Politics

Japan LDP, opposition CDP, agree to hold vote to decide next prime minister on Oct 21

• That date was already scheduled as far as I know.

S&P: Trump’s tariffs to cost $1.2 trillion, consumers bear most of burden

• S&P Global estimates Trump’s tariffs will cost global firms $1.2 trillion in 2025, with about two-thirds of the burden falling on consumers. The report warns tariffs act as taxes on supply chains and may pressure growth and margins.

Reports that the US military have struck another drug boat in the Caribbean

ICYMI: China accuses US of fuelling global panic over rare earth export curbs

• China accused the U.S. of exaggerating its rare earth export controls to stir panic, rejecting calls to roll them back.

White House: Trump feels there was progress in call with Putin

• Comments from the White House

USTR Greer: China is taking actions as if it wants to decouple

• Comments from the US Trade Representative to Fox

French government also survives second no-confidence motion today

• That's two for two as Lecornu gets to lead his new government in trying to find a way through on the budget

French government survives first no-confidence motion

• Still one more to come

China's Commerce Ministry says rare earth export controls are different to an export ban

• The Chinese have been saying this since Trump threatened 100% tariffs on Friday

Japan's Nippon Ishin party co-leader says found a lot of common ground with LDP today

• Japan's weakened LDP party seeks coalition talks with right-leaning party, Nippon Ishin

US officially confirms that Trump will visit South Korea on 29-30 October

• As confirmed by the US presidential advisor

ICYMI: US to expand stakes in key firms to counter China’s industrial policy, Bessent says

• Treasury Secretary Scott Bessent said the Trump administration will take more equity stakes in strategic U.S. firms to counter China’s industrial policy and export curbs. Sectors targeted include semiconductors, rare earths, and pharmaceuticals.

Japanese politics - LDP head Takaichi will hold a meeting with a minor party today

• Takaichi will meet with the head of the Ishin party

Trump admin eyes over 10,000 federal job cuts amid shutdown, CNBC reports

• Trump’s Vought plans sweeping federal job cuts and CFPB closure

Can Trump tolerate a trade war that would roil the stock market?

• WSJ reports that China doesn't believe he can