May 1, 2026
United States:
Fitch Warns US Debt Burden Is ‘Far Above’ Other AA Rated Nations
Fitch Ratings is warning the US’s credit grade faces the challenges of a widening deficit that leaves its debt burden “far above” other nations that share its AA score.
Deterioration is likely in the US fiscal position this year due to tax cuts in the One Big Beautiful Bill Act, despite offsets from tariff revenue, a Fitch team including Richard Francis and Shelly Shetty wrote in a Thursday report.
Europe:
Trump’s US Tariffs Turn UK Trade Surpluses Into Deficits
President Donald Trump’s tariffs have resulted in a sharp fall in UK exports to the US, turning British trade surpluses into deficits in a dramatic reversal of transatlantic trade dynamics, according to official data.
UK goods shipments to the US plunged 25% to £4.7 billion ($6.4 billion) in April last year after Trump’s sweeping global levies took effect — and they have not recovered since, figures from the Office for National Statistics showed on Friday.
Asia:
Tokyo Inflation Cools on Childcare Support, Backing BOJ Caution
Tokyo’s key inflation gauge unexpectedly slowed on the back of expanded subsidies for childcare, staying below the Bank of Japan’s target in a result that supports the bank’s cautious approach toward resuming interest rate hikes.
The consumer price index excluding fresh food rose 1.5% in April from a year earlier in the capital, the smallest gain since March 2022, the Ministry of Internal Affairs and Communications said Friday.
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