US: White House Considering Slashing China Tariffs in Latest De-Escalation
Apr-23 13:46
- Trump's administration is reportedly considering "slashing" its steep tariffs on Chinese imports by more than half in some circumstances, according to WSJ sources. The piece writes that Trump has not yet made a final determination, with discussions remaining fluid and several options still on the table.
- The piece writes that tariffs are likely to come down to between roughly 50-65% and is considering a tiered approach as proposed late last year - effectively dropping tariffs on items the US does not deem a threat to national security.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITY TECHS: E-MINI S&P: (M5) Corrective Cycle Remains In Play
Mar-24 13:45
- RES 4: 5970.87 61.8% retracement of the Feb 19 - Mar 13 bear leg
- RES 3: 5929.04 50-day EMA
- RES 2: 5864.25 Low Jan 13 and a recent breakout level
- RES 1: 5801.77 20-day EMA
- PRICE: 5783.75 @ 13:34 GMT Mar 24
- SUP 1: 5650.75/5559.75 Low Mar 18 / 13 and the bear trigger
- SUP 2: 5483.50 2.00 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
- SUP 3: 5396.00 2.236 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
- SUP 4: 5341.87 2.382 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
The trend condition in S&P E-Minis is bearish and the latest recovery appears corrective. MA studies are unchanged -they remain in a bear-mode set-up, highlighting a dominant downtrend. Reversal lower would refocus attention on 5483.50, a Fibonacci projection. Note that the short-term trend is oversold. Recent gains are allowing this set-up to unwind. Initial firm resistance is 5801.77, the 20-day EMA. The bear trigger is 5559.75, Mar 13 low.
MNI: US MARCH FLASH MANUF PMI 49.8 (FCAST 51.8, FEB 52.7)
Mar-24 13:45
- US MARCH FLASH MANUF PMI 49.8 (FCAST 51.8, FEB 52.7)
- US MARCH FLASH SERVCES PMI 54.3 (FCAST 51.0, FEB 51.0)
US: MNI POLITICAL RISK-Trump Hints At Narrower Reciprocal Tariffs
Mar-24 13:30
Download Full Report Here
- The White House issued a memo promising sanctions against law firms engaging in "frivolous" litigation, injecting more uncertainty into US institutions as Democrats warn Trump's actions toward the judiciary risks a constitutional crisis.
- White House officials have suggested that Trump’s ‘Liberation Day’ tariffs could be more targeted than previously signalled.
- House Speaker Mike Johnson (R-LA) and Senate Leader John Thune (R-SD) will meet on Tuesday for a crucial meeting on a compromise budget resolution underpinning Trump's agenda.
- The Bipartisan Policy Center has projected the X Date is likely to come between mid-July and early October, as Republicans remain divided on strategy for raising the debt limit.
- Treasury Secretary Scott Bessent is accelerating a play for more control over banking regulators.
- US and Russian officials will meet in Riyadh today for a round of technical talks towards a maritime ceasefire.
- Senator Steve Daines (R-MT) told Chinese government officials that Beijing must curb the flow of Fentanyl into the United States before trade negotiations can take place.
- Venezuela said it will begin receiving deportation flights again after the two countries struck a deal for Chevron to keep operating in Venezuela.
- A delegation of Trump administration officials is expected to travel to Greenland this week, escalating a diplomatic standoff over the sovereignty of the strategic Arctic territory.
- Chart of the Day: Tracking every Trump tariff and its economic effect
Full Article: US DAILY BRIEF
