The U.S. Secretary of Commerce: The first trade agreement has been reached and is expected to be approved soon!
① On Tuesday, USA Secretary of Commerce Wilbur Ross revealed that the Trump administration has reached its first trade agreement, but it has not been completely finalized; ② Also on Tuesday, Trump stated that the tariff negotiations with India are "progressing well," and he believes that the USA is about to reach a trade agreement with India.
Under the threat of tariffs, the USA's commodity trade deficit hits a historical record! The first quarter GDP is likely to face a severe setback.
Due to companies importing Commodities in large quantities to avoid tariff costs, the USA's trade deficit in Commodities expanded to a record 162 billion dollars in March.
Trump has criticized Powell again, this time without naming him.
A week after claiming he had no intention of firing Powell, Trump again publicly criticized the Federal Reserve, stating, "We have a Federal Reserve that is not performing well," and believes he understands interest rates "better than he does."
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