Overview

• President Trump personally joined trade negotiations with Japan, claiming 'big progress,' though no concrete agreement has been reached.
• Federal Reserve Chair Jerome Powell cautioned that tariffs could lead to higher inflation and slower economic growth, complicating monetary policy decisions.
• Major tech companies, including Nvidia and AMD, report billions in losses due to U.S. export restrictions and tariffs on sales to China.
• The World Trade Organization forecasts a 0.2% contraction in global merchandise trade for 2025 if current tariff measures persist, with potential for deeper declines.
• Stock markets saw sharp declines, with the Nasdaq falling over 3%, as market volatility and corporate earnings uncertainty intensify under ongoing trade tensions.