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Trump Moves to Impose 10% Global Tariff After Court Setback

                                                        U.S. President Donald Trump In the wake of a major Supreme Court defeat, President Donald Trump announced that he will sign an executive order to impose a 10% global tariff on U.S. trading partners. The move comes just hours after the Court struck down his earlier sweeping tariff measures, ruling 6–3 that he had exceeded his authority under emergency powers.  Trump said the new tariff will be enacted under Section 122 of the Trade Act of 1974, which allows temporary trade measures to address balance‑of‑payments issues. He emphasized that the tariff would be added “over and above” existing duties, signaling his intent to continue pursuing aggressive trade policies despite the legal setback.  Defiant in tone, Trump insisted that the ruling would not constrain...
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China’s Central Bank Cuts Reserve Requirement Ratio for Banks to Boost Slowing Economy

 

China’s central bank has announced a cut in the reserve requirement ratio for banks to help boost the slowing economy. The move is expected to provide 1 trillion yuan ($141 billion) in long-term liquidity to the market. The deposit reserve requirement will be cut by 0.5 percentage points as of February 5th, 2024. 

The decision comes as the world’s second-largest economy faces multiple challenges, including a faltering recovery from the shocks of the COVID-19 pandemic. The central bank’s moves appear to be part of a concerted effort to stabilize the markets and instill greater confidence in the outlook for the economy.


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