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Trump Trade Advisor Navarro: We will set a reciprocal tariff for digital services tax

Trump Trade Advisor Peter Navarro hinted at the possibility of yet more tariff exemptions during an interview on CNBC on Tuesday. Trade Advisor Navarro's comments, while welcome by markets, contradict statements from other Trump administration policymakers who have already earmarked planned tariffs as a potential funding source to plug the upcoming holes in team Trump's budget goals.

Key highlights

On Canada, Mexico tariffs: Negotiations are ongoing.

If we don't get progress, Trump will do tariffs.

We will set a reciprocal tariff for digital services tax.

Digital services taxes are not about helping Amazon or Meta, the digital services taxes are about fairness.

I question whether Germany is an ally because of taxes.

 

US Treasury Secretary Bessent: I aim to reduce spending and ease monetary policy at the same time

US Treasury Secretary Scott Bessent reiterated some of President Donald Trump's policy goals during a hosted event in Australia on Tuesday.
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Fed's Barkin: I expect upcoming PCE will show a further decline

Federal Reserve (Fed) Bank of Richmond President Thomas Barkin cast his bets on another decline in Personal Consumption Expenditure (PCE) inflation later this week, noting that the Fed has made singificant progress on inflation.
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