June 26, 2025
United States:
US Merchandise-Trade Deficit Unexpectedly Widens on Exports Drop
The US merchandise-trade deficit unexpectedly widened in May on the biggest drop in exports since the onset of the pandemic, while imports were little changed.
The shortfall in goods trade grew 11.1% to $96.6 billion, Commerce Department data showed Thursday.
Europe:
German Lawmakers Back Merz’s €46 Billion Tax-Breaks Package
Chancellor Friedrich Merz’s €46 billion ($53 billion) package of tax breaks was approved by Germany’s lower house of parliament, paving the way for the measures to get final ratification in the upper house on July 11.
Conservative leader Merz and his Social Democrat partners, who took power last month, are hoping the package will inject some life into Germany’s sclerotic economy, which has shrunk the past two years and is expected to stagnate again this year.
Asia:
Tokyo’s Rising Rents Show Inflation Cycle Deepening for BOJ
Apartment rents in Tokyo are rising at the fastest pace in 30 years in the latest sign for the Bank of Japan that the nation’s inflation trend is spreading deeper through the economy.
Rents in the capital climbed 1.3% from a year earlier in April and May for the largest gains since 1994, according to the Ministry of Internal Affairs.
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