{
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[Bloomberg]
US President Donald Trump described negotiations with Chinese President Xi Jinping as “extremely hard,” reflecting ongoing trade tensions that have stalled discussions. Despite a recent agreement to suspend most tariffs for 90 days, fundamental issues remain unresolved, with both nations leveraging technology and critical resources in their trade strategies. The economic interdependence complicates aggressive tactics, as tariffs have not significantly reduced the trade deficit and have increased costs for consumers.
A former official from the Trump administration reportedly holds up to $5 million in shares of Coinbase. This significant investment highlights the ongoing interest in cryptocurrency markets among influential figures. The financial implications of such holdings continue to attract attention in the evolving landscape of digital assets.
[Bloomberg]
Japanese stocks rebounded on Wednesday, with the Nikkei 225 Index rising 0.8% amid hopes for a trade deal with China that could benefit the tech sector. The yen's decline supported exporters, while semiconductor stocks surged, driven by expectations of strong AI-related demand. However, Toyota Industries fell 12% after Toyota Motor announced plans to take it private for $33 billion, significantly less than earlier estimates.
Vietnam's exports surged by 14% in May, driven by firms rushing shipments ahead of anticipated U.S. tariff increases, resulting in a trade surplus of $4.67 billion. In the first five months of 2025, foreign investment pledges soared by 51.1% to $18.4 billion, reflecting the country's strategic positioning in high-value sectors amid global capital flow trends.
The OECD has downgraded its economic growth forecasts, projecting a 1.6% growth for the US in 2025, down from 2.2%, primarily due to the impact of tariffs and trade policies. Global growth is expected to slow to 2.9%, with significant repercussions for the US, Canada, Mexico, and China. The uncertainty surrounding tariffs is anticipated to reduce business investment and consumer purchasing power, disproportionately affecting lower-income households.
Japan is not currently planning to issue a central bank digital currency (CBDC), but must innovate its payment and settlement systems as society shifts towards cash-less transactions, according to Bank of Japan Executive Director Kazushige Kamiyama. He emphasized the need for a retail settlement system that is convenient, efficient, universally accessible, and secure, while noting ongoing experiments with private firms on a digital yen in preparation for a potential future decision on a CBDC.
Trump's associates claim he is set to unveil a crypto wallet, while his sons deny the assertion. The conflicting statements raise questions about the potential launch and its implications in the cryptocurrency space.
Trumps have publicly denied any involvement with a wallet associated with a Trump-branded memecoin. This statement comes amid growing scrutiny and speculation surrounding the cryptocurrency's ties to the former president's brand.
Donald Trump
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