Data and Financial Journalist
On April 2, dubbed “Liberation Day” by President Trump, the U.S. will impose new “reciprocal” tariffs on imports, escalating trade tensions with key partners.
While countries like China, Mexico, and Canada are already expected to be hit hardest, many European and Asian economies will likely see a huge impact, prompting global warnings of retaliation, trade wars and a global economic slowdown.
The Federal Reserve keeps its interest rate unchanged, maintaining its target range at 4.25% to 4.5%. When the Fed sets a target for interest rate, it commits itself to adjusting the money supply. To lower the Fed Funds rate, the Fed’s bond trades buy government bonds, increasing the money supply which in turn lowers the…
Canada hits back with tariffs as Trump moves forward with 25% tariff on two of its largest trading partners-Canada and Mexico.
The European Union (EU), America’s third-largest trading partner, retaliates after Trump unveils a 25% tariff on EU imports, a move that could drive inflation and escalate global trade tensions.