U.S. Tariffs Test Allies’ Trust
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How do U.S. tariffs impact international trust?
Das ist ein Moment, an dem Menschen anfangen zu sagen, warte mal, können wir wirklich Amerika vertrauen?
Plus, how would the president's crypto reserve actually work? And why aren't mining companies all over Greenland extracting its mineral riches? It's Wednesday, March 5th. I'm Alex Osola for The Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that moved the world today. First on today's show, the latest on President Trump's 25% tariffs on goods from Canada and Mexico. The White House Press Secretary Caroline Leavitt said the President is giving a one-month exemption to automakers who comply with the USMCA, a previous trade deal between the US, Canada and Mexico. Sie sagte, die Befehle kamen von den Händen von Ford, General Motors und Stellantis.
What is the latest development on U.S. tariffs on Canada and Mexico?
Währenddessen sprachen Präsident Trump und Kanadischer Premierminister Justin Trudeau am Morgen über Tarife mit keinem offenen Ausbruch. In einem sozialen Medienpost am Nachmittag sagte Trump, er habe Trudeau gesagt, dass Kanadas Bemühungen, den Fluss von Fentanyl in die USA zu stoppen, nicht gut genug waren. But no matter what happens with these tariffs, they've already changed how other countries perceive the U.S. WSJ Senior Markets Columnist James McIntosh is here to tell us about it. James, what did the tariffs change for U.S. allies?
Why are U.S. trade deals considered temporary?
Der Fakt, dass die ersten großen Tarife an den USAs engsten Handelspartnern sind, Kanada und Mexiko, ist für sie ein echter Schock. Aber außerdem ist das der Präsident, der den Handelsvertrag genau mit Kanada und Mexiko renegotiiert hat. So if they can't rely on the president's own trade deals, who in future is going to be willing to rely on new trade deals that the US might agree or old existing trade deals? It makes it a very untrusting world and of course tariffs are only a part of that. We've also got the geopolitics of it with Europe in particular.
Is the world moving towards protectionism?
So are we talking about a return to protectionism?
People who've been following trade closely would argue that actually Biden showed clear protectionism. He continued many of the Trump policies. The shift that began under Trump's first turn against China was intensified by Biden. And there has been a general trend in the world towards de-globalization for quite a while now. But yes, this is a moment when people start to say, well, hang on, can we really trust America?
Where does that leave us now?
How did the stock market react to the tariff exemption?
However it comes out, people are not going to be saying, well, whatever deal we now have with the US is something that is going to be there for the long run that we can rely on. Companies aren't going to be saying, we can build our cross-border supply chains reliant on this new deal, the way they did after, for example, Trump renegotiated NAFTA in his first term. Now, I think companies would be very cautious about doing that because... Das war Senior Markets Columnist James McIntosh.
Stocks climbed in response to the president's one-month tariff exemption for automakers. The Nasdaq was up roughly 1.5% and both the S&P 500 and the Dow ended the day about 1.1% higher. Carmaker stocks also rose, with Ford Motor up roughly 5.75%, General Motors rising about 7% and Stellantis was up more than 9%. President Trump has said that he wants to build a federal cryptocurrency reserve.
What is a federal cryptocurrency reserve?
He is expected to speak about crypto on Friday at a White House industry summit. But many details about how the reserve would work are still unclear. Amrith Ramkumar, who covers crypto and tech policy for the Journal, joins me now with more. Amrith, I want to start by talking about where the crypto for this reserve would come from. Would the government buy it or something else?
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Chapters
7 chapters
1
How do U.S. tariffs impact international trust?
0:41–1:32
2
What is the latest development on U.S. tariffs on Canada and Mexico?
1:32–2:02
3
Why are U.S. trade deals considered temporary?
2:02–2:49
4
Is the world moving towards protectionism?
2:49–3:24
5
How did the stock market react to the tariff exemption?
3:24–4:34
6
What is a federal cryptocurrency reserve?
4:34–5:47
7
Which cryptocurrencies might be included in the reserve?
5:47–12:37
Speakers
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