United States President Donald Trump took to Truth Social on Wednesday to urge the nation to “BE COOL,” as everything “is going to work out well.” “The USA will be bigger and better than ever before!” he insisted. Trump’s comments come as the trade war across the globe is heating up. After Washington’s reciprocal tariffs went into effect at 12:01 am ET, with levies on China reaching 104%, some countries decided to react promptly. Earlier today, Beijing announced that its tariffs on US goods will be raised to 84% and come into effect on April 10. Meanwhile, the European Union also agreed to up its duties against some US sectors, with the implementation starting on April 15.
Oil dips 6.5% after China’s new tariffs on US goods
Crude oil prices extended their losses on Wednesday, plunging by more than 6% after China announced it raised its trade duty on goods from the United States from 34% to 84% in response to US President Donald Trump’s tariffs, including a cumulative levy rate of 104% on Chinese imports. West Texas Intermediate (WTI) for May’s settlements plummeted by 6.55% at 7:03 am ET to sell for $55.72 per barrel. Meanwhile, Brent for June’s deliveries nosedived by 6.22% and sold for $58.99 per barrel at 7:04 am ET.
China hit with 104% Tariffs
The War has Started
United States President Donald Trump’s country-specific tariffs as of 12:01 am ET have been activated. Chinese goods now face a massive tariff rate of 104%.
China so far is not backing down in this very dangerous tariff war. I am seeing China starting to liquidate part of its vast holdings in US government debt. Rates are rising which is great for our upcoming zero bond trade in the next few months.
I believe in the SHORT term China will cease hostilities
Trump’s targeted tariffs kick in, China hit with 104% levy
United States President Donald Trump’s country-specific tariffs took effect as of 12:01 am ET, meaning that Chinese goods now face a massive cumulative tariff rate of 104%. Beijing, for its part, has thus far shown no signs of backing down in the all-out tariff war, vowing on Tuesday to fight Trump’s trade policies “to the end” and respond with countermeasures. Several Chinese state-owned investment holding companies pledged to increase share investment, in a bid to calm a stock market shaken by recession fears. Trump, meanwhile, expressed his confidence in Beijing wanting to make a deal “at some point” and claimed that the Asian nation was manipulating its currency to offset the impact of the tariffs. China is one of the roughly 60 countries hit by the custom-tailored tariffs, which are substantially higher than the 10% baseline duty that was imposed on most nations over the weekend. All of the nations impacted by this new round were labeled by Trump as “worst offenders” when it comes to trade practices.
NN: THIS IS A BIG AWH SHIT
Everybody and their dog is SHORT oil
HIGH FREQ FREAK OUTWTI Sinks 14% in Two Days
Oil tumbled to a four-year low
Algo traders, high frequency cocaine addicts. and candle stick assholes, which tend to exacerbate price swings, switched to 73% short in WTI, compared with 9% short in just one day
Such a dramatic shift in positioning has only ever occurred in the event of a major economic meltdown,
PLAY BLACKMASK POD CAST BELOW
Oil climbs 1%, recovers slightly from losses
Crude oil prices rebounded slightly on Tuesday after plummeting and hitting a four-year low yesterday, stoked by fears of global recession after United States President Donald Trump announced his reciprocal tariffs, which caused a significant market selloff.
West Texas Intermediate (WTI) for May’s settlements climbed by 1.37% at 1:20 am ET to sell for $61.48 per barrel. Meanwhile, Brent for June’s deliveries advanced by 1.23% and sold for $65.04 per barrel at 1:22 am ET.
nn: like i so stated wti in the fifties is a non starter. and i believe a important bottom is in. after all everyone was selling
China says will ‘fight to the end’ against US tariffs
China said it would “fight to the end” and take countermeasures to “safeguard its own rights and interests” after United States President Donald Trump escalated his tariff threats against the Asian nation. The statement came after Trump said on Monday that he would impose an additional 50% tariff on China, effective Wednesday, if Beijing doesn’t withdraw its 34% retaliatory tariff on US goods. “The US’ threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the US’ blackmail nature,” China’s Commerce Ministry said. “China will never accept this. If the US insists on its own way, China will fight to the end,” the ministry stressed.
NN: china can not survive without access to the us retail market….. wars have been fought over trade
China says will ‘fight to the end’ Against Us Tariffs
China said it would “fight to the end” and take countermeasures to “safeguard its own rights and interests” after United States President Donald Trump escalated his tariff threats against the Asian nation.
The statement came after Trump said on Monday that he would impose an additional 50% tariff on China, effective Wednesday, if Beijing doesn’t withdraw its 34% retaliatory tariff on US goods. “The US’ threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the US’ blackmail nature,” China’s Commerce Ministry said.
“China will never accept this. If the US insists on its own way, China will fight to the end,” the ministry stressed.
nickguarino.com
Dow back to negative 1,000 pts on Trump’s threats
Major stock exchanges continued to crash on Monday after United States President Donald Trump shared new comments regarding his foreign trade policy. The US head of state warned China that should it go ahead with its retaliatory measures, it would be slapped with an additional 50% tariff. Global markets have been in disarray since April 2, when the new US duties were announced. Earlier today, a fake report on potential tariff delay brought a brief respite to investors, but the White House’s denial of the news quickly pushed markets back into the red territory. The Dow Jones slid 1,075 points or 2.80% at 11:29 am ET. A minute later, the Nasdaq 100 plunged 1.77% and the S&P 500 nosedived 2.11%.
White House says 90-day pause in levies ‘fake news’
CNBC retracted on Monday its earlier story suggesting that White House NEC Director Kevin Hassett indicated US President Donald Trump was evaluating a 90-day suspension of tariffs, with China being the exception.
“Fake news,” the media outlet stated, quoting White House Press Secretary Karoline Leavitt.
US stocks have swiftly undone their recovery, erasing advances and shifting sharply into declining territory after the headline attributed to Hassett was debunked.