Bankinter | The trade balance in the first two months of the year totalled $213.6 billion, compared to the expected $179.6 billion and the previous $169.21 billion. Exports rose 21.8% in the period, compared to an expected 7.1% and 6.6% in December. Imports rose 19.8%, compared to an expected 7.0% and 0.0% previously. Bankinter analysis team’s view: Exports accelerated in the first two months of the year, driven by demand…
Link Securities | Reuters reported on Friday that a group of 24 US states have sued the US administration in the first legal challenge to its newly imposed 10% global tariffs. The states argue that President Trump cannot circumvent the Supreme Court (SC) ruling that invalidated most of his previous tariffs on imported goods by citing new legal authority. The Democrat-led states, including New York, California and Oregon, argue that…
Link Securities | US President Donald Trump announced on Friday the signing of an executive order that would impose a 10% global tariff on all countries under Section 122 of the Trade Act of 1974. The next day, he changed his mind and said he would raise it to 15%. The decision came after it was revealed that the Supreme Court had ruled that his use of the International Emergency…
Bankinter | Trump threatens tariffs on countries that send troops to Greenland. The tariffs would be 10% and would begin on 1 February and rise to 25% on 1 June. The countries affected at this time are Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland. The tariffs would remain in effect until ‘an agreement for the complete and total purchase of Greenland’ is reached. Bankinter analysis…
Norbolsa | China will suspend for one year the additional 24% tariffs it imposed on US products in April, maintaining the 10% tariffs on all US products introduced in retaliation for the tariffs announced on Liberation Day. In addition, the government announced that it will eliminate tariffs of up to 15% imposed on a range of agricultural products from 10 November, although it will maintain tariffs of 13% on Chinese…
Link Securities | US President Donald Trump signed an executive order to extend the trade tariff truce with China for another 90 days, as confirmed by Trump himself and the Chinese Ministry of Commerce. With the latest round of negotiations set to expire early Tuesday morning, this pushes the deadline to mid-November, providing crucial relief for seasonal import increases ahead of Christmas. The US will maintain 30% tariffs on Chinese…
Link Securities | The United States has imposed tariffs on imports of one-kilogram gold bars, a move that threatens to disrupt the global bullion market and deal a further blow to Switzerland, the world’s largest precious metals refining centre, according to Expansión. The Customs and Border Protection (CBP) agency stated that one-kilogram and 100-ounce gold bars should be classified under a customs code subject to duties, according to a letter…
Bankinter | Trump announces additional 25% tariffs on India for importing oil from Russia. These are in addition to the 25% announced last week, bringing the final tax to 50%. Bankinter analysis team’s view: The US president has followed through on his threats and raised tariffs on Indian imports to 50% as a sanction for buying oil from Russia. The Indian government considers the measure ‘unfair and unreasonable’, arguing that…
Link Securities | The digital portal Bolsamania.com reported that President Donald Trump has indicated that he will ‘probably’ implement a general tariff of between 15 and 20% on imports to the United States from countries that have not negotiated separate trade agreements. ‘For the world, I would say it will be somewhere between 15 and 20%… I just want to be nice,’ the president said during a press conference with…
Link Securities | US President Donald Trump announced yesterday a trade agreement with Japan that will result in the imposition of 15% trade tariffs on Japanese imports, instead of the 25% tariffs announced in the initial letter. Government officials from both countries confirmed that this tariff reduction will also apply to automobiles. Trump said Japan agreed to open its agricultural and automotive markets to US companies. Bloomberg quoted a senior…