The most important events and reports on the economy, central banks, politics from the program of Dow Jones Newswires
Trump threatens the EU with 50 percent inch
US President Donald Trump threatened to raise a custom of 50 percent imported goods from the European Union from June 1st, since the trade negotiations are not making any progress. “Our conversations with them do nothing,” Trump wrote about Truth Social. “Therefore, I recommend a direct customs set of 50 percent to the European Union, starting on June 1, 2025. There is no tariffs if the product is built or manufactured in the United States.”
Trump threatens Apple with 25% inches on iPhones built abroad
Apple’s iPhones made outside of the United States could in future be occupied with import taxes when imported to the United States. US President Donald Trump now threatened the devices with tariffs of 25 percent. “I informed Tim Cook from Apple a long time ago that I expect your iPhones, which are sold in the United States of America, be manufactured and built in the United States, not in India or anywhere else,” said Trump in a contribution in his social network Truth Social. “If this is not the case, Apple has to pay a custom of at least 25 percent to the USA. Thanks for your attention in this matter!”
EU shifts stricter trade rules for banks again
The European Union will move the implementation of stricter global rules for the banks’ trading business. In view of the deregulation promoted by US President Donald Trump, European institutes should receive equal competitive conditions. The EU Commission said it would postpone the application of the so-called basic review of the commercial book for banks by one year by January 2027. It is the second time that the rules – which limit the capital and reporting requirements of the banks and regulate the management of trade risks – are postponed.
Boj could wait until January with a guiding interest rate increase
Barclays analysts assume that the Bank of Japan (Boj) will wait until January 2025. “The Boj wants to make sure that the economy is back on a recreational course after a customary slump before it is considering further interest rate increases,” they write in an analysis. According to her assessment, a focus of the Boj will be on the effects of tariffs on the corporate profits and wage negotiations in spring 2026 (“Shunto”).
+++ Economic data +++
*US/new sales APR +10.9% to 743,000 (Prog: 695,000))
*Us/new sales in March revises to 670,000 (VICHT: 724,000)
*Canada March Retail turnover +0.8% GG FEB
*Canada March Retail turnover ex vehicle -0.7% GG FEB
*Canada March Retail turnover +0.8% GG FEB
*Canada March Retail turnover ex vehicle -0.7% GG FEB
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(End) Dow Jones Newswires
May 23, 2025 13:00 ET (17:00 GMT)