US suggests interim plan on Iran nuclear deal
U.S. President Donald Trump's administration is proposing an interim plan that would allow Iran to enrich uranium at low levels.
The New York Times reports that this interim plan would be in place while a broader arrangement is worked out, aimed at blocking the country's path to a nuclear weapon.
Meanwhile, Iran's President says Tehran will not bow to US pressure to dismantle its nuclear program.
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AU Financial Review
31 minutes ago
- AU Financial Review
Trump and Xi speak on phone with tensions edging up
Chinese President Xi Jinping spoke by phone with US President Donald Trump on Thursday, Chinese state media reported, as tensions between the two countries over trade resurfaced. The call came in the wake of renewed accusations between Washington and Beijing over violations of a trade deal struck weeks earlier in Geneva. The agreement, aimed at easing tensions, included a 90-day mutual tariff reduction that Trump described as a 'total reset.'
The Advertiser
an hour ago
- The Advertiser
Asian shares creep higher, US dollar languishes
Shares in Asia closed higher and the US dollar languished ahead of the European Central Bank offering its policy outlook for a tumultuous global economy. The dollar slid in the previous session after weak US jobs and services data, with more weighty employment data due on Friday. Damage to the US economy is becoming more apparent from President Donald Trump's erratic tariff action, while bilateral deals remain unrealised. Canada prepared possible reprisals against the imposition of new US metals tariffs while the European Union reported progress in trade talks with Washington. Against that backdrop, market watchers considered the ECB almost certain to cut policy interest rates so will pay greater attention to what bank President Christine Lagarde signals about future decisions. "There's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth," said Kyle Rodda, a senior financial market analyst at "A failure to deliver sufficiently dovish guidance could upset the equity markets as well as give the euro upward trend additional momentum." Trump's doubling of tariffs on steel and aluminium imports became effective on Wednesday, hitting Canada and Mexico in particular. The same day, his administration sought "best offers" from trading partners to stop other import levies taking effect in July. Japan is sending key trade negotiator Ryosei Akazawa to the US on Thursday for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, whereas Japan's Nikkei stock index slid 0.5 per cent. 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Against that backdrop, market watchers considered the ECB almost certain to cut policy interest rates so will pay greater attention to what bank President Christine Lagarde signals about future decisions. "There's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth," said Kyle Rodda, a senior financial market analyst at "A failure to deliver sufficiently dovish guidance could upset the equity markets as well as give the euro upward trend additional momentum." Trump's doubling of tariffs on steel and aluminium imports became effective on Wednesday, hitting Canada and Mexico in particular. The same day, his administration sought "best offers" from trading partners to stop other import levies taking effect in July. Japan is sending key trade negotiator Ryosei Akazawa to the US on Thursday for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, whereas Japan's Nikkei stock index slid 0.5 per cent. South Korea's benchmark KOSPI index of shares surged 0.9 per cent and touched an 11-month high on extended post-election optimism surrounding new president Lee Jae-myung. Hong Kong's Hang Seng gauge added 0.5 per cent, driven higher by tech shares. "There is a degree of complacency in the equity markets in the sense there is an expectation now that there will continue to be resolution and deals being done," said Chris Nicol, Australia equity strategist at Morgan Stanley. "The black and white of the policy is still to be put in stone and the growth and inflation impacts are still relatively uncertain." The dollar index, which measures the greenback against a basket of currencies, rose 0.1 per cent to 98.879, trimming its 0.5 per cent slide on Wednesday. The dollar rose 0.2 per cent to 143 yen. The euro was largely flat at $US1.1411 after a 0.4 per cent gain in the previous trading session. Gold pared gains from the previous day while oil slipped after a build in US inventories and Saudi Arabia's cut to its July prices for Asian crude buyers. Spot gold edged 0.2 per cent lower to $US3,367.30 per ounce. US crude dipped 0.5 per cent to $US62.58 a barrel. Both pan-region Euro Stoxx 50 futures and US stock futures, the S&P 500 e-minis, were little changed. Shares in Asia closed higher and the US dollar languished ahead of the European Central Bank offering its policy outlook for a tumultuous global economy. The dollar slid in the previous session after weak US jobs and services data, with more weighty employment data due on Friday. Damage to the US economy is becoming more apparent from President Donald Trump's erratic tariff action, while bilateral deals remain unrealised. Canada prepared possible reprisals against the imposition of new US metals tariffs while the European Union reported progress in trade talks with Washington. Against that backdrop, market watchers considered the ECB almost certain to cut policy interest rates so will pay greater attention to what bank President Christine Lagarde signals about future decisions. "There's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth," said Kyle Rodda, a senior financial market analyst at "A failure to deliver sufficiently dovish guidance could upset the equity markets as well as give the euro upward trend additional momentum." Trump's doubling of tariffs on steel and aluminium imports became effective on Wednesday, hitting Canada and Mexico in particular. The same day, his administration sought "best offers" from trading partners to stop other import levies taking effect in July. Japan is sending key trade negotiator Ryosei Akazawa to the US on Thursday for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, whereas Japan's Nikkei stock index slid 0.5 per cent. South Korea's benchmark KOSPI index of shares surged 0.9 per cent and touched an 11-month high on extended post-election optimism surrounding new president Lee Jae-myung. Hong Kong's Hang Seng gauge added 0.5 per cent, driven higher by tech shares. "There is a degree of complacency in the equity markets in the sense there is an expectation now that there will continue to be resolution and deals being done," said Chris Nicol, Australia equity strategist at Morgan Stanley. "The black and white of the policy is still to be put in stone and the growth and inflation impacts are still relatively uncertain." The dollar index, which measures the greenback against a basket of currencies, rose 0.1 per cent to 98.879, trimming its 0.5 per cent slide on Wednesday. The dollar rose 0.2 per cent to 143 yen. The euro was largely flat at $US1.1411 after a 0.4 per cent gain in the previous trading session. Gold pared gains from the previous day while oil slipped after a build in US inventories and Saudi Arabia's cut to its July prices for Asian crude buyers. Spot gold edged 0.2 per cent lower to $US3,367.30 per ounce. US crude dipped 0.5 per cent to $US62.58 a barrel. Both pan-region Euro Stoxx 50 futures and US stock futures, the S&P 500 e-minis, were little changed. Shares in Asia closed higher and the US dollar languished ahead of the European Central Bank offering its policy outlook for a tumultuous global economy. The dollar slid in the previous session after weak US jobs and services data, with more weighty employment data due on Friday. Damage to the US economy is becoming more apparent from President Donald Trump's erratic tariff action, while bilateral deals remain unrealised. Canada prepared possible reprisals against the imposition of new US metals tariffs while the European Union reported progress in trade talks with Washington. Against that backdrop, market watchers considered the ECB almost certain to cut policy interest rates so will pay greater attention to what bank President Christine Lagarde signals about future decisions. "There's uncertainty about the guidance the central bank will deliver given the murky outlook for US trade policy and global growth," said Kyle Rodda, a senior financial market analyst at "A failure to deliver sufficiently dovish guidance could upset the equity markets as well as give the euro upward trend additional momentum." Trump's doubling of tariffs on steel and aluminium imports became effective on Wednesday, hitting Canada and Mexico in particular. The same day, his administration sought "best offers" from trading partners to stop other import levies taking effect in July. Japan is sending key trade negotiator Ryosei Akazawa to the US on Thursday for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, whereas Japan's Nikkei stock index slid 0.5 per cent. South Korea's benchmark KOSPI index of shares surged 0.9 per cent and touched an 11-month high on extended post-election optimism surrounding new president Lee Jae-myung. Hong Kong's Hang Seng gauge added 0.5 per cent, driven higher by tech shares. "There is a degree of complacency in the equity markets in the sense there is an expectation now that there will continue to be resolution and deals being done," said Chris Nicol, Australia equity strategist at Morgan Stanley. "The black and white of the policy is still to be put in stone and the growth and inflation impacts are still relatively uncertain." The dollar index, which measures the greenback against a basket of currencies, rose 0.1 per cent to 98.879, trimming its 0.5 per cent slide on Wednesday. The dollar rose 0.2 per cent to 143 yen. The euro was largely flat at $US1.1411 after a 0.4 per cent gain in the previous trading session. Gold pared gains from the previous day while oil slipped after a build in US inventories and Saudi Arabia's cut to its July prices for Asian crude buyers. Spot gold edged 0.2 per cent lower to $US3,367.30 per ounce. US crude dipped 0.5 per cent to $US62.58 a barrel. Both pan-region Euro Stoxx 50 futures and US stock futures, the S&P 500 e-minis, were little changed.
9 News
2 hours ago
- 9 News
'Hard to make a deal': Trump talks with Xi amid stalled tariff talks
Your web browser is no longer supported. To improve your experience update it here US President Donald Trump and his Chinese counterpart, Xi Jinping , have spoken amid stalled negotiations between both countries over tariffs that have roiled global trade. The discussion on Thursday followed Trump suggesting it was tough to reach a deal with Xi. "I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!," Trump had posted on Wednesday on his social media site. US President Donald Trump and his Chinese counterpart, Xi Jinping, have spoken amid stalled negotiations between both countries over tariffs that have roiled global trade. (AP) Trade negotiations between the US and China stalled shortly after a May 12 agreement between both countries to reduce their tariff rates in order to have talks. Behind the gridlock has been the continued competition for an economic edge. Donald Trump tariffs Trade War USA China Xi Jinping China news Asia World CONTACT US
