Shipments of containers and goal cranes outside the fishing boat near the port of Deepwater in Yangshan in Shanghai in China, on Wednesday, December 6, 2023, Chinese commercial data is scheduled for December 7.
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In just a few hours, the Trump tariffs will start – including 104% of the duty of Chinese imports.
Despite the growing consternation and fears expressed by economists and general directors, Trump administration officials were stubborn in defense of commercial policy. Treasury Secretary Scott Bessent said on Tuesday CNBC that about 70 countries want to discuss contracts with the White House, while commercial advisor Peter Navarro on Friday said that the tariffs are not negotiable. (Whether discussing contracts is a form of negotiations is apparently debatable).
But at least one member of the Trump team does not seem very happy with the tariffs. Elon Musk, not specifically dealing with the commercial policy of the White House, described Navarro – the best administration adviser – as “moron” and “dangerously stupid”. Musk is de facto Doge leader, a key role in Trump's administration. He is also the general director of Tesla, an international company.
Despite this, considering how fierce officials of the White House were in favor of tariffs, it does not seem likely that the public feud Musk from Navarro will draw a wound of global trade.
What you need to know today
Tariffs prepared for the start
American customs and borders will be protected Start enforcing new tariffs of President Donald TrumpAgency on April 9, 2025, at 12:01 edt he said in a statement. This covers 104% of the Chinese import duty, which Trump introduced after submitting China with his own tariffs, the White House clerk confirmed CNBC. Treasury secretary Scott Bessent said China's answer on Tuesday “He was a big mistake“And” Losing hand “.
The early rally on American markets flows out
American actions fell on TuesdayBy giving up the profits from the rally earlier on the same day. . Industrial average Dow Jones Lost 0.84%, even though during the day it increased by 3.9%. . S&P 500 fell by 1.57% and NASDAQ composite It fell by 2.15% – the first lost over 12%, and the second fell by over 13% in the last four trade sessions. Regional Europe Stoxx 600 The index was added by 2.72%, reinforced with insurance actions, which increased by 4.08%.
Microsoft again the most valuable company
Apple 5% Slump Tuesday sets total losses in the last four days at 23%, which gave the company based in Cupertino market capitalization in the amount of USD 2.59 trillion. It means Microsoftwhich is worth $ 2.64 trillion, it is again The most valuable public company in the world. Apple is the most difficult among Megacap Tech companies due to relying on China – and IPhone production in the USA According to the analyst, it is not “something”.
Musk cut off attacks on Navarro
Tesla CEO Elon Musk on Tuesday has exploded Trump's best commercial advisor Peter Navarro as “really a moron“Musk responded to Navarro's comment that Tesla is more” car assembler “than a car manufacturer. When asked about the dispute, the press secretary of the White House Karoline Leavitt said: “The boys will be boys, and we will allow their public pairing to last.” Tesla's shares have dropped by 22% in the last four commercial sessions.
(PRO) Actions that use commercial transactions
US Treasurer Scott Bessent said that about 70 countries reached the White House Discuss tariff suggestions. Some of these countries may come to an agreement first, which may raise Company shares which have close business contacts in these locations.
And finally …
The airline industry has been inhibited by the perfect storm of challenges in recent weeks, from shortages of labor and supply disturbances to rising fuel prices.
SOPA paintings Lightrock | Getty images
“At the moment we are in restless times,” said President Emirates Tim Clark in CNBC in an interview registered on March 20 – before the announcement of Washington about his latest global fees.
“It is unexplored because it is associated with a measure of reset to a level that the global economy probably did not see from the financial crisis in 2008-2009,” Clark said, pointing to the growing pressure on carriers and the effect of waving in the aviation supply chain.
The head of Emirates offered a violent approach to the motivation of Trump's administration, creating trade escalation as a deliberate “commercial reset” aimed at transforming global trade – although he warned that he could free “restless waters”.