Latest news with #USTariffs
CNA
2 days ago
- Business
- CNA
Philippines' Marcos to discuss trade and security during US visit as tariffs loom
MANILA: Philippine President Ferdinand Marcos Jr will visit the United States next week with a clear message to President Donald Trump that the Philippines must become economically stronger if it is to serve as a truly robust partner, an official said on Friday (Jul 18). The visit, the first by an ASEAN head of state since Trump took office in January, will focus on economic cooperation, with Marcos expected to discuss concerns over proposed US tariffs on Philippine exports. "The President's official visit also aims to address the US tariff proposed to be levied on Philippine exports," Department of Foreign Affairs Assistant Secretary Raquel Solano told a media briefing. Trump raised reciprocal tariffs on Philippine exports to 20 per cent this month from the 17 per cent threatened in April. Talks between Philippine trade officials and their US counterparts are ongoing in Washington to hopefully seal a reciprocal deal that is "mutually acceptable and mutually beneficial" for both countries, Solano said. During the visit, the two leaders will also discuss closer cooperation in defence and security matters, including issues in the South China Sea where Manila and Beijing have had a series of maritime confrontations. Relations between Manila and Beijing have soured under Marcos, who has pivoted closer to the United States, granting it expanded access to Philippine military bases as both countries aim to counter what they have described as China's assertiveness in the South China Sea and towards Taiwan. "The purpose of this visit is to further strengthen the Philippines-United States Alliance, to proactively engage the US in all aspects of the relations and seize opportunities for greater security and economic cooperation," Solano said. The United States and the Philippines have a seven-decade old mutual defence treaty and hold dozens of annual exercises, which have included training with US Typhon missile system, and more recently with the NMESIS anti-ship missile system, angering China.
Reuters
2 days ago
- Business
- Reuters
European shares rise as investors focus on earnings
July 18 (Reuters) - European shares rose on Friday, on course for small weekly gains, as investors focussed on corporate earnings for clues on the impact of U.S. tariff policies on businesses. The pan-European STOXX 600 index (.STOXX), opens new tab rose 0.3% to 548.84 points, as of 0731 GMT, and was on track for a second weekly gain. Other major regional indexes, including the German DAX (.GDAXI), opens new tab, France's CAC 40 (.FCHI), opens new tab and Britain's FTSE 100 (.FTSE), opens new tab also rose modestly. Wall Street indexes touched record highs on Thursday after strong economic data and earnings reports showed American consumers remained willing to spend. Swedish defence material maker Saab ( opens new tab jumped 12.7%, the top gainer in the STOXX 600, after it posted higher-than-expected second-quarter earnings and raised its sales outlook. Vestas Wind Systems ( opens new tab gained 8.8% after J.P. Morgan upgraded the Danish wind turbine maker to "overweight" from "neutral". On the flip side, GSK (GSK.L), opens new tab fell more than 6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep. Swedish home appliances maker Electrolux ( opens new tab slumped 14.6% after poor second-quarter performance in Europe and India's Reliance Industries ( opens new tab said its retail unit acquired home appliance maker Kelvinator from Electrolux.
Bloomberg
2 days ago
- Business
- Bloomberg
Malaysian Growth Unexpectedly Accelerates Despite Trade Risks
Malaysia's economy grew faster than expected in the second quarter, driven by the services sector, even as the country contends with US President Donald Trump's rollout of global tariffs. Gross domestic product rose 4.5% in the April-June period from a year earlier, according to advance estimates from the Department of Statistics Malaysia. That's higher than the 4.2% median estimate in a Bloomberg survey, and faster than the 4.4% expansion in the first three months of the year.
Yahoo
10-07-2025
- Business
- Yahoo
BOJ sees US tariff hit to exports limited for now, warns of gloom ahead
By Leika Kihara TOKYO (Reuters) -The impact of U.S. tariffs on Japan's exports and output was limited for now, but many companies worried about the risk of weaking global demand ahead, the central bank said on Thursday. While some areas in Japan saw companies delaying or reviewing capital expenditure plans, others said companies continued to increase spending to streamline operations and cope with labour shortages, according to a summary of the BOJ's quarterly meeting of regional branch managers. "At present, the impact was limited overall," the summary said on how higher U.S. tariffs were affecting exports and factory output in regional Japan. "As for the outlook, many regions saw companies voicing concern about slumping demand from rising U.S. sales prices and a slowdown in the global economy," the summary said. In a separate report, the BOJ maintained its assessment for all nine regions from three months ago to say their economies were recovering moderately. The summary and report will be among factors the BOJ will scrutinise at its next policy meeting on July 30-31, when the board will issue fresh quarterly growth and price forecasts. 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
CNA
10-07-2025
- Business
- CNA
BOJ sees US tariff hit to exports limited for now, warns of gloom ahead
TOKYO :The impact of U.S. tariffs on Japan's exports and output was limited for now, but many companies worried about the risk of weaking global demand ahead, the central bank said on Thursday. While some areas in Japan saw companies delaying or reviewing capital expenditure plans, others said companies continued to increase spending to streamline operations and cope with labour shortages, according to a summary of the BOJ's quarterly meeting of regional branch managers. "At present, the impact was limited overall," the summary said on how higher U.S. tariffs were affecting exports and factory output in regional Japan. "As for the outlook, many regions saw companies voicing concern about slumping demand from rising U.S. sales prices and a slowdown in the global economy," the summary said. In a separate report, the BOJ maintained its assessment for all nine regions from three months ago to say their economies were recovering moderately. The summary and report will be among factors the BOJ will scrutinise at its next policy meeting on July 30-31, when the board will issue fresh quarterly growth and price forecasts.
