China restricts critical mineral shipments to Japan, hurting firms and prompting calls for PM Sanae Takaichi to seek diplomatic off-ramp with Beijing

Hormuz closure strands nearly 1,200 cargo ships with $125bn in goods, FT reports — major disruption to global trade through critical maritime chokepoint

The closure of the Strait of Hormuz has stranded nearly 1,200 cargo ships carrying approximately $125 billion worth of goods, according to the Financial Times.

Mexico seeks 16-year USMCA extension at July 1 trilateral meeting

Mexico will formally propose a 16-year extension of the United States-Mexico-Canada Agreement (USMCA) at a virtual trilateral meeting on July 1, with President Claudia Sheinbaum set to sign the request, Economy Minister Marcelo Ebrard said.

EU's new levy on Chinese online imports takes effect next week, raising consumer shopping costs and adding another layer of trade friction between the two economies

EU consumers will face higher online shopping costs next week when a new levy primarily targeting China takes effect, adding a layer of trade friction between the two economies.

BOJ June meeting opinions show hawkish tone, members say appropriate to continue raising rates as financial conditions stay accommodative and import costs add to inflation pressures.

BOJ June meeting opinions reveal a hawkish tone, with members stating it is appropriate to continue raising interest rates as financial conditions remain accommodative and currency-driven import costs add to inflation pressures.