Exemption of technology tariff indicates the weight of consumers

Late Friday, the Trump administration welcomed the weekend in the best way: by announcing that electronics-such as smartphones, computers, and semi-conductors-will be temporarily exempted from the so-called mutual terms, including 10 % base rate on all countries.

This means that these products imported from China will not apparently subject to 125 % American President Donald Trump slapped Beijing (will remain a 20 % tariff). apple The CEO, Tim Cook, should breathe a sigh of relief: the manufacture of the Cuperno -based company About 80 % of iPad and more than half of Mac computers in ChinaAccording to the estimate of Evekor ISI.

The news is also a satisfaction for consumers, who strongly need a mood, based on results The latest survey of the University of Michigan. After all, not only companies and importers affected by definitions. The prices of the laptop have already increased, according to the satirical comments on Reddit. the Nintendo Switch 2 Preormer has been postponed.

Perhaps even Trump is in mind the famous saying in Wall Street: Do not bet against the American consumer.

Technology exempt from definitions
US President Donald Trump Exempt smartphones Of the mutual definitions, according to guidance It was released by American customs and border protection late on Friday evening. the White House He said on Saturday that the exemptions were offered because Trump wants to make sure that companies have time to transfer production to the United States

American markets rise in a volatile week
American stocks went up on Friday to End the week on a positive note Despite the heavy market disturbances caused by the Trump administration tariff. For the week, S & P 500 5.7 %, and Dow Jon’s industrial average Earn approximately 5 % and Nasdak 7.3 % jump. Regional Europe Stoxx 600 index Loss 0.1 %After its best session since March 2022. UK FTSE 100 It closed 0.64 % higher after the data showed The British economy grew 0.5 % in February On a monthly basis, much more than expected.

Consumers in the United States are really ostracized
Consumer feelings drowned in April moreAccording to Michigan Universityto survey. The mid-month’s reading was published 50.8-minimum level since June 2022 and the second lower in the poll date dating back to 1952-below the estimate of Dow Jones consensus for 54.6. Meanwhile, the forecasts of inflation jumped for a year from now to 6.7 %, the highest level since November 1981 and rose from 5 % in March.

“Very close” from the recession
Blackrock CEO Larry Fink told CNBC on Friday he believed.We are very close, if not in a stagnation now“However, Fink said he did not believe that the United States was in a financial crisis and expects to be“ Megatrends ”as artificial intelligence continues. Bridgel Ray Dalio founder lifted similar alarms on Sunday, saying the country.Very close to the recession– But it is “worried about something worse than stagnation” if the situation is not treated well.

Big bank profits
Jpmorgan Chase and Morgan Stanley The profits were reported on Friday. Both banks beat expectations, with the help of the arrow trading activity. Jpmorgan It saw 48 % increase in stock trading revenues, while Morgan Stanley 45 % increased. In JPMorgan’s profit call, CEO Jimmy Damon said they have analysts.The profits of the S&P estimates were reduced by 5 %“In recent days – it is expected to” go down more. “

(Pro) European performance surpassed the United States
While the S&P 500 index decreased to about 11 % so far, the Stoxx 600 Pan-Euripeans has decreased by only 4.4 %. Other European Porters are also much better than those in Germany in the United States LaxativeIn fact, even in positive lands. CNBC explains the reason for this, and it plans to risk though Europe is superior to the United States so far.

China urges Trump to correct mistakes and “rational voices” responded to the mutual tariff

The Chinese Ministry of Commerce described the American tariff exemptions as a “small step” and urged US President Donald Trump to “completely cancel” the mutual tariff, which includes a duty of 145 % on imports from China.

The ministry said in a statement online, “We urge the United States to pay attention to the rational voices of the international community and local parties, and we take a big step in correcting its mistakes, and completely eliminates the illegal measure” mutual definitions. “

Recent exemptions from customs tariffs are provided to imports locally as Trump is declining and additional evidence that Chinese supply chains cannot be easily replaced by American companies.