Trump takes a tough stance as the tariff deadline approaches
As the voluntary trade deadline approaches next week, President Trump is taking a tough stance, stepping back from discussions about extending the 90-day suspension that was initially described as a “mutual” agreement. Just a week ago, he unveiled the outline for a trade deal with Vietnam. Yet, while Vietnam typically doesn’t challenge the US, Trump […]
Japanese Yen drifts down from a one-month peak against USD due to tariff concerns
The Japanese yen is seeing some selling pressure following Trump’s comments about the US trade deal. Positive risk sentiment is putting additional pressure on the safe-haven JPY while supporting the USD/JPY pair. Expectations divergence between the Bank of Japan (BOJ) and the Federal Reserve may benefit JPY bulls and constrain the currency pair’s movement. The […]
CEO Uses 1.83 Million Amex Points to Cover Unexpected Tariff Cost
Small Businesses Struggle with Tariffs When an unexpected bill for around $11,000 hit, Robert Keeley found himself in a tight spot. In a somewhat desperate move, he decided to cash in 1.83 million American Express Reward Points to cover the cost. Keeley runs a guitar pedal company with 35 employees in Oklahoma City. His situation […]
Gold price update for Tuesday, July 1, 2025: Gold rises as tariff deadline nears
Gold Futures Update Gold futures began trading on Tuesday at $3,315.70 per ounce, showing a 0.7% increase from Monday’s close of $3,294.40. Interestingly, prices have also seen gains in earlier trading hours, possibly hinting at a reversal of weekly losses. Investors are on the lookout for updates regarding trade agreements and Senate discussions surrounding President […]
Indonesia Plans to Relax Import Limits Before Trump’s Tariff Deadline
Indonesia to Ease Import Restrictions Ahead of US Tariff Negotiations Indonesian officials announced on Monday that they will start relaxing import restrictions and licensing requirements as the July 9 deadline for US tariff negotiations approaches. Members of President Prabowo Subianto’s administration stated their commitment to streamline bureaucracy and reduce non-tariff barriers as part of trade […]
‘We Might Recover’: Scott Bessent Cautions Nations About Tariff Deadline
Trade Negotiations Update Treasury Secretary Scott Becent addressed trade partners on Monday, emphasizing the need for cooperation in ongoing trade negotiations and the potential reinstatement of tariffs that President Donald Trump imposed on April 2. On April 9, Trump announced a 90-day suspension of the tariffs he had levied on several countries, allowing time for […]
Trump indicates he may not prolong the July tariff deadline, while hinting at an unknown TikTok buyer.
On Sunday, President Trump seemed to downplay the idea of extending the July deadline concerning tariffs. After implementing a 90-day extension in April with his “liberation day” tariffs, his administration has reportedly struck deals with various countries, including the UK. While Trump showed last week that he might be open to adjusting deadlines, his comments […]
Treasury leader expects 10 additional tariff agreements by Labor Day
WASHINGTON – On Friday, Treasury Secretary Scott Bescent mentioned that the US might finalize 10 additional tariff agreements with various countries before Labor Day. This statement comes as the European Union seems to be moving towards a new trade deal. Bescent believes these trade agreements could significantly benefit the US economy, akin to the enhancements […]
European car stocks rise 2% following White House’s suggestion of extending tariff deadline
American Fund Managers Welcome Decision to Scrap Section 899 The Institute of Investment Companies (ICI), which represents US fund managers and some European entities, has expressed support for the Senate Finance and House Ways and Means Committee’s decision to remove Section 899 from President Trump’s expense bill. Previously, ICI had lobbied against this section, arguing […]
Powell Needs to Rely on the Data Instead of the Boston Fed’s Inaccurate Tariff Study
Inflation by Assumption: Fed Tariff Shortcuts Recently, Federal Reserve Chair Jerome Powell stirred some conversation with his remark regarding new tariffs potentially leading to price increases. He stated that those tariffs would inevitably be passed onto consumers, suggesting a significant jump in prices due to them. However, this viewpoint seems to reflect Powell’s personal circle […]