{
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[Source]
China's services sector activity accelerated in May, with the Caixin/S&P Global services PMI rising to 51.1, despite ongoing export demand challenges linked to US tariffs. While the official PMI also showed slight growth, sluggish new export orders highlight persistent external pressures and cautious business sentiment amid trade uncertainties.
The Congressional Budget Office projects that President Trump's tariff plan could reduce the federal deficit by $2.8 trillion over the next decade, but it may also lead to increased inflation and decreased household purchasing power. While tariffs could generate significant revenue, they disproportionately impact lower-income households and may hinder long-term economic growth by distorting resource allocation and triggering inflationary pressures throughout supply chains.
[Source]
Power costs in China's industrial regions have significantly decreased, driven by a 30% drop in coal prices and increased reliance on renewable energy. In Jiangsu, electricity prices fell 24% year-on-year to 313 yuan per megawatt-hour, while Guangdong saw an 8.3% decline to 373 yuan. This shift towards market-based pricing and renewable energy is enhancing China's competitive edge in global manufacturing, particularly in energy-intensive sectors. China's strategy of combining abundant coal resources with aggressive renewable energy development positions it as a leader in both energy security and clean technology, reshaping global industrial competitiveness and energy geopolitics.
South Korea's economy contracted by 0.2% in Q1 2025, marking its first negative growth in nine months, driven by domestic political unrest and uncertainties from US tariff policies. Exports fell by 0.6%, and private spending decreased by 0.1%, reflecting weakened consumer confidence amid the turmoil following the declaration of martial law.
Brazil has officially removed the UAE from its list of jurisdictions with preferential tax regimes, enhancing bilateral cooperation and tax transparency. This decision, following consultations between the two nations, aims to boost trade and investment, with bilateral trade exceeding US$4.3 billion in 2024. The move is expected to foster collaboration in sectors like infrastructure, agribusiness, and logistics, aligning with sustainable growth priorities.
[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.
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.
Global Trade Developments
SubCategory
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Japan urges US to reconsider tariffs ahead of G7 leaders summit
09:30 05.06.2025
China's services sector shows growth amid ongoing tariff uncertainties
09:00 05.06.2025
trump tariffs projected to reduce deficit but risk economic growth and inflation
07:30 05.06.2025
us maintains tariffs on vietnam amid concerns over chinese imports
06:10 05.06.2025
China's Power Costs Decline Boosts Industrial Competitiveness Amid Global Energy Shifts
05:50 05.06.2025
south korea's economy contracts amid political unrest and trade uncertainties
05:20 05.06.2025
brazil and uae enhance trade ties with removal from tax regime list
17:39 04.06.2025
UK faces urgent deadline to secure US steel and aluminum tariff deal
10:50 04.06.2025
trump describes xi as difficult negotiator amid stalled us china trade talks
10:40 04.06.2025
Vietnam's exports rise 14 percent as trade surplus reaches 4.7 billion dollars
07:40 04.06.2025
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