Global Asset Prices - Nikkei 225 index rose by 4.1% this week, leading global stock markets[3] - S&P 500, Dow Jones, and Nasdaq increased by 1.1%, 0.8%, and 1% respectively[7] - 10-year U.S. Treasury yield decreased by 4 basis points[3] U.S. Economic Dynamics - Initial jobless claims fell from 221,000 to 217,000, indicating a stable labor market[4] - Core capital goods orders in June showed a negative month-on-month growth of -0.7%[4] - U.S. manufacturing PMI dropped from 52.9 to 49.5, marking the first decline below the neutral line since December[4] Central Bank Policies - Federal Reserve's rate cut probability for July is close to 0, with expectations of two cuts this year[4] - European Central Bank maintained its benchmark interest rate, indicating no urgency for further cuts[4] - Bank of Japan's deputy governor suggested potential for rate hikes due to reduced economic uncertainty from the U.S.-Japan trade agreement[4] Other Economic Developments - Eurozone services PMI rose to 51.2%, while manufacturing PMI increased to 49.8%, the highest in 36 months[4] - Ongoing military conflict between Thailand and Cambodia following border tensions[4] Upcoming Focus - Key upcoming events include U.S.-China trade talks, Q2 GDP data, and U.S. non-farm payrolls for July[4]

Group 1 - The core viewpoint of the article is that the U.S. will not consider trade agreements with Thailand and Cambodia until the border conflict between the two countries is resolved [1][3]. - President Trump expressed that both countries must end their conflict for the U.S. to engage in trade negotiations, indicating a willingness to return to the "trade negotiation table" once peace is established [3][5]. - Thailand's Deputy Prime Minister confirmed the country's principle agreement to a ceasefire and expressed a desire for bilateral talks to establish clear ceasefire measures [5][6]. Group 2 - Cambodia's Prime Minister agreed to the proposal for an immediate and unconditional ceasefire, indicating prior communication with Malaysia regarding this stance [6][7]. - The ongoing border conflict has resulted in significant casualties, with reports indicating over 100 people injured and more than 100,000 civilians displaced [10]. - The conflict has escalated, with Thailand's military conducting airstrikes against Cambodian military targets, leading to further casualties, including 20 deaths reported from the Thai side [11].

Group 1 - The core agreement between the US and Japan involves a 15% tariff on Japanese imports, with a total investment commitment of $550 billion from Japan to the US [2][4] - The agreement includes a 12.5% tariff on Japanese automobiles, in addition to a previous 2.5% tariff, totaling 15%, while steel and aluminum tariffs remain at 50% [2][4] - There are ongoing disputes regarding the details of the agreement, particularly concerning the implementation date of the 15% tariff and the interpretation of the $550 billion investment [4][5] Group 2 - Japan plans to increase its import of US rice by 75%, which will raise the total import volume to approximately 600,000 tons, while maintaining a minimum market access quota [6] - The agreement also includes significant commitments in agriculture, energy, manufacturing, and aerospace, with Japan agreeing to purchase $8 billion worth of US goods [5][6] - The Japanese government emphasizes that the increase in rice imports will not harm domestic farmers, despite concerns about the impact on local agriculture [6] Group 3 - South Korea is under pressure to negotiate a similar agreement with the US, especially in light of the recent US-Japan deal [7][8] - The new South Korean government is considering leveraging a planned investment of over $100 billion by Korean companies in the US as a bargaining chip in trade negotiations [7][8] - If South Korea fails to reach a new agreement before the August 1 deadline, a 25% tariff could severely impact its industries, particularly in sectors like semiconductors and automobiles [8][9]

Core Points - The trade negotiations between the EU and the US have intensified as the August 1 deadline approaches, with key disagreements remaining on tariffs for steel, automobiles, and pharmaceuticals [1][2] - The EU aims to establish a 15% tariff ceiling for sensitive industries, including pharmaceuticals, which is a critical point for potential compromise [1][2] - The current proposal includes a quota system for steel and aluminum imports, where products within the quota benefit from lower tariffs, while exceeding the quota incurs a 50% tariff [2][3] Group 1 - The US and EU bilateral trade relationship reached €1.6 trillion in 2023, making it one of the largest trade relationships globally [3] - The US has imposed additional tariffs of 10% on EU products, 25% on automobiles, and 50% on steel and aluminum [3] - The Trump administration has initiated new investigations into chips, pharmaceuticals, and aircraft parts, potentially expanding the scope of tariffs [3] Group 2 - Both parties are aiming to finalize an agreement before the August 1 deadline, or else the US plans to impose a 30% tariff on EU imports [4] - The EU is preparing retaliatory tariffs on nearly €100 billion worth of US products if negotiations fail [4] - The outcome of the negotiations heavily depends on President Trump's decisions, highlighting the uncertainty surrounding the final agreement [4]

Group 1: Trade Negotiations - The trade negotiations between the US and the EU have reached a critical moment, with EU Commission President Ursula von der Leyen set to meet President Trump to discuss trade issues [1][2] - Both sides are cautiously optimistic about reaching a framework agreement, despite ongoing intense discussions regarding tariffs on EU steel, automobiles, and pharmaceutical products [2][22] Group 2: Puma's Financial Performance - Puma has warned of expected losses this year due to weak sales and the impact of US tariffs, leading to a significant drop in its stock price, which fell over 19% on July 25 [4][5] - The company's second-quarter sales were reported at €1.94 billion (approximately ¥16.3 billion), falling short of analyst expectations, with North American sales down 9.1% and European sales down 3.9% [6] - Puma has revised its full-year sales forecast to a "low double-digit percentage" decline (approximately 10%-13%), compared to a previous expectation of low single-digit growth (around 3%-6%) [8] Group 3: Impact of Tariffs - The company anticipates that tariffs will negatively impact its gross profit by approximately €80 million (around ¥670 million) in 2025 [11] - Puma's new CEO acknowledged internal issues and emphasized the need for a comprehensive brand overhaul to address ongoing challenges [12] - The company has faced a cumulative stock price drop of over 53% since the beginning of the year due to a series of negative news [13] Group 4: Broader Industry Challenges - The ongoing geopolitical and macroeconomic uncertainties are expected to continue affecting the industry and Puma's performance significantly through 2025 [10][14] - The company previously indicated that the industry would likely see price increases due to tariffs, but noted that stronger brands in the US market would lead the price hikes [15][16]

Group 1 - The conflict between Thailand and Cambodia has entered its fourth day, resulting in over a hundred casualties and the displacement of more than 100,000 people [1][2] - UN Secretary-General António Guterres has called for an immediate ceasefire and dialogue to resolve the issues between the two countries [2] - US President Trump stated that the US would only consider trade agreements with Thailand and Cambodia once the conflict has ceased [3][4] Group 2 - The ongoing clashes have led to significant civilian impact, with 536 schools closed, affecting approximately 130,000 students and teachers [5] - Casualties reported include 13 Cambodian deaths and 71 injuries, along with over 20 Thai civilian deaths and 6 military fatalities [5][6] - The Thai military has accused Cambodia of initiating the conflict by attacking non-military targets, which they claim violates international humanitarian principles [6]

Core Viewpoint - The ongoing conflict between Thailand and Cambodia has resulted in significant casualties, with 21 Thai individuals reported dead, including 13 civilians and 8 military personnel [3][4]. Group 1: Conflict Details - The border conflict between Thailand and Cambodia began on July 24, with both sides accusing each other of violating international law [4]. - As of July 26, the Thai military has conducted airstrikes using F-16 and "Eagle" fighter jets against Cambodian military targets [19][16]. - Cambodia has reported that Thailand has deployed 8 naval vessels off its coast amid the escalating tensions [22]. Group 2: Diplomatic Efforts - U.S. President Trump has communicated with the leaders of both countries, emphasizing that the U.S. will only consider trade agreements once the border conflict is resolved [6]. - Thailand has expressed a willingness to agree to a ceasefire and is seeking bilateral talks to establish clear ceasefire measures [8]. - Cambodia has also agreed to an unconditional ceasefire proposal, indicating a readiness for dialogue [10]. Group 3: Safety Advisories - The Chinese embassies in Cambodia and Thailand have issued warnings to their citizens to avoid the conflict areas and to remain vigilant regarding their safety [12][13].

Core Viewpoint - The ongoing border conflict between Thailand and Cambodia has resulted in significant casualties and displacement, prompting international attention and calls for a peaceful resolution [1][5][10]. Group 1: Conflict Overview - The border conflict has entered its third day, causing over 100 casualties and forcing more than 100,000 people to evacuate to safe areas [1]. - As of July 26, the conflict has resulted in 21 deaths in Thailand, including 13 civilians and 8 military personnel [8]. - The Cambodian side reports 13 deaths, including 5 soldiers and at least 8 civilians, with numerous injuries [10]. Group 2: International Response - The United Nations Security Council held an emergency meeting to discuss the conflict, with both Thailand and Cambodia expressing a desire for a peaceful resolution [1]. - U.S. President Trump communicated with the leaders of both countries, stating that the U.S. would consider trade agreements only after the conflict is resolved [3][5]. Group 3: Trade Implications - Trump indicated that the U.S. plans to impose tariffs ranging from 20% to 50% on various trade partners, with a specific 36% tariff on Thailand and Cambodia, which could impact future trade negotiations [6]. - Both Thai and Cambodian leaders have agreed to meet and work towards a ceasefire, with Thailand expressing a desire for bilateral talks to establish clear ceasefire measures [6][10]. Group 4: Safety Measures - The Cambodian government has closed 488 schools in affected provinces and restricted air traffic over conflict zones to ensure safety [10]. - Chinese embassies in both Cambodia and Thailand have issued warnings to their citizens to avoid conflict areas and provided emergency contact information [12][14].

Core Viewpoint - The article discusses the ongoing border conflict between Thailand and Cambodia, highlighting the involvement of the United States in mediating a potential trade agreement contingent upon a ceasefire between the two nations [1][2][3]. Group 1: U.S. Involvement and Trade Agreements - President Trump indicated that the U.S. would only consider trade agreements with Thailand and Cambodia if the border conflict is resolved, expressing hope for a return to trade negotiations once peace is established [1]. - Trump has previously communicated with over 20 trade partners, announcing tariffs ranging from 20% to 50%, with a specific 36% tariff proposed for Thailand and Cambodia [3]. Group 2: Responses from Thailand and Cambodia - Thailand's Deputy Prime Minister confirmed the country's principle agreement to a ceasefire and expressed a desire for bilateral talks to establish clear ceasefire measures and procedures [2]. - Cambodian Prime Minister Hun Manet agreed to the proposal for an immediate and unconditional ceasefire, having previously communicated this stance with Malaysia's Prime Minister [3]. Group 3: Impact of the Conflict - The ongoing conflict has resulted in over a hundred casualties and the displacement of more than 100,000 people to safe areas, indicating a significant humanitarian impact [3]. - The United Nations Security Council held an emergency meeting to discuss the conflict, with both Thailand and Cambodia proposing peaceful resolutions to the dispute [3].

Group 1 - The conflict between Thailand and Cambodia has resulted in 21 deaths, including 13 civilians and 8 military personnel, as reported by the Thai government and military [1] - The border clashes began on the 24th, with both sides accusing each other of violating international law, and further exchanges of fire occurred on the 26th [1][3] - The United Nations Security Council held an emergency closed-door meeting to discuss the conflict, with both Thailand and Cambodia proposing peaceful resolutions [4] Group 2 - U.S. President Trump stated that the U.S. would consider trade agreements with Thailand and Cambodia only after the border conflict is resolved, expressing hope for a return to trade negotiations once peace is established [3] - Thailand's Deputy Prime Minister confirmed the country's principle agreement to a ceasefire and requested the U.S. to communicate this to Cambodia [3] - Cambodia's Prime Minister expressed agreement to an unconditional ceasefire proposal and had previously communicated this stance to the ASEAN chair [3]