The Prime Minister of Australia responded to Trump's tariffs: there will be no equal countermeasures, and negotiations for exemptions will be sought.
① Australian Prime Minister Albanese criticized USA President Trump for imposing a 10% tariff on allies, stating that such actions are not what friends do, and indicated that Australia will not impose equivalent tariffs on the USA; ② The Australian government will seek to negotiate with the USA in hopes that Trump will lift the tariffs on Australia.
Trump Unveils 'Liberation Day' Tariff Package of 10% Minimum on All Imports
Daily Roundup of Key US Economic Data for April 2
The Governor of the Bank of Japan warns: Trump's 'reciprocal tariffs' could severely damage global trade and the economy!
① The Governor of the Bank of Japan, Kazuo Ueda, stated that the "reciprocal tariffs" soon to be announced by President Trump of the USA could have a significant impact on global trade and adversely affect Global economic growth; ② Ueda hopes to share views with G20 finance ministers at this month's G20 finance minister meeting in Washington regarding the impact that the USA's tariff increases may have on the Global economy.
The inflated inventory masks weak demand, and the manufacturing sector in the USA is worse than the surface data suggests.
The report details show a more severe situation, with key sub-indices such as new Orders, production, and employment all falling below 50. Barclays believes that the dual impact of tariff policies—rising costs and weakened demand—are eroding manufacturers' profit margins and confidence. Although precautionary stockpiling has temporarily supported activity, it has masked a deeper level of demand weakness.
Daily Roundup of Key US Economic Data for April 1
