News

[Trump administration officials prepare to announce new trade investigations or rebuild tariff barriers] The Trump administration is preparing to announce a series of trade investigations on Wednesday local time after the Supreme Court rejected Trump's tariff plan, a move aimed at paving the way for new tariffs on imported goods, according to a person familiar with the matter. A person familiar with the matter revealed that these trade investigations will be conducted in accordance with Section 301 of the Trade Act of 1974 and will be implemented by the Office of the United States Trade Representative. The New York Times, which first reported the matter, said the investigation included issues such as the digital services tax and suspected currency manipulation. The investigations would mark an important step for the Trump administration in rebuilding its "tariff barriers." Tariffs have been a central pillar of Trump's economic policy. On the day the Supreme Court rejected his tariff policy, Trump announced that he would invoke another legal basis to impose a 10% temporary tariff on global goods for 150 days. Subsequently, he vowed to increase the tariff base to 15%, but the government has not yet implemented this higher tax rate.

The United States will announce the launch of a new Section 301 trade investigation on Wednesday.

European Commission President Von der Leyen: Implementing an oil price cap will help stabilize the market and limit Russia's revenue.

European Commission President von der Leyen: Together with European Council President Costa, they reiterated that the top priority is to ensure smooth flow of energy, especially through the Strait of Hormuz.

European Commission President von der Leyen: Now is not the time to relax sanctions on Russia.

ECB Executive Member Schnabel: Most people would expect some supply to recover; diversification is also better.

ECB Executive Member Schnabel: Unlike in 2022, we don’t know how much of the supply reduction is permanent.

The U.S. two-year Treasury yield rose to 3.642%, the highest level since September last year.

ECB Executive Member Schnabel: The exchange rate has not changed much.

Market news: Romania’s parliament approved the United States’ request to increase the use of air bases.

U.S. Secretary of the Interior Burgham: (Talk about the Strategic Petroleum Reserve) U.S. President Trump is about to announce relevant information.

ECB Executive Member Schnabel: Creating European safe assets does not mean issuing more debt.

Russian Ministry of Finance: Decisions being made will not affect spending on "special military operations" in Ukraine and social security obligations to Russian citizens.

Russian Ministry of Finance: Adjustments to Russia’s budget rules should be accompanied by prioritization of budget expenditures.

Russian Ministry of Finance: (Regarding spending cuts) Prioritization of government spending will help avoid the expansion of debt and maintain the long-term stability of the country's finances. Measures to prioritize budget spending are being discussed with other departments.

U.S. stocks continued their decline, with the Dow Jones Industrial Average's decline extending to 1.00%, the Nasdaq Composite Index now down 0.2%, and the S&P 500 Index down 0.4%.

French President Macron: The government may decide to take further measures to mitigate the impact of rising oil prices on French consumers.

ECB Executive Member Schnabel: The persistence of energy price shocks must be monitored.

ECB Executive Member Schnabel: We must be alert to the risk of upward inflation.

ECB Executive Committee Member Schnabel: Monetary policy is still in good shape.