The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
The U.S. budget deficit narrowed to $316 billion in May, marking a 9% drop from last year, largely due to a surge in customs revenue driven by President Trump’s new tariffs.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
U.S. President Trump has delayed a proposed 50% tariff on EU imports, giving both sides until July 9 to strike a trade deal.
China has condemned US President Donald Trump's latest tariff threat, vowing to retaliate if Washington follows through with a proposed 50% hike on Chinese imports, as tensions between the world’s two largest economies continue to escalate.
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