- President Trump to Announce New Tariffs Amid Global Trade Concerns
U.S. President Donald Trump is set to announce new tariffs today, dubbed “Liberation Day,” which may include a 25% tariff on auto imports and reciprocal tariffs on countries taxing U.S. goods. This move has heightened fears of a global trade war, potentially impacting corporate earnings and economic growth.
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- Bank of Japan Warns of Tariffs’ Impact on Global Trade
Bank of Japan Governor Kazuo Ueda expressed concerns that the proposed U.S. tariffs could significantly affect global trade and economic growth. He emphasized the uncertainty surrounding the tariffs’ impact and indicated readiness to discuss these issues at the upcoming G20 meeting.
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- Hedge Funds Reduce Exposure in Asian Markets Ahead of Tariff Announcement
In anticipation of the U.S. tariff announcement, hedge funds have been cutting their positions in Asian markets, particularly in South Korea, China, and Taiwan. This strategic move reflects concerns over potential disruptions to export-driven Asian economies.
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- U.S. Dollar Strengthens as Markets Brace for Tariff Announcement
The U.S. dollar has firmed against other currencies as traders await the tariff announcement. The euro and British pound have slightly eased, while the Japanese yen and other Asian currencies are experiencing volatility due to the uncertainty surrounding U.S. trade policies.
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- Indian Rupee Retreats Amid Tariff Concerns
The Indian rupee has weakened by nearly 0.2% against the U.S. dollar, retreating from its year-to-date peak. The anticipated U.S. tariffs are expected to impact India’s economy, contributing to the rupee’s decline.
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