June 2, 2026
United States:
US Targets Brazil With New 25% Tariff Over Trade Practices
The US is proposing a new 25% tariff on Brazilian goods after a fresh investigation found the South American country engages in unfair trade practices.
The announcement, published late Monday by the Office of the US Trade Representative, exempts a vast list of products including coffee, beef, some fruits and aircraft parts.
Europe:
Euro-Zone Inflation Surpasses 3% for First Time Since 2023
Euro-area inflation topped 3% for the first time in more than 2 1/2 years, cementing expectations for an interest-rate hike when the European Central Bank meets next week.
Consumer prices rose 3.2% from a year ago in May, up from 3% the previous month, Eurostat said Tuesday. That’s in line with the median estimate in a Bloomberg survey.
Asia:
PBOC Cuts Cash Operation to Record Low as Bond Rally Deepens
China’s central bank reduced the size of its daily open-market operation to a record low, extending efforts to absorb excess cash as a rally in bonds drove benchmark yields to their lowest since August.
The People’s Bank of China lent banks 200 million yuan ($29.6 million) via seven-day reverse repurchase agreements on Tuesday, the lowest-ever amount in a daily open market operation, according to data compiled by Bloomberg.
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