Looking for clues on US consumer sentiment during Amazon 'Prime Week'
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US e-commerce giant Amazon has expanded its "Prime Day" promotional event this year to four days, in a bid to give shoppers "more time to shop and save". US President Donald Trump's global trade war has increased the threat of higher prices for US shoppers. While forecasts show another record year for sales, other indicators are highlighting cautious consumer sentiment. Also in this edition: Trump's 50 percent tariff threat on all copper imports could hurt global producers like Zambia.
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France 24
an hour ago
- France 24
US consumer inflation accelerates as tariff scrutiny grows
Observers are expecting to learn more about the effects of Trump's duties over the summer months, meaning June's data marks the start in a series of closely-watched figures -- particularly as officials mull changes to interest rates as well. The consumer price index (CPI) was up 2.7 percent from a year ago in June, rising from the 2.4 percent figure in May as energy costs rose, said the Department of Labor. Other areas that saw cost increases included household furnishings and apparel, both segments that experts are eyeing for signs of cost hikes after Trump's sweeping tariffs this year. While Trump imposed a 10 percent tariff on almost all trading partners in April and separately slapped steeper duties on imports of steel, aluminum and autos, US officials have pushed back against warnings that these could spark price increases. Economists caution that tariff hikes could fuel inflation and weigh on economic growth, but US Treasury Secretary Scott Bessent has labeled such expectations "tariff derangement syndrome." CPI rose 0.3 percent in June from the previous month, an uptick from the 0.1 percent increase in May as well. Excluding the volatile food and energy segments, CPI climbed 0.2 percent on-month, picking up from May too. Compared with a year ago, "core" CPI was up 2.9 percent in June. Even if headline inflation figures show no "meaningful" surge because of tariffs alone, Nationwide economist Oren Klachkin warned it may be too soon to see their full impact just yet. Businesses have been trying to hold off consumer price hikes through a range of actions, from eating into their own margins to trying to share costs with their suppliers, he said. But it remains to be seen how long they can do this. There could be a bigger impact over the summer, Klachkin added. For now, he is looking "under the surface" at components most exposed to Trump's tariffs, such as furnishings, recreational goods and cellphones, to discern their effects. Besides steep tariffs that have already taken effect, Trump has also threatened even higher levels on dozens of key trading partners including the European Union, India, Japan and South Korea if they do not strike deals to avert these elevated levels. He has also opened doors to further levies on sector-specific imports ranging from semiconductors to pharmaceuticals, injecting more uncertainty in the global economy and worries of supply chain snags.
Euronews
3 hours ago
- Euronews
New US weapons deal: What will Ukraine receive and who will pay for it
US President Donald Trump has endorsed a plan on Monday to have European allies buy billions of euros worth of US military equipment that can be transferred to Ukraine, as Kyiv looks for a way to improve its air defence against intensified Russian attacks. Under a new deal, the US will sell weapons to NATO members who will then supply them to Ukraine. Trump didn't provide all the details, just saying the weapons in question are worth "billions". But when asked if the deal included Patriot air defence batteries and interceptor missiles, he replied, "It's everything". Ukraine has repeatedly requested that the US provide more Patriot batteries and missiles — one of the few air-defence systems in the world that can reliably shoot down incoming ballistic missiles. Patriot batteries for Ukraine The US plans to sell Patriot batteries and other weapons to European allies that would be transferred to Kyiv. 'We're going to supply weapons to NATO at a large amount,' Trump said. NATO Secretary General Mark Rutte, who has been working with European countries to coordinate the purchase of US weapons, said Germany, Finland, Canada, Norway, Sweden, the United Kingdom and Denmark would be among the buyers to supply Ukraine, and noted that 'speed is of the essence here'. German Defence Minister Boris Pistorius met with his US counterpart, Pete Hegseth, at the Pentagon to discuss details — particularly related to the Patriot batteries — and noted increased defence spending. 'We are determined to assume greater responsibility for Europe's deterrence and defence,' he said. The German government offered to finance two additional Patriot systems. In addition to Germany, Greece and Spain are among the NATO members believed to have spare Patriots to send to Ukraine, as long as they are eventually replaced. How many Patriots did Ukraine request? Ukraine operates at least six Patriot systems, provided by the US, Germany, the Netherlands and Romania. At the fourth annual Ukraine Recovery Conference last week in Rome, Ukrainian President Volodymyr Zelenskyy said Kyiv requested a total of 10 Patriot systems from Washington. 'With President Trump, we have a positive dialogue about Patriot systems. My request for 10 Patriot systems and the corresponding number of relevant missiles for these systems,' Zelenskyy said. He added that Germany was indeed ready to pay for two systems, Norway would pay for one system, and there is 'a clear response from the manufacturer and from different capabilities of the US (that) other European partners will join the scheme of the financing of American Patriot systems'. On Monday, Trump revealed Ukraine would be receiving a total of 17 systems. 'It's everything. It's Patriots. It's all of them. It's a full complement with the batteries,' Trump said. An unnamed Western nation had '17 Patriots ready to be shipped,' he stated. Not only Patriots US media outlets reported that Trump might provide Ukraine not only with the air defence Patriot systems, but also with Tomahawk missiles. The most significant advantage of Tomahawks over all the weaponry currently available to the Ukrainian Armed Forces is their long range. Depending on the modification, Tomahawk missiles can reach distances of 1,600 to 2,500 kilometres. Currently, no other missile in Kyiv's arsenal can get that far, apart from Kyiv's new long-range striking drones. In addition to its range, the Tomahawk was designed to fly at subsonic speed while maintaining a low altitude, making it difficult to detect on radar. They also have a larger warhead and can carry either a conventional or a nuclear payload. Tomahawk missiles were used against targets in Iran last month, and if provided to Ukraine, they could reach deep into Russia's territory. Meanwhile, further reports from US outlets have claimed that Trump asked Zelenskyy whether Ukraine could strike Moscow if provided with long-range US weapons and why Kyiv had not hit the Russian capital. Zelenskyy allegedly replied that such an attack would be possible if the US supplied the necessary weapons. If launched from Ukraine, Tomahawk missiles could reach Moscow and St Petersburg.
France 24
5 hours ago
- France 24
Will Trump's trade war finally start affecting US inflation?
The US Bureau of Labor of Statistics will be releasing its June inflation data this Tuesday, with economists forecasting a slight uptick in consumer prices because of the impact of tariffs. FRANCE 24 spoke to Nela Richardson, Chief Economist at ADP, about the impact of import duties on US inflation. Also in this edition: the French government considers a spending freeze in a bid to find €40 billion in savings and cut the deficit.
