White House Revokes 25% Tariff Threat Against Colombia
Colombia has reached an agreement with the US, leading to the revocation of Trump's proposed 25% tariff on Colombian goods. Key points include:
- Agreement relates to accepting newly deported immigrants.
- Trump's tariff threats may impact global markets despite being only threats for now.
- Increased tariffs on Canada, Mexico, and China are anticipated.
- Economists are assessing potential impacts on domestic prices.
- The Federal Reserve may adopt a “see through” policy approach rather than raising interest rates immediately.
Fed Chair Jerome Powell's response to tariff-related questions is expected during an upcoming press conference.