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: 2025.05.01
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US President Trump: We need to give us a little time to get moving
World FX news
Breaking news
US President Trump: We need to give us a little time to get moving
New
2025.05.01 06:15
2025.05.01 06:15
2025.05.01 06:15
The US President Donald Trump speaks at the White House on the Investing in America event.
Key highlights:
Recent data is on Biden.
We need to give us a little time to get moving.
We are engaging with numerous nations currently.
We plan to support businesses in the upcoming weeks.
The tax bill will include retroactive expensing to January 20th.
Contact your local representative to get the tax bill approved.
Market's reaction
The US Dollar Index (DXY) edges slightly up, post gains of over 0.44% at 99.62 as Trump crosses the newswires.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.05.01
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NZD/USD drifts higher above 0.5900 on US-China trade optimism
The NZD/USD pair posts modest gains near 0.5935 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the Greenback amid hope for a US-China trade deal.
New
2025.05.01 11:11Japanese Yen looks to BoJ for fresh impetus; bullish potential seems intact
The Japanese Yen (JPY) snaps a two-day losing streak against its American counterpart as traders opt to move to the sidelines and wait for the crucial Bank of Japan (BoJ) policy decision this Thursday.
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2025.05.01 11:07Australian Dollar remains stronger due to upbeat Trade Balance data
The Australian Dollar (AUD) is extending its gains against the US Dollar (USD) on Thursday. The AUD/USD pair appreciates following the release of Trade Balance data from Australia.
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2025.05.01 10:55Australia's Trade Surplus climbs to 6,900M MoM in March vs. 3,130M expected
Australia's trade surplus rose to 6,900M MoM in March versus 3,130M expected and 2,852M (revised from 2,968M) in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.
New
2025.05.01 10:36US President Trump: Very good probability we'll reach a deal with China
In a NewsNation Town Hall interview early Thursday, US President Donald Trump said there is a "very good probability we'll reach a deal with China."
New
2025.05.01 10:21Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US Dollar
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
New
2025.05.01 09:51A bipartisan measure to block Trump's tariffs fails in the US Senate
A bipartisan measure that sought to undo the sweeping tariffs that US President Donald Trump imposed on most countries earlier in April failed in the GOP-led Senate on Wednesday, per NBC.
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2025.05.01 09:05US Trade Rep. Greer says initial trade deals are still weeks away
US trade representative Jamieson Greer said late Wednesday that US President Donald Trump's administration expects to conclude initial tariff deals with some US trading partners within weeks.
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2025.05.01 08:41EUR/USD weakens below 1.1350 on renewed US Dollar demand
The EUR/USD pair trades with mild losses near 1.1325 during the early Asian session on Thursday, pressured by renewed US Dollar (USD) demand. The US Dollar Index (DXY) advanced further and reached two-day highs around 99.70.
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2025.05.01 08:19Bank of Japan expected to hold interest rate at 0.50% amid US trade war uncertainty
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2025.05.01 08:00Disclaimer:
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