Speculations about a 90-day tariff delay lead to a dynamic rebound in the indices 🔔
- WH Sr. Adviser Hassett: Trump is mulling a 90-day pause on tariffs aside from China (update: fake news)
- White House tells CNBC 90-day pause on tariffs is fake news
- EU’s Trade Chief Sefcovic: We are ready to discuss zero for zero tariffs not only for cars but also for other industrial products
Hassett, one of Donald Trump’s senior advisors, indicates that he is considering a 90-day suspension of new tariffs on all countries except China. This information led to a rebound of up to 2.5% on the US100 futures contract and a similar bounce in the cash market. It almost fully neutralized Friday’s declines. However, volatility is very high, and the situation is changing from minute to minute. Earlier, Hassett pointed out that many countries proposed various types of solutions. The EU, among others, proposed the introduction of zero tariffs in exchange for zero tariffs.
Update: Indices very quickly erased the rebound and US100 has now returned to declines. Currently, US100 is down 1.00%, after gaining nearly 4.00% at its peak. Market volatility is record-high today, and the nervousness stems from conflicting signals coming from various sources regarding progress on tariff removal.
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