US President Donald Trump set to release “America First” trade policy

Joshua Gibson FXStreet

In his first public appearance as the freshly-declared President of the United States, Donald Trump has reiterated several of his sweeping campaign claims and promises, including seizing control of the Panama Canal, as well as establish an "external revenue service" which will ostensibly be responsible for collecting profits from tariffs his administration intends to impose. Donald Trump also reiterated his promise to refill the US' Strategic Oil Reserve, a commodity stockpile that President Trump famously dipped into during his first term in a bid to shore up a massive funding shortfall in the US government budget caused by lopsided tax cuts which crimped federal funding revenues. In a separate statement issued by Donald Trump's White House team, the new President will be ending leasing programs for clean energy wind farms, and is set to announce his "America First" trade policy guide, in whatever form and language that happens to take, at some point in the near future.

Key highlights

Trump directs US agencies to take emergency measures to reduce the cost of living.

Trump: I will sign a series of executive orders today.

Trump: I will direct the cabinet to defeat record inflation.

Trump: I will also declare a national energy emergency today.

Trump: I will fill strategic reserves again and export American energy all over the world.

Trump: I will revoke the EV mandate.

Trump: I will begin an overhaul of trade system.

Trump: I will tariff and tax foreign countries to enrich our citizens.

Trump: We will establish an external revenue service.

Trump: We will establish a department of government efficiency.

Trump will withdraw from the Paris climate accord

Trump: We will take back Panama canal.

Trump will end leasing to massive wind farms - White House.

Trump will announce America first trade policy - White House

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD declines below 1.3500 on UK political uncertainty, US PPI data eyed

The GBP/USD pair loses ground to near 1.3485 during the early Asian session on Friday. The Pound Sterling weakens against the Greenback amid rising UK political uncertainty surrounding the Gorton and Denton by-election.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Bitcoin steadies as traders eye US–Iran talks

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Thursday after a 6.2% relief rally the previous day amid a broader downward trend.