Sunil's Blog & Market Update

The U.S. will charge a 15% tariff rate on the vast majority of EU goods. Key exceptions are steel and aluminium (where the tariff rate will remain at 50%) and aircraft, plus some other goods where the tariff will be zero. Autos, semiconductors, and pharmaceuticals also appear to be subject to the 15% tariff, which is positive given fears of more unfavorable treatment of these sectors.

DONALD TRUMP GOT THE ROUGH OUTLINES of a trade deal with the United Kingdom — but in Washington there was shock over Donald Trump’s latest head-scratcher.

The Federal Reserve left interest rates on hold as widely expected. The main takeaway from the statement and press conference was uncertainty: Fed Chair Jerome Powell repeatedly emphasized the unclear economic outlook.

Although President Trump has said he has no intention of firing Fed Chair Powell, the Trump administration may be testing the laws underpinning Fed independence.

The outlook for U.S. growth and inflation hinges on the ability of U.S. supply chains to pivot out of China fairly quickly, a process that won’t be seamless.

The president has signaled some flexibility on tariffs but remains committed to his broader trade policy agenda.

Collapse of two U.S. banks could trigger a liquidity crisis, loss of confidence in banking system & potential fall in financial markets.

The budget had no new personal or corporate tax rate changes. just a few.