Trade Wars 2.0 - news and analysis

The second presidency of Donald Trump initiated escalation of tariffs that triggered significant financial movements. These actions may to increased costs for businesses and consumers, disrupted supply chains, and created market uncertainty. Retaliatory tariffs from affected nations can further strain global trade, impacting economic growth and prompting concerns about long-term financial stability.

Tokyo Core CPI remains unchanged, US PCE Index ticks higher, yen stabilizes

Tokyo Core CPI remained unchanged at 2.5% y/y, lower than the market estimate. In the US, the PCE Price Index ticked higher to 2.7% from 2.6%, matching the market estimate.

26-09-2025 12:40 GMT by Kenneth Fisher

Swiss National Bank maintains interest rates, US GDP revised higher,Swiss franc slips

The SNB maintained rates at zero for a second straight meeting. The central bank said inflation was steady but was concerned about global growth and the impact of US tariffs on the Swiss economy. US third-estimate GDP climbed to 3.8%, up from 3.3% in the second estimate and higher than the consensus of 3.3%.

25-09-2025 17:50 GMT by Kenneth Fisher