Trump says he will soon announce tariffs on autos, aluminum, pharmaceuticals
President Donald Trump announced that he will soon impose tariffs on automobiles, aluminum, and pharmaceuticals, citing the need for domestic productionincaseofglobalconflictsorsupplychain disruptions. Speaking at a White House Cabinet meeting, Trump claimed that the U.S. has been “ripped off” by other countries and emphasized the importance of economic self-sufficiency.
Commerce Secretary Howard Lutnick confirmed that April 2 is the target date for implementing these tariffs, alongside the launch of what he referred to as “the external revenue service,” a new trade-related initiative. The tariffs are expected to impact global trade significantly, adding to ongoing tensions over U.S. trade policy.
US stocks end higher as traders focusontariffs,data
On March 25, U.S. stocks closed higher as investors reacted to consumer sentiment data and speculated on potential flexibility in President Trump’s upcoming tariff announcement. The S&P 500gained0.16%to5,776.65,theNasdaqrose0.46% to 18,271.86, and the Dow edged up 0.01% to 42,587.50.
Apple climbed 1.4%, helping lift the Nasdaq, while Nvidia slipped 0.6%. Tesla surged 3.45%, extending a rally despite declining market share in Europe. KB Home dropped over 6% after lowering its 2025 revenue forecast.
Consumer confidence fell to 92.9 in March, its lowest since February 2021, adding to concerns about economic growth. Moody’s warned of a longterm decline in U.S. fiscal strength due to widening deficits. Meanwhile, Fed Governor Adriana Kugler noted that inflation progress has slowed, and interest rates remain restrictive.
Source: https://www.theguardian.com/us-news/ https://www.reuters.com/world/us/trumpsays-he-will-soon-announce-tariffs-autos-aluminum-pharmaceuticals-2025-03-24/ 0/
Source: https://www.reuters.com/markets/us/wall-st-futures-sliptrump-led-rally-loses-steam-2025-03-25/
Photo: Reuters
S&P 500 ends lower as investors digestTrump'sautotariff
The S&P 500 closed lower on March 27, as investors reacted to President Trump’s announcement of a 25% tariff on imported cars and light trucks, set to take effect on April 3, and a duty on auto parts starting May 3. Stocks of automakers and parts manufacturers fell sharply, with General Motors dropping over 7% and Ford declining 3.9%. Tesla, which has mostly domestic production, edged up 0.4%.
The broader market saw declines, with the S&P 500 down 0.33% to 5,693.31, the Nasdaq falling 0.53% to 17,804.03, and the Dow losing 0.37% to 42,299.70. Energy and communication services led sector losses. Despite the market downturn, Apple rose 1.05%, helping to limit losses.
Investors remain cautious due to uncertainty over Trump’s trade policies and potential retaliatory tariffs. Meanwhile, weekly jobless claims fell to 224,000, and the unemployment rate appeared steady in March.
What's in Trump's new 25% tariffs on US auto imports?
ThPresident Donald Trump announced a 25% tariff on imported vehicles, set to take effect on April 3, 2025.Thiswillapplytofinishedvehicles,addingtothe existing 2.5% base tariff, and is expected to disrupt global supply chains and increase costs for automakers and consumers. General Motors and Ford, which rely heavily on imports, will be significantly affected, while Tesla remains unaffected due to its U.S.-based production. Countries with free trade agreements, including Canada, Mexico, South Korea, Japan, Germany, Italy, and the U.K., will also face the tariffs.
A 25% tariff on key auto parts, such as engines, transmissions, and electrical systems, will follow by May 3, 2025, though the exact details are pending. A partial exemption under the USMCA applies to vehicles and parts based on their U.S.-produced content, but the enforcement process remains unclear.
The tariffs could force automakers to shift production to the U.S., but in the short term, they are likely to increase vehicle prices, disrupt trade, and spark potential retaliatory measures from affected countries.
Source: https://www.reuters.com/markets/us/wall-st-futures-muted-auto-stocks-slide-aftertrumps-tariffs-2025-03-27/
Source:
https://www.reuters.com/business/autostransportation/whats-trumps-new-25-tariffs-us-auto-
Gold prices reached a record high of $3,086.21 per ounce on Friday, driven by concerns over U.S. President Trump’s new tariffs and their potential impact on inflation and economic growth. Spot gold rose 0.6% to $3,075.77, marking its fourth consecutive week of gains, while U.S. gold futures hit $3,124.40 before settling at $3,081. Analysts expect gold to test the $3,200-$3,250 range in the near term, especially if geopolitical and economic uncertainties persist.
The market remains supported by strong haven demand, central bank purchases particularly in Asia and renewed institutional interest in bullion-backed ETFs. Investors are also awaiting U.S. Personal Consumption Expenditures(PCE)data,whichcouldinfluence FederalReservepolicy,asthecentralbankrecentlyheldrates steady but hinted at possible cuts later in the year.
Meanwhile, other precious metals also saw gains, with silver at $34.43 per ounce, platinum at $983.50, and palladium at $979.61, all set for weekly increases.
Source:
https://www.reuters.com/markets/commodities/gold-climbs-record-high-trumps-tariffplans-spark-safe-haven-demand-2025-03-28/