Quotes
The surprise for markets today isn’t so much Trump’s tariff announcements – largely as flagged,
said IG analyst Tony Sycamore With Trump placing an additional 25% tariffs on Mexican and Canadian imports and adding 10% to the current tariff rate on Chinese imports (with limited carve-outs), one can say that this outcome comes close to representing the most hardlined approach of all the possible scenarios we had considered,
Much of what we export, involves imported inputs. Cars move back-and-forth across the border between five and 10 times during assembly. This makes the whole of North America much less competitive, relative to Europe and Japan,
Summers posted on X, formerly known as Twitter Tariffs don’t cause inflation,
We are engaging at all levels, trying to convince the Trump administration that in the end, imposing tariffs on the European Union would trigger retaliatory tariffs from our side and this would be, in the end, a total lose lose situation.”
Tariff increases really right across the world can have a really damaging impact on global growth and trade, so I don't think it's what anybody wants to see."
Asked about Mr Trump's announcement, she told the BBC's Sunday with Laura Kuenssberg We want to reduce the barriers to trade, make it easier for businesses,
We have absolutely no interest in starting any kind of trade conflict,
It's remarkable to find ourselves at odds with our best friends."
Tim Houston, premier of the Canadian province Nova Scotia, released a statement on the move, saying We have big deficits with all three of them. And in one case, they’re sending massive amounts of fentanyl, killing hundreds of thousands of people a year with fentanyl. And in the other two cases, they’re making it possible for this poison to get in. We have about a $200 billion deficit with Canada… and a $250 billion trade deficit with Mexico,
Trump said during a press briefing Inflation would increase by 20 basis points in the US, and after an initial dip, by 30 basis points in China. The initial fall in inflation in China is caused by a temporary tightening of Chinese monetary policy aimed at offsetting the depreciation of the Chinese currency,
Tariffs vary by sector, with considerations such as protecting sensitive sectors from foreign competition and permitting access to important raw materials and intermediate goods. India has ensured that tariff policies comply with WTO rules and regulations. Over time, several efforts have been made to rationalise tariffs further and address the inverted duty structures,
We categorically reject the White House's slander of the Government of Mexico alleging alliances with criminal organizations, as well as any intention to interfere in our territory."
In a long post on X, the president added If tariffs drive inflation expectations higher, the Fed may feel pressured to keep rates restrictive for longer, tightening financial conditions and weighing on growth momentum,
Daco said in the new report The administration is playing with fire,
said Joe Brusuelas, chief economist at RSM It’s not like everyone will mark up their shelves tomorrow, and then it’s done,
The Dumbest Trade War in History.”
The Wall Street Journal went a step further, publishing a scathing op-ed on Saturday titled This may be the biggest own-goal yet,
Mary Lovely, senior fellow at the Peterson Institute for International Economics, told CNN in a phone interview To impose tariffs as high as 25% on our closest trading partners risks decimating the North American economic powerhouse—which the US relies on. Why would you want to burn your own house down
said Christine McDaniel, a former trade official in President George W. Bush’s administration who is now a senior research fellow at George Mason University’s Mercatus Center If the United States government and its agencies wanted to address the serious fentanyl consumption in their country, they could fight the sale of drugs on the streets of their major cities, which they don’t do, and tackle the laundering of money that this illegal activity generates, which has caused so much harm to its population.”
