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• Economist Adam Ozimek reports that the U.S. trade deficit remains high while tariff revenues are exhibiting a negative trend. • These findings raise significant doubts regarding the effectiveness of current U.S. trade policies and their ability to reduce deficits. • The analysis suggests that the expected economic benefits of imposing tariffs are not manifesting in the national revenue or trade balance.

Poll also finds perception of Donald Trump has soured since his re-election, with fewer than a third of respondents viewing him positivelyGet our breaking news email, free app or daily news podcastAustralians have a more negative view of Israel than of China, the latest Guardian Essential poll has found, with women and middle-aged people exhibiting the least positive perception of Israel.The poll also finds Australians’ perceptions of Donald Trump have tumbled since his re-election, with fewer than a third of voters having a positive response to the US president. Continue reading...

Minor party says it has also negotiated an extension to the inquiry into controversial changes to the NDISFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Greens will support the Albanese government’s negative gearing and capital gains tax changes under a deal that will delay and tweak Labor’s planned overhaul of the national disability insurance scheme.The minor party announced its position on Tuesday morning, clearing the path for Labor to pass its contentious budget centrepiece before federal parliament rises for the winter break. Continue reading...

Exclusive: Economists say falling house prices are largely in the more expensive parts of Sydney and Melbourne’s markets and are less likely to affect first-time property ownersFears that first-time buyers with tiny deposits will find their mortgages are worth more than their homes may be assuaged by new data showing falling prices are concentrated in the top end of the Sydney and Melbourne property markets.Climbing inflation, interest rates and worries about the economic fallout from the Middle East conflict have helped depress housing values in the country’s two biggest cities. Continue reading...

• The BSE Sensex and Nifty50 are expected to open lower today, as indicated by GIFT Nifty trends. • This negative outlook is driven by escalating geopolitical tensions involving the US, Israel, and Iran, which have also caused crude oil prices to rise. • Market volatility is anticipated throughout the week as equities react to a combination of domestic developments and overseas factors.

• Fitch Ratings reaffirmed Hungary's BBB sovereign credit rating but maintained a negative outlook due to weak economic growth and deteriorating public finances. • The agency cited fiscal uncertainty and a larger-than-expected decline in fiscal indicators leading up to the April parliamentary elections as primary concerns. • This rating is significant as it highlights the challenges the new government faces in restoring budgetary stability and managing unpredictable fiscal policies.

Prime minister launches impassioned argument in favour of much-maligned reforms announced in last week’s federal budget A visibly emotional Anthony Albanese has launched an impassioned defence of Labor’s proposed changes to negative gearing, the capital gains tax discount and family trusts, saying he will “not allow Australia to become a country where aspiration is only for some”.The prime minister has faced sustained criticism to the reforms, which include limiting negative gearing to new-builds while grandfathering existing properties, changing how CGT is calculated and imposing a new 30% minimum tax on discretionary trusts. Continue reading...

Exclusive: Any attempt to use the budget measures as an excuse to raise rent is opportunistic profiteering, housing advocates sayGet our breaking news email, free app or daily news podcastAustralia’s peak community and housing groups have urged federal parliament to quickly pass Labor’s changes to negative gearing and capital gains tax, saying the reforms would improve fairness for renters and young homebuyers.The government may introduce its negative gearing and CGT changes into parliament as soon as the coming sitting fortnight, with hopes of passing the legislation soon after with the support of the Greens. Continue reading...