China’s exports to the U.S. clock their sharpest drop in more than 5 years — down over 34% in May
U.S. and China struck a preliminary deal in Geneva, Switzerland, last month that led both sides to drop a majority of tariffs.
Financial News
Trump to deploy National Guard in response to Los Angeles immigration protests
California Gov. Gavin Newsom said that Trump was being “purposefully inflammatory” in sending National Guard troops to L.A.
Musk vs. Trump drama dominated in DC, but Germany’s Merz quietly walked away with a win
German Chancellor Friedrich Merz had a full agenda as he met with U.S. President Donald Trump.
British fintech Wise to move primary listing to the U.S. in blow to London stock exchange
“This would allow Wise’s shares to trade on both a US stock exchange and the LSE,” Wise said Thursday.
CNBC’s UK Exchange newsletter: A lament for the losses on Royal Bank of Scotland
The British government might not have lost nearly as much on its stake in the bank had circumstances been different.
China’s May factory activity unexpectedly shrinks as tariffs dent sentiment — worst drop since 2022
China has grappled with entrenched deflationary pressure, as a prolonged real estate downturn and job insecurity hamper investments and consumer spending.
China counters Trump’s accusations of Geneva trade deal violations, says U.S. undermining consensus
Tensions between U.S. and China have flared up after a hiatus following a meeting between Treasury Secretary Scott Bessent and his Chinese counterpart in Geneva.
EU ‘prepared to impose countermeasures’ after Trump doubles steel tariffs to 50%
President Donald Trump announced Friday that he was raising tariffs on steel imports from 25% to 50%.
Pentagon chief says ready to ‘fight and win’ against China, urges Asian allies to boost defense spending
While playing up the U.S.’s enduring commitment to the Indo-Pacific region, Hegseth took swipes at the absence of China’s defense minister Dong Jun.
U.S.-China talks ‘a bit stalled’ and need Trump and Xi to weigh in, Treasury Secretary Bessent says
U.S.-China trade talks are “a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News.