US Court Blocks Trump Tariffs, Markets React

Tariff ruling, NYC’s $5B private equity sale, and oil-driven Gulf rally shaped yesterday’s financial landscape.

TL;DR:

• ⚖️ US court invalidates Trump-era tariffs
• 💼 NYC sells $5B in private equity stakes
• 🛢️ Gulf stocks climb as oil prices rally
• 🌐 Astana Forum opens, G20 summit scheduled

⚖️ US Court Invalidates Trump-Era Tariffs

A U.S. trade court ruled that former President Trump did not have legal authority to impose certain tariffs under emergency economic powers. This decision marks a major setback for Trump’s trade policies and could reshape existing import duties, lifting trade sentiment across global markets. Source

💼 NYC Sells $5B in Private Equity Stakes

New York City’s pension funds completed their first large-scale sale of private equity fund stakes, totaling $5 billion. The transaction is aimed at streamlining the city’s investment manager relationships and increasing liquidity, signaling growing institutional interest in the private equity secondaries market. Source

🛢️ Gulf Stocks Climb as Oil Prices Rally

Stock markets across the Gulf closed higher, driven by a rebound in oil prices and positive sentiment after the U.S. delayed additional tariffs on EU imports. Energy sector gains supported broader equity strength, particularly in Saudi Arabia and the UAE. Source

🌐 Astana Forum Opens, G20 Summit Scheduled

The 2025 Astana International Forum begins today, convening global leaders to address challenges in foreign policy, energy, and finance. Meanwhile, South Africa prepares to host the 2025 G20 Summit in Johannesburg, focusing on growth, food security, and AI’s role in sustainable development. Source | Source