Ukrainian President Volodymyr Zelenskyy has announced a minerals deal with the US, dubbed the United States-Ukraine Reconstruction Investment Fund, marking an "equal partnership" between the two countries. The agreement aims to generate revenue and incentivize peace in war-torn Ukraine, with the US taking an economic stake in securing a free and sovereign future for the country. Under the deal, 50% of royalties and license fees from natural resource projects in Ukraine will be allocated to the fund, while Ukraine's state-owned companies will remain national property.
https://krcgtv.com/news/nation-world/zelenskyy-says-minerals-deal-with-us-represents-equal-partnership-rare-earth-trump-russia-war-peace-white-houseThe Bank of Japan has expressed uncertainty over future interest rate hikes due to growing concerns about trade tensions and inflation, following US President Donald Trump's imposition of tariffs on Japanese goods. This shift in stance marks a significant departure from the central bank's earlier optimism, which had been driven by its expectations of a strong economy.
https://www.japantimes.co.jp/commentary/2025/05/02/japan/bank-of-japan-will-struggle-to-justify-hikes/BASF, a German chemicals giant, has stuck to its 2025 earnings outlook despite US trade policies causing uncertainty. The company, which generates over 80% of its sales in the US, attributes its resilience to local production. However, CFO Dirk Elvermann warned that the volatility of tariff announcements and potential countermeasures by trading partners are creating high levels of uncertainty. BASF reported a 40% fall in first quarter net profit to €808 million, blaming rising competition. CEO Markus Kamieth emphasized the importance of growing in Asia, particularly China, where a new site is under construction in Zhanjiang.
https://www.victoriaadvocate.com/news/nation/german-chemical-giant-basf-keeps-outlook-warns-on-tariffs/article_771bc310-9da9-5250-93fb-76b43963b6f3.htmlBilawal Bhutto Zardari, Chairman of the Pakistan People's Party (PPP), has challenged Indian Prime Minister Narendra Modi to provide evidence for his country's allegations against Pakistan, warning that any unilateral moves by India regarding river water would not be tolerated. The PPP chairman stated that Pakistan will defend its water rights under the Indus Waters Treaty and will apprehend and publicly punish those responsible if they are found guilty. He also warned of a potential nuclear catastrophe in case of a conflict over water between the two countries, which have a deeply intertwined history with the Indus River.
https://www.brecorder.com/news/40360528/bilawal-dares-modi-government-to-prove-accusations-against-pakistanThe US Secretary of State Antony Blinken has stated that the US will not intervene in conflicts between countries unless there is a clear threat to global security, emphasizing that negotiations are now underway between North Korea and South Korea to resolve their differences.
https://www.ukrinform.net/rubric-polytics/3988479-state-department-us-will-not-mediate-ukrainerussia-peace-talks.htmlJapan's trading houses, backed by Warren Buffett, are bracing for the impact of tariffs on their business. The companies, which include Mitsui & Co and Sumitomo Corporation, have significant investments in the US market. They are concerned about the potential disruption to their operations and supply chains due to increased tariffs imposed by the US government.
https://www.livemint.com/companies/news/japans-buffett-backed-trading-houses-brace-for-tariff-impact-11746186744086.htmlChina's Commerce Ministry is evaluating a US proposal to discuss tariffs with President Donald Trump, signaling a potential easing of trade tensions between the two countries. However, optimism about improved relations is tempered by concerns over the impact on global markets and oil prices. The threat of secondary sanctions on Iranian oil buyers, which would disproportionately affect China as the world's largest importer, complicates talks. Oil prices rose 2% after Trump's comments, but analysts warn that OPEC+ output hikes may lead to price pain despite efforts to stabilize the market.
https://www.brecorder.com/news/40360620/oil-falls-as-traders-weigh-potential-us-china-trade-talksThe C. Peter McColough Series on International Economics brings together prominent economic policymakers and scholars to discuss current topics in international economics at the Maurice R. Greenberg Center for Geoeconomic Studies, a part of RealEcon: Reimagining American Economic Leadership, a CFR initiative. Attendees can participate virtually through provided login information, with audio, video, and transcripts available on the CFR website afterwards.
https://cfr.org/article/world-press-freedom-continues-decline-time-upheavalIndia and the European Union are pushing for a trade agreement by 2025, focusing on market access and innovation. The EU has expressed interest in increasing its trade with India, which is expected to boost economic ties between the two regions. Indian companies such as Tata Motors and Infosys may benefit from this agreement, while Apple CEO Tim Cook has confirmed that a majority of US iPhones will be made in India by the June quarter.
https://www.livemint.com/news/india/india-eu-pledge-to-seal-trade-pact-by-2025-push-for-broader-strategic-alignment-11746172849700.html