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Nahar Net
6 days ago
- Automotive
- Nahar Net
Global markets gain and deal on Trump's tariffs lifts Japan's Nikkei 3.5%
Global shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index gaining 3.5% after Japan and the U.S. announced a deal on President Donald Trump's tariffs. France's CAC 40 added 1.4% in early trading to 7,854.75, while Germany's DAX gained 0.9% to 24,260.62. Britain's FTSE 100 rose 0.6% to 9,075.46. The future for the S&P 500 gained 0.4% while that for the Dow Jones Industrial Average was up 0.5%. The tariff agreement as announced calls for a 15% U.S. import duty on goods from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. "This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it," Trump posted on Truth Social, noting that Japan was also investing "at my direction" $550 billion into the U.S. He said Japan would "open" its economy to American autos and rice. Japan's benchmark Nikkei 225 surged as much as 3.7%, closing at 41,171.32. Hong Kong's Hang Seng jumped 1.6% to 25,538.07, while the Shanghai Composite index was little changed, gaining less than 0.1% to 3,582.30. Australia's S&P/ASX 200 edged up 0.7% to 8,737.20 and the Kospi in South Korea edged 0.4% higher to 3,183.77. "President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least," Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp., Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. The Japan Automobile Manufacturers' Association also said it had no comment, noting there was no official statement yet. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. Toyota stock jumped 14% in Tokyo trading, while Honda was up more than 11% and Nissan added 8%. In other sectors, Nippon Steel, which is acquiring U.S. Steel, rose 2.7% while video game maker and significant exporter Nintendo Co. added 0.7%. Sony Group surged 4.3%. But Takeshi Niinami, chairman of the Japan Association of Corporate Executives, which groups about 1,600 top executives, issued a note of caution about the nation having to be resilient and pushing free trade, while welcoming the tariff deal. "I hope this U.S.-Japan tariff deal can work as a starting point to further strengthen U.S.-Japan relations," he said. He noted the U.S. policy of putting America first was unlikely to change, and that meant Japan, too, must make policy adjustments, such as making an aggressive push in artificial intelligence. Trump has also said that he reached a trade agreement with the Philippines following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there. On Tuesday, the S&P 500 added 0.1% to Monday's all-time high. The Dow Jones Industrial Average rose 0.4%, while the Nasdaq slipped 0.4%. Also early Wednesday, U.S. benchmark crude oil lost 23 cents to $65.08 a barrel. Brent crude, the international standard fell 21 cents to $68.38 a barrel. The U.S. dollar fell to 146.38 Japanese yen from 146.64 yen. The euro cost $1.1736, down from $1.1754.
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
The Latest: Trump will reveal ‘AI Action Plan' shaped by his Silicon Valley supporters
An artificial intelligence agenda formed on the podcasts of Silicon Valley billionaires is now being set into U.S. policy as President Donald Trump leans on the ideas of the tech figures who backed his election campaign. Trump plans on Wednesday to reveal an 'AI Action Plan' he ordered after revoking President Joe Biden's signature AI guardrails. The plan and related executive orders are expected to include some familiar tech lobby pitches: accelerating the sale of AI technology abroad and making it easier to construct the energy-hungry data center buildings that are needed to form and run AI products, according to a person briefed on Wednesday's event who was not authorized to speak publicly and spoke on condition of anonymity. It might also include some of the AI culture war preoccupations of the circle of venture capitalists who endorsed Trump last year. Here's the latest: Global markets rally on Trump's Asian trade deals Global shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index gaining 3.5% after Japan and the U.S. announced a deal on Trump's tariffs. The tariff agreement as announced calls for a 15% U.S. import duty on goods from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Trump announced the U.S. will place a 19% tax on goods from Indonesia and the Philippines. A senior Trump official said Indonesia will charge no tariffs on 99% of its trade with the United States and drop its nontariff barriers on U.S. goods. Trump said the U.S. won't pay any tariffs in the Philippines , but they will pay 19%. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. The Epstein files — delayed, but far from forgotten House Speaker Mike Johnson rebuffed pressure to act on the investigation into Jeffrey Epstein , instead sending members home early on Wednesday for a month-long break from Washington after the week's legislative agenda was upended by Republican members who are clamoring for a vote. 'There's no purpose for the Congress to push an administration to do something they're already doing,' Johnson said at his last weekly news conference. The speaker's stance did little to alleviate the intra-party turmoil unfolding on Capitol Hill as many of Trump's supporters demand that the administration meet its promises to publicly release a full accounting of the sex trafficking investigation into Epstein, who killed himself in his New York jail cell in 2019 while awaiting trial. Under pressure from right-wing online influencers, as well as voters back home, rank-and-file Republicans are demanding House intervention. 'The public's not going to let this die, and rightfully so,' said Rep. Ralph Norman, a South Carolina Republican. Trump says EU will be in Washington for trade talks as tariff deadline nears The president told congressional Republicans at a Tuesday night dinner that European Union officials will be in town Wednesday for the talks. 'We have Europe coming in tomorrow, the next day,' Trump said after announcing a trade framework with Japan. The president sent a letter this month threatening the 27 EU member states with 30% tariffs to be imposed starting Aug. 1. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
San Francisco Chronicle
6 days ago
- Business
- San Francisco Chronicle
The Latest: Trump will reveal ‘AI Action Plan' shaped by his Silicon Valley supporters
An artificial intelligence agenda formed on the podcasts of Silicon Valley billionaires is now being set into U.S. policy as President Donald Trump leans on the ideas of the tech figures who backed his election campaign. Trump plans on Wednesday to reveal an 'AI Action Plan' he ordered after revoking President Joe Biden's signature AI guardrails. The plan and related executive orders are expected to include some familiar tech lobby pitches: accelerating the sale of AI technology abroad and making it easier to construct the energy-hungry data center buildings that are needed to form and run AI products, according to a person briefed on Wednesday's event who was not authorized to speak publicly and spoke on condition of anonymity. It might also include some of the AI culture war preoccupations of the circle of venture capitalists who endorsed Trump last year. Global markets rally on Trump's Asian trade deals Global shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index gaining 3.5% after Japan and the U.S. announced a deal on Trump's tariffs. The tariff agreement as announced calls for a 15% U.S. import duty on goods from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Trump announced the U.S. will place a 19% tax on goods from Indonesia and the Philippines. A senior Trump official said Indonesia will charge no tariffs on 99% of its trade with the United States and drop its nontariff barriers on U.S. goods. Trump said the U.S. won't pay any tariffs in the Philippines, but they will pay 19%. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. The Epstein files — delayed, but far from forgotten House Speaker Mike Johnson rebuffed pressure to act on the investigation into Jeffrey Epstein, instead sending members home early on Wednesday for a month-long break from Washington after the week's legislative agenda was upended by Republican members who are clamoring for a vote. 'There's no purpose for the Congress to push an administration to do something they're already doing,' Johnson said at his last weekly news conference. The speaker's stance did little to alleviate the intra-party turmoil unfolding on Capitol Hill as many of Trump's supporters demand that the administration meet its promises to publicly release a full accounting of the sex trafficking investigation into Epstein, who killed himself in his New York jail cell in 2019 while awaiting trial. Under pressure from right-wing online influencers, as well as voters back home, rank-and-file Republicans are demanding House intervention. 'The public's not going to let this die, and rightfully so,' said Rep. Ralph Norman, a South Carolina Republican. The president told congressional Republicans at a Tuesday night dinner that European Union officials will be in town Wednesday for the talks. 'We have Europe coming in tomorrow, the next day,' Trump said after announcing a trade framework with Japan.
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
The Latest: Trump will reveal ‘AI Action Plan' shaped by his Silicon Valley supporters
An artificial intelligence agenda formed on the podcasts of Silicon Valley billionaires is now being set into U.S. policy as President Donald Trump leans on the ideas of the tech figures who backed his election campaign. Trump plans on Wednesday to reveal an 'AI Action Plan' he ordered after revoking President Joe Biden's signature AI guardrails. The plan and related executive orders are expected to include some familiar tech lobby pitches: accelerating the sale of AI technology abroad and making it easier to construct the energy-hungry data center buildings that are needed to form and run AI products, according to a person briefed on Wednesday's event who was not authorized to speak publicly and spoke on condition of anonymity. It might also include some of the AI culture war preoccupations of the circle of venture capitalists who endorsed Trump last year. Here's the latest: Global markets rally on Trump's Asian trade deals Global shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index gaining 3.5% after Japan and the U.S. announced a deal on Trump's tariffs. The tariff agreement as announced calls for a 15% U.S. import duty on goods from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Trump announced the U.S. will place a 19% tax on goods from Indonesia and the Philippines. A senior Trump official said Indonesia will charge no tariffs on 99% of its trade with the United States and drop its nontariff barriers on U.S. goods. Trump said the U.S. won't pay any tariffs in the Philippines, but they will pay 19%. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. The Epstein files — delayed, but far from forgotten House Speaker Mike Johnson rebuffed pressure to act on the investigation into Jeffrey Epstein, instead sending members home early on Wednesday for a month-long break from Washington after the week's legislative agenda was upended by Republican members who are clamoring for a vote. 'There's no purpose for the Congress to push an administration to do something they're already doing,' Johnson said at his last weekly news conference. The speaker's stance did little to alleviate the intra-party turmoil unfolding on Capitol Hill as many of Trump's supporters demand that the administration meet its promises to publicly release a full accounting of the sex trafficking investigation into Epstein, who killed himself in his New York jail cell in 2019 while awaiting trial. Under pressure from right-wing online influencers, as well as voters back home, rank-and-file Republicans are demanding House intervention. 'The public's not going to let this die, and rightfully so,' said Rep. Ralph Norman, a South Carolina Republican. Trump says EU will be in Washington for trade talks as tariff deadline nears The president told congressional Republicans at a Tuesday night dinner that European Union officials will be in town Wednesday for the talks. 'We have Europe coming in tomorrow, the next day,' Trump said after announcing a trade framework with Japan. The president sent a letter this month threatening the 27 EU member states with 30% tariffs to be imposed starting Aug. 1.
News18
6 days ago
- Automotive
- News18
Global markets gain, deal on Trumps tariffs lifts Japans Nikkei 3.5 per cent
Tokyo, Jul 23 (AP) Global shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index gaining 3.5 per cent after Japan and the US announced a deal on President Donald Trump's tariffs. France's CAC 40 added 1.4 per cent in early trading to 7,854.75, while Germany's DAX gained 0.9 per cent to 24,260.62. Britain's FTSE 100 rose 0.6 per cent to 9,075.46. The future for the S&P 500 gained 0.4 per cent while that for the Dow Jones Industrial Average was up 0.5 per cent. The tariff agreement as announced calls for a 15 per cent US import duty on goods from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25 per cent Trump had said would kick in on August 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it," Trump posted on Truth Social, noting that Japan was also investing 'at my direction" USD 550 billion into the US. He said Japan would 'open" its economy to American autos and rice. Japan's benchmark Nikkei 225 surged as much as 3.7 per cent, closing at 41,171.32. Hong Kong's Hang Seng jumped 1.6 per cent to 25,538.07, while the Shanghai Composite index was little changed, gaining less than 0.1 per cent to 3,582.30. Australia's S&P/ASX 200 edged up 0.7 per cent to 8,737.20 and the Kospi in South Korea edged 0.4 per cent higher to 3,183.77. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least," Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp, Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. The Japan Automobile Manufacturers' Association also said it had no comment, noting there was no official statement yet. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. Toyota stock jumped 14 per cent in Tokyo trading, while Honda was up more than 11 per cent and Nissan added 8 per cent. In other sectors, Nippon Steel, which is acquiring US Steel, rose 2.7 per cent while video game maker and significant exporter Nintendo Co added 0.7 per cent. Sony Group surged 4.3 per cent. But Takeshi Niinami, chairman of the Japan Association of Corporate Executives, which groups about 1,600 top executives, issued a note of caution about the nation having to be resilient and pushing free trade, while welcoming the tariff deal. 'I hope this US-Japan tariff deal can work as a starting point to further strengthen US-Japan relations," he said. He noted the US policy of putting America first was unlikely to change, and that meant Japan, too, must make policy adjustments, such as making an aggressive push in artificial intelligence. Trump has also said that he reached a trade agreement with the Philippines following a meeting Tuesday at the White House, that will see the US slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there. On Tuesday, the S&P 500 added 0.1 per cent to Monday's all-time high. The Dow Jones Industrial Average rose 0.4 per cent, while the Nasdaq slipped 0.4 per cent. Also early Wednesday, US benchmark crude oil lost 23 cents to USD 65.08 a barrel. Brent crude, the international standard fell 21 cents to USD 68.38 a barrel. The US dollar fell to 146.38 Japanese Yen from 146.64 Yen. The Euro cost USD 1.1736, down from USD 1.1754. (AP) SKS NPK NPK view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
