...in Q4 2019, markets behaved identically with indices pushing higher after the US-China trade war de-sensitised market participants, only to crash a few months later with Covid pandemic.
...market participants continued to look at indices, but it is still lacking breadth and conviction. Trump signs order hiking steel, aluminum tariffs to 50pc
Bloomberg
US President Donald Trump signed a directive on Tuesday raising steel and aluminum tariffs to 50 per cent from 25 per cent starting on June 4, following through on a pledge to boost import taxes to help domestic manufacturers.
Trump cast the move, which takes effect at 12.01am Wednesday as necessary to protect national security.
The order said the previous charge had “not yet enabled” domestic industries “to develop and maintain the rates of capacity production utilisation that are necessary for the industries’ sustained health and for projected national defence needs.”
“Increasing the previously imposed tariffs will provide greater support to these industries and reduce or eliminate the national security threat posed by imports of steel and aluminum articles and their derivative articles,” reads the order, which the White House posted on X.
