October 7, 2025
United States:
Trump Says US Tariffs on Heavy Truck Imports to Begin Nov. 1
President Donald Trump said 25% duties on medium- and heavy-duty trucks would begin Nov. 1, the latest expansion of his tariff regime aimed at protecting domestic industries. The proposal has been subject to an intense lobbying campaign by
Detroit’s legacy automakers. Trump originally said last month that heavy-duty truck levies would start Oct. 1, but that timeline slipped as officials heard appeals from companies concerned about the the impact.
Europe:
German Factory Orders Drop, Challenging Merz’s Recovery Push
German factory orders unexpectedly fell for a fourth month, another setback to the government as it struggles to lift Europe’s biggest economy out of two years of contraction.
Demand declined 0.8% in August, with large orders preventing an even sharper drop, the statistics office said Tuesday.
Asia:
Japan’s Household Spending Rises More Than Expected in August
Japan’s household spending rose for a fourth month, showing resilience amid persistent inflation as the central bank continues to mull the timing of its next interest rate hike.
Outlays by households adjusted for inflation gained 2.3% from a year ago in August, led by spending on transport and entertainment, the Ministry of Internal Affairs and Communications reported Tuesday
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