News Summary – 28/06/2025
📍INTERNATIONAL NEWS
1. PRESIDENT TRUMP ENDS NEGOTIATIONS WITH CANADA, TEASES AGREEMENT WITH 4-5 COUNTRIES
On June 27, U.S. President Donald Trump announced that the country would immediately terminate trade negotiations with Canada in response to Ottawa imposing a digital services tax on tech companies. He also stated that the U.S. has reached a trade agreement with several countries and will soon send out notification letters.
2. CHINA CONFIRMS FRAMEWORK TRADE AGREEMENT WITH THE U.S.
The U.S. and China have confirmed details about the trade framework aimed at allowing the export of rare earths and easing technology restrictions, according to China’s Ministry of Commerce.
3. U.S. LEAVES OPEN POSSIBILITY OF DELAYING IMPORT TARIFF DEADLINE
The White House announced that President Trump’s administration may postpone the implementation of higher import tariffs on goods from dozens of countries, which is expected to take effect in July.
4. GOLD PRICES RECORD SECOND CONSECUTIVE WEEK OF DECLINE
Global gold prices are heading towards a second consecutive week of decline, having dropped more than 1%, pushing prices down below the $3,300 per ounce mark.
5. EU RACES TO NEGOTIATE TRADE DEAL WITH THE U.S. BEFORE DEADLINE
At a summit in Brussels on June 26, European Union (EU) leaders discussed new trade proposals from the U.S., as time is running out for the bloc to seek a common stance before the tariff exemption deadline expires on July 9.