Ukraine attack, Trump-Zelenskiy clash, China tariffs, white South Africans
President Donald Trump and Ukrainian President Volodymyr Zelenskiy have clashed again – with the U.S. threatening to walk away from peace talks. The Trump administration will look at lowering tariffs on Chinese imports pending talks with Beijing. And the white South Africans applying for asylum in the U.S.
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Trump and Zelenskiy clash again and US warns it could abandon Ukraine talks
White House would consider cutting China tariffs as part of talks, source says
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Reuters
36 minutes ago
- Reuters
Shares dither, dollar falls as trade angst persists
SINGAPORE, June 3 (Reuters) - Asia shares edged cautiously higher on Tuesday while the dollar fell to a six-week low as erratic U.S. trade policies clouded over markets and investors turned defensive ahead of key developments later in the week. U.S. President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. The call between the two leaders will be closely watched by markets to see if the tariff-induced blow to global stocks and the dollar this year could get some reprieve or ratchet up, as trade tensions between the world's two largest economies simmer. Data on Monday showed U.S. manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs. "The May ISM showed tariff pressure is beginning to bite for manufacturers who are seeing slowing activity, longer lead times and declining inventories," said economists at Wells Fargo. China's factory activity in May also shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating U.S. tariffs are starting to hurt manufacturers. The gloomy global trade situation left U.S. futures falling early in the Asian session, failing to sustain the slight gains made during the cash session on Wall Street overnight. Nasdaq futures and S&P 500 futures were both down 0.2% each. In Europe, EUROSTOXX 50 futures advanced 0.28% and FTSE futures added 0.15%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab reversed early losses to last trade 0.6% higher, while Japan's Nikkei (.N225), opens new tab rose 0.66%. "Trump really does have sentiment in the palm of his hands once again," said Matt Simpson, senior market analyst at City Index. "I suspect we'll hear about 'a really great call' or words to the effect," he said, referring to the expected call between Trump and Xi. "But we'll need to wait for confirmation from China, who tends to take their time on these matters. Until we get concrete confirmation, price action could be shaky and vulnerable to false also have the June 4 deadline for 'best trade deals' from U.S. trading partners to factor in." In China, mainland markets returned from an extended break on a muted note, with the CSI300 blue-chip index (.CSI300), opens new tab up 0.23% while the Shanghai Composite Index (.SSEC), opens new tab gained 0.3%. Hong Kong's Hang Seng Index (.HIS), opens new tab jumped more than 1%, rebounding from Monday's one-month low. The dollar fell to a six-week low against a basket of currencies to 98.58 on Tuesday, ahead of Friday's U.S. nonfarm payrolls data, which will offer a timely reading on the pulse of activity in the world's largest economy. A rise in unemployment is one of the few developments that could get the Federal Reserve to start thinking of easing policy again, with investors having largely given up on a cut this month or next. The euro scaled a six-week top earlier in the session before paring some of its gains to last trade at $1.1426, while sterling dipped 0.09% to $1.3532. A softer U.S. jobs report would be a relief for the Treasury market, where 30-year yields continue to flirt with the 5% barrier as investors demand a higher premium to offset the ever-expanding supply of debt. The Senate this week will start considering a tax-and-spending bill that will add an estimated $3.8 trillion to the federal government's $36.2 trillion in debt. "The evidence suggests term premium being re-priced considerably higher to account for U.S. fiscal, trade, credit, and geoeconomic risks alongside some hedge against (U.S. dollar) debasement," said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho. The dollar was up 0.35% against the yen at 143.20 , reversing some of its 0.9% decline from the previous session. Bank of Japan Governor Kazuo Ueda said on Tuesday it is important to make policy judgements without any preset ideas as uncertainty over global tariff policies remains extremely high. In commodities, oil prices rose on concerns about supply, with Brent crude futures climbing 0.88% to $65.20 a barrel, while U.S. crude surged 1% to $63.13 per barrel. Spot gold rose to a roughly one-month high of $3,392.03 an ounce.
Daily Mail
an hour ago
- Daily Mail
Trump touts Kid Rock's latest Nashville restaurant after ICE raids briefly shut down musician's steakhouse
President Donald Trump endorsed Kid Rock's lastest Nashville restaurant in a Monday night Truth Social post. Trump called attention to 'The Detroit Cowboy,' which uses the slogan, 'Go where you're celebrated, not tolerated.' It opened last month, with Fox & Friends expected to broadcast from the location Tuesday morning as the eatery officially celebrates its grand opening, with Kid Rock in attendance. 'Congratulations to my friend, Kid Rock (I call him Bob!), on the Grand Opening of his new Nashville restaurant, "The Detroit Cowboy,"' Trump wrote. 'I hear it is a very friendly MAGA establishment, and look forward to going there sometime soon.' The president's nod comes after Kid Rock's Big A** Honky Tonk Rock N' Roll Steakhouse closed its kitchen one Saturday night in mid-May when Immigration and Customs Enforcement raids were happening in the area. The Nashville Scene reported that managers instructed employees without legal citizenship to leave the premises at the Kid Rock-branded establishment, along with several other restaurants on Broadway, Nashville's iconic boulevard. Kid Rock's Big A** Honky Tonk Rock N' Roll Steakhouse is owned by conservative Trump supporter Steve Smith. It was unclear if Smith was aware that illegal immigrants were being asked to leave the kitchens of his restaurants to avoid ICE detection. President Donald Trump congratulated Kid Rock on opening a new Nashville restaurant. 'I hear it is a very friendly MAGA establishment, and look forward to going there sometime soon!' Trump wrote Kid Rock, whose real name is Bob Ritchie, started moving into the restaurant industry during Trump's first term. He opened Kid Rock's Made in Detroit at Little Caesars Arena in late 2017. The next year, he expanded to Nashville with the opening of Kid Rock's Big A** Honky Tonk Rock N' Roll Steakhouse. But in 2019, Made in Detroit closed its doors on the heels of Kid Rock making incendiary comments about Oprah Winfrey. At the time, the stadium's owner said that Kid Rock had 'voluntarily decided not to renew' his licensing agreement, according to the Detroit Free Press. The new restaurant, the Detroit Cowboy, is taking over the space of Joe Muer Seafood, a Detroit mainstay that had its first out-of-state location in Nashville. In a post previewing the Detroit Cowboy, Kid Rock hinted that he was still angry about Made in Detroit's closure. 'A small group of very bad people thought they cancelled me and my restaurant in Detroit in 2020,' he wrote. 'All you dumba**es did was hurt the city I LOVE,' Ritchie added. The Instagram post shows Kid Rock with his white cowboy boot up on a table, with a large painted eagle display at his back. Kid Rock has been a strong supporter of Trump's MAGA agenda. He was one of the entertainers at last summer's Republican National Convention and has made several trips to the White House since the president's January swearing-in. Ritchie facilitated an across-the-aisle dinner between Trump and liberal comedian Bill Maher. He also joined Trump in the Oval Office in March as the president signed an executive order to prevent fans from being victims from ticket scalping scams.
BBC News
an hour ago
- BBC News
Canada to expedite nation-building projects to counter Trump
Canadian Prime Minister Mark Carney said his government will start pushing legislation that would fast-track ambitious national projects to boost Canada's economy, now faced with Donald Trump's outlined his plan on Monday after a meeting - described as "very productive" - with the leaders of Canada's provinces and territories."This has been the best meeting we've had in 10 years," Ontario premier Doug Ford told said his plan is to narrow down a list of so-called "nation building" projects - like pipelines, nuclear reactors and trade corridors - and create a framework in which the projects would be approved in under two years' time. The goal, he said, is to quickly build infrastructure that will make Canada "the strongest economy in the G7," as well as strengthen the country's autonomy and resilience in the future. "This meeting demonstrated how we can give ourselves far more than any foreign government can take away," Carney told meeting marked Carney's first with Canada's premiers since his federal election win in had campaigned heavily on bolstering the country's economy to counter tariff threats from the US, with whom Canada does the bulk of its Trump has imposed tariffs on Canadian steel, aluminium and its auto sector, and said he plans to double levies on steel and aluminium to 50%, starting on Wednesday to "further secure the steel industry in the United States."Carney called the latest tariffs "unjustified and unlawful".He added that Canada's minister for US-Canada trade Dominic LeBlanc will be travelling to the US on Monday evening to resume trade talks. In the meantime, Carney said his government will focus on "projects of national interest" to help Canada sell its resources in more markets, strengthen its security and reduce reliance on other projects can come from provinces or the private sector, and must meet a criteria that includes offering "undeniable benefit" to Canada's economy and having "a high likelihood" of being built successfully. They also must be environmentally clean and sustainable, and a high priority for Canada's indigenous communities, Carney can include anything from highways, railways, ports, airports, pipelines, nuclear projects, clean energy projects and electric transmission lines. Another priority, Carney said, is building infrastructure in the Arctic to secure the territory and cement Canada's sovereignty in the region - where other nations, including China, Russia and the US, are fighting for provinces already have submitted proposals, but Carney did not indicate which, if any, would be premiers - including Alberta's Danielle Smith, who had been highly critical of former Prime Minister Justin Trudeau - appeared unified after their first meeting with said there was "great collaboration" between all leaders, while Smith said she was "encouraged" by Carney's questions remain on whether provinces will find common ground on more contentious projects, like oil and gas Nations leaders also have expressed concern about Carney's plan, saying they fear it will side-step their land and water rights, and have asked for more clarity on how they will be involved.
