Energies
China hits back with a 145% tariff. Apple faces considerable challenges
The trade war continues to escalate. Today, China raised tariffs on U.S. goods to 125% from 84% in retaliation to Trump’s measures.
And while Trump’s 90-day tariff pause has helped some businesses, Apple faces continued challenges. With 80% of its U.S.-bound iPhones made in China, Apple is heavily impacted by the new 145% tariff rate. Analyst anticipate that Apple may need to raise U.S. iPhone prices by 85% to compensate for the tariffs effect.
UK GDP grows more than expectation
The U.K. economy grew 0.5% in February, exceeding analysts’ expectations of 0.1%, driven by a 0.3% rise in services output. However, the positive data may be overshadowed by looming U.S. tariffs. Britain faces potential 10% duties on exports to America, its largest trading partner representing 17% of international trade.
Gold hits new high at $3,220 as inflation cools down in the U.S.
Gold reached a record high of $3,226 per ounce as escalating trade tensions between the world’s two largest economies drove investors toward the safe-haven asset.
Oil bounces back after Trump’s pause on reciprocal tariffs
After a sharp decline from $70 in last week to $54 per barrel, oil prices recovered partially after Trump announced a pause on his reciprocal tariffs. By end of trading day yesterday, West Texas Intermediate have inched higher to close at $62 per barrel.
Similarly, Brent achieved some gains in yesterday’s session closing beyond $65 before it lost most of these gains in today’s session.
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