#Top_Overnight_News

Following Trump announcing 25% tariffs on good from Japan starting Aug 1, Japan and the US are “actively” continuing negotiations. A Top trade negotiator from Japan said Japan's trade deal with the U.S. must include tariff concessions for its vital automobile industry.

Trump said Monday the U.S. would resume providing Ukraine with arms to help it withstand Russian attacks after months of trying without success to draw Moscow into negotiations on ending the war. WSJ

President Trump on Monday indicated there may be some wiggle room for nations to negotiate on trade despite his fresh threat of additional tariffs going into effect on Aug. 1. When asked, he said “No, I would say firm, but not 100 percent firm. If they call up and they say ‘we’d like to do something a different way,’ we’re going to be open to that. But essentially that’s the way it is right now.” The Hill

Apple’s top AI models executive Ruoming Pang is leaving for Meta’s new superintelligence group, people familiar said, marking another setback in the iPhone maker’s struggling AI efforts. BBG

Kevin Warsh, one of the lead candidates to replace Powell as Fed chief, said rates should be lower and doesn’t think tariffs will fuel inflation. BBG

China has strongly criticized companies and local governments for fuelling overproduction that it blames for driving down prices, as inflation figures this week are expected to show that one of the country’s longest bouts of factory price deflation is running unchecked. FT

China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains. RTRS

Europe’s largest port is gearing up for a potential conflict with Russia by reserving space for ships carrying military supplies and planning where to divert cargo if war breaks out. FT

Samsung’s profit more than halved on inventory writedowns following US curbs on Chinese-bound AI chip