US President Donald Trump teases tariff exemptions on “unavoidable” April 2 tariffs

Source Fxstreet

United States (US) President Donald Trump has hit hyperspeed on his turnaround time on his own tariff threats on Monday. President Trump teased the potential for "a lot" of countries to get exemptions on his own planned tariffs that are slated to come into effect on April 2. The exact details of the Trump administration's planned tariff package remains eternally elusive, but that hasn't stopped President Trump from reiterating both his steadfast dedication to raise US government funding flows from taxing his own constituents, and also expressing a willingness to explore exemptions for any country willing to come to the table.

President Trump's new tariff comments come hot off the heels of his own comments made earlier on Monday. Donald Trump specifically highlighted Hyundai's recent announcement to invest heavily in automotive manufacturing within the US. The fact that Hyundai's planned investment is entirely earmarked for expanding the production of electric vehicles, an automotive class the Trump administration is actively trying to curtail, apparently didn't make it to the president's desk in time for his comments.

The EV production expansion by Hyundai will also likely draw ire from Donald Trump's pseudo-presidential running mate, Elon Musk, whose electric car company Tesla will face new competition pressures within the US market.

Key highlights

Hyundai is to build a steel plant in Louisiana, it will create around 1400 jobs.

Hyundai investment makes it clear that tariffs work. Hyundai will not have to pay any tariffs.

The Hyundai steel plant is part of a larger $21 bln investment in the US.

Hyundai is increasing auto manufacturing in Georgia too.

Hyundai plant will produce more than 2.7 million metric tons of steel a year.

I may give a lot of countries breaks on tariffs.

I will be announcing additional tariffs over next days.

I will announce additional tariffs over the next days on autos, lumber, and chips.

Tariffs for doing business with Venezuela will be on top of existing tariffs.

Not all tariffs will be included on April 2nd.

I will probably announce automobile tariffs over the next few days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold rebounds above $4,350 as US Dollar, Treasury yields slipGold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the ‌US Dollar (USD) and Treasury yields retreat from recent highs.
Author  FXStreet
Sep 03, Thu
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the ‌US Dollar (USD) and Treasury yields retreat from recent highs.
placeholder
Gold rebounds above $4,450 as Waller tempers Fed rate hike bets ahead US jobs dataGold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday. 
Author  FXStreet
Sep 04, Fri
Gold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday. 
placeholder
Hot August jobs report reignites Fed-hike bets; S&P 500 slips below 7,700 — what to watch before the September FOMCAugust nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
Author  Irene Q.
Yesterday 06: 42
August nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
placeholder
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Author  FXStreet
12 hours ago
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
placeholder
AUD/USD climbs for a fourth day to 0.7218 as Fed-hike bets fail to lift the dollar; RBA speakers and US CPI now in focusThe Australian dollar has risen for four straight sessions toward 0.72 even after August nonfarm payrolls far exceeded expectations and pushed September Fed-hike odds to 58.4%. A thin, holiday-thinned dollar is the short-term driver; Westpac confidence and RBA speakers today, US PPI/CPI this week and the Sept 15-16 FOMC will decide whether the rally holds.
Author  Irene Q.
7 hours ago
The Australian dollar has risen for four straight sessions toward 0.72 even after August nonfarm payrolls far exceeded expectations and pushed September Fed-hike odds to 58.4%. A thin, holiday-thinned dollar is the short-term driver; Westpac confidence and RBA speakers today, US PPI/CPI this week and the Sept 15-16 FOMC will decide whether the rally holds.
goTop
quote