Donald Trump threatens 30% tariffs on the EU and Mexico, which may slow US growth and push up inflation. China is due to report data suggesting 5% growth in 2025 is still possible, and India is expected to report benign inflation figures.
In our deep dive interview, ANZ Economist Sophia Angala analyses how Australia’s states performed in Q1.
5 things to know in 5 minutes:
Donald Trump threatened tariffs of 30% on the European Union and Mexico on Saturday after US markets closed. He has also threatened 35% tariffs on Canada. ANZ Economist in London Bansi Madhavani explains what that means.
Bansi says markets will need more information out of Trump.
China is scheduled to release key economic data for the second quarter today and tomorrow, which is expected to show it can remain on track for its 5% GDP growth target for 2025, says ANZ’s Senior China Strategist Zhaopeng Xing.
India is expected to report lower annual inflation later today, which gives the Reserve Bank of India space to cut rates again, says ANZ Economist in India Dhiraj Nim.
New Zealand’s manufacturing sector contracted in June for a second month running, the BusinessNZ-BNZ survey reported on Friday. ANZ Economist Matt Galt says it shows momentum in the recovery from earlier in the year is fading.
Cheers,
Bernard.
PS: Catch you tomorrow with more reaction to and analysis of Trump’s latest tariff moves.
