EU and U.S. Moving Toward Trade Deal with 15% Baseline Tariff Framework

MACROECONOMY
EU and U.S. Moving Toward Trade Deal with 15% Baseline Tariff Framework
The EU and U.S. are negotiating a potential trade agreement featuring a 15% baseline tariff on EU goods with possible sector exemptions, similar to the U.S.-Japan deal announced Tuesday, as European negotiators seek to avoid Trump's threatened 30% tariff rate set for August 1. The framework could include concessions for aircraft, lumber, medicines and agricultural products, while EU member states prepare to vote on EUR 93 billion in counter-tariffs on U.S. goods Thursday as a backup measure. (Reuters)

INDUSTRY
Japan's June Crude Steel Output Fell 4.4% YoY , Marking Third Consecutive Monthly Decline
Japan's crude steel production dropped to 6.72 Mt in June, down 4.4% YoY and 1.7% MoM, weighed by sluggish domestic demand from automotive sector and weak exports amid high Chinese shipment volumes. First-half output fell 5% to 40.55 Mt, the lowest since 2009 financial crisis, with federation analyst noting the current slump shows no recovery signs and appears more serious than previous downturns. (Reuters)

COMPANY
Bumi Serpong Damai (BSDE) 1H25 Marketing Sales Hit 51% of FY25 Target
BSDE booked 1H25 marketing sales of IDR 5.08 tn (+5% YoY), reaching 51% of its FY25 target of IDR 10 tn. Commercial segment was the main driver, contributing IDR 2.27 tn (45% of total), followed by housing at IDR 2.19 tn. BSD City remained the key contributor, making up 62% of total sales. The Co. is optimistic about achieving the full-year target, supported by resilient market absorption and recent 25bps rate cut from BI. (Bisnis.com)