Europe has warned that trade deals struck with the U.S. could now be at risk after President Donald Trump unveiled a new global 15% tariff on all imports at the weekend.

Trump’s move came after the U.S. Supreme Court on Friday struck down his global tariffs policy, implemented last spring, that had upset the long-standing global trading order.

The president reacted to the Supreme Court’s judgment by initially announcing a new universal 10% levy, using a different legal framework for the latest tariffs, but then increased the global tariff rate to 15% — the legal maximum which can be in place for 150 days before congressional approval is required.

The new import duties are “effective immediately,” Trump said in a Truth Social post on Saturday. (CNBC – Continue Reading)

Domestic financial imbalances in the Chinese economy have risen to historic highs, due to continued high household savings, weak consumption and the recent contraction in capital spending, Fitch Ratings says in a new report. Our forecasts for the economy, public and external finances suggest that the imbalance between private – or non-government – saving and public borrowing will persist. This leaves economic growth increasingly reliant on external demand and support from fiscal policy through sustained high public deficits.

We estimate that private-sector net lending increased from 7.8% of GDP in 2023 (the Chinese authorities publish flow-of-funds financial balances data to 2023) to 8.6% in 2024, and 12.1% in 2025. This reflects our estimates of a widening in the general government deficit to around 8.0% of GDP and an expansion in the current account surplus to 3.7% last year. Our fiscal and external forecasts imply that private-sector net lending will ease but remain at an elevated 11.2% of GDP in 2026. (Fitch – Continue Reading)

The US is going to see an AI revolution very soon, with a top Anthropic engineer predicting that a new generation of artificial intelligence agents will take over nearly every internet-based job in the country.

Boris Cherny — the creator of Claude Code at Anthropic, said in a recent podcast that the new age AI chatbots will be able to operate computers, and it will change the job landscape in the US.

Cherny was talking on "Lenny's Podcast," hosted by Lenny Rachitsky, when he made the recent comments.

The top Anthropic engineer noted that AI systems like the ones sold by Anthropic and can can take action across workplace computer tools. They could soon take over multiple roles, altering responsibilities for software engineers, product managers, designers, and other knowledge workers. (Mint – Continue Reading)