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U.S. retail egg prices fell in April from the record-high prices they hit earlier this year, according to government data released Tuesday. It was the first month-to-month drop in egg prices since October 2024. While wholesale egg prices have been coming down for a while, it was unclear how much store prices would decrease in April because consumer demand is usually high around Easter and Passover.

U.S. consumer prices rebounded moderately in April, leading to the smallest annual increase in four years, but the inflation outlook remains unclear against the backdrop of tariffs. The rise in prices reported by the Labor Department on Tuesday was below economists' expectations and did not change their view that the Federal Reserve would continue to pause its interest rate-cutting cycle until late in the summer. The data suggested that price pressures were cooling before President Donald Trump's sweeping import duties, whose impact is expected to become evident starting with consumer price data in May.

The headline year-over-year pace edged down to 2.3% and the core rate was flat at 2.8%.

Inflation eased to new 4-year low in April before tariffs had yet to significantly boost consumer prices.

Baotou Tianhe Magnetics, which makes the magnets used in electric and hybrid car motors, received a licence for Volkswagen in late April, three sources said. One of the sources added that the automaker had reached out to Beijing to help during the process. "We remain in close contact with our suppliers and have received indications that a limited number of Volkswagen AG’s magnet suppliers have been granted export licenses by the Chinese government," Volkswagen said in response to questions from Reuters, declining to provide further detail.

The Bureau of Labor Statistics' latest consumer price index report showed that inflation ticked slightly higher in April as tariffs begin to have an economic impact.

Brazil signed protocols with China on Tuesday to allow exports of an ethanol by-product used in animal feed, challenging U.S. dominance in the market amid ongoing China-U.S. trade standoff. The deal, outlined in a Brazilian government document viewed by Reuters, underscores Brazil's push to strengthen agricultural ties with China as President Luiz Inácio Lula da Silva visits the country, and as rising domestic DDG production fuels the search for alternative markets. In an interview with Reuters on Monday, the president of Brazil's National Corn Ethanol Union (UNEM) said Brazil and China have been working since 2022 to finalise a sanitary agreement for DDG exports, adding current "broad geopolitical shifts" present a favourable time to conclude the deal.

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