UBS cuts Brent crude oil forecasts
Invesitng.com -- President Donald Trump said on Thursday he is open to tariff negotiations if other countries offer something phenomenal, but stopped short of providing further details.
The update comes a day after Trump unveiled sweeping tariffs on all imports and higher levies on "bad actors"
The president said the United States will impose reciprocal tariffs of at least 10% on all imported goods, with higher reciprocal rates for some nations that will be equivalent to "half" of the rate they levy on U.S. exports.
The remarks from trump were the first sign that Trump could be willing offer respite on the tariffs in exchange for a deal.
China, which charges a 67% of tariff on U.S. imports, will be among the among the worst hit, with new levy of 34%. That would be in addition to the 20% tariff on goods from China, taking the total rate to 54%.
Trump offered Beijing an olive branch, saying that he could consider a deal to ease tariffs on China if it approves the sale of TikTok US ahead of a looming Apr. 5 deadline. A deal on the sale of TikTok is close, the president said, with multiple investors involved.
The S&P 500 and Nasdaq 100 suffered their biggest one-day loss since 2020 on Thursday, pressured by a slump in major tech stocks amid fears of tariff-induced demand distruction.