Home World Main points of global economic news for June 5, 2026

Main points of global economic news for June 5, 2026

37
0
Main points of global economic news for June 5, 2026
View of a freight port in New York and New Jersey, United States. (Illustrative photo: THX/VNA)

1. The United States commits to maintaining tariff caps in agreements with the EU and Japan: US Trade Representative Jamieson Greer said on June 4 that the United States would maintain tariff caps in trade agreements signed with the European Union (EU), Japan and other countries. He also clarified that the proposed customs duties, linked to forced labor issues, provide the legal basis for this position.

2. The United States promotes the creation of a United States-China Trade Council: According to Inside Trade, the United States Trade Representative (USTR) has launched a public consultation process on the creation of a US-China Trade Council, a new mechanism proposed after President Donald Trump met with President Xi Jinping last month to manage trade relations bilateral agreements and facilitate tariff reductions on certain non-sensitive products.

Photo caption
Oil platform in Heilongjiang province, China. Photo: THX/VNA

3. Chinese oil demand becomes the main factor of uncertainty in the energy market: The sharp drop in Chinese oil imports is one of the major reasons the world is avoiding a more serious energy crisis. That’s the analysis recently made by traders and industry analysts, as the conflict in the Middle East enters its 100th day.

You may like

Crude oil prices have soared following a further escalation of the conflict in the Middle East.

4. Japan approves an additional budget of more than 3 trillion yen to deal with rising energy prices: The day after its adoption by the Lower House, the Upper House approved, on June 5, an additional budget of 3,110 billion yen (about $19 billion) for the 2026 fiscal year to mitigate the impact of rising energy prices. As a result, a reserve fund of 2.5 trillion yen will be created to meet the needs of the Middle East and minimize the impact on Japanese citizens.

Photo caption
Shibushi National Oil Station, Kagoshima Prefecture, southwest Japan. Photo: Kyodo/VNA.

5. Inflation in Southeast Asia slows thanks to falling oil prices: Inflation in the Philippines and Thailand is showing signs of slowing due to falling global crude oil prices. This situation significantly reduces the pressure on the central banks of both countries regarding the advisability of continuing interest rate increases. The Philippines’ Consumer Price Index (CPI) rose 6.8% in May 2026 from a year earlier, a slowdown from 7.2% recorded in April. During the same period, the inflation rate in Thailand also decreased from 2.89% to 2.79%.

6. South Korea: The won falls to its lowest level in 17 years: The The South Korean won hit a 17-year low against the U.S. dollar on June 5, as foreign investors continued net selling of South Korean stocks amid growing concerns over the geopolitical outlook in the Middle East. The won/USD exchange rate stood at 1,539.1 won per dollar, down 9.4 won from the previous session and its lowest level since March 9, 2009.

Photo caption
Anthropic, a company specializing in artificial intelligence (AI). Photo: AFP

You may like

Oil prices fell amid anticipation of a deal to end the conflict between the United States and Iran.

7. Anthropic calls for a global pause in AI development: On June 5, artificial intelligence company Anthropic suggested that the world consider pausing development of the most powerful AI systems, as newer models begin to show signs of vulnerability to human control. However, the company also warned that if just one company shut down operations, its competitors would quickly accelerate the process to gain an advantage.

Source : https://baotintuc.vn/kinh-te/diem-tin-kinh-te-the-gioi-noi-bat-ngay-562026-20260605204320266.htm