🚀 China imposes tariffs on the US

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. China will impose a sweeping 34% tariff on all U.S. imports starting April 10 in retaliation for the U.S.’s recent hike that brought total duties on Chinese goods to 54%. The move, condemned by Beijing as a violation of international trade norms, also includes blacklisting 11 U.S. firms, export controls on rare earths, and a WTO complaint. Markets reacted swiftly: U.S. stock futures plunged, with the Dow down 900 points, while European markets slumped amid fears of inflation, recession, and global supply chain disruption. Trump called China’s response “panic,” but analysts say this accelerates China’s pivot away from U.S. trade.

2. Federal Reserve Chair Jerome Powell warned Friday that Trump’s sweeping new tariffs are likely to push inflation higher and slow economic growth, prompting the Fed to hold off on further rate moves until the outlook becomes clearer. Speaking in Arlington, Powell emphasized the Fed’s focus on anchoring long-term inflation expectations and noted the size and impact of the tariffs were “larger than expected.” Though Wall Street anticipates rate cuts starting in June, Powell remained cautious, signaling no immediate policy changes. The Fed now faces the challenge of managing inflation risks without prematurely loosening monetary policy.

3. The U.S. economy added a stronger-than-expected 228,000 jobs in March, led by gains in health care, retail, and transportation, but the unemployment rate still ticked up to 4.2% as more Americans reentered the labor force. Average hourly earnings rose 0.3% for the month, bringing annual wage growth to 3.8%, the slowest since July 2024. Despite the strong headline numbers, markets remained focused on Trump’s aggressive new tariffs and the growing risk of a trade war, with stocks deep in the red and investors turning to safer assets. Analysts warned the jobs data, while positive, may not reflect the looming economic drag from global retaliation and reduced hiring appetite.

4. Headlines

   1. The EU is considering increasing regulations and restrictions on the US Big Tech companies in a move that could cause an unprecedented collapse of US markets.

   2. Oil is at its lowest in three years due to recession concerns.

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Onwards and Upwards,

Liam Gill