In August 2025, the Eurozone experienced a sharp decline in its trade surplus, which narrowed to €7 billion in June from €20.7 billion a year earlier, falling short of market expectations of €13 billion. This contraction was driven by a 6.8% surge in imports to €230.2 billion. Spain reported a trade deficit of €3.588 billion in June, up from €2.543 billion the previous month. The European Union's overall trade surplus dropped by 66.2% to approximately $8.18 billion in June compared to $24.19 billion the previous year. Meanwhile, in the United States, the Federal Reserve auctioned $76 billion in 6-month Treasury bills at a high yield of 3.945%, with a bid-to-cover ratio of 2.95, and $3.9 billion in bids for 3-month Treasury bills at a yield of 4.13%. The Fed also received $3.4 billion in bids for 6-month bills. In Argentina, the government conducted an off-schedule bond auction to absorb excess pesos, raising approximately 3.8 trillion pesos, intensifying monetary tightening. This followed a formal restructuring of Argentina's Ministry of Economy under Luis Caputo through Decree 585/2025. Additionally, Argentina's YPF replaced its CFO with new vice president roles. Despite external tariff pressures from the US, Catalan exports increased by 1.4%. Argentina's trade deficit rose 58.7% through June, even as exports reached record levels.