Link Securities | Trade negotiations between the US and China concluded on Tuesday, with negotiators suggesting that the meeting was productive but without making any major announcements. No explicit decision was taken, nor was a 90-day extension of the deadline for imposing tariffs agreed, which in China’s case is 12 August. In this regard, Treasury Secretary Scott Bessent said that it is an option but that President Trump will make…
Link Securities | The digital portal Bolsamania.com reported that President Donald Trump has indicated that he will ‘probably’ implement a general tariff of between 15 and 20% on imports to the United States from countries that have not negotiated separate trade agreements. ‘For the world, I would say it will be somewhere between 15 and 20%… I just want to be nice,’ the president said during a press conference with…
Morgan Stanley | Following expected strength during the summer, our analyst Martijn Rats believes that the market will return to surplus figures and that prices will continue to weaken in 2H25 to $60/bbl. Large inventories have been built up during 1H25, but only 10% of these are in OECD commercial centres. Therefore, the expert expects that throughout the summer, the price will remain stable in the face of a more…
Link Securities | US President Donald Trump announced yesterday a trade agreement with Japan that will result in the imposition of 15% trade tariffs on Japanese imports, instead of the 25% tariffs announced in the initial letter. Government officials from both countries confirmed that this tariff reduction will also apply to automobiles. Trump said Japan agreed to open its agricultural and automotive markets to US companies. Bloomberg quoted a senior…
Link Securities | According to a report published yesterday by the financial news website CNBC, the European Union (EU) appears to be considering the possibility of deploying its ‘anti-coercion instrument’ — designed as a ‘nuclear option’ to deter trade disputes — in response to the imminent threat of the US government imposing a 30% tariff on EU imports. According to reports, several EU member states, including France and Germany, are…
Bankinter | Industrial production and capacity utilisation exceeded expectations in June. Industrial production rose by 0.3% month-on-month in June, compared to expectations of 0.1% and the previous figure of 0.0%. Capacity utilisation stood at 77.6%, compared to expectations of 77.4% and the previous figure of 77.5%. By segment, all areas improved and posted growth in June. Analysis team’s view: Industrial activity has been positive for three consecutive months, taking advantage…
Link Securities | The Department of Labor reported that the US consumer price index (CPI) rose 0.3% in June compared to May, in line with the consensus forecast by FactSet analysts. In June, clothing prices rebounded by 0.4% (versus a drop of 0.4% in May) and transportation services by 0.2% (versus a drop of 0.2% in May), while the growth in healthcare services prices accelerated (0.6% versus 0.2% in May)….
Bankinter | The US will impose 30% tariffs on the European Union. They will come into effect on 1 August. The tariff will apply across the board to European products imported by the United States. From Europe, Von der Leyen maintains a constructive tone and leaves the door open for further progress in negotiations, while preparing countermeasures. On the same Saturday, the United States also imposed a 30% tariff on…
Intermoney | The trade surplus rose to $114.7 billion. This was largely due to exports rebounding by 5.8% year-on-year, while imports picked up with a 1.1% year-on-year increase in June, after three months of negative growth. By country, the first thing to look at was the evolution of trade relations with the US, where we once again witnessed a rebound in the Chinese surplus, which rose to $26.5 billion. Shipments…
Renta 4 | The United States has continued to send letters (to six countries) informing them of its next steps, mainly the establishment of tariffs from 1 August. However, on Wednesday, these were sent to countries of lesser importance in terms of trade volume, while the markets remain complacent in anticipation of the announcement of trade agreements with more important partners (the EU and India). In addition, countries such as…