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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The United States and Venezuela have been jamming GPS signals in parts of the Caribbean, raising safety concerns for civilian air and maritime traffic, as tensions between the two countries escalate, according to The New York Times.
Senior representatives from the U.S., Egypt, Qatar and Türkiye have held talks in Miami to assess progress on the Gaza ceasefire and lay the groundwork for its next phase, according to a statement issued by U.S. envoy Steve Witkoff.
The death toll from Hong Kong’s deadliest fire in decades has risen to 161, after forensic analysis confirmed one more victim among the charred remains at Wang Fuk Court in Tai Po, more than three weeks after the blaze began, authorities said on Saturday.
The United States has seized an oil tanker last docked in Venezuela, Homeland Security Secretary Kristi Noem confirmed on Saturday.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
Thousands of Bulgarians took to the streets on Thursday evening to protest against the outgoing government, demanding fair elections and judicial reforms to address what they describe as widespread corruption.
Ukrainian President Volodymyr Zelenskyy arrived in Poland on Thursday following a summit of the European Council in Brussels.
The United States has suspended the Diversity Visa Lottery programme, commonly known as the Green Card lottery, after a deadly shooting at Brown University.
US intelligence assessments indicate that Russian President Vladimir Putin continues to seek full control of Ukraine and to expand Russia’s influence in parts of Europe formerly under Soviet rule, contradicting repeated claims that Moscow poses no threat to the continent.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
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