Trump’s Tariffs: US Central Bank moves to step In as Trump refuses to back down
The United States President threw the world into a tailspin, last week, after imposing import taxes on tens of trade partners.
A decision which he eventually reconsidered by cutting them back to 10 per cent last Wednesday for ninety days.
In the statement of Susan Collins, president of the Boston Fed: “Markets are continuing to function well, and we’re not seeing liquidity concerns overall”.
Howbeit, she stressed that the central bank “does have tools to address concerns about market functioning or liquidity should they arise”.
In an interview with Financial Times, she said: “We have had to deploy various tools quite quickly in the past. We would absolutely be prepared to do that as needed.”
Meanwhile, President Trump made an allegation that his tariff policy was “doing really well” after China inflated duties on America-made goods to 125 per cent in vengeful response to Trump’s levies of 145 per cent on China goods.
Reports emerged in recent days that Apple has been shipping ‘1.5million iPhone’ from China to India.
According to reports released by Reuters, Apple has been moving to airlift iPhone to India in order to avoid prices from China hiking after following US imposition of tariff on China.
After successfully flying out about six cargo jets conveying 100 tons each since March this week just as the new tariff began, reported by an Indian government official.
“The packaged weight of an iPhone 14 and its charging cable come to about 350 grams (12.35 oz), Reuters measurements show, implying the total cargo of 600 tons comprised about 1.5 million iPhones, after accounting for some packaging weight,” their report estimated.
Apples plan is widely reported to have been staged for eight months, “Apple stepped up air shipments to meet its goal of a 20 per cent increase in usual production at iPhone plants,” Reuters claims.
This became possible “by adding workers, and temporarily extending operations at the biggest Foxconn India factory to Sundays”, the source added.
TRUMP-ARANCELES-IPHONE (AP)
Striking ’90 Deals In 90 Days’
Trump administration has lots of work on their hands to do. They will struggle to achieve their aims − Analysts
Donald Trump’s administration is looking to strike 90-trade deals in 90 days, but the difficulties to hastily resolving the president’s trade war are already obvious.
Maros Sefcovic, the European Union Trade chief, is going to be, on Monday, among first foreign trade officials to visit White House for quick negotiations about the harsh tariffs imposed by Trump on 2nd April.
Trump’s Tariffs: US Central Bank Moves To Step In
But when Sefcovic arrives Washington, president Trump’s senior tariff negotiator, Treasury Secretary Scott Bessent, is going to be in Argentina supporting their economic reforms.
Bessent’s absence pinpoints uncertainty among trade experts about how effectually Trump administration can sail through various simultaneous negotiations and the prospect for striking 90 deals in 90 days.
“Teeing up these decisions is going to take some serious negotiations,” according to Wendy Cutler−a former US Trade Representative senior negotiator who heads the Asia Society Policy Institute.
Trump’s Tariffs: US Central Bank Moves To Step In
“There’s no way during this timeframe we’re doing a comprehensive agreement with any of these countries.”
‘Key Factors Are The Exchange Rates’ as bank of England eyes effect of tariffs on inflation.
Trump’s Tariffs: US Central Bank Moves To Step In
Bank of England interest rate-setter Megan Greene stated on Saturday that it was equivocal what effects the United States President Donald Trump’s import would have on UK inflation.
“The implications for inflation, though, are somewhat ambiguous,” she said, noting the possibility of Chinese exports being diverted away from the US and towards
Europe which could push down on prices. But the most important thing to watch is what happens to currencies, Greene said.
“The key channel, really is exchange rates, and that’s been really difficult because exchange rates haven’t operated in the past week as the models would suggest,” she said.
“The dollar has fallen instead of appreciating as you would expect. A stronger dollar would normally push up inflation in other countries,” Greene said.
We Are Looking For Best Deal Possible – Rachel Reeves
In the statement of Rachel Reeves, the British Government is open to do anything it can to secure the “best deal possible” with the Trump administration on tariffs.
Prior to Trump’s 90-day hold-on, ten per cent tariff was imposed pin the United Kingdom compared with other EU nations, which faced 20 per cent tariff.
Presently, negotiations are at advanced stages for the future of the “special relationship”, prospecting a success can be achieved in coming days.
Reeves stated: “We continue to engage with our counterparts in the United States and of course we want to secure the best deal possible for British jobs and British industry. And we are absolutely … resolved to do everything we can.
Trump’s Tariffs: US Central Bank Moves To Step In
“But, at the same time, we also want to improve trading relations with other countries around the world.”
Meanwhile, Kevin Hassett, top economic adviser to President Trump, recently proposed that 10 per cent tariff rate might actually going to be a “baseline” and anything lower than this would be “extraordinary.”
‘We Cannot Turn Back The Hands Of Time’
Wang Yi, the Director of Chinese Communist Party, lambasted the Trump’s tariff policy which had catalyzed a “chaotic” international situation.
In his meeting with Director of the International Atomic Energy Agency, Rafael Mariano Grossi, in Beijing on Friday to discuss China’s reaction to Trump’s decision to hike import duties on Chinese goods to 145 per cent.
In a post on his verified X account, Chinese Ambassador to the United States, Xie Fen, reeled out their conversation.
He disclosed that he told Mr. Grossi: “The current turbulent and chaotic international situation is largely caused by a certain major power clinging to the belief in the supremacy of strength, prioritizing self-interest, and engaging in unilateral bullying.
“China stands up to oppose hegemonism, not only to safeguard our legitimate rights and interests, but also to protect the common interests of the international community, and to prevent a return to the jungle world where the strong prey on the weak.
Trump’s Tariffs: US Central Bank Moves To Step In
“The wheel of history cannot be turned back.”
Trump Blasted For His Stance On Tariffs
An examination of more than 15 nations, including major United States’ trade partners has proposed dilemma surrounding Donald Trump’s approach to tariffs.
“We really don’t know what the Trump administration wants,” one diplomat from an Asian country, who is close to the negotiations told Politico.
“We’ve been told literally nothing,” said another official representing an Asian country.
The confusion they said suggests a deal-making process that’s “reactive, with no clear direction.”
This came after Trump told reporters: “When people understand what we’re doing, I think the dollar will go way up.
“The bond market’s going good. It had a little moment but I solved that problem very quickly.”
China Set To Ignore Further Tariff By Trump
China has said it is ready to ignore further tariffs by the United States President Donald Trump after Beijing inflated levies on American goods to 125 per cent.
“Even if the US imposes higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history,” China’s finance ministry said yesterday.
“Given that it’s already impossible for the Chinese market to accept US imports at the current tariff level if the United States imposes further tariffs on Chinese products, China will ignore it,” it said.
Trump Tariff Policy Defeated Amidst Trade War
President Donald Trump maybe has encountered one of the biggest impediments for his tariff policy this week.
Trump’s Tariffs: US Central Bank Moves To Step In
Following a whipsaw outing in overnight markets on Tuesday evening, Trump blinked and declared a 90-day pause on his “reciprocal tariffs.”
President Trump, himself, conceded it came after the market got “a little queasy.” It also came following one of the most regarded executives on Wall Street, JPMorgan Chase CEO Jamie Dimon’s warning that the tariff policy might trigger recession.
It came to be that even as the Republican Congress and the courts hugely stand by, Trump can fail.
Additionally, the will not erase the fact that Trump still imposed 145 per cent duties on China and 10 per cent for other countries.
Democrats Move For Inner Trading Investigation
Top Senate Democrats have written to ask the Securities and Exchange Commission (SEC) to look into if President Donald Trump deployed inner trading and marker manipulation.
Trump sent a financial market into panic by declaring sweeping import duties on tens of trade partners last week.
This call, for investigation by the democrats, was triggered by Trump’s statement on Wednesday claiming that it was a “great time to buy” stocks. But A moment later, he put on hold most of the tariffs he had imposed.
“We urge the SEC to investigate whether the tariff announcements, which caused the market crash and subsequent partial recovery, enriched administration insiders and friends at the expense of the American public and whether any insiders, including the president’s family, had prior knowledge of the tariff pause that they abused to make stock trades ahead of the president’s announcement,” said the letter.
Trump’s Tariffs: US Central Bank Moves To Step In
Hakeen Jeffries< House minority Leader, stated earlier that Democrats “need to get to the bottom of the possible stock manipulation that is unfolding before the American people, including what if any advanced knowledge did members of the House Republican Conference have of Trump’s decision to pause the reckless tariffs that he put into place?”
“There are several members of Congress who will be aggressively demanding answers and transparency, particularly as it relates to the stock purchase decisions that may have occurred over the last few days.”
United States Central Bank Moves To Steady Market
The United States Federal Reserve warns it “would absolutely be prepared” to use its firepower to steady financial markets if the conditions were not improving due to president Trump’s “reciprocal” tariffs on tens of nations.
“Markets are continuing to function well, and we’re not seeing liquidity concerns overall, Susan Collins, president of the Boston Fed, said.
“However, she added that the central bank “does have tools to address concerns about market functioning or liquidity should they arise”.
“We have had to deploy various tools quite quickly in the past. We would absolutely be prepared to do that as needed,” She told The Financial Times.
Trump’s Tariffs: US Central Bank Moves To Step In
