look news india
Global markets are getting weak signs, causing pressure of about 90 points on the gift Nifty. Dow Jones declined by more than 300 points after former US President Donald Trump’s 25% tariff on Canada and Mexico and 10% tariff on China. Meanwhile, gold prices have reached a new record level due to tariff war. The US markets also closed down yesterday.
Will Trump put tariffs?
The press secretary of the White House has confirmed that the tariff is scheduled to be implemented from 1 February. He also clarified that the news of the implementation of tariff from March 1 is wrong.
Donald Trump’s statement on tariff
Donald Trump has said to take concrete steps to put tariffs on EU. According to him:
- Tariff will be imposed on steel from 18 February.
- Tariffs will also apply to chips, oil and gas.
- He claimed that inflation would not increase with the implementation of tariffs.
- From February 1, Canada and Mexico will take 25% tariffs and China will take 10% tariffs.
Michael Heartnet Warning
Bank of America’s China Investment Head Michael Heartnet has advised that investing in cheap international stocks rather than American expensive shares would be more beneficial. He said that the prices of big tech shares have increased immensely.
Meanwhile, Federal Reserve Governor Michelle Baman has said that further improvement in inflation is necessary. He indicated that the way to cut interest rates will open only when inflation decreases.
FIIS – DIIS investment data
- Foreign institutional investors (FIIs) also sold in cash market yesterday, although the figure was lower than the last few days.
- Domestic institutional investors (DIIs) continued shopping in the cash market yesterday.