A key U.S. inflation gauge slowed last month as President Donald Trump's tariffs have yet to noticeably push up prices, while American incomes jumped.

Friday's report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in March and the lowest since September. Excluding the volatile food and energy categories, core prices rose 2.5% from a year earlier, below the March figure of 2.7%. Economists track core prices because they typically provide a better read on where inflation is headed.

Under the patronage of the Ministry of Economy and Trade, Beirut is set to host the inaugural edition of AUTOPARTS EXPO, Lebanon’s first dedicated exhibition for automotive parts and services. Scheduled to take place from June 3 to 5, 2025, the event marks a pivotal moment for a sector that impacts virtually every household, business, and driver in the country.

This specialized exhibition will bring together leading local and regional companies representing dozens of international brands in the field of spare parts: ranging from interior and exterior components, to batteries, lubricants, garage equipment, and more. It presents a unique opportunity for traders, business owners, mechanics, distributors, and automotive enthusiasts to explore the latest innovations, connect with certified agencies, and forge new commercial alliances.

The EU is "fully invested" in reaching a deal with the United States to avoid sweeping tariffs, the bloc's trade chief said Friday, after U.S. judges ruled the controversial measures were unconstitutional.

"Our time and effort fully invested, as delivering forward-looking solutions remains a top EU priority. Staying in permanent contact," EU trade commissioner Maros Sefcovic said on X after a call Thursday with U.S. Commerce Secretary Howard Lutnick.

South Korea's central bank cut its key interest rate and sharply lowered its growth outlook for the country's economy in 2025, as it moved Thursday to counter U.S. President Donald Trump's tariff hikes and weak domestic demand worsened by recent political turmoil.

Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. It was its fourth cut since October, when it began lowering borrowing costs for the first time in years to support a weakening economy. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February.

Japanese Prime Minister Shigeru Ishiba on Thursday showed his determination to defend rules-based free and multilateral trade systems and take a leadership role to expand the Asia-Pacific trade group at a time of deepening tensions and divisions over U.S. tariffs and trade wars.

"High tariffs will not bring economic prosperity," Ishiba told a global forum in Tokyo. "A prosperity built on sacrifices by someone or another country will not make a strong economy."

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump's trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate.

First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes.

Syria signed a $7 billion energy deal on Thursday with a consortium of Qatari, U.S. and Turkish companies as it seeks to rehabilitate its war-ravaged electricity sector.

The agreement was signed at the Syrian presidential palace in the presence of interim President Ahmad al-Sharaa and U.S. envoy for Syria Thomas Barrack. It is expected to generate 5,000 megawatts, covering half of the country's electricity needs.

Financial markets welcomed a U.S. court ruling that blocks President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law.

U.S. futures jumped early Thursday and oil prices rose more than $1. The U.S. dollar rose against the yen and euro.

Truck drivers in Iran blocked roads and ports Wednesday as part of their strike protesting low salaries, high insurance rates, and a possible hike in fuel prices.

The strikes, which began last Thursday in the southern port city of Bandar Abbas, one of the country's main transportation and shipping hubs, have now spread across Iran. The protests are slowly gaining steam, supported by prominent dissident voices, and could morph into more serious protests against the government.

A federal trade court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. The ruling from a three-judge panel came after several lawsuits arguing Trump has exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos.

At least seven lawsuits are challenging the levies, the centerpiece of Trump's trade policy. Tariffs must typically be approved by Congress, but Trump says he has the power to act because the country's trade deficits amount to a national emergency.