The European Central Bank (ECB) has presented 10 design proposals for a planned new series of euro banknotes and is now asking citizens across Europe to have their say, with an online survey open until September 21. The ECB's governing council is expected to select a proposal in late 2026, though it will then be some time before people hold the new ...

Senior US Official Briefs: US Sets 10%-12.5% Tariff For Many Nations That Don't Ban Forced Labor, Citing Forced Labor; Tariffs Begin As Prior 10% Global Duty Expires; Exempts Oil, Gas, Fertilizer, Food Stuffs U.s. Official Says It Is Not The Case That These Measures Simply Replicate The Ieepa Tariffs Struck Down By The Supreme Court, And That The President Will Use The Tools At His Disposal, Including Tariffs, To Achieve The Outcomes He Wants. U.s. Official Says Oil And Gas, Fertilizer And Certain Foodstuffs Will Be Exempted, Along With Goods Subject To Section 232 National Security Tariffs And Usmca-compliant Goods, Given The Integrated Nature Of North American Supply Chains And High U.s. Content Levels. U.s. Official Says The New Section 301 Tariffs Take Effect At 12:01 A.m. (0401 Gmt) July 24, With An Effective Date For Goods In Transit Of 12:01 A.m. (0401 Gmt) July 28, As Section 122 Tariffs Expire On July 24.

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This Report assesses developments in international economic and exchange rate policies over the four quarters through December 2025 (the official Report period) and more recent developments where data are available. The analysis in this Report is guided by Sections 3001-3006 of the Omnibus Trade and Competitiveness Act of 1988 (1988 Act) (codified at 22 U.S.C. §§ 5301-5306) and Sections 701 and 702 of the Trade Facilitation and Trade Enforcement Act of 2015 (2015 Act) (codified at 19 U.S.C. §§ 4421-4422), as discussed in Section 1 of this Report. Treasury reviews developments in the 20 largest trading partners of the United States over the period of review. These economies accounted for about 78% of U.S. trade in goods and services over the four quarters through December 2025. The Trump administration is committed to pursuing economic and trade policies to spur an American revitalization marked by strong economic growth, the elimination of destructive trade deficits, and countering unfair trade practices. For decades, unfair currency practices abroad have contributed to the U.S. trade deficit and the hollowing out of U.S. manufacturing employment. When a trading partner engages excessively in foreign exchange market interventions or other actions to artificially lower the value or suppress appreciation of its currency, it imposes significant hardship on American workers and companies for its own gain. Treasury is committed to aggressively and vigilantly monitoring and combatting unfair currency practices. Treasury continues to assess whether the United States’ trading partners are undertaking foreign exchange intervention and implementing non-market policies and practices to manipulate their currencies for unfair competitive advantage in trade to the detriment of American economic strength. This Report assesses the macroeconomic Us Treasury Refrains From Labeling Any Nation A Currency Manipulator, While Singling Out China For Its Relative Lack Of Transparency