China’s Premier Li Qiang said on Tuesday the "mutually destructive consequences of tariffs have become increasingly evident" over 2025, in remarks at a "1+10 Dialogue" including the heads of the IMF, World Trade Organization and World Bank.
Oil prices were steady in Asian trade on Tuesday after a sharp drop in the previous session, as traders weighed renewed supply from Iraq, developments in Ukraine peace efforts, and expectations ahead of the Federal Reserve meeting.
Most Asian stocks moved in a flat-to-low range on Tuesday amid growing caution before a Federal Reserve meeting this week, while Australian stocks retreated before a Reserve Bank rate decision.
The U.S. Commerce Department said on Friday that its delayed Personal Consumption Expenditures price index accelerated slightly to 2.8% in the twelve months to September, up from 2.7% in August and meeting economists’ projections.
The European Commission could announce a package to support the local automotive sector, including a possible watered down version of its 2035 combustion engine phase-out, on December 16, an industry source briefed on the matter said.
Japan’s economy shrank more sharply in the third quarter than previously estimated, according to a revised release from the Cabinet Office of Japan on Monday.