The joint statement advancing the U.S.–EU trade pact signals that Washington and Brussels are finally beginning to move beyond the rhetoric of “big deals” into the technical detail of tariff schedules, quotas, and legislative triggers.

While still provisional, the framework marks the most significant rebalancing of transatlantic trade relations in years and reveals the Trump administration’s distinctive approach: leveraging high, across-the-board tariffs to extract sectoral concessions from partners, with relief dangled in return for major European commitments in cars, metals, energy, and investment.

Global asset managers, pensions, and sovereign wealth funds are scrambling to bolster protection against a weakening U.S. dollar, a shift that underlines a profound rethinking of how the dollar fits into the global investment landscape—and what this means for capital flows, trade balances and even geopolitical influence.

For decades, international investors have treated the dollar as both a stabilizing anchor and an effective natural hedge. Because most overseas portfolios in U.S. equities carried built-in dollar exposure, the currency often served as a cushion: when U.S. stocks fell, the dollar would frequently rise, helping offset losses in local currency terms. But that correlation is breaking down.

Russia has reached an agreement with its OPEC+ partners to reduce oil exports, Deputy Prime Minister Alexander Novak announced. This agreement signifies that Russia, the world’s second-largest oil exporter, is continuing to cooperate with Saudi Arabia to cut both output and exports, in addition to the existing OPEC+ production cuts. While the specific parameters of this new agreement have not been disclosed, Novak stated that they will be made public next week.