International News 10 June 2025
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US-China resume trade negotiations for second day, focus on rare earths exports
Senior representatives from the United States and China met for a second day of trade talks in London. The agenda included discussions on export policies concerning strategic commodities, with a particular focus on rare earths. The objective of these talks is to prevent disruptions to global supply chains and to ensure the continued growth of the economy. Investors are optimistic about improving relations between the two countries following previous trade agreements. Washington has accused Beijing of restricting exports that are crucial to various sectors, including the automotive, aerospace, and defence industries. The negotiations are taking place against the backdrop of economic pressures for both nations, with China experiencing a significant decline in exports to the US. While the impact on US inflation and employment remains limited, domestic economic uncertainties continue to exert pressure on the US dollar. The meeting, led by high-profile officials from both sides, indicates the importance of the discussions for trade relations between the US and China.
WPP Media cuts 2025 global advertising growth forecast to 6%
WPP Media has revised its 2025 global advertising revenue growth forecast from 7.7% to 6%, citing increased uncertainty around US trade policy as the reason for advertisers delaying marketing decisions. Many advertisers have been reluctant to make new ad spending commitments due to changing trade dynamics, particularly from the US. The company forecasts global advertising revenue to reach US$1.08 trillion this year, with 6.1% growth by 2026, driven by digital advertising, expected to account for 73.2% of total revenue in 2025. The report indicates that user-generated content will generate more advertising revenue than professional content. It is anticipated that print advertising revenue will decline by 3.1% to US$45.5 billion, while search advertising revenue is expected to increase by 7.3%. The report indicates a rise in the adoption of artificial intelligence (AI) technology in ad production and targeting, attributable to global economic uncertainty.
Oil Prices Stabilise Ahead of US-China Trade Negotiations
On Monday, oil prices stabilised as investors awaited the outcome of US-China trade talks in London. The hope is that these talks will result in a deal that will enhance the global economic outlook and increase demand. Brent crude futures rose by 0.59% to US$ 66.86 per barrel, while US West Texas Intermediate crude increased by 0.56% to US$ 64.94. Last week, Brent rose by 4% and WTI by 6.2%, driven by optimism surrounding a potential trade agreement. Prior to the London meeting, US President Trump and Chinese leader Xi Jinping engaged in discussions with a view to reducing trade tensions. A trade deal between the two countries could improve the global economic outlook and boost demand for commodities, including oil. As stated by IG market analyst Tony Sycamore, Chinese data releases, including slowed export growth and deepening factory gate deflation, may have an impact on oil prices.
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