On the evening of June 14, the White House suddenly stated that the United States was ready to fight inflation and was discussing some “irresponsible” tariffs imposed by former President Trump. This has raised expectations for tariff relief once more.
This Tuesday, the mainland A-share market staged a deep V rebound, and this turnaround has actually been formed in the morning. At the close of the morning, the offshore RMB had risen by nearly 300 points, and foreign capital gradually entered. In the followingnoon, the largest increase in the RMB was as high as 500 points. The biggest gain in the offshore yuan was still more than 400 points late Tuesday. In terms of magnitude, the appreciation of the RMB is higher than that of the US dollar index.
On Tuesday night, there were also US stocks and bonds that made a big counterattack across the board. After reflecting the 75 basis points of the Fed’s interest rate hike, and the US PPI data was better than expected, the US stock market index rebounded sharply in the pre-market, and the European stock market also received a certain improvement. vibrate. It is worth noting that the US treasury bond market also has a strong performance. The Dow Jones index ended slightly lower by 151 points.
In addition, on the evening of June 14, White House press secretary Pierre said that the Biden administration is discussing whether it may change some “irresponsible” tariffs imposed by former President Trump on Chinese goods, which have increased the number of American families. and business expenses.
Pierre said internal discussions continued, but did not elaborate on President Biden’s thoughts on the issue.
“We are discussing this and trying to align these indiscriminate tariffs with our priorities to protect the interests of our workers and critical industries,” Pierre told reporters on Air Force One.
U.S. news site Axios, citing people familiar with the matter, reported that Biden said during a meeting with key cabinet members in the Oval Office last week that he intends to remove some products from the Trump administration’s list of Chinese tariffs.
Faced with 8.6 percent inflation, the highest in 40 years, Biden and top administration officials are pressing for action to lower prices, even if it makes them appear soft on China.
Inflation is eroding the purchasing power of low-income Americans, seriously jeopardizing the Democratic Party’s midterm elections this year. Although the Fed is mainly responsible for eliminating inflation, it currently covers $350 billion…
