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🚀 White House Refuses 0% Tariff offer from Vietnam

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Market Overview
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  1. White House trade advisor Peter Navarro dismissed Vietnam’s offer to eliminate tariffs on U.S. goods, saying it’s not enough to offset what he called “nontariff cheating” — including Chinese transshipments, intellectual property theft, and Vietnam’s value-added tax system. While President Trump had framed the zero-tariff pledge as progress, Navarro downplayed it, calling it merely a “small first start.” The remarks come amid market turmoil triggered by Trump’s sweeping new tariffs, including a 46% levy on Vietnamese imports, which sent the VanEck Vietnam ETF tumbling 10%. Navarro added that VAT policies would also be a sticking point in upcoming EU trade talks.

  2. European leaders are urging calm as markets reel from President Trump’s sweeping tariffs, which triggered retaliatory measures from China and sent global stocks tumbling. Poland’s Prime Minister Donald Tusk warned against “nervous decisions,” while Germany’s acting Economy Minister Robert Habeck called for a unified EU response. Trump’s 20% tariffs on EU goods have hit export-heavy countries like Germany hardest, particularly its struggling auto sector, while Poland faces a modest GDP hit but broader economic risks. As the EU weighs countermeasures, analysts warn of reduced U.S. demand, rising inflation fears, and the risk of recession spreading across the Atlantic.

  3. U.S. oil prices dipped below $60 a barrel Monday, rattled by fears that President Trump’s sweeping global tariffs could push the U.S. and world economies into recession. West Texas Intermediate hit a low of $58.95, while Brent crude slid to $62.51 — both at their weakest since 2021. The drop comes as OPEC+ accelerates production hikes and Saudi Aramco slashes prices, adding to downward pressure. Though Trump celebrated falling energy and food prices on Truth Social, economists like JPMorgan and Bank of America warned that a tariff-induced slowdown could hammer oil demand, widen surpluses, and drag prices — and shale producers — even lower.

  4. Headlines

    1. Ross Gerber, the CEO of Gerber Kawasaki believes that 30% of Americans will go bankrupt if Trump does not reverse course on his trade policies.

    2. Jaguar is pausing all shipments to the US due to Trump’s tariffs.

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