WASHINGTON TRADE RESTRICTIONS
Can Israel keep paying for its war with Iran? Defence experts say it goes at $725 million a day and...
Israel’s twin conflicts in Gaza and Iran have pushed its defence spending to historic highs, with the country now burning through over $725 million daily. Military operations have already cost $67.5 billion in Gaza alone, while the Iran war is adding billions more by the week. Strained budgets, shrinking growth forecasts, and soaring civilian compensation payments reveal the mounting toll. Defence now claims nearly 7% of GDP, sparking fears of long-term economic imbalance and the erosion of public welfare priorities.
Senate Passes Cryptocurrency Bill, Handing Industry a Victory
The Senate has passed the GENIUS Act, establishing a regulatory framework for stablecoins, marking a significant policy shift for the cryptocurrency industry. This bipartisan approval, driven by extensive lobbying, aims to legitimize the sector, though some Democrats express concerns over insufficient oversight and anti-corruption measures.
Battery makers sweat as antimony shortage hits after China's export curbs
China's restrictions on antimony exports, particularly to the U.S., have created a crisis for lead-acid battery manufacturers. Prices have skyrocketed, forcing companies to navigate a grey market and pass costs onto consumers.
US-China trade truce leaves military-use rare earth issue unresolved, sources say
A renewed U.S.-China trade truce in London hit a snag over export restrictions tied to national security. China hasn't committed to clearing rare-earth magnet exports needed by U.S. military suppliers, while the U.S. maintains AI chip export curbs. This unresolved conflict threatens a comprehensive deal, with potential tariff extensions looming and pessimism surrounding breakthroughs before the August 10 deadline.
Russia's strong ties with both Israel and Iran could help it emerge as a power broker
Following Israel's strikes on Iranian facilities and Tehran's retaliatory response, Russia finds itself in a precarious position, balancing relations with both nations. Putin has offered to mediate, urging de-escalation and a return to diplomatic solutions regarding Iran's nuclear program. Some observers believe the conflict could benefit Russia by diverting Western attention from Ukraine and potentially increasing oil revenues.
Meta's $14.8 billion Scale AI deal latest test of AI partnerships
Unlike an acquisition or a transaction that would give Meta a controlling stake, the deal does not require a review by US antitrust regulators. However, they could probe the deal if they believe it was structured to avoid those requirements or harm competition.
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USD Dollar Rate vs Gold Price: Experts predict rates amidst Israel-Iran conflict
Israel-Iran conflict has an effect on gold price and USD rate. Will prices of safe-haven assets go up?
Why stock market fell today? 4 key factors behind Sensex's 573-point crash, Nifty below 24,750
Stock Market Crash: Indian stock markets crashed early Friday following Israeli strikes on Iran. This mirrored losses in Asian markets. The BSE Sensex and Nifty50 both saw significant drops. The oil & Gas sector suffered the most. Broader market indices also declined. Market capitalisation decreased substantially. The Israeli strike and surging oil prices are key factors. Brent crude and U.S.
Strait of Hormuz: The world's most important oil artery
Israel has launched extensive strikes against Iran, targeting nuclear facilities and military assets to prevent Tehran from developing atomic weapons. In response, Iran has threatened to close the Strait of Hormuz, a critical waterway for global oil supply. The strait's potential closure could significantly impact trade and drive up global oil prices, raising concerns about economic stability.
US says China's Huawei can't make more than 200,000 AI chips in 2025
White House AI Czar David Sacks said on Tuesday that China was only 3-6 months behind the US in AI. The White House later said he was referring to China's AI models, adding that Chinese AI chips are one to two years behind their U.S. counterparts. Huawei's CEO Ren Zhengfei told Chinese state media on Tuesday that the company's chips were a generation behind those of US competitors, but that it invests more than $25 billion annually to improve performance.
IT stocks drag Sensex 100 pts lower, Nifty below 25,100
Indian markets traded cautiously amid global uncertainty surrounding the U.S.-China trade situation. While some sectors like pharma and financials saw gains, IT stocks faced pressure due to trade truce concerns. Experts suggest the market may remain range-bound due to a lack of positive triggers and escalating geopolitical tensions, including rising crude oil prices and potential tariff actions.
S&P 500 ends lower; traders focus on Middle East tension and await details on trade deal
Wall Street concluded Wednesday's session lower as escalating Middle East tensions and concerns over U.S.-China trade lingered, overshadowing a benign inflation report. Investors reacted to news of a potential U.S. embassy evacuation in Iraq and Iranian threats, while awaiting further details on trade negotiations.
US-China Trade Deal: From magnets and minerals to markets, what Trump’s China deal really means for trade, tech, and students
US-China trade deal: The United States and China have reached a tentative trade agreement that would see Beijing lift curbs on rare earth mineral exports in exchange for reduced trade restrictions, including access for Chinese students to American universities. Donald Trump said the deal would bring total U.S. tariffs on China to 55% and described the relationship as “excellent.” Though final approval from both Trump and Xi Jinping is pending, the agreement may ease months of tension that disrupted global supply chains, especially in the automotive sector.
Rare earth rattles: As US woos China, India watches and weighs its chances
Amidst China's rare earth export restrictions causing global concern, India is actively seeking joint exploration opportunities with Central Asian nations to diversify its supply chains. Minister Piyush Goyal has called China's actions a "wake-up call," as India aims to become a reliable alternative for businesses reducing dependence on Chinese suppliers, though challenges and a lengthy process are anticipated.
As US trade truce gets back on track, some Chinese exporters are 'slowly dying'
Chinese exporters, like Jacky Ren, are struggling with U.S. tariffs, selling at a loss to retain clients. Despite recent trade talks, U.S. levies remain high, impacting smaller firms. Many face potential bankruptcies and wage delays, as U.S. buyers demand extended payment terms.
US, China reach deal to ease rare earths export curbs, keep tariff truce alive
US, China trade talks: U.S. and Chinese officials have established a framework to revive their trade truce, addressing China's rare earth export restrictions. The agreement, reached after intense London negotiations, aims to build upon a previous Geneva accord to ease retaliatory tariffs. While details remain pending presidential approval, the deal intends to remove some U.S. export controls.
US-China trade framework a step forward, but final deal still unclear: Santosh Rao
US and China are in trade negotiations. The US seeks rare earth materials. China wants US technologies, especially semiconductors. Santosh Rao suggests a potential trade-off. Tariffs remain a key point of discussion. The US imposes a 30% tariff, while China has a 10% tariff. The focus is on reaching a fair trade deal. India stands strong amid global economic shifts.
Stocks offer restrained response to US-China trade framework
Global markets cautiously responded to initial progress in U.S.-China trade talks, awaiting specifics and long-term viability. Bond investors braced for U.S. inflation data, potentially reflecting tariff impacts, and a significant Treasury auction. Negotiators in London agreed on a trade framework to be reviewed by leaders, though details remain scarce.
Why India has an incentive to act tough in Trump trade talks
India and the United States are in talks for a trade deal, aiming for a June deadline. Swaminathan Aiyar suggests India should stand firm like China. He believes Trump is eager for deals before the 90-day deadline. Howard Lutnick is optimistic about a US-India trade agreement before July. Negotiations are progressing, with the US team extending its stay in India.
US Stock market today: Dow flat, S&P 500 edges up, Nasdaq climbs as US-China trade talks continue and investors await key inflation data
US Stock Market Today finds Wall Street holding its breath as US-China trade talks stretch into a second London session. The Dow sits flat, the S&P 500 inches up 0.2 percent, and the Nasdaq gains 0.3 percent, with traders hungry for any hint of progress on rare-earth access and tariff relief. A surprise dip in Chinese shares reminds everyone how fragile sentiment remains. Meanwhile, America’s small-business optimism just posted its first jump since September, yet inflation jitters loom large. All eyes now turn to Wednesday’s May CPI report, poised to clarify price pressures and shape the market’s next decisive move in coming days.
Huawei chips are one generation behind US but firm finding workarounds, CEO says
Ren Zhengfei, Huawei founder and one of the country’s most recognisable business figures, told the Communist Party’s official newspaper he wasn’t worried about Washington’s efforts to cut off the flow of US technology to China’s chip sector. He also expressed confidence that China can make breakthroughs in AI and software.
Dollar steady as traders await details from US-China talks
The U.S. dollar remained stable amid ongoing trade discussions between Washington and Beijing. Investors are cautious, awaiting the U.S. inflation report. Top economic officials are trying to resolve trade disputes. The markets are reacting to the lack of concrete details from the talks. Focus is now shifting to the upcoming consumer price index report.
US-China talks in London: Rare earths, export curbs on table
The first round of negotiations since the teams met a month ago is aimed at restoring confidence that both are living up to commitments made in Geneva. During those discussions, Washington and Beijing agreed to lower crippling tariffs for 90 days to allow time to hammer out ways to address a trade imbalance that the Trump administration blames on an unfair playing field.
US, China seek to extend trade truce with London talks
After a round of talks in Geneva last month, the United States and China will sit down at the negotiating table in London on Monday to attempt to preserve a fragile truce on trade, despite simmering tensions. His press secretary, Karoline Leavitt, "We want China and the United States to continue moving forward with the agreement that was struck in Geneva."
If Elon Musk and President Donald Trump divorce, who gets Silicon Valley?
Elon Musk’s fallout with Donald Trump threatens Silicon Valley’s political ties, as tech leaders who followed Musk in supporting Trump may now face tough choices. Once seen as a key link between tech and Washington, Musk’s rift could jeopardise industry influence and benefits tied to AI, crypto, and satellite policy.
US, Chinese officials to meet in London on June 9 for new round of trade talks
The United States and China will restart trade talks in London on Monday, 9 June, amid renewed tensions over tariffs, technology restrictions, and rare earth exports. President Trump confirmed the meeting after a 90-minute phone call with Chinese President Xi Jinping. Senior US officials, including Scott Bessent and Jamieson Greer, will represent Washington. Despite progress in May, both sides accuse each other of backtracking. China says US policies have created “uncertainty,” while Washington criticises Beijing for “violating” the trade deal.
China okays rare earth licences to suppliers of top three US auto companies
China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with US President Donald Trump. China produces around 90% of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts.
Trump, Xi hold talks amid stalled US-China trade negotiations & global market jitters
US President Trump and Xi Jinping have engaged in discussions as trade negotiations between the U.S. and China remain stalled. Trump acknowledged Xi's toughness in deal-making, highlighting the challenges in reaching an agreement. The gridlock stems from ongoing competition for economic dominance, hindering progress despite initial agreements to reduce tariff rates.
Trump travel ban: Why did he spare Pakistan?
Trump's administration imposed a travel ban on 12 countries, excluding Pakistan. This is a shift from his earlier stance. Previously, Trump criticized Pakistan for harboring terrorists and cut aid. Now, he praises Pakistan and offered to mediate in Kashmir. This change may be linked to deals involving the Trump family and Pakistani entities.
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