August 31, 2026
United States:
Bessent Says He’ll Ask G20 to Rethink Trade Terms With China
US Treasury Secretary Scott Bessent said he plans to ask Group of 20 members to review their terms of trade with China, Reuters reported, underscoring lingering tensions before the leaders of the world’s two biggest economies meet next month.
“The world cannot have a China with a $1.2 trillion trade surplus,” Bessent told the news agency Sunday. “The rest of the world is going to have to examine their terms of trade with China.”
Europe:
German Inflation Edges Higher, Adding to Case for ECB Hike
German inflation inched higher, reinforcing the case for the European Central Bank to raise interest rates next month.
Consumer prices jumped an annual 2.9% in August after advancing 2.8% the previous month.
Asia:
Japan’s Industry Ministry Seeks Unprecedented $49 Billion Budget
Japan’s Industry Ministry is seeking an unprecedented ¥7.8 trillion ($49 billion) to accelerate investment in semiconductors, AI and other strategic industries at the heart of Prime Minister Sanae Takaichi’s growth agenda.
The Ministry of Economy, Trade and Industry made the request Monday for the fiscal year starting in April 2027, as Takaichi calls for ¥370 trillion in public and private investment across key industries over 14 years.
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