‘We haven’t sold our soul to the devil’: Switzerland’s trade deal with the U.S. divides opinion
Switzerland’s trade deal with the U. S. has its supporters and detractors, and the Swiss economy is likely to take a hit, deal or no deal.
Tag: manufacturing
Stronger CNY despite weaker data – Commerzbank
The post Stronger CNY despite weaker data Commerzbank appeared com. The People’s Bank of China set its USD/CNY fix at 7. 0825 this morning, signalling for the seventh straight week that it prefers a stronger CNY. Since the end of September, USD/CNY has fallen by a total of 0. 5% (stronger CNY). At first glance, this may not seem like much. However, it should also be noted that the trade-weighted US Dollar (USD) also gained around 1% over the same period. In other words, the CNY also appreciated against other trading partners during this period, and even slightly more so, Commerzbank’s FX analyst Volkmar Baur notes. PBoC supports firmer JPY as economy softens “At first glance, this is particularly surprising because it is happening during a period of economic weakness. After the September figures already looked less than robust last month, the data released this morning pointed not only to continued weakness, but also to a worsening of the situation. Industrial production did rise by 4. 9% year-on-year in October. However, this not only fell well short of the consensus expectations according to Bloomberg (5. 5%), but was also significantly below the previous month’s figure (6. 5%). All other data were no better and in some cases significantly weaker. While retail sales remained in positive territory at 2. 9%, the crisis in the property market continues and appears to be intensifying again.” “Property sales fell by around 20% year-on-year in October, with construction starts down by almost 30%. What is particularly striking, however, is that the weakness in investment is no longer limited to the property sector. Fixed asset investment, which had risen by over 4% in the first quarter of this year, has recently fallen significantly. The Chinese statistics office only publishes aggregate figures for the entire 10 months of this year. However, it can be estimated from these figures that investment in October alone.
Trump Urged to Offer $2,000 Stimulus in Stablecoins, Firm Says It Could Ignite Bull Run
The post Trump Urged to Offer $2,000 Stimulus in Stablecoins, Firm Says It Could Ignite Bull Run appeared com. U. S. President Donald Trump has been advised to issue his proposed $2,000 stimulus in stablecoins instead of traditional cash payments. A crypto firm said the move could start a bull run across digital assets. Calls Grow for Trump’s $2,000 Stimulus to Be Issued in Stablecoins Recently, Trump announced that his administration intends to send a minimum of $2,000 per adult. Tariffs charged on foreign imports fund this. The president referred to the move as “a kind of dividend” for American taxpayers. He further added that this would exclude high-income earners. Crypto firm BowTiedBull said the “smartest thing Trump could do” would be to distribute the $2,000 stimulus using stablecoin payments. That, he said, could send the digital asset industry “into the stratosphere.” The smartest thing Trump could do is offer the $2,000 stimmy idea in stable coins. Not sure they actually care about crypto but it would send the industry into the stratosphere BowTiedBull came after Democratic victories in local and state elections. During the pandemic, the Trump administration approved two rounds of stimulus checks amounting to more than $814 billion in relief. According to IRS data, there were 476 million payments for individuals earning up to $75,000 and couples earning up to $150,000. Those measures helped stabilize an economy in downturn. This also coincided with Bitcoin’s surge from $10,000 to over $30,000 by the end.
‘Awkward’: Conservative analyst reveals how Trump’s tariff case could blow up in his face
Conservative analyst Ben Shapiro argued on Wednesday night that the Supreme Court is putting President Donald Trump “in an awkward position” over his key economic policy. The Supreme Court heard oral arguments on Wednesday in a case challenging Trump’s authority to impose sweeping tariffs under his emergency powers. Trump has argued that the tariffs are necessary to revive America’s manufacturing base. The Supreme Court seemed skeptical of those arguments on Wednesday, with Chief Justice John Roberts referring to them as a “tax” on the American people. Shapiro argued on CNN’s “NewsNight with Abby Phillip” that the Supreme Court could reject Trump’s tariff policy, which could have a ripple effect on his presidency. “One of the things that will be fascinating is if the court does strike it down, watch the stock market absolutely explode,” Shapiro said. “Seriously, you’ll watch the S&P 500 jump like nobody’s business, and the president is then going to be in the awkward position of having to explain why the markets are boosted by the rejection of his key policy.”.
GM blames EV challenges for 1,700 employee layoff in Michigan and Ohio
GM blames EV challenges for 1,700 employee layoff in Michigan and Ohio
CEO Jim Farley on steering Ford through Trump’s tariffs
Jim Farley discusses the difficulties of tariffs in imported parts, which have cost Ford $2 billion and may give an advantage to their competitors. He also explains why he drives a Chinese-made electric vehicle.
Trump boasts tariff tweaks as Ford, General Motors deliver strong earnings
The president recently extended exemptions for US firms using imported auto parts, and announced plans to slap fresh tariffs on foreign heavy-duty trucks to make American alternatives more competitive.
Thai Stock Market May Challenge 1,300-Point Mark
The Thai stock market on Wednesday snapped the two-day slide in which it had tumbled almost 50 points or 3. 9 percent. The Stock Exchange of Thailand now sits just above the 1, 285-point plateau and it’s expected to see a steady start again on Thursday.
Tim Cook says iPhone price increase has nothing to do with tariffs
Apple CEO Tim Cook stated that the recent price hikes for the iPhone 17 Pro and iPhone Air are not due to tariffs, despite a $100 increase from previous models, but did not provide further rationale.