and hiring surveys, with Deputy Governor Andrew Hauser scheduled to speak Wednesday.New Zealand’s central bank is expected to hold its rate steady at 3.25 per cent, while Malaysia’s Bank Negara is also likely to keep its overnight rate unchanged this week. South Korea’s central bank is forecast to maintain its base rate at 2.5 per cent on Thursday, balancing growth support with efforts to contain surging housing prices in Seoul.&nbsp;China will release fresh inflation data on Wednesday that will give clues about domestic demand, while indicators on loans and money supply will also be closely watched. Japan, meanwhile, will report labour cash earnings on Monday, a key gauge of whether rising wages are feeding through to broader consumption. Other Japanese releases this week include bank lending, current account data and the Eco Watchers Survey of business sentiment.&nbsp;Elsewhere in Asia, Bloomberg highlights upcoming data from the Philippines (May employment report), Taiwan (June CPI and trade numbers) and Indonesia (foreign reserves and consumer confidence).India is also keeping a close watch on these developments. While the Reserve Bank of India has adopted a cautious approach to policy in 2025, it remains focused on maintaining a balance between controlling inflation and supporting growth. Officials are monitoring monsoon-driven food price trends, global commodity costs and rupee movements—all of which could be further complicated by any escalation in US trade tensions.<h2>Europe braces for tariff effects</h2>European economies remain exposed to the fallout from US protectionism. Bloomberg reports that Germany saw a sharper-than-expected drop in factory orders in May, a sign that businesses are already feeling the chill.&nbsp;This week will bring Germany’s industrial production data on Monday and trade figures on Tuesday, with France’s exports due the same day. Italy will publish industrial output on Wednesday.In the UK, GDP data for May is due Friday, with economists hoping for a modest rebound after April’s sharp contraction. The Bank of England will release its financial stability report on Wednesday, with&nbsp;&nbsp;Governor Andrew Bailey set to discuss risks to the economy at a press conference.Eurozone finance ministers will also meet early in the week, discussing topics including Bulgaria’s planned switch to the euro in January. Meanwhile, Sweden will release inflation data Monday, followed by housing prices on Tuesday and monthly GDP on Wednesday. Norway and Denmark will also publish consumer price numbers.&nbsp;Russia, which cut rates last month for the first time in nearly three years, will release June inflation data Wednesday that could influence whether the central bank opts for a larger cut at its next meeting. Deputy Governor Alexey Zabotkin has said the data will be key to that decision.<h2>Latin America focuses on inflation battle</h2>Bloomberg notes that inflation is the top economic story in Latin America this week. Colombia will kick things off Monday with data expected to show annual inflation dipping below 5 per cent, its lowest level since late 2021.&nbsp;Chile will release June numbers Tuesday, with analysts looking for either stability or a slight uptick from May’s 4.4 per cent reading. Mexico is due to publish its inflation data Wednesday, followed by central bank minutes on Thursday that could offer clues on future rate cuts after four consecutive half-point reductions.&nbsp;Brazil, the region’s largest economy, will release its data Thursday, with Bloomberg Economics predicting it may breach the country’s new continuous inflation target. Peru’s central bank is also meeting Wednesday and is widely expected to deliver a modest rate cut after holding steady at its last session.As Trump’s tariff deadline arrives, governments around the world, from Berlin to Beijing, Delhi to Brasília, are weighing the risks of caving to US demands against the potential shock of a new era of protectionism that could reshape global commerce for years to come. (With inputs from the agencies)&nbsp;

From Asia to Latin America, governments and central banks are on alert as the US approaches a key tariff deadline, sparking fears of higher trade barriers, inflation pressures, and global slowdown.

The world economy is on edge this week as the United States closes in on a self-imposed deadline for fresh tariffs, ending 90 days of frantic negotiations that have kept businesses and governments guessing. According to Bloomberg, Wednesday marks the end of a temporary pause on President Donald Trump’s so-called “reciprocal” levies, an approach that threatens to bring a new wave of protectionism aimed at cutting US trade deficits and reviving domestic industry. Trump has suggested the first of these tariffs could hit as early as August 1, telling supporters “the money will start to come into the United States” on that date. His administration says the strategy will restore fairness to trade, but critics warn it risks undermining decades of progress in lowering global barriers under World Trade Organization rules. Negotiators have been scrambling for last-minute deals before the cutoff. Treasury Secretary Scott Bessent describes trade as one of the three main pillars of Trump’s agenda, along with tax cuts and deregulation. Bloomberg reports that all three are designed to boost investment and job growth, though they’ve also drawn fire for fuelling debt and sowing uncertainty. Tariffs as economic weapon and gamble Trump’s embrace of unilateral tariffs marks a stark shift from previous US trade policy, which favoured alliances and rules-based dispute resolution. The president argues that other nations have long taken advantage of American openness and says tariffs will level the playing field. Bloomberg notes that the administration also sees tariffs as a handy source of revenue at a time when debt sustainability is a growing concern. After Congress approved a massive $3.4 trillion tax cut and spending package, Washington is eager for new ways to fill its coffers. Yet economists warn that Trump often misrepresents how tariffs work. According to Bloomberg, while he claims foreign exporters pay these duties, in reality the costs usually land on American importers. That forces companies to choose between absorbing the extra expense, pressuring overseas suppliers to cut prices, or passing costs on to US consumers. Bloomberg Economics estimates that if Trump’s threatened tariff hikes take effect this month, average US import duties could soar to about 20 per cent—far above the roughly 3 per cent level when he first took office. US economy steady but cautious So far, the US economy has weathered the uncertainty reasonably well. Bloomberg reports that hiring has remained solid and inflation relatively contained, helping the Federal Reserve resist political pressure for aggressive rate cuts. June’s jobs data showed surprisingly strong growth, driven in part by a surge in public education employment that pushed the jobless rate down. But the Fed remains cautious. Investors will pore over the minutes of the central bank’s June policy meeting this week for hints about whether policymakers see tariffs as a threat to growth or inflation down the line. Weekly jobless claims data due Thursday is expected to show a labour market still tight overall, even as elevated continuing claims hint at challenges for those trying to find new work. Canada’s job market feels tariff stress Canada, too, is bracing for fallout. Bloomberg notes that June labour market data is likely to show further weakening after unemployment ticked up to 7 per cent in May. Business sentiment in manufacturing and other trade-exposed sectors has cooled as tariff threats cloud hiring plans. Cross-border tourism is also under pressure, with June figures expected to reveal another drop in return visits. Asia’s central banks balance growth and risk Across Asia, policymakers are weighing how to support slowing growth while managing inflation risks, especially as Trump’s tariffs threaten to weaken global demand. Bloomberg says Australia’s central bank is widely expected to cut its cash rate to 3.6 per cent on Tuesday, marking a third straight reduction as inflation cools. That move will follow key business confidence and hiring surveys, with Deputy Governor Andrew Hauser scheduled to speak Wednesday. New Zealand’s central bank is expected to hold its rate steady at 3.25 per cent, while Malaysia’s Bank Negara is also likely to keep its overnight rate unchanged this week. South Korea’s central bank is forecast to maintain its base rate at 2.5 per cent on Thursday, balancing growth support with efforts to contain surging housing prices in Seoul. China will release fresh inflation data on Wednesday that will give clues about domestic demand, while indicators on loans and money supply will also be closely watched. Japan, meanwhile, will report labour cash earnings on Monday, a key gauge of whether rising wages are feeding through to broader consumption. Other Japanese releases this week include bank lending, current account data and the Eco Watchers Survey of business sentiment. Elsewhere in Asia, Bloomberg highlights upcoming data from the Philippines (May employment report), Taiwan (June CPI and trade numbers) and Indonesia (foreign reserves and consumer confidence). India is also keeping a close watch on these developments. While the Reserve Bank of India has adopted a cautious approach to policy in 2025, it remains focused on maintaining a balance between controlling inflation and supporting growth. Officials are monitoring monsoon-driven food price trends, global commodity costs and rupee movements—all of which could be further complicated by any escalation in US trade tensions. Europe braces for tariff effects European economies remain exposed to the fallout from US protectionism. Bloomberg reports that Germany saw a sharper-than-expected drop in factory orders in May, a sign that businesses are already feeling the chill. This week will bring Germany’s industrial production data on Monday and trade figures on Tuesday, with France’s exports due the same day. Italy will publish industrial output on Wednesday. In the UK, GDP data for May is due Friday, with economists hoping for a modest rebound after April’s sharp contraction. The Bank of England will release its financial stability report on Wednesday, with Governor Andrew Bailey set to discuss risks to the economy at a press conference. Eurozone finance ministers will also meet early in the week, discussing topics including Bulgaria’s planned switch to the euro in January. Meanwhile, Sweden will release inflation data Monday, followed by housing prices on Tuesday and monthly GDP on Wednesday. Norway and Denmark will also publish consumer price numbers. Russia, which cut rates last month for the first time in nearly three years, will release June inflation data Wednesday that could influence whether the central bank opts for a larger cut at its next meeting. Deputy Governor Alexey Zabotkin has said the data will be key to that decision. Latin America focuses on inflation battle Bloomberg notes that inflation is the top economic story in Latin America this week. Colombia will kick things off Monday with data expected to show annual inflation dipping below 5 per cent, its lowest level since late 2021. Chile will release June numbers Tuesday, with analysts looking for either stability or a slight uptick from May’s 4.4 per cent reading. Mexico is due to publish its inflation data Wednesday, followed by central bank minutes on Thursday that could offer clues on future rate cuts after four consecutive half-point reductions. Brazil, the region’s largest economy, will release its data Thursday, with Bloomberg Economics predicting it may breach the country’s new continuous inflation target. Peru’s central bank is also meeting Wednesday and is widely expected to deliver a modest rate cut after holding steady at its last session. As Trump’s tariff deadline arrives, governments around the world, from Berlin to Beijing, Delhi to Brasília, are weighing the risks of caving to US demands against the potential shock of a new era of protectionism that could reshape global commerce for years to come. (With inputs from the agencies)

Global markets brace for disruption as Trump’s August 1 tariff plan nears, threatening a surge in protectionism and economic ripple effects worldwide.

Trump’s tariff ultimatum looms as 90-day reprieve ends, rattling global trade

Taiwan’s Foxconn has reported record second-quarter revenue, fuelled by strong demand for artificial intelligence (AI) products, but has cautioned that geopolitical tensions and exchange rate volatility could pose challenges to future growth. According to Reuters, Foxconn, formally known as Hon Hai Precision Industry, said on Saturday that its April–June revenue jumped 15.82 per cent year-on-year to T$1.797 trillion. That figure not only set a quarterly record but also beat the T$1.7896 trillion LSEG SmartEstimate, which gives extra weight to the most consistently accurate analyst forecasts.&nbsp;As reported by Reuters, Foxconn is the world’s largest contract electronics maker and Apple’s biggest iPhone assembler. The company credited robust AI demand for the strong performance in its cloud and networking products division. Customers include AI chip leader Nvidia, which has seen soaring demand for its processors as businesses invest heavily in AI technologies.<h2>iPhone sales growth stalls</h2>Despite the AI-driven boost, Foxconn reported “flattish” year-on-year revenue growth in its smart consumer electronics division, which includes iPhones. According to Reuters, the company cited exchange rate effects as weighing on sales in this critical segment. Reuters also reported that Foxconn’s June revenue rose 10.09 per cent from a year earlier to T$540.237 billion, marking the highest-ever figure for that month.&nbsp;Looking ahead, Foxconn said it expects revenue growth in the current quarter both sequentially and compared with the same period last year. However, the company issued a clear warning that the global outlook remains uncertain. “The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring,” Foxconn said in its statement, according to Reuters.<h2>Trade tensions heighten uncertainty</h2>The caution comes amid renewed fears over global trade tensions, particularly between the United States and China. Reuters reported that US President Donald Trump said on Friday he had signed letters to 12 countries detailing new tariff levels on their exports to the United States. He described them as “take it or leave it” offers to be sent out on Monday, underscoring the hard line from Washington.&nbsp;Reuters also noted that Foxconn’s supply chain remains deeply exposed to China. The city of Zhengzhou is home to the world’s largest iPhone manufacturing facility, operated by Foxconn, making the company particularly sensitive to any escalation in US-China trade disputes.<h2>Shares face pressure despite strong 2024</h2>Despite last year’s surge, Foxconn’s stock has struggled in 2025 amid broader tech-sector weakness and concerns over Trump’s trade policy. Reuters reported that Foxconn shares jumped 76 per cent in 2024, far outpacing the Taiwan market’s 28.5 per cent rise. But so far this year, the stock is down 12.5 per cent, reflecting investor caution over geopolitical risks.&nbsp;On Friday, shares closed down 1.83 per cent ahead of the revenue release, compared with a 0.73 per cent drop in Taiwan’s benchmark index, according to Reuters. Foxconn traditionally does not provide formal earnings forecasts and did not release a profit figure with Saturday’s revenue announcement. As reported by Reuters, the company said it will publish its full second-quarter results on August 14.&nbsp;(With inputs from the agencies)

Foxconn April to June revenue hit a quarterly high, driven by AI chip demand from clients like Nvidia, yet the iPhone assembler flags rising US and China trade tensions and forex volatility as key challenges ahead.

Taiwan’s Foxconn has reported record second-quarter revenue, fuelled by strong demand for artificial intelligence (AI) products, but has cautioned that geopolitical tensions and exchange rate volatility could pose challenges to future growth. According to Reuters, Foxconn, formally known as Hon Hai Precision Industry, said on Saturday that its April–June revenue jumped 15.82 per cent year-on-year to T$1.797 trillion. That figure not only set a quarterly record but also beat the T$1.7896 trillion LSEG SmartEstimate, which gives extra weight to the most consistently accurate analyst forecasts. As reported by Reuters, Foxconn is the world’s largest contract electronics maker and Apple’s biggest iPhone assembler. The company credited robust AI demand for the strong performance in its cloud and networking products division. Customers include AI chip leader Nvidia, which has seen soaring demand for its processors as businesses invest heavily in AI technologies. iPhone sales growth stalls Despite the AI-driven boost, Foxconn reported “flattish” year-on-year revenue growth in its smart consumer electronics division, which includes iPhones. According to Reuters, the company cited exchange rate effects as weighing on sales in this critical segment. Reuters also reported that Foxconn’s June revenue rose 10.09 per cent from a year earlier to T$540.237 billion, marking the highest-ever figure for that month. Looking ahead, Foxconn said it expects revenue growth in the current quarter both sequentially and compared with the same period last year. However, the company issued a clear warning that the global outlook remains uncertain. “The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring,” Foxconn said in its statement, according to Reuters. Trade tensions heighten uncertainty The caution comes amid renewed fears over global trade tensions, particularly between the United States and China. Reuters reported that US President Donald Trump said on Friday he had signed letters to 12 countries detailing new tariff levels on their exports to the United States. He described them as “take it or leave it” offers to be sent out on Monday, underscoring the hard line from Washington. Reuters also noted that Foxconn’s supply chain remains deeply exposed to China. The city of Zhengzhou is home to the world’s largest iPhone manufacturing facility, operated by Foxconn, making the company particularly sensitive to any escalation in US-China trade disputes. Shares face pressure despite strong 2024 Despite last year’s surge, Foxconn’s stock has struggled in 2025 amid broader tech-sector weakness and concerns over Trump’s trade policy. Reuters reported that Foxconn shares jumped 76 per cent in 2024, far outpacing the Taiwan market’s 28.5 per cent rise. But so far this year, the stock is down 12.5 per cent, reflecting investor caution over geopolitical risks. On Friday, shares closed down 1.83 per cent ahead of the revenue release, compared with a 0.73 per cent drop in Taiwan’s benchmark index, according to Reuters. Foxconn traditionally does not provide formal earnings forecasts and did not release a profit figure with Saturday’s revenue announcement. As reported by Reuters, the company said it will publish its full second-quarter results on August 14. (With inputs from the agencies)

Foxconn posts record Q2 revenue on strong AI demand but warns of geopolitical and currency risks clouding its growth outlook.

Foxconn hits record Q2 revenue but flags geopolitical, currency headwinds

Japan is scrambling to head off steep new US tariffs, as last-ditch negotiations with President Donald Trump’s administration show few signs of progress. With a crucial tariff pause set to expire on July 9, Tokyo is warning of significant risks to its vital manufacturing sector if a deal cannot be reached.&nbsp;According to Reuters, Japan’s chief tariff negotiator Ryosei Akazawa held “in-depth exchanges” over the phone with US Commerce Secretary Howard Lutnick on Thursday and Saturday. The Japanese government said in a statement that it would “continue actively coordinating with the US side” in an effort to prevent the higher tariffs from taking effect.&nbsp;Prime Minister Shigeru Ishiba, speaking on Wednesday, vowed to defend Japan’s national interests, noting that Japan is the largest foreign investor in the United States. As per Reuters, Ishiba’s comments reflect Tokyo’s growing frustration with what it sees as aggressive US demands and limited willingness to compromise.<h2>Trump threatens even higher tariffs</h2>President Trump has repeatedly threatened to increase tariffs far beyond the current 24 per cent level announced in April. This week, Trump criticised Japan for what he described as its reluctance to buy US-grown rice, accusing Tokyo of maintaining unfair barriers. Yet Reuters reports that Japan has in fact imported historically high volumes of US rice in recent months, as domestic prices have surged.&nbsp;Despite those purchases, Trump has indicated he may bypass further negotiations altogether. According to Reuters, he suggested he could simply send Japan a letter outlining a new tariff rate of 30 or even 35 per cent. The White House declined to comment directly on the possibility of higher duties, referring only to Trump’s public statements. Reuters also noted that Trump said on Friday he had signed letters to 12 countries informing them of new tariff intentions, though he did not identify which nations would receive them.<h2>Japan’s auto industry on the line</h2>Japan’s top priority in these negotiations remains securing an exemption for its automotive sector. As per Reuters, Japanese automakers are already facing a 10 per cent tariff on most exports to the US. On top of that, Washington has threatened an industry-specific tariff of 25 per cent on imported vehicles, a move that would hit Japan’s manufacturers particularly hard.&nbsp;After nearly three months of negotiations without a breakthrough, Tokyo’s options are narrowing. Japan is one of America’s most important trading partners, and its carmakers are major employers in the US. Yet Reuters reports that Trump has so far shown little inclination to compromise, casting doubt on whether Japan can avoid higher tariffs. Prime Minister Ishiba said his government remained determined to find a solution, but acknowledged the difficulties, stressing the need to protect key national interests even as talks drag on.<h2>An uncertain outlook</h2>With the July 9 deadline fast approaching, the risk of escalation is real. As Reuters reports, Trump has questioned whether a deal is even possible and has publicly floated higher tariff rates. For Japan, failure to secure an agreement could have damaging economic consequences, especially for its automakers and exporters.&nbsp;Beyond the economic impact, the standoff also threatens to strain the broader US-Japan alliance. As the two sides edge closer to a potential trade war, Japan’s negotiators are under intense pressure to avert a damaging outcome while managing an increasingly unpredictable White House.&nbsp;(With inputs from the agencies)

With a crucial July 9 deadline nearing, Japan scrambles to secure a tariff exemption from the Trump administration amid rising tensions, aggressive US demands, and fears of economic fallout.

Japan is scrambling to head off steep new US tariffs, as last-ditch negotiations with President Donald Trump’s administration show few signs of progress. With a crucial tariff pause set to expire on July 9, Tokyo is warning of significant risks to its vital manufacturing sector if a deal cannot be reached. According to Reuters, Japan’s chief tariff negotiator Ryosei Akazawa held “in-depth exchanges” over the phone with US Commerce Secretary Howard Lutnick on Thursday and Saturday. The Japanese government said in a statement that it would “continue actively coordinating with the US side” in an effort to prevent the higher tariffs from taking effect. Prime Minister Shigeru Ishiba, speaking on Wednesday, vowed to defend Japan’s national interests, noting that Japan is the largest foreign investor in the United States. As per Reuters, Ishiba’s comments reflect Tokyo’s growing frustration with what it sees as aggressive US demands and limited willingness to compromise. Trump threatens even higher tariffs President Trump has repeatedly threatened to increase tariffs far beyond the current 24 per cent level announced in April. This week, Trump criticised Japan for what he described as its reluctance to buy US-grown rice, accusing Tokyo of maintaining unfair barriers. Yet Reuters reports that Japan has in fact imported historically high volumes of US rice in recent months, as domestic prices have surged. Despite those purchases, Trump has indicated he may bypass further negotiations altogether. According to Reuters, he suggested he could simply send Japan a letter outlining a new tariff rate of 30 or even 35 per cent. The White House declined to comment directly on the possibility of higher duties, referring only to Trump’s public statements. Reuters also noted that Trump said on Friday he had signed letters to 12 countries informing them of new tariff intentions, though he did not identify which nations would receive them. Japan’s auto industry on the line Japan’s top priority in these negotiations remains securing an exemption for its automotive sector. As per Reuters, Japanese automakers are already facing a 10 per cent tariff on most exports to the US. On top of that, Washington has threatened an industry-specific tariff of 25 per cent on imported vehicles, a move that would hit Japan’s manufacturers particularly hard. After nearly three months of negotiations without a breakthrough, Tokyo’s options are narrowing. Japan is one of America’s most important trading partners, and its carmakers are major employers in the US. Yet Reuters reports that Trump has so far shown little inclination to compromise, casting doubt on whether Japan can avoid higher tariffs. Prime Minister Ishiba said his government remained determined to find a solution, but acknowledged the difficulties, stressing the need to protect key national interests even as talks drag on. An uncertain outlook With the July 9 deadline fast approaching, the risk of escalation is real. As Reuters reports, Trump has questioned whether a deal is even possible and has publicly floated higher tariff rates. For Japan, failure to secure an agreement could have damaging economic consequences, especially for its automakers and exporters. Beyond the economic impact, the standoff also threatens to strain the broader US-Japan alliance. As the two sides edge closer to a potential trade war, Japan’s negotiators are under intense pressure to avert a damaging outcome while managing an increasingly unpredictable White House. (With inputs from the agencies)

Japan faces mounting pressure as last-ditch efforts to avert steep US tariffs risk failure, threatening its key auto sector and trade ties.

Japan confirms ‘in-depth’ talks with US as tariff deadline looms

In an interview with Arab News, Pakistan's Defence Minister Khawaja Asif denied reports of a potential deal involving China’s advanced J-35A stealth fighter jets. He dismissed those claims as mere media speculations aimed at boosting the defence sales of China.According to reports from international media outlets, such as Bloomberg, in June 2025, Pakistan was touted to be the first foreign buyer of advanced J-35A stealth fighter jets, a fifth-generation stealth fighter developed by China’s Shenyang Aircraft Corporation. With the reports, China's Defence stocks jumped by 10 per cent, specifically AVC Shenyang Aircraft Corporation.

<blockquote class="twitter-tweet" data-media-max-width="560">🚨🇵🇰✈️ What changed in just one month? A month ago, there was hype everywhere about buying China&#39;s J-35 5th-gen jets. Now Pakistan’s Defence Minister says “We’re not buying them.” Big question: What forced such a sudden U-turn? <a href="https://t.co/bbqbOeTGsm">pic.twitter.com/bbqbOeTGsm</a>&mdash; Aye Hosen (@_f1rme) <a href="https://twitter.com/_f1rme/status/1939728704390754356?ref_src=twsrc%5Etfw">June 30, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

While speaking to Arab News, Asif said, “We are not buying them”. His rebuttal is a sharp u-turn: "I think it's only the media…It's good for Chinese Defence sales". Whereas outlets reported about the delivery of J-35A stealth fighter jets equipped with advanced PL-17 long-range air-to-air missiles, as early as in a few months or August 2025. There were also reports of pilot training in China and the field readiness of 30-40 aircraft. China was supposed to offer a 50 per cent discount on 30 jets.<h2>Why is Pakistan denying the purchase of China's J-35 jets?</h2>Tension between India and Pakistan was ripe following the border skirmishes in May and air strikes from India on Pakistani bases. Publicly confirming a stealth fighter deal with China would be provocative to India and possibly would escalate an arms race. Moreover, Pakistan is under strict IMF loan conditions and global scrutiny. A denial lets Pakistan appear fiscally responsible.&nbsp;The interview gives a clear indication that Chinese-state-linked media intentionally leaked or inflated the story to boost J-35's export potential and market demand. A successful deal with Pakistan will attract other potential buyers such as Egypt or Algeria, as reported by some outlets. This was China's move to challenge Western dominance. However, China’s Ministry of Defence and Shenyang Aircraft Corporation have remained silent on the J-35A rumours, neither confirming nor denying Pakistan’s alleged interest.&nbsp;The rapid spread of these rumours reflects the volatile nature of defence reporting, where unverified claims can quickly shape narratives about regional power dynamics.

Pakistan's Defence Minister denies J-35A jet deal with China and dismisses the rumours of 2026 delivery as media hype. This denial raises questions about South Asia's arms race.

In an interview with Arab News, Pakistan's Defence Minister Khawaja Asif denied reports of a potential deal involving China’s advanced J-35A stealth fighter jets. He dismissed those claims as mere media speculations aimed at boosting the defence sales of China. According to reports from international media outlets, such as Bloomberg, in June 2025, Pakistan was touted to be the first foreign buyer of advanced J-35A stealth fighter jets, a fifth-generation stealth fighter developed by China’s Shenyang Aircraft Corporation. With the reports, China's Defence stocks jumped by 10 per cent, specifically AVC Shenyang Aircraft Corporation.

Pakistan's Defence Minister denies J-35A jet deal with China and dismisses the rumours of 2026 delivery as media hype. This denial raises questions about South Asia's arms race.

'We’re not buying them': Why Pakistan is denying purchase of China's J-35 jets

US President Donald Trump has announced that formal talks with China will begin this week over the long-awaited sale of TikTok’s US operations. Speaking to reporters aboard Air Force One on July 4, Trump said discussions with Chinese President Xi Jinping or his representatives could begin as early as July 7 or 8. “I think we’re going to start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we pretty much have a deal,” Trump said, indicating that negotiations are entering a critical phase.TikTok, the popular short-video app owned by Beijing-based ByteDance, has faced mounting pressure in the US over national security concerns. Earlier this year, the US Supreme Court upheld legislation requiring ByteDance to divest TikTok’s US assets. The Biden-era law was scheduled to take effect just before Trump’s inauguration, but Trump has since extended the compliance deadline three times, most recently pushing it to September 17.<h2>Deal stalled amid trade tensions</h2>A deal to spin off TikTok’s US operations into a separate American-owned entity had been progressing earlier this year, with several US investors poised to take majority control. However, the plan was abruptly halted after China signalled its disapproval, largely in response to Trump’s new wave of steep tariffs on Chinese imports. Trump acknowledged that any final agreement would likely need Beijing’s approval. “I'm not confident, but I think so,” he said when asked if China would sign off on the deal. “President Xi and I have a great relationship. I think the deal is good for China, and it's good for us.”White House Press Secretary Karoline Leavitt emphasised Trump’s intention to avoid a complete TikTok ban. “As he has said many times, President Trump does not want TikTok to go dark,” she noted in June.TikTok, which has around 170 million users in the US, expressed gratitude for the administration’s engagement. “We are grateful for President Trump’s leadership,” the company said in a recent statement, adding that it would continue working closely with Vice President JD Vance’s office.Despite bipartisan support for a sale, critics like Democratic Senator Mark Warner have accused Trump of bypassing the legislative process through executive orders, arguing the approach risks undermining broader tech security efforts. (With Inputs from agencies)

A deal to spin off TikTok’s US operations into a separate American-owned entity had been progressing earlier this year, with several US investors poised to take majority control.

US President Donald Trump has announced that formal talks with China will begin this week over the long-awaited sale of TikTok’s US operations. Speaking to reporters aboard Air Force One on July 4, Trump said discussions with Chinese President Xi Jinping or his representatives could begin as early as July 7 or 8. “I think we’re going to start Monday or Tuesday ... talking to China, perhaps President Xi or one of his representatives, but we pretty much have a deal,” Trump said, indicating that negotiations are entering a critical phase. TikTok, the popular short-video app owned by Beijing-based ByteDance, has faced mounting pressure in the US over national security concerns. Earlier this year, the US Supreme Court upheld legislation requiring ByteDance to divest TikTok’s US assets. The Biden-era law was scheduled to take effect just before Trump’s inauguration, but Trump has since extended the compliance deadline three times, most recently pushing it to September 17. Deal stalled amid trade tensions A deal to spin off TikTok’s US operations into a separate American-owned entity had been progressing earlier this year, with several US investors poised to take majority control. However, the plan was abruptly halted after China signalled its disapproval, largely in response to Trump’s new wave of steep tariffs on Chinese imports. Trump acknowledged that any final agreement would likely need Beijing’s approval. “I'm not confident, but I think so,” he said when asked if China would sign off on the deal. “President Xi and I have a great relationship. I think the deal is good for China, and it's good for us.” White House Press Secretary Karoline Leavitt emphasised Trump’s intention to avoid a complete TikTok ban. “As he has said many times, President Trump does not want TikTok to go dark,” she noted in June. TikTok, which has around 170 million users in the US, expressed gratitude for the administration’s engagement. “We are grateful for President Trump’s leadership,” the company said in a recent statement, adding that it would continue working closely with Vice President JD Vance’s office. Despite bipartisan support for a sale, critics like Democratic Senator Mark Warner have accused Trump of bypassing the legislative process through executive orders, arguing the approach risks undermining broader tech security efforts. (With Inputs from agencies)

A deal to spin off TikTok’s US operations into a separate American-owned entity had been progressing earlier this year, with several US investors poised to take majority control.

Trump says TikTok deal talks with China to begin this week

OPEC+ is set to approve a faster-than-expected increase in oil production for August, with eight core members of the alliance preparing to raise output by as much as 550,000 barrels per day (bpd)—a sharp uptick from previous monthly hikes of 411,000 bpd. The decision, expected at a virtual meeting on July 5, reflects the group’s continued shift toward regaining market share despite the risk of oversupplying a fragile market. The group, which includes Saudi Arabia, Russia, the UAE, and Iraq, has been gradually reversing a 2.2 million bpd production cut it began unwinding in April. So far, 1.37 million bpd has been restored, and the planned August hike could complete the process by September, according to sources familiar with the talks.<h2>Strategic shift amid supply glut risks</h2>OPEC+, which pumps nearly half of the world’s oil, has been curtailing output since 2022 to support prices. But in recent months, the group has increased supply to recover sales volumes lost to rivals like US shale producers and to meet rising summer fuel demand. The decision comes even as oil inventories have been building globally, with analysts warning of a supply surplus later in the year. The International Energy Agency (IEA) and Wall Street firms like JPMorgan and Goldman Sachs forecast crude prices could dip below $60 per barrel by Q4.President Donald Trump has also pressured the group to boost supply, aiming to curb gasoline prices and relieve inflationary pressure as he pushes the Federal Reserve to cut interest rates. The US, alongside producers in Canada, Brazil, and Guyana, has been increasing output, further intensifying the supply-demand imbalance.Despite the push for more barrels, internal rifts persist within OPEC+. Saudi Arabia has demanded discipline from members like Kazakhstan and Iraq, who have consistently overproduced. The actual supply hitting markets has been lower than announced in previous months, partly due to Riyadh urging lagging countries to withhold their share to offset past breaches.Russia, OPEC’s key ally, also faces pressure to boost revenue amid a deteriorating economy and sanctions fallout from its war in Ukraine. The recent meeting may also touch on September policy, depending on market dynamics and member compliance. As OPEC+ walks a tightrope between stabilising prices and expanding output, all eyes will be on whether the additional barrels cool or further complicate the already volatile oil market.

The OPEC+, which includes Saudi Arabia, Russia, the UAE, and Iraq, has been gradually reversing a 2.2 million bpd production cut it began unwinding in April.

OPEC+ is set to approve a faster-than-expected increase in oil production for August, with eight core members of the alliance preparing to raise output by as much as 550,000 barrels per day (bpd)—a sharp uptick from previous monthly hikes of 411,000 bpd. The decision, expected at a virtual meeting on July 5, reflects the group’s continued shift toward regaining market share despite the risk of oversupplying a fragile market. The group, which includes Saudi Arabia, Russia, the UAE, and Iraq, has been gradually reversing a 2.2 million bpd production cut it began unwinding in April. So far, 1.37 million bpd has been restored, and the planned August hike could complete the process by September, according to sources familiar with the talks. Strategic shift amid supply glut risks OPEC+, which pumps nearly half of the world’s oil, has been curtailing output since 2022 to support prices. But in recent months, the group has increased supply to recover sales volumes lost to rivals like US shale producers and to meet rising summer fuel demand. The decision comes even as oil inventories have been building globally, with analysts warning of a supply surplus later in the year. The International Energy Agency (IEA) and Wall Street firms like JPMorgan and Goldman Sachs forecast crude prices could dip below $60 per barrel by Q4. President Donald Trump has also pressured the group to boost supply, aiming to curb gasoline prices and relieve inflationary pressure as he pushes the Federal Reserve to cut interest rates. The US, alongside producers in Canada, Brazil, and Guyana, has been increasing output, further intensifying the supply-demand imbalance. Despite the push for more barrels, internal rifts persist within OPEC+. Saudi Arabia has demanded discipline from members like Kazakhstan and Iraq, who have consistently overproduced. The actual supply hitting markets has been lower than announced in previous months, partly due to Riyadh urging lagging countries to withhold their share to offset past breaches. Russia, OPEC’s key ally, also faces pressure to boost revenue amid a deteriorating economy and sanctions fallout from its war in Ukraine. The recent meeting may also touch on September policy, depending on market dynamics and member compliance. As OPEC+ walks a tightrope between stabilising prices and expanding output, all eyes will be on whether the additional barrels cool or further complicate the already volatile oil market.

The OPEC+, which includes Saudi Arabia, Russia, the UAE, and Iraq, has been gradually reversing a 2.2 million bpd production cut it began unwinding in April.

OPEC+ poised to accelerate oil output hike in August amid market volatility