While the US President enjoys a berating of allies, his attitude to international trade is causing concern within the US Federal Reserve. The minutes of the January policy meeting, published yesterday, showed that members are now taking a rather cautious approach to how a future world beset with tariffs will play out on the US economy.
After being diverted with a foray into the diplomatic world, Donald Trump has come roaring back to the tariff table and once again put markets on edge. Late on Tuesday, the President repeated his intention to pursue a policy on cars of 25%. However, he elaborated on a plan to add a similar charge to pharmaceuticals and semiconductors offering a date of 2nd of April for implementation.
Oil prices continue to be muted, mulling varied influences but way too frightened of falling foul of a geopolitical hand grenade that might be tossed from Washington.
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