‘Taco trade’ dominates as stocks, bonds and currencies remain calm
Levies on world’s top arabica producer rattles investors in sector
No sensible government would think of emulating his trade policies as they have his other plans
US president accuses country of launching a ‘witch-hunt’ against former leader Jair Bolsonaro
Brazil signalled it would respond after being hit with a high 50% levy on goods shipped to the US
Export growth has been strong but not lived up to its potential
CEO to talk with Chinese officials next week, aiming for September unveiling of processor compliant with US export controls
LME price sinks as traders bet any levies will ultimately hit demand for industrial metal
Shares in drugmakers show little reaction to US president’s latest pronouncement
Central bank officials warn some heavily indebted firms are ‘particularly exposed to global shocks’
President also says he will impose levies of up to 200% on drug imports after a transition period
Also in this newsletter: EU delegation ordered to leave Libya
Brussels is not expecting same access to US market as British steel, cars and other products
Beijing’s deflation fears deepen as intense competition weighs on producers
US president threatens Cambodia, Indonesia, Laos, Malaysia and Thailand with duties ranging from 25%-40%
Trump floats 200% tariff on medicines, while threat of 50% levy on copper imports sent price of metal to record high
Goldman Sachs joins other banks in lifting end-of-year target for S&P 500 index
Also in today’s newsletter, White House pushes back on allegations that workforce cuts hampered Texas flood alert
PM Shigeru Ishiba’s insistence on total relief from Donald Trump’s levies was a miscalculation, analysts say
As the president launches a trade war, follow the latest on tariffs and executive orders
White House extends deadline for ‘reciprocal’ levies from July 9 to August 1
And that might become a problem
The country’s latest sanctions are proving far more effective than prior efforts
Complaints made against Swiss bank over losses on foreign exchange derivatives in wake of US tariff announcements
Deadline for countries to sign deals with Trump expires on Wednesday
