May 6, 2025
United States:
US Trade Deficit Widens to a Record on Pre-Tariff Drug Imports
The US trade deficit widened to a record in March as companies rushed to import products including pharmaceuticals as the Trump administration readied sweeping tariffs.
The goods and services trade gap grew 14% from the prior month to $140.5 billion, Commerce Department data showed Tuesday.
Europe:
ECB Stress Test Set to Hit Bank Capital Less After High Profits
The current stress test on Europe’s biggest banks is on track to delivering a lesser hit to capital ratios than the previous one, partly reflecting the sector’s strong profitability last year.
The preliminary result is materializing after initial submissions to the European Central Bank by individual lenders in at least three countries show their capital ratios falling by less than at the same stage of the previous test, people familiar with the matter said.
Asia:
Chinese Trade Flow Resilient at End of April Despite US Tariffs
China’s trade flows increased at the end of April, indicating the damage from US tariffs has yet to manifest in actual shipments even though the trade war is widely expected to eventually slow the world’s second-largest economy.
Chinese ports processed 6.7 million containers in the seven days through April 27, according to data released by the Ministry of Transport on Tuesday.
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