The Free Trade Commission convened on 1 July 2026 to begin the USMCA’s six-year review, with Mexico facing a 9.8% average tariff rate and the three nations deciding whether to extend or let the pact expire in 2036.
Category: Economy
Posted inEconomy
China’s June manufacturing PMI beats forecasts at 50.3 on AI export demand
China’s NBS reported a manufacturing PMI of 50.3 in June 2026, beating the 50.1 consensus forecast, driven by surging demand for AI-related exports amid the global infrastructure build-out.
Posted inEconomy
Japan retail sales surge 5.3% in May, giving BOJ room to keep hiking
Japan’s retail sales rose 5.3% year-on-year in May 2026, the fastest pace since November 2023, as wage growth and government subsidies powered a broad spending rebound.
Posted inEconomy
BOJ board members back further rate hikes toward a neutral rate of 2%
Bank of Japan board members backed continued rate rises and estimated a neutral rate near 2%, in the June 24 summary of opinions released after the bank’s historic 1% decision.
Posted inEconomy
US economy expanded 2.1% in Q1 2026 but corporate confidence warns of a rougher second half
The Bureau of Economic Analysis confirmed 2.1% annualised GDP growth in the first quarter of 2026 on June 25, a rebound from Q4’s 0.5%, even as CEO surveys signal gathering headwinds ahead.
Posted inEconomy
US May PCE hits 4.1%, highest since April 2023, as core inflation accelerates
The Fed’s preferred inflation gauge rose 4.1% year-on-year in May 2026, the fastest pace in over three years, while core PCE climbed to 3.4% — its highest since late 2023.
Posted inEconomy
US and India near a trade deal with a July 24 tariff deadline forcing pace
USTR Jamieson Greer completed a June 22-24 New Delhi visit with both sides saying a trade deal is imminent before the July 24 tariff deadline on Indian goods.
Posted inEconomy
Fed holds rates and removes forward guidance in Warsh’s hawkish debut
At his first FOMC meeting on June 17, Kevin Warsh held rates at 3.5–3.75% and stripped forward guidance, with nine of 18 officials now projecting at least one rate hike in 2026.
Posted inEconomy
US Treasury issues 60-day Iran oil licence as Brent falls 3.5% and Hormuz traffic recovers
Washington granted Iran a 60-day oil export waiver on June 22, pushing Brent crude below $78 as Strait of Hormuz traffic climbed back toward pre-war levels.
Posted inEconomy
Euro bond issuance hits record $1.1 trillion as dollar’s global role ebbs
Euro-denominated bond issuance hit a record $1.1 trillion in 2025, up 30%, and the euro now leads the dollar in green bonds, the ECB’s June 2026 report shows.