News

On the 13th in Tokyo, Japan, World Trade Organization Director-General Iweala stated that the U.S. tariff measures pose a challenge to global trade. According to Bloomberg News, Iweala mentioned during a meeting with Japanese Prime Minister Shigeru Ishiba in Tokyo that the current trade sector is facing very severe conditions, but there are also many opportunities, which should be used as a chance to address challenges. Additionally, according to the Japan Broadcasting Corporation, Iweala and Ishiba agreed on the necessity of working together to address issues such as the defects in the WTO dispute resolution mechanism and to restore the cohesion of the WTO.

The U.S. Consumer Price Index (CPI) for April fell to 2.3%, slightly below the expected 2.4%, while the core CPI remained unchanged at 2.8%, in line with market expectations. This marks the lowest inflation rate in four years and the third consecutive month of decline. David Hernandez believes the report indicates that "the economy seems to be performing strongly," despite price pressures from tariffs. He stated that the Federal Reserve's 2% inflation target seems increasingly achievable, which may influence upcoming interest rate decisions. Coinbase's stock price surged by 16% after the U.S. stock market opened that day, leading to an overall rebound in cryptocurrency-related stocks, with Bitcoin and Ethereum prices also recovering. However, on May 13, the cryptocurrency market as a whole fell by about 3.4% due to profit-taking. Analysts believe this trend reflects the blockchain industry's stocks rebounding from the latest trade tensions.