February 24, 2026
United States:
Trump’s 10% Levy Takes Effect as US Rebuilds Tariff Wall
Donald Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the president’s trade agenda after the Supreme Court struck down his original sweeping duties.
The president signed an executive order last Friday authorizing the 10% import tax just hours after the ruling.
Europe:
ECB Touts Lighter Burden on Banks in Planned Underwriting Review
The European Central Bank said it will take a leaner approach to a planned review of credit underwriting at lenders after pledging to reduce the burden of its oversight of the industry.
“Our approach aims to strike a balance between gathering the necessary data to assess and benchmark credit underwriting practices and minimizing the reporting costs for banks,” Sharon Donnery, a member of the ECB’s Supervisory Board, wrote in a blog post on Tuesday.
Asia:
Yen Slides After Report on Takaichi Caution Over Rate Hikes
The yen extended declines on Tuesday after local media reported that Japanese Prime Minister Sanae Takaichi voiced apprehension over more rate hikes in a meeting with Bank of Japan Governor Kazuo Ueda last week.
The Japanese currency fell as much as 1.1% against the dollar to 156.28, underperforming all of its Group-of-10 peers. Takaichi took a “tougher stance” than in their previous meeting in November, the Mainichi newspaper reported, citing unidentified people.
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