Japan trade negotiator Akazawa discusses US tariffs with Lutnick on phone
"The two sides re-confirmed each other's position on U.S. tariff measures and engaged in deep conversation," the government said in a statement on Thursday, adding that Tokyo will continue dialogue with Washington on the issue.
The phone talks came after President Donald Trump said on Wednesday that the U.S. would likely keep 25% tariffs on imports from Japan, which take effect from August 1, unless the countries agree on a trade deal.
According to domestic media, Japanese Prime Minister Shigeru Ishiba is arranging to meet U.S. Treasury Secretary Scott Bessent in Tokyo on Friday, where the two sides may discuss trade.
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Geeky Gadgets
26 minutes ago
- Geeky Gadgets
Get Ready: Samsung Galaxy Tab S11 Ultra Release Date & Rumors!
Samsung is gearing up to release its next-generation flagship tablet series, the Galaxy Tab S11 lineup. This highly anticipated launch will include two models: the standard Galaxy Tab S11 and the premium Galaxy Tab S11 Ultra. With notable advancements in hardware, design, and performance, this series is poised to elevate the tablet experience for a wide range of users. Here's a detailed look at what to expect. Watch this video on YouTube. Two Models Designed for Versatility The Galaxy Tab S11 series will feature two distinct models, each tailored to meet specific user needs: Galaxy Tab S11: Positioned as the more accessible option, this model is expected to strike a balance between performance and affordability. It will likely appeal to everyday users who prioritize functionality for tasks like browsing, streaming, and light productivity. Positioned as the more accessible option, this model is expected to strike a balance between performance and affordability. It will likely appeal to everyday users who prioritize functionality for tasks like browsing, streaming, and light productivity. Galaxy Tab S11 Ultra: Designed for power users, the Ultra model is anticipated to include innovative specifications and premium features. It will cater to demanding tasks such as gaming, multimedia editing, and professional productivity, making it ideal for those who need top-tier performance. This streamlined two-model approach marks a departure from Samsung's previous strategy, which often included a 'Plus' variant. By simplifying the lineup, Samsung aims to make the decision-making process easier for consumers while broadening its appeal across different market segments. Launch Timeline and Market Position While Samsung has not officially announced a release date, the Galaxy Tab S11 series is expected to debut in late summer 2024. This timing aligns with Samsung's typical product launch schedule, which often coincides with its Galaxy Unpacked events in August. However, a September release remains a possibility if Samsung chooses to stagger its announcements. The timing of this launch is strategic, as it positions the Galaxy Tab S11 lineup to compete directly with other premium tablets, including Apple's iPad Pro series. By unveiling the devices during a high-profile event, Samsung can capitalize on the excitement surrounding its broader ecosystem of products, including smartphones and wearables. Performance and Hardware Innovations One of the most exciting aspects of the Galaxy Tab S11 Ultra is its rumored use of the MediaTek Dimensity 9400 Plus chipset. This advanced processor is engineered to deliver exceptional performance, particularly for GPU-intensive tasks such as gaming, video editing, and multitasking. While the Dimensity 9400 Plus may not achieve the same benchmark scores as the latest smartphone chipsets, it is expected to provide a smooth and efficient user experience. If these rumors are accurate, this would represent a significant shift for Samsung, which has traditionally relied on Qualcomm Snapdragon processors for its flagship tablets. This change could signal a broader strategic pivot in Samsung's approach to hardware partnerships. Battery Life: A Key Selling Point Battery performance is a critical consideration for tablet users, and Samsung appears to be addressing this with significant capacity upgrades: Galaxy Tab S11: Rumored to feature an 8,160 mAh battery, this model is expected to offer extended usage for everyday tasks, making sure reliability for casual users. Rumored to feature an 8,160 mAh battery, this model is expected to offer extended usage for everyday tasks, making sure reliability for casual users. Galaxy Tab S11 Ultra: Anticipated to include an impressive 11,374 mAh battery, the Ultra model is designed to meet the needs of power users who require long-lasting performance for work, travel, and entertainment. These battery enhancements, combined with software optimizations, could set a new standard for battery life in the premium tablet market. This focus on longevity will likely resonate with users who depend on their devices for uninterrupted productivity and entertainment. A Refined Product Strategy Samsung's decision to reintroduce the base Galaxy Tab S11 model while potentially discontinuing the 'Plus' variant reflects a deliberate shift in strategy. By focusing on just two models, Samsung simplifies its product lineup, making it easier for consumers to choose the device that best suits their needs. This approach also positions Samsung to compete more effectively with rivals like Apple, whose iPad Pro series dominates the high-end tablet market. By offering a clear distinction between the standard and Ultra models, Samsung can cater to both casual users and professionals, making sure that its devices remain competitive across multiple price points. Anticipated Features and Launch Event The Galaxy Tab S11 series is expected to be unveiled shortly after Samsung's Galaxy Unpacked event, where the company traditionally showcases its latest innovations. This timing would allow Samsung to generate excitement around its entire ecosystem of devices, including smartphones, wearables, and tablets. Key features to watch for include: Enhanced displays: Both models are likely to feature high-resolution AMOLED screens with improved brightness and color accuracy, making sure an immersive viewing experience. Both models are likely to feature high-resolution AMOLED screens with improved brightness and color accuracy, making sure an immersive viewing experience. 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Learn about our Disclosure Policy.
Reuters
27 minutes ago
- Reuters
Exclusive: Petrobras may redirect oil to Asia due to US tariff on Brazil, CEO says
RIO DE JANEIRO, July 17 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab may redirect the oil it sells to the United States, sending more to Asia and Pacific markets due to higher tariffs the U.S. announced on Brazil, its chief executive told Reuters on Thursday. Although oil and gas exports make up a hefty share of Brazil's exports to the United States, Petrobras CEO Magda Chambriard said it is not an essential market for the firm. "It is not much that we export (to the U.S.). In general, we are not very worried," she said in her first public comments about the 50% tariff U.S. President Donald Trump announced last week.
Reuters
27 minutes ago
- Reuters
US companies adopt options strategies to shield euro revenues in case dollar recovers
NEW YORK, July 17 (Reuters) - Some U.S. companies are taking advantage of more attractive pricing in euro options to protect the revenues they expect from Europe against losses, fearing the common currency may have strengthened a bit too far. The euro rose against the dollar after the U.S. rolled out larger-than-expected tariffs in April, knocking the buck to a three-year low and raising concerns about U.S. assets, its exceptionalism and economic growth. That rationale is being challenged with U.S. stocks (.SPX), opens new tab staging a 26% recovery from their April lows to rise 6.4% for the year, aided by postponements to the implementation of import tariffs, better-than-feared first-quarter earnings and positive economic data. The options market reflects how investors and traders expect currencies to perform. Right now they are signaling less conviction in further dollar weakness, and some companies have been buying up euro put options that will appreciate if the euro weakens, to hedge their cash flow against euro weakness. A weak euro could dampen earnings for U.S. companies if profits made overseas are repatriated at unfavorable exchange rates. "Companies with euro revenues are saying, 'we got a great run, let's just make sure that we don't get hit hard on the downside'," said Eric Merlis, co-head of global markets, at Citizens in Boston, explaining some of his clients' thinking. "There is not as much conviction around a continued run in the euro, so a little bit of protection is helpful." Holders of put options have the right to sell the underlying currencies at a fixed price and date. They are typically bought to express a bearish view. With currencies quoted in pairs, a bearish position on the euro indicates a view of dollar strength. Conversely, a euro call would gain value if the euro rises and is the same as a dollar put. Euro/dollar options activity continued to surge in June, with $803 billion notional reported, but down from the previous high of $907 billion in April, according to data from Clarus, an ION company. Traders and advisors said over the past three weeks, U.S. corporates expressed more interest in euro puts to set up for future earnings, reversing some of the short dollar trades that populated the market since tariffs were announced. Traders said the market sees a lid on the euro between $1.18 and $1.20, compared to its current level around $1.16. "The options market is unwinding to a lot of the short dollar positioning," said Garth Appelt, head of foreign exchange trading at Mizuho Americas, whose desk sold off all those trades last week. "This whole theory of the U.S. exceptionalism not in play has not worked out since April," he added. "The dollar should weaken for many reasons, which are very centric to the U.S., but we don't have an alternative to growth pickup." Data from CME Group showed the bulk of demand has switched to euro puts so far in July. Since March there had been more interest in euro call options on the exchange. Meanwhile, the over-the-counter market showed that euro calls made up 58.73% of euro/dollar options transactions in June, down from the high of 60% seen in April, according to Clarus data. Euro puts were 41.26% in June, up from 39.96% in April. Paula Comings, head of FX sales at U.S. Bank, said some of her healthcare clients started using zero-cost collars in late June to shield the revenues from Europe as persistent strength in the U.S. economy and robust employment numbers continue to defy earlier concerns about U.S. exceptionalism. In this case, the collars involve the sale of euro call options to finance the purchase of euro puts up to two years out. As Comings explained, a company wanting to sell euros for dollars a year from now can lock in a forward rate of $1.188, or use a zero-cost collar to cap the range between $1.2518 and a worst case $1.1338. In late February, it could have locked in a forward of $1.058, or used a collar between $1.0991 and $1.0049. "It's really blown up in recent weeks. The dynamics are some of the best we've seen in 20 years," said Comings. "We have several others that are noodling on this." Chris King, co-founder at advisory Dukes & King in London, is also seeing clients move to protect next year's budget with some of these strategies. "If you're an American business, you haven't previously had a favorable spot rate," King said. "Now you've got the benefit of that spot move, combined with that yield curve benefit. So, if you're a U.S. seller of euros you can get a very favorable profile, particularly if longer dated." The dollar has fallen 12% against the euro for the year. With U.S. President Donald Trump delaying reciprocal tariffs to August 1, and remaining on the offensive with the European Union and other trading partners, currency markets could see more gyrations in coming weeks. Conversely, Jackie Bowie, head of EMEA at Chatham Financial, a hedge adviser in the UK, said with the dollar historically low, U.S. companies could benefit the most from just buying in the forward market when converting cash flows back to dollars. Still, a head of corporate derivatives at a large U.S. bank said of the zero-cost collars: "You're at this very attractive point for corporates who haven't seen a rate like this in many years."
