The U.S. trade deficit in goods narrowed to the lowest level in nearly two years in June as imports fell sharply, cementing economists' expectations that trade likely accounted for much of an anticipated rebound in economic growth in the second quarter.
President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug. 1 deadline.
The International Monetary Fund on Tuesday raised its global growth forecasts for 2025 and 2026 slightly, citing stronger-than-expected purchases ahead of an August 1 jump in U.S. tariffs and a drop in the effective U.S. tariff rate to 17.3% from 24.4%.
Oil prices steadied in Asian trade on Wednesday, cooling after strong gains in the prior session as focus turned to a potential build in U.S. inventories, as well as an upcoming interest rate decision.
Asian stock markets were mixed on Wednesday, with Australia gaining on a soft quarterly inflation print, though investors remained cautious ahead of key central bank decisions from the Bank of Japan and the Federal Reserve.
A tactic used by Chinese automakers and dealers to inflate car sales has grown increasingly common in recent years in response to a bruising price war in the world's largest auto market, a Reuters analysis of consumer complaints has found.