S&P says easing tariff tensions between the US and China has improved macroeconomic conditions by lowering uncertainty, boosting markets, and reducing risks, though global trade challenges still weigh on credit conditions.
Standard & Poor's (S&P) has stated that the recent de-escalation in US-China tariff tensions has temporarily improved the global macroeconomic outlook. The international credit rating agency noted that lower bilateral tariffs between the world’s two largest economies, reduced policy uncertainty, and a more upbeat market environment are contributing to this relief.
“The tariff climbdown improves our macroeconomic outlook,” S&P said in a statement, highlighting the positive impact on asset prices and partial reopening of markets.
Despite this temporary improvement, S&P warned that the broader global trade environment remains a source of pressure on financial conditions and credit ratings. "Tail risks have eased, but trade dynamics still affect sectors and countries unevenly,” the agency added.
The positive development followed a rare joint statement by the US and China after trade negotiations in Geneva. Both countries agreed to reduce tariffs for a 90-day period: the US cutting its rate on Chinese goods from 145% to 30%, and China reducing its rate from 125% to 10%.
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Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
The World Health Organization (WHO) says ongoing conflict, funding pressures and international travel restrictions are complicating efforts to contain a fast-growing Ebola outbreak in the Democratic Republic of Congo (DRC).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Russia and Kazakhstan signed 15 agreements during President Vladimir Putin’s state visit to Astana on Thursday (28 May), including deals on Kazakhstan’s first nuclear power plant and expanded oil cooperation with Russia.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
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