Japan, US Trade Negotiators Meet as Aug. 1 Tariff Deadline Looms
Why the Federal Reserve's Building Renovation Costs $2.5 Billion
Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom
Milan Corruption Probe Casts Shadow Over Property Boom
How San Jose's Mayor Is Working to Build an AI Capital
The two met in Washington for more than two hours on Monday evening, Japan's cabinet secretariat said in a statement Tuesday. They had frank, in-depth discussions toward achieving a mutually beneficial agreement, the statement said, while adding that Japan still aims to protect its national interests.
Akazawa is in the US capital for an eighth round of trade talks with his US counterparts — negotiations that have so so far produced no concrete results since they began in April. Japanese Prime Minister Shigeru Ishiba is under renewed pressure to secure reprieves before the Aug. 1 deadline, following his ruling coalition's historic election loss on Sunday.
Barring a deal, universal tariffs on Japan's exports to the US are set to rise to 25% on Aug. 1, up from the baseline 10% and an original 24%.
Asked about how the election results could affect talks with Japan, US Treasury Secretary Scott Bessent deflected the question on Monday.
'Our priorities are not the internal workings of the Japanese government,' Bessent said on CNBC. 'Our priorities are getting the best deal for the American people.'
During his trip to Japan last week when he led the US delegation's visit to the World Expo in Osaka, Bessent said that a mutually beneficial agreement between the two nations remains a possibility. He added that a good deal is more important than a rushed one.
Elon Musk's Empire Is Creaking Under the Strain of Elon Musk
A Rebel Army Is Building a Rare-Earth Empire on China's Border
Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot
How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All
What the Tough Job Market for New College Grads Says About the Economy
©2025 Bloomberg L.P.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Morning Bid: Fizzy market week turns flat
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets A buoyant week for world markets driven by emerging U.S. trade deals with major economies has gone a bit flat into Friday, with the corporate earnings season throwing up a series of high profile disappointments. The interest rate backdrop also turned a shade darker, with the European Central Bank holding its 2% rate steady as expected but with some officials signalling that the bar was high for further easing. Federal Reserve rate cut expectations also continued to tick lower despite relentless political pressure, with futures markets now pricing in just 42 basis points of additional easing this year. * The S&P 500 and Nasdaq eked out marginal gains to new records on Thursday, with Alphabet leading the way after its earnings beat. But Tesla's troubles continued, as it dropped more than 8%. Meanwhile, IBM clocked an 8% earnings day drop, American Airlines fell 10% and Honeywell was off 6%. UnitedHealth lost 5% after a probe into its Medicare practises, and Intel lost 5% overnight on its update. Wall Street futures were flat ahead of Friday's bell. * The European earnings season was also pockmarked with some negative reactions to corporate updates, with shares in German sportswear maker Puma sliding 15% on Friday and French car parts maker Valeo down 9% as both cut full-year outlooks. European stock indexes were down about 0.5%. A rebound in British retail sales last month came in below forecasts too. * A packed diary next week includes the August 1 U.S. tariff deadline, Federal Reserve and Bank of Japan meetings, key U.S. labor market updates, megacap earnings and a heavy Treasury debt auction schedule. Treasury yields were steady to a bit higher on Friday and the dollar nudged up too. Market Minute * Investors cashed out of highly valued global stocks on Friday and the dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. * U.S. President Donald Trump's trade deal with Tokyo opens scope for the Bank of Japan to raise interest rates again this year, sources say, a prospect the central bank may start to telegraph by offering a less gloomy view on the economic outlook. * South Korea's Industry Minister Kim Jung-kwan met U.S. Commerce Secretary Howard Lutnick on Thursday and reaffirmed a commitment to reach a deal on tariffs by the August 1 deadline, South Korea's industry ministry said on Friday. * The optimism sweeping world stock markets following news of emerging and expected U.S. trade deals is undeniable and understandable. But, writes ROI markets columnist Jamie McGeever, it is also puzzling. * U.S. President Donald Trump sprang a double surprise on the copper market when he announced import tariffs of 50% effective next month. ROI metals columnist Andy Home notes that the market was betting on a different outcome. Weekend reads * GEN AI AND PRODUCTIVITY: The Generative AI boom shows encouraging signs of raising the productivity level of the wider economy, according to a Federal Reserve Board discussion paper. But the researchers conclude that GenAI's contribution to productivity growth will depend on the speed with which its benefits are obtained, and notes that historically it takes time for revolutionary technologies to be integrated into the economy. * SUBNATIONAL DEBTS: Debates about debt sustainability often only focus only on "sovereign" or central government balances and ignore a complex, growing role of subnational governments. In a piece on CEPR's VoxEU site, economists Sean Dougherty, Acaua Brochado and Pietrangelo de Biase point out how subnational government accounts for nearly 40% of public investment and more than a quarter of public spending. They argue these entities face tighter borrowing conditions, increasing investment responsibilities and market structures that often fail to price risk accurately. Left unaddressed, these dynamics could undermine both macro stability and government priorities. * DIGITAL SOVEREIGNTY: Europe's systemic dependency on Big Tech's social-media platforms threatens the continent's digital sovereignty as policymakers argue there's little alternative. But, as developer Sebastian Vogelsang argues on Project Syndicate this week, this ignores the potential for building apps on open-source frameworks like the AT Protocol, the foundation for Bluesky. * 'SPY COCKROACHES'?: For Gundbert Scherf - the co-founder of Germany's Helsing, Europe's most valuable defence start-up - Russia's invasion of Ukraine changed everything. As Reuters' Supantha Mukherjee, Sarah Marsh and Christoph Steitz report, the Munich-based company more than doubled its valuation to $12 billion at a fundraising last month. Scherf - a former partner at McKinsey - says Europe may be on the cusp of a transformation in defence innovation akin to the Manhattan Project. * SYRIA'S ECONOMICS: A Reuters investigation found that Syria's new leadership is secretly restructuring an economy broken by corruption and years of sanctions against Assad's government, under the auspices of a group of men whose identities have until now been concealed under pseudonyms. Away from public scrutiny, the committee obtained assets worth more than $1.6 billion. That tally is based on accounts of people familiar with its deals to acquire business stakes and cash seizures, including at least $1.5 billion in assets taken from three businessmen and firms in a conglomerate once controlled by Assad's inner circle. Chart of the day With Fed policy under a microscope, attention switches to the labor market next week - culminating in the release of the national employment report on Friday. Economists polled by Reuters expect the economy added 102,000 non-farm payrolls this month - which would be the lowest monthly tally since February. However, the U.S. Labor Department on Thursday showed jobless claims last week fell to 217,000 - well below estimates - signaling continued resilience in the job market. Today's events to watch * U.S. June durable goods orders (8:30 AM EDT) * U.S. corporate earnings: Aon, HCA Healthcare, Charter Communications, Phillips 66, Centene * South Korea's Finance Minister Koo Yun-cheol and Minister for Trade Yeo Han-koo meet U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer in Washington * U.S. President Donald Trump makes private visit to Scotland -- Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, and you can follow us on LinkedIn Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (by Mike Dolan; editing by) Sign in to access your portfolio
Yahoo
19 minutes ago
- Yahoo
The 3.6% return this week takes Trip.com Group's (NASDAQ:TCOM) shareholders three-year gains to 148%
It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. But if you buy shares in a really great company, you can more than double your money. For example, the Group Limited (NASDAQ:TCOM) share price has soared 147% in the last three years. How nice for those who held the stock! Also pleasing for shareholders was the 12% gain in the last three months. But this move may well have been assisted by the reasonably buoyant market (up 16% in 90 days). Since it's been a strong week for Group shareholders, let's have a look at trend of the longer term fundamentals. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). During three years of share price growth, Group moved from a loss to profitability. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). We know that Group has improved its bottom line over the last three years, but what does the future have in store? It might be well worthwhile taking a look at our free report on how its financial position has changed over time. A Different Perspective We're pleased to report that Group shareholders have received a total shareholder return of 49% over one year. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 19% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. Before forming an opinion on Group you might want to consider these 3 valuation metrics. If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Tight security as Trump heads to Scotland for diplomacy and golf
US President Donald Trump was due to arrive in Scotland on Friday for a mix of diplomacy, business and leisure, with a huge security operation swinging into place and protests planned near his family-owned golf resorts. The president, whose mother was born in Scotland, is expected to split his time between two seaside golf courses bearing his name, in southwestern coastal Turnberry and Aberdeen in the northeast. Air Force One carrying the president and White House staff was due to arrive around at 8:20 pm local time (1920 GMT) and Trump has no public events scheduled for Saturday or Sunday, the White House said. Police Scotland, who are bracing for mass protests in Edinburgh and Aberdeen as well as close to his golf courses, said there will be a "significant operation across the country over many days". An avid golfer, Trump is expected to tear himself away from the greens to meet with British Prime Minister Keir Starmer at some point, but details of that meeting have not been released. Starmer is not reputed to be as passionate about golf as the 79-year-old Republican, and may have other concerns to tee off on. The US and the UK announced a trade agreement in May, but London is worried about Trump's stated intention to "refine" the deal. The British leader, who has dodged the exorbitant import/export tariffs other countries have been saddled with, will aim to stay in the good graces of the unpredictable American leader. The international outcry over the conflict in Gaza may also be on the agenda, amid growing pressure on Starmer to follow French President Emmanuel Macron and announce the UK will also recognise a State of Palestine. - Protests - Trump is expected to return to the UK in September for a state visit -- his second -- at the invitation of King Charles III, which promises to be lavish. During a 2023 visit, Trump said he felt at home in Scotland, where his mother Mary Anne MacLeod grew up on the remote Isle of Lewis before emigrating to the United States at age 18. The affection is not necessarily mutual in Scotland. Residents, environmentalists and elected officials have also voiced discontent over the Trump family's construction of a new golf course, which he is expected to open before he heads back to the UK on Tuesday. Scotland's leader, First Minister John Swinney, said the country "shares a strong friendship with the United States that goes back centuries". He said he would meet with Trump during the visit and said the US leader's trip provided Scotland with a "platform to make its voice heard on the issues that matter, including war and peace, justice and democracy". Trump has also stepped into the sensitive debate in the UK about green energy and reaching net zero, with Aberdeen being the heart of Scotland's oil industry. He said the UK should "stop with the costly and unsightly windmills, and incentivise modernised drilling in the North Sea, where large amounts of oil lay waiting to be taken". "A century of drilling left, with Aberdeen as the hub," the president wrote on his Truth Social platform about Europe's oil and gas hub. - US discontent - The trip to Scotland puts physical distance between Trump and the latest twists in the case of convicted sex offender Jeffrey Epstein, the wealthy financier accused of sex trafficking who died in prison in 2019 before facing trial. In his heyday, Epstein was friends with Trump and others in the New York jet-set, but the president is now facing backlash from his own MAGA supporters who demand access to the Epstein case files. Many support a conspiracy theory under which "deep state" elites protected rich and famous people who took part in an Epstein sex ring. But Trump is urging his supporters to move on and drop the case. The Wall Street Journal, which published an article detailing longstanding links between Trump and the sex offender, is being punished by the White House. Its reporting staff plans to travel to Scotland on its own and join the White House press pool. But it has now been denied a seat on Air Force One for the flight back home. While Trump's family has undertaken many development projects worldwide, the president no longer legally controls the family holdings. But opponents and watchdog groups have accused him of many conflicts of interest and using his position as US president to promote private family investments, especially abroad. The American NGO Citizens for Responsibility and Ethics in Washington said in May that 21 development projects were already underway abroad during Trump's second term. aue-jkb/jj/yad Solve the daily Crossword
