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WTO Ministerial Collapse Leaves Global Digital Trade Rules in Limbo 
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Australia Bans Card Payment Surcharges Starting October 2025 
Bessent: Global Oil Market Well Supplied as U.S. Eyes Hormuz Navigation Control 
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South Korea's $17.3 Billion Emergency Budget Targets Oil Price Surge 
China Manufacturing PMI Hits 12-Month High Amid Energy Price Concerns 
Japan's Business Confidence Rises Despite Iran War Uncertainty, BOJ Rate Hike Expected 
U.S. Stocks Surge on Iran War De-escalation Hopes 
U.S. Trade Rep Dismisses WTO's Future Role After Failed Cameroon Summit 
Japan Business Sentiment Rises as Iran War Fuels Inflation Fears, BOJ Rate Hike Looms 
Bank of Korea Nominee Shin Hyun-song Calls for Flexible Monetary Policy Amid Iran War Risks 
Asian Stocks Surge on Trump's Iran War Comments and Dip-Buying 
Xi Jinping Congratulates Trump on 2024 Election Win
Chinese President Xi Jinping extended congratulations to Donald Trump following his victory in the 2024 U.S. presidential election, according to a report from Chinese state media Xinhua.
Diplomatic Communication Between Xi and Trump
A Chinese foreign ministry spokesperson had offered similar congratulations on Wednesday. Reports from CNN also indicated that Xi and Trump held a phone conversation, where the Chinese leader emphasized the importance of strengthening communication between the two nations.
Calls for US-China Cooperation Amid Tensions
In his statement, Xi highlighted the need for a new era of cooperation between China and the United States. He stressed the importance of managing differences appropriately while fostering mutual collaboration on various global issues.
Potential Trade War Concerns
Despite Xi’s conciliatory message, Trump’s campaign rhetoric raised concerns about future trade relations. Trump had threatened to impose tariffs of up to 60% on Chinese imports, a move that could reignite a trade war between the world’s largest economies.
