US Treasury Secretary Scott Bessent said Sunday that President Donald Trump could speak with China's Xi Jinping "very soon," and that such a call could help break the logjam in the trade talks between the world's two biggest economies. On when a Trump-Xi call could take place, Bessent said: "I believe we will see something very soon."
The US Federal Reserve's preferred inflation measure was largely unchanged last month, according to government data published Friday, but a widely scrutinized gauge of underlying price pressures rose. Personal income increased by 0.8 percent last month, according to the Commerce Department data published Friday.
Germany said Friday it hopes the EU and United States can negotiate an agreement on US auto tariffs but the bloc was ready to retaliate, warning: "Nothing is off the table." "At the moment (the EU) still hopes and aims to reach an agreement in talks with the United States that can possibly avert a trade war," he said in Berlin.
Germany's unemployment rate unexpectedly rose in March after holding steady for two months, data showed Friday, with economists lamenting no "spring revival" was in sight for Europe's ailing top economy. The latest weak data highlights the huge challenge for Germany's next government, which is expected to be led by conservative election winner Friedrich Merz, when it comes to reviving the economy.
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