TRADE POLICIES
Donald Trump's favorite channel, Fox, sees its reporter Charlie Gasparino criticize the President, says the U.S. is headed for deep trouble under him
Fox Business senior correspondent Charlie Gasparino has strongly criticized Donald Trump's tariff strategy, labeling it as potentially "insane." Gasparino warned on Fox News that Trump's high tariff policy could lead to serious financial turmoil in the U.S. He highlighted the bond market's critical role, cautioning that a shutdown could impact paychecks and national budgets.
WSJ comes down heavily on Donald Trump again; says the President surrendered to China in trade war
The Wall Street Journal has strongly criticized US President Donald Trump's decision to reduce tariffs on Chinese imports. The newspaper views this move as a major retreat rather than a victory. It argues that the tariff rollback undermines Trump's own trade policies. The Journal also highlights the damage to international trust caused by Trump's approach.
Apple supplier Foxconn cuts outlook due to tariff uncertainty
Foxconn, a major Apple and Nvidia supplier, anticipates challenges due to U.S. tariff uncertainties, leading to a more cautious full-year outlook despite strong AI server demand. While a temporary tariff truce offers some relief, the need for a permanent trade deal remains crucial. The company reported a significant jump in first-quarter profit and is expanding into electric vehicles.
US reverses Biden-era export controls on advanced AI chips
The United States has withdrawn a planned AI chip export control rule, originally set to limit access for certain countries. The decision, made by the Trump administration, followed backlash over potential diplomatic strain and harm to innovation. Chipmakers welcomed the move, while Washington reaffirmed restrictions on aiding China’s AI development.
Trade thaw offers 90-day reprieve as US, China seek off-ramp from economic decoupling
The United States and China have reached an agreement to reduce tariffs on each other's goods for 90 days. This move aims to ease economic tensions. Markets are responding positively to this development. Targeted tariffs in sectors like pharmaceuticals and automobiles are still possible. This provides an opportunity to build resilient global supply chains.
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Nasdaq, S&P ticked higher after April inflation data
Wall Street's main indexes were subdued at the open on Tuesday, as investors assessed the latest inflation numbers and their impact on monetary policy after markets came off sharp gains from the temporary Sino-U.S. trade truce.
Trump trade war faces legal challenge as businesses, states argue his tariffs exceeded his power
President Trump's imposition of sweeping import tariffs, justified by a national emergency declaration, faces legal challenges from small businesses and states. They argue he exceeded his authority under the International Emergency Economic Powers Act. The lawsuits, uniting unusual allies, could reach the Supreme Court, potentially reshaping presidential trade powers amid congressional efforts to reclaim authority.
Stocks rise across Asia on US-China trade truce
Shares in Australia and Japan jumped at the open after the S&P 500 closed more than 3% higher. Japan’s Topix gained for a 13th day, putting it on track for it longest winning streak in 16 years. A gauge of US-listed Chinese stocks surged 5.4% on Monday in its best session in over two months. The dollar was little changed in Asia after jumping Monday.
‘Buy America’ sweeps across global markets after trade talks
Wall Street surged Monday with the S&P 500 and Nasdaq 100 rebounding strongly, as a US-China tariff truce soothed recession fears and reignited optimism in tech stocks and broader market sentiment.
Investors cheer US-China tariff truce, but cautious over a final deal
The U.S. and China have agreed to a temporary tariff reduction, boosting global stocks and the dollar. This 90-day pause offers relief but caution remains as a permanent trade deal is still needed. Investors are now shifting focus to potential U.S. tax cuts and their impact on debt levels amid lingering economic uncertainty.
Charting the global economy: Chinese exports to the US slumped
Global central banks are responding to economic uncertainty fueled by US trade policies. The Bank of England cautiously cut interest rates, while the Federal Reserve held steady amidst tariff concerns.
Labour's love lost in USA: Lutnick’s Trumpian dream of highly-paid factory jobs with low-entry barriers is, well, a dream
Commerce Secretary Howard Lutnick envisions a future of high-paying factory jobs for Americans, fueled by tariffs and automation. However, skepticism arises due to the limited number of such positions, potential market saturation, and a shrinking workforce interested in manufacturing. The US trade deficit is increasing, and the economy is contracting, raising concerns about the efficacy of tariff wars.
Will Trump's proposal to cut tariffs on China to 80% signal a shift in trade policy?
Donald Trump is thinking about reducing tariffs on China. This is before important meetings between officials from the United States and China in Switzerland. These talks aim to reduce trade tensions. Trump mentioned a possible tariff decrease on social media. Top officials from both countries will discuss trade matters. This happens amid worries about the effect of tariffs on prices.
Fed keeps rate unchanged, flags inflation and growth concerns
The unanimous decision to stand pat will keep rates at 4.25% to 4.5%. Rates have been there since December after a series of cuts in the second half of 2024.
China says it has full confidence in ability to manage US trade issues
Chinese Vice Foreign Minister Hua Chunying expressed confidence in China's ability to manage U.S. trade issues ahead of crucial talks in Switzerland. Hua asserted that the U.S. trade policy is unsustainable, emphasizing the impact of tariffs on ordinary Americans. Despite not wanting conflict, China is prepared to face challenges and believes the U.S. will eventually return to a normal approach.
US weighs plan to lower China tariffs to as low as 50%: Report
Reports indicate that the Trump administration may reduce tariffs on Chinese imports. The tariff could be slashed by more than half. The New York Post reported this news citing sources. However, the White House has dismissed the report. The White House calls it speculation. The White House spokesperson said that tariff decisions will come directly from the President.
Shopify beats earnings forecast but warns of slower growth amid Trump tariffs and trade policy shifts
Shopify topped first-quarter earnings and revenue expectations but issued cautious guidance, citing uncertainty around Trump-era tariffs and changing trade policy. Despite macroeconomic pressures, the Canadian e-commerce firm remains confident, pointing to its high-income customer base and minimal exposure to Chinese imports. Shares dipped 5 per cent following the announcement
US President Donald Trump to hold news conference on Thursday, hints at a 'major trade deal'
President Trump announced an Oval Office news conference on Thursday at 10 a.m. EDT to unveil a significant trade deal with a "big, and highly respected, country." This announcement follows a period of intense trade negotiations and tariff implementations, including levies on various countries and commodities.
US Federal Reserve likely to hold rates steady as pressures mount
The Federal Reserve is expected to keep interest rates unchanged, citing high uncertainty due to trade policies. Despite concerns over tariffs, recent data shows stable inflation and employment. Markets anticipate future rate cuts. Fed Chair Powell may face questions on trade, inflation, and President Trump’s criticisms during the press conference.
EU ready to fight back against US tariffs with aggressive countermeasures? Trade chief's big hint
European Commission is set to reveal its strategy against US tariffs if negotiations falter. Maros Sefcovic announced preparatory steps, including rebalancing measures. EU aims for a fair deal, not succumbing to pressure. Tariffs on Boeing jets are considered. This follows a pause in retaliatory tariffs after Donald Trump suspended higher US duties.
Gold slips on US-China trade talk hopes; traders eye Fed policy
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's top economic official in Switzerland this week, U.S. officials said, in what could be the first step toward resolving a trade war disrupting the global economy.
World Diamond Council urges US to exempt natural diamonds from tariffs
World Diamond Council requests US government to exclude natural diamonds from tariffs. The council warns of potential job losses and economic disruption. Tariffs could raise consumer prices on jewellery. Retailers are concerned about inventory and rising costs. WDC advocates for fair trade to protect the jewellery industry. They highlight the industry's contribution to the US economy and jobs.
US president Donald Trump announces 100% tariffs on all movies produced abroad to protect Hollywood
Donald Trump announced new tariffs on foreign films. He claims Hollywood is suffering due to US filmmakers working abroad. Trump authorized the Commerce Department to impose a 100% tariff on imported movies. This follows China's reduction of US film imports. Trump stated other countries offer incentives to lure filmmakers. He considers the situation a national security threat.
India suspends exchange of all categories of mail, parcels from Pakistan through air and surface routes
Following a deadly terror attack, India has suspended all inbound mail and parcels from Pakistan, along with banning Pakistani-flagged vessels from Indian ports. Citing national security concerns, the government's trade restrictions, effective immediately, prohibit direct or indirect imports from Pakistan. This move is expected to significantly impact Pakistan's export sector and overall trade relations.
Gold gains on softer dollar, Fed decision awaited
Gold prices saw a slight increase, buoyed by a weaker dollar as investors await clarity on US trade policies and the upcoming Federal Reserve decision. Spot gold rose to $3,245.01 an ounce, while U.S. gold futures reached $3,252.00. Market focus remains on the Fed's policy decisions and speeches by officials this week for insights into future monetary policy.
Warren Buffett’s crystal ball: Is the US dollar headed for collapse amid global currency shift?
Warren Buffett has raised serious concerns over the future of the US dollar, calling out America's "alarming" fiscal habits. Speaking at Berkshire Hathaway’s annual shareholder meeting, the investing veteran said he wouldn't bet on a currency that’s "going to hell". Highlighting growing risks tied to government spending and global trade policies, Buffett suggested future investments may lean towards foreign currencies like the Japanese yen. He also warned against weaponising trade, while handing over CEO duties to Vice Chairman Greg Abel.
Charting the Global Economy: US hiring firm even after GDP falls
The stronger-than-expected advance in payrolls partly reflected stepped up hiring of transportation and warehousing workers needed to handle a recent flurry of imported goods.
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