Stock markets and tariffs, today's news, August 11. Markets are cautious, with no extension of tariffs for China tomorrow.
European stock markets are starting the August bank holiday week on a high note. Attention remains focused on the trade war—the extension on tariffs against China expires tomorrow—and on geopolitical issues, ahead of the meeting between Donald Trump and Vladimir Putin , scheduled for Friday. According to some US media, US semiconductor giants Nvidia and Advanced Micro Devices have agreed to pay the US government 15% of their revenues from the sale of AI chips to China . In the absence of any significant macroeconomic data today, all expectations are focused on the US inflation data, due tomorrow, which the market expects to see an acceleration, while fears of stagflation are beginning to emerge among traders.
Asia closes positive, Tokyo shuts down for holidays
Asian stocks closed higher in a light session, with Tokyo closed for the Mountain Day holiday. Expectations are high for a possible extension of the 90-day trade truce between Washington and Beijing, which expires tomorrow. According to some reports, China is seeking concessions from the United States on export controls for artificial intelligence chips as part of a trade deal, potentially ahead of a summit between Presidents Trump and Xi Jinping. The Shanghai Composite Index rose 0.34% to 3,648 points, and the Shenzhen Component Index rose 1.46% to 11,291 points. Hong Kong gained 0.19% to 24,906.81 points. Sydney also performed well, gaining 0.43% to 8,844.80 points.
European stock markets slow and become mixed, with Milan down 0.05%.
European stock markets slowed mid-morning, with investors' attention remaining on tariffs and, in particular, the potential extension of the trade truce between Washington and Beijing, on the eve of the Stockholm Agreement's expiration. Focus is also on the mid-August meeting in Alaska between Donald Trump and Vladimir Putin to pave the way for a resolution to the conflict in Ukraine. London rose 0.20%, Frankfurt fell 0.45%, and Paris lost 0.27%. The Milan Stock Exchange dropped 0.05%.
July shopping cart growth accelerates to +3.2% from 2.8%
In July, the annual rate of change in prices for food, household goods, and personal care products (the so-called "shopping cart") showed an accelerating trend: they rose from 2.8% to 3.2% year-on-year (the preliminary estimate was 3.4%). Istat reported this, adding that prices for frequently purchased products also increased (from 2.0% to 2.3%).
Intel CEO at the White House
The US president had asked for his resignation due to the manager's ties to China. According to the Wall Street Journal , Lip-Bu Tan could propose a collaboration between the government and the IT giant.
Inflation at 1.7% in July, food prices accelerate
In July 2025, the national consumer price index (NIC), excluding tobacco, increased by 0.4% monthly and 1.7% year-on-year (as in the previous month), confirming the preliminary estimate. In its announcement, Istat explained that inflation is stable due to opposing price dynamics across various aggregates. Among goods, the year-on-year decline in energy prices is accentuated (-3.4% from -2.1% in June) and food prices are accelerating (+3.7% from +3.3%). In the services sector, tensions are observed in the prices of transport-related services (+3.3% from +2.9%) and miscellaneous services (+2.2% from +1.6%), while those of recreational, cultural, and personal care services are decelerating (+2.7% from +3.2%).
European stock markets open cautiously higher
European stock markets opened cautiously higher, driven by the Nasdaq's new all-time high, which closed Friday at 21,450.02 points. Investors' attention remains focused on the impact of new US tariffs and tomorrow's expiration of the agreement between Washington and Beijing, which analysts believe should extend the trade truce by 90 days. Eyes are also on Friday's meeting in Alaska between Donald Trump and Vladimir Putin regarding a ceasefire in Ukraine. On the macro front, US inflation and producer prices are being closely watched for July, providing clues to the Fed's next moves. In Europe, the July consumer price index for Italy is on the agenda today, followed by the Netherlands and Portugal tomorrow, followed by Germany and Spain on Wednesday, and France on Thursday. In early trading in London, the FTSE 100 index rose 0.21% to 9,108 points, in Frankfurt the DAX was flat, and in Paris the CAC 40 advanced 0.22% to 7,759.92 points. At Piazza Affari, the FTSE MIB index rose 0.35% to 41,768.69 points.
European stock markets set for a cautious rise
European stock markets are expected to start cautiously higher as investors assess the potential impact of US tariffs on the bloc's economy. Attention has also shifted to the possibility of an extension of the August 12 deadline for the US-China trade truce, with reports suggesting that Beijing would like the US to ease export controls on artificial intelligence chips as part of a trade deal. In pre-market trading, Euro Stoxx 50 and Stoxx 600 futures are both up around 0.2%. Futures on the London FTSE 100 index are flat, while those on the Frankfurt DAX are up 0.2%.
Nvidia and AMD to pay 15% to the United States on chip sales in China
The deal to resume chip exports could bring in more than $2 billion for the US.
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