In a surprise move, US President Donald Trump has announced that he will be placing tariffs on imports “very shortly,” with the amount to be determined. This comes as a shock to many, as Apple and other companies were given a pass during his dinner with tech CEOs at the White House on Thursday, according to CNBC. Meanwhile, Federal Reserve Bank of New York President John Williams has reiterated that he expects gradual interest rate cuts over time, but declined to comment on the market’s September rate cut view.

In other economic news, Trump has stated his intention to settle the war in Ukraine, while the US Defense Department reported that two Venezuelan military aircraft flew near a US Navy vessel in international waters. In Asia-Pacific markets, stocks largely followed the gains on Wall Street, with European equity futures indicating a positive cash market open.

Looking ahead, investors will be eyeing key economic data releases such as German Industrial Orders for July, French Trade Balance, EZ Employment (Final), GDP Revised (Q2), UK Retail Sales (August), EZ GDP Revised (Q2), US Jobs Report (August), and Canadian Jobs Report (August). These reports will provide valuable insights into the health of the global economy and may impact financial markets.

The latest economic developments have left investors with a mix of emotions, ranging from uncertainty to optimism. While Trump’s tariff threats could potentially disrupt trade flows, Williams’ rate cut expectations offer some hope for economic growth. The upcoming data releases will be crucial in shaping investor sentiment and guiding market movements in the days ahead.