
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
American officials insist on quotas as well as other restrictions on imports of steel and aluminum, a senior sales representative told today after the White House announced an extension of the monthly benefits for Canada, Mexico and also the European Union.
As the White House representatives pointed out they will have quotas and also other restrictions so that they could protect their industries in the interests of national security.
In March the Trump administration told that it would impose a 25% duty on steel imports as well as 10% on aluminum in an attempt to stop imports from China, which, according to the US President, lowered prices and also pulled American companies out of business.
At the same time the US President dared to grant temporary exceptions to American allies, such as Canada, Mexico and the European Union, which expired on Tuesday morning. The administration told Monday night that these benefits will continue for a month. However, adding full duties appears to be one option.
Last night's decision turns to be a step forward anyway. That’s what Canadian Foreign Minister Christiane Freeland revealed to reporters on Tuesday. He added that Canada will keep working for full as well as permanent exemption from duties.
By the way, until Tuesday, South Korea turned out to be the only country with full exemption after it agreed to quotas. On Monday, the US government told that it managed to reach an agreement on constant duties for Brazil, Argentina and Australia.
In addition to this, the American authorities tried to link the exemption from duties for imports of steel and aluminum from the European Union in the direction of cutting duties for car imports. However, this step was denied by the European Union, which pointed out that it should get a permanent exemption from duties before conducting a broader discussion on trade.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
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