NYT Opininon Piece says Trump's new tariffs are illegal too; notes "A Section 122 “payments problem” involves a flight from the U.S. dollar. At the moment, no such problem exists."
Newsquawk Staff ·
- "The provision is not about trade imbalances. Other parts of the statute address those. It is about financial imbalances — in particular ones that threaten financial stability."
What it means
This opinion piece suggesting that Trump's new tariffs are illegal may create uncertainty in trade relations, potentially impacting investor sentiment towards the USD. While it notes no current issue with U.S. dollar stability, such discussions could trigger volatility in forex and equities, especially if concerns over tariffs escalate into broader economic fears.
Sources
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
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