1. Donald-25: The new virus is devastating the world economy
President Trump’s aggressive tariff policies, dubbed “Donald-25,” have significantly disrupted global trade. The U.S. has raised average tariff rates by a factor of ten, leading to inflation fears, supply chain turmoil, and declining foreign investment. These measures have drawn parallels to the economic fallout of the COVID-19 pandemic and have sparked discussions of a potential third impeachment attempt amid growing unrest.
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2. UK Chancellor Rachel Reeves to advocate for trade deal in Washington
UK Chancellor Rachel Reeves is set to meet U.S. Treasury Secretary Scott Bessent to push for a trade deal, focusing on reducing tariffs on steel, aluminium, and cars. This meeting aims to mitigate the impact of Trump’s 10% global tariff hike and proposed 25% item-specific tariffs, with the UK offering to lower its digital services tax in return.
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3. IMF introduces a new playbook for sovereign debt restructuring
The IMF has announced a forthcoming playbook designed to assist countries with sovereign debt restructuring. Developed by the Global Sovereign Debt Roundtable, this guide aims to help finance ministers and central banks navigate debt challenges, especially amid rising global trade tensions and inflationary pressures.
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4. Global markets struggle amid U.S.-China trade war
Financial markets are reeling from the ongoing U.S.-China trade war, with tariffs exceeding 100% impacting economic forecasts. Analysts anticipate monetary easing from Beijing, while U.S. corporate earnings reports are under scrutiny for insights into how companies are coping with trade disruptions and inflationary pressures.
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5. Market snapshot: Tech stocks and tariff impacts
U.S. stock futures showed little movement following a positive start to the week, buoyed by U.S. tech tariff exemptions. Notably, Boeing shares fell after China halted new jet deliveries due to high costs from retaliatory tariffs, while Netflix stock rose on ambitious revenue goals. Bank of America and Johnson & Johnson both exceeded Q1 forecasts, though the latter saw a slight premarket decline.
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