Created
: 2025.05.23
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
US Treasury Sec. Bessent :US is far along in trade talks with India, Asian countries
World FX news
Breaking news
US Treasury Sec. Bessent :US is far along in trade talks with India, Asian countries
New
2025.05.23 23:24
2025.05.23 23:24
2025.05.23 23:24
In an interview with Fox News on Friday, United States (US) Treasury Secretary Scott Bessent said that US President Donald Trump believes that the European Union's proposals have not been of good quality, per Reuters.
Key takeaways
"Trump move is in response to EU's pace on tariffs."
"Hope this lights a fire under EU."
"EU has collective action problem."
"Would like to have apple help US to make semiconductor supply chain better."
"Trump trying to bring back precision manufacturing to US."
"US is far along in trade talks with India, Asian countries."
"Most countries negotiating in good faith except EU."
"These deals are moving quickly."
"Will see more deals announced within 90-day period."
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
: 2025.05.23
Related articles
US Industrial Production contracts 0.2% in May vs. 0.1% expected
10 minutes agoUSD/INR strengthens toward two-month high as Oil rally and Iran-Israel tensions weigh on Rupee
28 minutes agoUS Retail Sales decline by 0.9% in May vs -0.7% expected
57 minutes agoJPY is remarkably quiet - Scotiabank
2025.06.17 21:03GBP soft and underperforming in quiet trade - Scotiabank
2025.06.17 20:58EUR flat and ignoring stronger ZEW - Scotiabank
2025.06.17 20:54
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
US Industrial Production contracts 0.2% in May vs. 0.1% expected
Industrial Production in the United States (US) contracted by 0.2% on a monthly basis in May, the data published by the Federal Reserve showed on Tuesday. This reading followed the 0.1% growth recorded in April and came in worse than the market expectation for an expansion of 0.1%.
New
2025.06.17 22:22USD/INR strengthens toward two-month high as Oil rally and Iran-Israel tensions weigh on Rupee
The Indian Rupee (INR) weakens against the US Dollar (USD) on Tuesday, giving up Monday's modest rebound as heightened geopolitical tensions in the Middle East, stronger Crude Oil prices, and a resilient Greenback dampen sentiment ahead of the Federal Reserve's (Fed) key interest rate decision.
New
2025.06.17 22:04US Retail Sales decline by 0.9% in May vs -0.7% expected
Retail Sales in the United States (US) declined by 0.9% in May to $715.4 billion, the US Census Bureau announced on Tuesday. This reading followed the 1.5% decrease (revised from +0.1%) recorded in April and came in worse than the market expectation for a contraction of 0.7%.
New
2025.06.17 21:35JPY is remarkably quiet - Scotiabank
Japanese Yen (JPY) is entering Tuesday's NA session unchanged vs. the US Dollar (USD), having faded its marginal BoJ-driven gain following the central bank's policy decision, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.06.17 21:03GBP soft and underperforming in quiet trade - Scotiabank
Pound Sterling (GBP) is soft, down a modest 0.2% vs. the US Dollar (USD) but underperforming all of the G10 currencies in relatively quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.06.17 20:58EUR flat and ignoring stronger ZEW - Scotiabank
Euro (EUR) is quietly trading within an incredibly tight range, consolidating in the mid-1.15s just below its recent multi-year highs, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.06.17 20:54EUR/GBP remains close to the 0.8545 highs with downside attempts limited
Euro buyers appeared on Monday to keep downside attempts limited at the 0.8500 area and the EUR/GBP's immediate bullish trend intact.
New
2025.06.17 20:51Gold Price Forecast: XAU/USD rises near $3,400, remains supported by Middle East tensions
Gold price (XAU/USD) trades 0.4% higher to near $3,400 during European trading hours on Tuesday. The yellow metal edges up as demand for safe-haven assets remains firm amid conflicts in the Middle East.
New
2025.06.17 20:48CAD holds minor gain on USD - Scotiabank
The Canadian Dollar (CAD) is a mild outperformer on the session, catching a modest bid alongside the Australian Dollar (AUD) and New Zealand Dollar (NZD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.06.17 20:46Gold surges as Trump says he looks for a 'real end' to the Israel-Iran war
Gold moves higher against the US Dollar (USD) on Tuesday, trading around $3,395 at the time of writing, bolstered by an escalation in the Israel-Iran conflict and rising safe-haven demand.
New
2025.06.17 20:38Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
