July 7, 2025
United States:
Trump Sets Aug. 1 Tariff Start Ahead of Wednesday Deadline
President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, as countries negotiated through the weekend to avoid the highest punitive measures on their exports to the US before a Wednesday deadline.
The time line for the talks appeared to be reset after US officials signaled that trading partners will have until Aug. 1 before the tariffs kick in.
Europe:
German Industry Bounces Back as Firms Front-Run US Tariffs
German industrial production unexpectedly rose in May, suggesting companies rushed production before potentially much higher tariffs on exports to the US.
Output increased 1.2% from April, the statistics office said Monday. Economists had predicted a 0.2% dip, according to the median estimate in a Bloomberg survey. Car, pharmaceuticals and energy production all rose.
Asia:
Japan’s Real Wages Fall Most Since 2023 in Headache for Ishiba
Japanese workers’ real wages dropped by the most since September 2023 as inflation continued to outpace salary growth, posing a growing problem for Prime Minister Shigeru Ishiba ahead of a key election taking place in about two weeks.
Real wages declined 2.9% from a year earlier in May, compared to economists’ consensus call of a 1.7% fall, the labor ministry reported Monday.
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