US President Donald Trump on Friday provided an update on how the tariff policy was faring and said that it was "very exciting for America and the world".
"We are doing really well on our TARIFF POLICY. Very exciting for America, and the World!!! It is moving along quickly," he said in a post on Truth Social.
This comes as US dollar sharply declined, hitting a three-year low against the euro, largely due to concerns over Trump’s unpredictable trade policies. This slide marks a significant turnaround from the post-election surge in 2016, when investors were optimistic about Trump’s economic plans.
As a weaker dollar raised fears of rising inflation, reduced corporate profits, and declining foreign investment in US markets, Trump shared a report on inflation being down. The consumer price index rose only 2.4% in April compared to March 2024, marking the lowest annual increase since September. Meanwhile, core consumer prices recorded their slowest year-over-year growth in nearly four years.
China increased tariffs on US goods from 84% to 125%, marking the latest escalation in the ongoing trade war between the world's two largest economies. The move comes in response to the US raising its own tariffs on Chinese imports to a cumulative 145%, even as Trump decided to hit a 90-day pause on tariff imposition exempting China.
"We are doing really well on our TARIFF POLICY. Very exciting for America, and the World!!! It is moving along quickly," he said in a post on Truth Social.
This comes as US dollar sharply declined, hitting a three-year low against the euro, largely due to concerns over Trump’s unpredictable trade policies. This slide marks a significant turnaround from the post-election surge in 2016, when investors were optimistic about Trump’s economic plans.
As a weaker dollar raised fears of rising inflation, reduced corporate profits, and declining foreign investment in US markets, Trump shared a report on inflation being down. The consumer price index rose only 2.4% in April compared to March 2024, marking the lowest annual increase since September. Meanwhile, core consumer prices recorded their slowest year-over-year growth in nearly four years.
China increased tariffs on US goods from 84% to 125%, marking the latest escalation in the ongoing trade war between the world's two largest economies. The move comes in response to the US raising its own tariffs on Chinese imports to a cumulative 145%, even as Trump decided to hit a 90-day pause on tariff imposition exempting China.
You may also like
Fury as National Trust bans coaches from Birling Gap and the Seven Sisters
Pakistan violates ceasefire along LoC for 12th day, Army responds in 'proportionate' manner
J-K: Development activities in full swing in Rajouri amid rising tensions with Pakistan
Trump announces £300 million plan to reopen Alcatraz prison which once housed Al Capone
"Today Russia stands with India because of Nehru, Indira's foreign policy": Congress leader Supriya Shrinate
