News

Regarding the latest US tariffs, the British government stated that the United States has recognized the measures taken by the UK on the issue of forced labor.

Regarding the latest U.S. tariffs, the British government stated that the announcement did not have a negative change in the tariff rates faced by British companies.

According to the German magazine Der Spiegel: German Chancellor Merz will deliver a statement in Berlin at 9:00 AM.

Russian Ministry of Defense: The Russian military attacked a ship carrying military cargo in the Ukrainian port of Nikolayev.

Royal Bank of Canada: Raised its target price on Thermo Fisher Scientific (TMO.N) to $580 from $490.

Japan's 40-year government bond yield rose 10 basis points to 4.010%.

Analyst Soumaya Keynes said that most countries in the world may have long been tired of the U.S. tariff war, but the Trump administration is very motivated and has announced additional tariffs of 10%-12.5% ​​on 60 economies. Do these actions really have an effect? Judging from some obvious indicators, the effect is not obvious. The first is the attitude of the American people. About 60% of Americans lack confidence in Trump’s trade policy decisions. Despite some sizable investment announcements following the imposition of tariffs, But U.S. manufacturing is not booming. The merchandise trade deficit has narrowed recently, but only because importers rushed to rush shipments before tariffs were implemented last year, causing the deficit to expand significantly. On other indicators, performance was mixed. Critics believe that because this administration has not tried to negotiate tariffs back to zero, Trump is actually hurting other countries by "slapping Americans in the face." For example, a study published in February this year concluded that, in fact, exporters to the United States have already suffered a considerable blow. According to normal logic, the tariffs imposed by Trump during his first term were This should have depressed trade volumes and pushed up costs, which, other things being equal, should have pushed up prices. However, prices have not increased, which means that exporters bear about 60% of the tariff burden. And this does not mean that the United States will definitely win, it just means that foreigners lose. Another study of last year's tariffs confirmed that while U.S. importers continued to buy the same goods from the same suppliers, prices did not change after the tariffs took effect. But when U.S. importers switch suppliers, the tariff increases by 8 percentage points. Import prices fell by approximately 5% before the tariffs took effect. This is also not a victory for the United States. About half of the reason for price drops is that buyers switch to lower-quality goods. A final indicator that may displease pressured U.S. importers is Trump’s “deterrence.” In this regard, Trump’s performance is getting worse. Even before the Supreme Court ruled that his Emancipation Day tariffs were illegal, he frequently made claims on social media that were never fulfilled. After the Supreme Court ruling, Questions about the president's legal authority mean he increasingly resembles an old man shaking his fist at a dark cloud - powerful but unable to cause actual harm.

German Chancellor Mertz may announce a cabinet reshuffle on Friday, people familiar with the matter said on Thursday.

The UK's seasonally adjusted monthly core retail sales rate in June was 1.1%, expected to be -0.4%, and the previous value was 1.20%.

The UK's June seasonally adjusted core retail sales annual rate was 5.4%, expected to be 3.20%. The previous value was revised to 4.9% from 4.60%.

The UK's seasonally adjusted annual retail sales rate in June was 4.2%, which was expected to be 2.3%. The previous value was revised from 3.20% to 3.5%.

The UK’s June seasonally adjusted monthly retail sales rate was 1%, expected to be -0.30%, and the previous value was 1.20%.

Germany's Gfk consumer confidence index in August was -29.6, expected -28.5, and the previous value was revised from -29.2 to -29.3.

ECB Governing Council Member Mullan: U.S. President Trump’s tariffs have brought more uncertainty to the global economy and growth.

ECB Governing Council Member Mullan: We will pay attention to the scale and duration of the oil shock.

Japan’s 5-year government bond yield rose to a record level of 2.045%.

Germany's Gfk consumer confidence index for August and the UK's June seasonally adjusted monthly retail sales rate will be released in ten minutes.

Volkswagen's second-quarter operating profit margin was 4.2% (market estimate of 4.79%); operating profit was 3.47 billion euros (market estimate was 4.07 billion euros); revenue was 82.44 billion euros (market estimate was 81.72 billion euros).

ECB Governing Council Member Kocher: If the inflation outlook worsens and inflation expectations also deteriorate, action will be necessary.

ECB Governing Council Member Kocher: If I knew whether an interest rate hike in September was the most likely outcome, I would tell you.